1978 Ferrari 400

This UK market Ferrari 400 automatic with its six Weber carburettors was ordered from the Maranello Concessionaires motor show stand at the Daily Express Motorfair of October 1977.

The man who placed that order was Sir Max Aitken, a highly decorated WW2 RAF pilot and at the time rightfully the 2nd Baron Beaverbrook, although he chose not to claim the title. His father, the 1st Baron Beaverbrook, was the famous Anglo Canadian newspaper proprietor who played a key role in Winston Churchill’s wartime government.

The history file contains the details of the purchase and the correspondence between Maranello Concessionaires, Sir Max and the Ferrari factory. The car was delivered in March 1978 and registered under MAX 777.

After the 2nd Baron’s death the car passed to his son, the 3rd Baron Beaverbrook, who amongst other things lists motor racing as one of his passions. Indeed, he won the European GT Championship in 1998 with Porsche. He also won trophies for powerboat racing. The 3rd Baron kept the car until 2002 when it was sold to its third owner via Terry Keys Motorsport of Silverstone.

The current owner –our vendor – has owned the car since June 2008 when it was purchased with a view to a gradual restoration.

Unfortunately, in 2009-10 the collapse of the world’s financial system forced him to focus on his business, so the car was put away in a garage, blanketed and double-covered. But, due to ill-health, it has remained stored away for well over a decade and having come to the realisation that he no longer has the requisite energy to restart the restoration he has decided its time to sell.

The exterior colour is known as Marrone Collarado. The car has consistently good shut lines and the doors still close with a reassuring clunk. There appears to be no material damage to the body panels or any missing fixtures or items of trim. The bright work around the car is in good condition as are the black bumpers and door mirrors.

The car still sits on its original 15-inch cast alloy wheels that appear generally solid although would benefit from renovation and are shod with BF Goodrich tyres all round.

The paintwork requires some explanation; the car has spent some 13 years in a state of slumber in its garage and it appears that during this time the summer heat has caused moisture hidden in the paintwork to expand. The result is the whole car looks like it has a bad case of the measles. The vendor, while disappointed this has come to pass, had intended to complete his restoration of the car’s mechanical parts and to then just drive and enjoy the car for what it would be –a wonderful but slightly quirky Ferrari! He took the view the paintwork rectification could wait until another day, but what do you think?

In 2008/09, the vendor successfully completed a full restoration of the interior, including new Wilton carpets and beautiful new black nappa leather to the whole dashboard and centre console. The centre console switch control panel woodwork has been restored and re-lacquered. The seats have all been restored as have the door cards and all other items of leather trim. Every bulb across the whole dashboard has also been replaced. In fact, the whole interior presents beautifully and is a wonderful place to sit. The car now sports a handsome wood rim steering wheel, however the original Momo steering wheel comes with the car if the new owner prefers to change it back to original. The only work still required to the interior involves completing the electric door mirror wiring in the centre console and installing the last piece of carpet behind the driver’s seat. All required parts come with the car.

Inside the boot, the rubber seal looks OK. The boot carpet looks in good condition with just light soiling and underneath the floor is the spare alloy wheel and tyre. Rarely, also present is the original black Ferrari tool case containing Ferrari branded spanners along with other tools and spares. The vendor has removed the hinges and catches to this case with a view to having them re-plated. But they remain with the case and can be refitted once the plating has been completed. There is also a jack and wheel brace in its original brown leather carrying bag.

Having completed the restoration of the interior the vendor then turned his attention to the engine bay. He started to strip the top end, including the carburettors, exhaust manifolds and various ancillaries. He then purchased many of the belts, gaskets, hoses, etc required to complete a top end rebuild and all these brand new parts, purchased from Maranello Concessionaires in 2009, come with the car.

As the car hasn’t been touched since 2009/10, the engine remains in this stripped down state to this day. All parts removed from the car have been carefully stored and come with the car.

The automatic transmission was Ferrari’s first, for which they turned to the three-speed THM 400 Hydramatic box by GM. This was the gearbox of choice for manufacturers like Rolls Royce, Jaguar, etc, although it was modified by Ferrari to deal with the additional torque. It comprises a hydraulic torque converter, five clutches, a roller clutch, an intermediate sprag, a planetary gear train and a hydraulic system. In the Ferrari service manual for this gearbox it contains a general description of the box’s operation. This includes a description of 1st gear, or “Low”, wherein it says “…must be selected only when driving speed is lower than 100mph”!

Underneath there is rust across the square section chassis outriggers that will have to be dealt with. The tubular chassis itself looks solid. The car has been sat idle for around 13 years and so as you would expect the suspension is covered in dust and dirt and cobwebs but in any case will require a complete overhaul, indeed as was always intended by the vendor.

Potential bidders are encouraged to scrutinise the detailed photos of the underside or better still, arrange a personal inspection at our Oxfordshire HQ.

As well as the aforementioned correspondence with the Ferrari factory and Maranello Concessionaires, the history file contains the owner’s book pack in the original leather wallet, although this has been given a homemade leather closure piece that could be improved! It includes the owner’s manual, service directory and the Pioneer instruction book for the original stereo system that is still fitted to the car. The service book is also present and contains many main dealer stamps from its time under the ownership of the Barons Beaverbrook.

The V5 documentation relating to each of the ownerships is all present.

The vendor and the previous owner have between them compiled history logs that can be viewed in the documentation gallery. These list services and MoTs and other significant events. There is also a selection of MoT certificates and a number of old tax discs, including from when it was registered under MAX 777.

The invoices relating to the new spares that are included with the car are also present along with some drawings of the electrical system and a Ferrari 400 workshop manual.

This will be a rare car once finished. In all its various incarnations, the 400 carburettor model is the rarest, with just 502 produced of which 355 were automatic. Of these, 137 were built with right hand drive and just 85 of these were destined to come to the UK.

It has an even rarer ownership history, once being the property of a Lord of the Realm who was highly decorated for his bravery and flying skills during WW II. At under 57k on the odometer it will also be considered very low mileage for its age and in the era of the ULEZ the car qualifies for historic status.

In a 1984 article on the Ferrari 400, the famous motoring journalist, LJK Setright described how he considers it to be “clothed in what remains in my memory’s retina one of the few most beautiful, and one of the two most elegant bodies ever to leave the lead of Pininfarina’s pencilling vision.” Some praise indeed.

This intriguing “barn find” restoration project could be yours for between £15,000 and £20,000.

Viewing is always encouraged, and this particular car is located with us at The Market HQ near Abingdon; to arrange an appointment please use the ‘Contact Seller’ button at the top of the listing. Feel free to ask any questions or make observations in the comments section below, or try our ‘Frequently Asked Questions’.