Maranello, Italy - It doesn't get more special than this: the latest creation from Ferrari’s One-Off programme, a car so unique it doesn't even have a name, just a project number.

Quite possibly the most beautiful Ferrari we've ever seen, it was created by the Ferrari Design Centre for a very special customer with a deep-seated passion for motorsport, as a dedicated track day special that's also (just barely) street legal. The hand-made SP38 is based on the platform and running gear of a 488 GTB - but that's where any resemblance ends to Ferraris as we know them.

Drawing inspiration from the F40, the all-new body (there's not a single original panel on this car) concentrates its visual mass over the rear wheels, tapering sharply towards the front to place even more emphasis on the dramatic front wheel-arches. The specially made headlight clusters were designed to be as narrow as possible, with the daytime running lights moved to the slim, aerofoil front bumper.

The radical waistline, with the sheetmetal folding in on itself below the windowline and sweeping up to the rear wheel-arches, both conceals and channels fresh air into the dual intercooler intakes below the rear side windows.

The flip-up carbon-fibre engine cover has three transverse slots to evacuate hot air from the engine compartment, and sweeps down to link seamlessly to a low-mounted separate spoiler, with just a hint of the iconic squared-off tail of the F40, and integrated rear diffuser.

The SP38 is finished in a unique three-layer metallic red, with full Tailor Made cabin trim, designed and built aroujnd the customer. It will be on public display at the upcoming Concorso d’Eleganza Villa d’Este on Saturday 26 May, before being delivered to its proud owner - who has, incidentally, already driven a number of hot laps on Ferrari's Fiorano test circuit, across the road from the factory.

It may be unique, but the SP38 is no trailer queen.

IOL Motoring