Here we are with some more Ferrari news; this time it is about a Ferrari F40.

The F40 was and still is an extremely potent track car that hails from the motorsport specialists at Ferrari->ke252. The F40 was built it to commemorate the prancing horse's 40th anniversary, and it went on to win the hearts of car enthusiasts around the world. However, it is not a car you take for granted because it can turn around and bite you, if you lose focus behind the wheel.

That's exactly what happened with a F40 owner sometime back. Sadly, he ended up crashing it to such an extent that he decided to sell it off. A bunch wise fellas from Gas Monkey Garage then bought it for $400,000 and set on the journey of rebuilding this awesome supercar->ke177.

What they came up with is even more breathtaking; a Ferrari F40 for the 21st century. A complete rebuild later, they now plan to auction it off at this year's Barrett-Jackson auction. The restoration work was aired on the popular TV series "Fast N' Loud" Given the long hours put in by the team, the car could fetch more than $1 million. So, a $600,000 margin may be good enough.

The 2014 Barrett-Jackson auction will be held from January 12th through 19th in Scottsdale, AZ.

Click past the jump to read more about the Ferrari F40 by Gas Monkey Garage

1991 Ferrari F40 by Gas Monkey Garage

Specifications
  • Make: Array
  • Model: 1991 Ferrari F40 by Gas Monkey Garage
  • Engine/Motor: V8
  • Horsepower: 550
  • [do not use] Vehicle Model: Array

Exterior

Since the car had suffered quite a lot of damage, the Gas Monkey team had to do a lot of bodywork, a chassis rebuild and loads of detailing work. This complete tear down and rebuild gave the guys a chance to replace its original red exterior pain with the striking and unique deep-black paint that you likely won't see on any other F40.

The exterior has been restored to original, albeit with a few tweaks. The classic pop-up headlamps were replaced with ducting fir additional cooling. Additionally, Gas Monkey Garage replaced the lower-front lights with modern LED treatment, so the main beam is now an array of light emitting diodes.

The rear end remains stock, but with a little metal reinforcement where the exhaust pops-out of the bodywork. The original wheels were also swapped out with custom black HRE rims, giving the F40 a race car-like look.

Interior

Now, the cabin of the Ferrari->ke252 F40 is pretty basic, and is anything but luxurious. Ferrari wanted the F40 to be as light as possible, so it removed every bit of carpet, leaving behind bare carbon fiber. Even the glue that holds the carbon-fiber pieces together is visible, which is part of the charm of the F40.

Ferrari went to extremes in its weight-saving tactics, as it even rid the F40 of traditional door handles. In the place of door handles, the Prancing Horse installed a string, which was likely the lightest Ferrari engineers could think of at that time. The seats are single-piece, carbon-fiber units with loads of lateral support and the low rake of the steering wheel is straight out of the original.

The folks at Gas Monkey Garage took great care to keep the interior in its bone-stock setup.

Drivetrain

Now, we come to the most interesting bit, as the stock Ferrari->ke252 F40 took its power from a 2.9-liter twin-turbocharged V-8. The total output of this setup was rated at 471 horsepower and 425 pound-feet of torque. Gas Monkey Garage wasn't satisfied with those numbers, so it upgraded the guts of the turbochargers -- the cases are still stock -- and installed a TUBI exhaust system, which helped boost the output.

This tuned Ferrari F40 with its brand new turbochargers puts out a healthy 550 horsepower to the rear wheels via a highly intuitive H-pattern gearbox. Thus, the team seems to have achieved in keep the essence of the original intact and at the same time give more ponies to keep up with modern-day supercars.