As Ferrari prioritised its Formula 1 and prototype sportscar programmes at the turn of the millennium, it was left to privateers to evolve the 550 Maranello road car into a bona fide racer. Most notably, the resulting 550 GTs built by Prodrive would secure class wins in the 24 Hours of Le Mans, American Le Mans Series, and seal the FIA GT Championship crown.

Seeing the accolades pour in, Ferrari sought to take development of the succeeding 575M competition car in-house. In anticipation, it commissioned Italian team N.Technology to take over the Italtecnica project and build a brace of 550 GTCs to effectively serve as intermediate test beds. Both were loaned by the factory to loyal customer squad JMB Racing and entered select rounds of the 2003 FIA GT Championship.

Offered here is chassis number 2102, which made its bow in the fifth meeting of the season at Donington Park. Shared by drivers Philipp Peter and Fabio Babini, the GTC started 14th before finishing 18th overall (10th in class). The car’s next outing came in the 24 Hours of Spa. The fickle Ardennes weather added a dose of unpredictability, allowing chassis 2102 to climb from 11th in qualifying into 1st. Remarkably, the 550 would lead for six hours before dropping to 2nd. It ultimately retired with an engine issue.

The car returned for the next two rounds, classifying 19th at Anderstorp prior to another glitch with the V-12 that meant chassis 2102 failed to start at Oschersleben. Thereafter, JMB Racing switched to the replacement N.Technology-built 575 GTC. But that is far from where chassis 2102’s story ends.

The 550 GTC was returned to Ferrari and then sold to Piero Nappi in 2005. In his hands, the car competed extensively in the Italian Speed Hill Climb Championship over the next decade, achieving some 40 group or class wins and notching the GTM class title in 2005. Underlining the significance of these achievements, the car’s accompanying history file includes a letter from Jean Todt, then the Ferrari CEO and Race Division General Manager, writing to offer Nappi his heartfelt congratulations.

Acquired by a new owner in 2017, the car was the subject of a sympathetic restoration and duly returned to its 2003 24 Hours of Spa livery. Significantly, both the V-12 and sequential transmission were rebuilt; the former by Autotecnica Motori in 2016 and the latter by acknowledged Hewland expert Steve Bannon in 2017. Accordingly, coveted Ferrari Classiche certification was awarded in March 2021, with the 550 GTC noted to retain its matching-numbers chassis, engine, and gearbox.

Since purchased by the consignor, the Ferrari benefits from a sympathetic recommissioning by Italtecnica in Turin and Toni Auto of Maranello. This included a full engine check, timing belts replacement, another transmission rebuild, new clutch, alignment of the engine, propshaft, and transaxle, new brakes, and the fitment of a full engine management system by MoTec. A Magneti Marelli system accompanies the car. The Ferrari subsequently completed a series of shakedown tests with Andrea Montermini, prior to its appearance at Ferrari’s Finali Mondiali celebrations at Imola in October 2024. The car was also used with success and without issue during the Challenge and GT Days at Monza in May 2025, followed by another appearance at the Ferrari Finali Mondiali at Mugello in October. Having had the pleasure of driving the 550 GTC on several occasions, the RM Sotheby’s team of specialists confirm how approachable and pleasant the car is to drive.

Originally owned by the factory, this 550 GTC is a fascinating piece of Ferrari competition history. Supplied with a spare parts package that includes two sets of wheels and tyres plus a carbon fibre prop shaft, chassis 2102 is made all the more appealing courtesy of its eligibility for the variety of increasingly popular young-timer GT historic race series in addition to making for a welcome entrant into concours and display events.