By 1994, Ferrari’s Testarossa had been in production for 10 years. As exciting and beautiful as it was, it was undoubtedly aging. The competition from Lamborghini, Porsche, and even Acura’s NSX was becoming ever more fierce. While the 550 Maranello was in development and waiting to take the reins as Ferrari’s 12-cylinder flagship, Ferrari would release one more iteration of the Testarossa platform to keep its competitors at bay, the F512 M.

Compared to the evolution of Testarossa to the 512 TR, the jump to the F512 M was much more radical than Ferrari’s previous evolution. The most evident exterior change was to the nose; the F512 M was fitted with fixed headlights, rather than the older retractable units. The nose was restyled to bear a resemblance to the F355 and the 456, with new turn signal indicators and fog lamps. The rear also carried cues from its siblings, and it was fitted with round taillights, which were similar to those of the F355 and would become signature Ferrari design cues for years to come. Inside, the F512 M received some minor changes as well, such as a new, more modern steering wheel, adjustable aluminum pedals, a more refined air-conditioning system, and updated trim. New five-spoke alloy wheels were also fitted to complete the look.

The F512 M’s mechanicals received a number of changes as well. Its suspension was updated with gas-filled shock absorbers and a Bosch ABS system was fitted. The engine retained the same cubic capacity and fuel-injection system as the 512 TR, but it also received a number of upgrades internally, resulting in a rise to 440 brake horsepower. Titanium alloy connecting rods and new forged aluminum pistons were fitted, along with a lightened crankshaft, which helped to increase the compression ratio to 10.4:1. A new stainless steel exhaust was also installed, once again helping to raise horsepower.

By the time production ceased in 1996, as Ferrari was introducing the 550 Maranello, 501 examples had been produced, with a mere 75 allocated for the U.S. market, which was a seemingly miniscule amount for a market that generally commanded the largest allocation of any Ferrari production model. As such, the car instantly became collectible in the United States.

This example, finished in iconic Rosso Corsa over Beige, is the 51st U.S.-specification F512 M built. This particular car was first sold by Ferrari of Scottsdale in January 1997 to its first private owner in Fountain Hills, a town just outside of Scottsdale. The car remained with that individual until his passing, and it was then sold once again by Ferrari of Scottsdale. At that time, the car was listed for sale in a local newspaper by Ferrari of Scottsdale in early December 2003, and the advertisement was noticed by the car’s current owner, a Ferrari collector who had been looking to purchase a F512 M for quite some time.

Having found his perfect car, the F512 M was purchased by its current and second owner. Following a timing belt service that was performed by Ferrari of Scottsdale, the car was delivered to its second owner less than two weeks after its purchase. The car remained in Arizona until the spring of 2004, when it was shipped to the owner’s summer residence in New York, where it has remained for the last several years. This incredibly well preserved car has been used very sparingly and has been very well-maintained ever since. It received its last timing belt service in 2012, by Classic Coach in Elizabeth, New Jersey, and it has travelled less than 150 miles since. It is also important to note that the car is accompanied by all of its correct owner’s manuals and books, as well as its original tool set, which only add to the car’s exceptional pedigree.

The most potent and refined iteration of the Testarossa platform is the F512 M, and it is truly an incredible automobile. It was a quantum leap forward over the Testarossa of 1984, and it represents the end of an era for Ferrari. F512 M cars are a rare sight when compared to their predecessors, and they are much rarer still in the United States, making them highly collectible. This particular example is nothing short of spectacular. With its iconic Rosso Corsa over Beige finish, two owners from new, and just 11,000 miles on the odometer, it is surely one of the finest examples of its kind.