Repainting any Ferrari, let alone the highly sought-after F40, requires confidence, and perhaps a disregard for convention. Now, unlike the F50, which was available in a handful of colors, every single example of the Ferrari F40, yes, all 1,315 units, left the Maranello factory in Rosso Corsa. This deeply symbolic color has long been synonymous with the Italian marque’s identity and legacy.
However, Chassis #94647, known today as the “Blue Chip F40,” represents a unique and uncompromising interpretation of this iconic supercar, one that wears Azzurro Hyperion over blue Alcantara. Built on July 29, 1992, and delivered new to Motor S.p.A. in Modena, Italy, this F40 was originally configured in a much more traditional spec, with its red exterior and Stoffa Vigogna interior reflecting Ferrari’s standard F40 production finish at the time.
The car’s first owner, Paolo Pazzaglia, a prominent nightlife figure from Bologna, logged more than 5,000 kilometers (3,106 miles) before transferring ownership in 1993. The car remained in the Bologna area for several years, where it received consistent maintenance and attention, before being exported to the United Kingdom in early 1998.
Once in the U.K., this F40 entered the hands of passionate custodians, including television presenter and collector Paul Martin, who appreciated the car’s engineering and historical significance. Over the years, the vehicle accumulated extensive documentation besides what it originally shipped with, including Ministry of Transport (MOT) certifications, COA, Red Book, the original service book, and service invoices.
But in 2021, the car’s then-owner began envisioning a new chapter for chassis #94647, one that centered around enhancing its performance capabilities, a road-going homage to the even rarer Ferrari F40 LM (limited to 19 units), besides elevating its aesthetic appeal to reflect a more bespoke example of Ferrari’s most analog supercar.
The transformation of this 1980s halo car was entrusted to Furlonger Specialist Cars, a respected U.K.-based Ferrari specialist. The F40 received several mechanical upgrades, including the installation of a Michelotto-developed F40 LM racing gearbox, a component rarely found outside competition-spec builds, along with uprated turbo wastegates on the 2.9-liter V8, and a Tubi exhaust system that amplifies the car’s already ferocious soundtrack.
A KW fully adjustable suspension featuring a nose-lift system was also installed to improve usability. Another highlight are the wheels. In order to accommodate the addition of 355-millimeter Brembo GT brakes, which significantly elevate stopping performance, the team engineered custom 18-inch rims that carefully preserve the original five-spoke center-lock aesthetic that you associate with the F40.
But by far, the most visually arresting element of this entire project comes in the form of a complete respray of the body in Azzurro Hyperion, a rare and refined Ferrari shade that first appeared in the early 2000s on limited-production models such as the 575M Maranello and 360 Spider. For some context, this hue belongs to a Ferrari lineage of several light blue shades that also includes Azzurro California, Azzurro Dino, and Azzurro La Plata (a nod to Alberto Ascari’s Aregentinian roots), with each historically reserved for clients seeking even more exclusivity and elegance.
While these pastel and silver-inflected blues graced old-school Ferraris like the 250 GT Lusso and 246 Dino, Azzurro Hyperion carries a more modern depth and metallic clarity, and when applied to the sharp, 2,400-pound composite Pininfarina-designed bodywork of an F40, it makes for a truly unique creation. Inside the cockpit, the story continues with blue Alcantara upholstery replacing the familiar red-and-black combination found in most F40s.
This reimagined specification does not compromise this 201 mph supercar’s authenticity, as it was Ferrari Classiche certified in 2013 before any modification, and it retains its original Red Book, Certificate of Authenticity, warranty booklet, and an extensive archive of provenance-related documents.
Being offered through RM Sotheby’s, the car will feature in the upcoming Monterey 2025 sale, and it currently carries a pre-auction estimate between $2.5 and $2.8 million. While the mileage is on the higher side at 19,816 miles, chassis #94647 presents a rare opportunity for collectors to not only acquire a significantly upgraded F40 but also a singular vision of color and composition that connects the supercar’s aggressive design with a sense of individuality and expression. This Azzuro Hyperion example joins just a handful of modified F40s like the 1991 Minty Forty, Aqua Blue Metallic, Nardo F40 “Competizione” and the Liberty Walk F40.
Source: RM Sotheby's, @Ashley Lauzurica
