In an era when modern Ferraris increasingly chase lap times and digital wizardry, and the faint whine of hybrid systems can be heard up and down pitlanes at track days, there’s something intoxicating about a front-engined, naturally-aspirated V12 grand tourer that strips off like Keith Moon at his mischievous best and focuses on the pure, unfiltered joy of driving.

The Ferrari 550 Barchetta Pininfarina is precisely that – a limited-run open-top version of the acclaimed 550 Maranello, built to celebrate Pininfarina’s 70th anniversary and stand the hair up on the back of purists’ necks.

There’s a lot going for this car, yet it feels as though it has slipped below the radar. Rarely seen in public, it delivers drama at a standstill and excitement on the move yet values are, dare we say it, surprisingly sensible. With just 448 examples produced (Ferrari originally intended to build 444, but the number 4 is considered unlucky in Japan and China, so the extra cars were made) the 550 Barchetta is a car of rare presence and purpose, but surprisingly, it has long remained a relatively attainable entry into limited-production, collectible Ferrari ownership.

Since it was launched, in 2000, the market hasn’t always grasped this car’s charms. Many moan about its vulnerability to inclement weather, but surely this is the sort of car that will put a smile on your face come rain or shine? Some point to the later 575M Superamerica, which had an actual roof and everything but Ferrari made more of those (559) and let’s face it, it doesn’t look anywhere as well executed as the 550 Barchetta, for the simple reason it has to accommodate its folding roof which messes with the design of the rear-half of the car. (And most of them featured Ferrari’s F1 flappy-paddle system.) All of which makes this full-throttle, wind-in-your-hair thoroughbred feel increasingly undervalued. At least, it does in our opinion. Here’s why…

Barchetta: a name steeped in history

The name Barchetta – meaning “little boat” in Italian – holds a special place in Ferrari folklore. It was first attached to the 166 MM of 1948, a lightweight, open-top sports car designed for racing on road and track. With its cut-down windscreen and minimalist cockpit, the original Barchetta embodied Enzo Ferrari’s philosophy of form following function.

Over the decades, Ferrari has used the Barchetta name sparingly, reserved for special models that prioritise driver engagement over creature comforts. The 550 Barchetta of 2000 revived this evocative badge, pairing it with a naturally-aspirated V12 and classic front-engine, rear-drive layout – a layout that almost always guarantees a good time behind the wheel in any sports car, let alone a V12 Ferrari. Its mission was clear: deliver a visceral driving experience without distraction.

Background to the 550 Pininfarnina Barchetta

By the late 1990s, Ferrari was enjoying a resurgence. The 550 Maranello, launched in 1996, marked a return to front-engined V12 GT cars, a format the marque had left behind since the 365 GTB/4 ‘Daytona’. The 550 was praised for its balanced handling, potent 478bhp 5.5-litre V12, and long-legged cruising ability.

At the 2000 Paris Motor Show, Ferrari unveiled the 550 Barchetta Pininfarina. Created to mark 70 years of Pininfarina’s partnership with Ferrari, the Barchetta featured a chopped windscreen, bespoke rear deck with twin ‘speed humps’ behind the seats, and a rudimentary canvas hood that Ferrari itself admitted was intended for “emergency use only”.

Mechanically, it was largely unchanged from the Maranello coupé, retaining the 478bhp V12 and six-speed manual gearbox, which is no bad thing at all. But with no roof, a lower windscreen, and the promise of open-air performance motoring, the Barchetta delivered a more visceral take on the GT experience.

Production was strictly limited to 448 numbered cars – some in right-hand drive, making it appealing to collectors in the UK and Japan – and sold to Ferrari’s preferred clientele. Each example was individually numbered, with subtle variations in trim and specification, although all wore bespoke 19-inch split-rim wheels and unique badging.

Seeing one up close today, it is every inch the show-stopper it was intended to be. The proportions are perfect, the sensation of speed from those leather-wrapped roll hoops and body-coloured speed-humps signalling its rarity. Lift that rear boot cover and there are 550 Barchetta-edition matching racing helmets and a Pininfarina-designed luggage set, as well as the infamous cabin tonneau, and the amount of space on offer is (surprisingly) better than laughable, making it vaguely practical for (sunny) roadtrips.

Inside, that sense of occasion flows into the part-carbon-fibre steering wheel, carbon-topped gearlever with its signature open aluminium gate and the excellent carbon-backed, manually adjustable sports seats. The driving position is good, the aluminium pedal set well spaced and the view through that chopped windscreen perfectly clear. There are a few practical touches, like small door bins, a recess in the centre console and netting between the seats on the rear bulkhead, plus a numbered and Sergio Pininfarina-signed plaque on the dashboard and the familiar Pininfarina script flowing across the centre console.

Driving the 550 Barchetta: what the press said at the time

Factory-fresh 550 Barchettas were not subjected to full-bore road tests. But the 550 on which it is based was, and that car was a big hit.

In 2004, looking back at the 10 greatest driver’s cars from the past decade, evo magazine named the 550 Maranello the best of the bunch. The magazine wrote: ‘The V12 engine was and is a wonderful thing, delivering a creamy torrent of power and torque, but it was the handling that had road testers in raptures. Here was a Ferrari supercar that could be driven with the same brio as a compact, lightweight sports car,’ the magazine said. ‘There’s never been a supercar that’s so exploitable and rounded in its abilities’.

The 550 Barchetta takes those abilities and distils them into a roofless package that amplifies the experience. This is a car born of an age before distractions, so it’s free from touchscreens, podcasts or navigation; instead you just focus on the task of driving it, fast. Without a roof or significant rollover protection, the Barchetta feels wild and unrestrained, amplifying the sense of speed and occasion. Which is very much what you’d hope for from a sports car like this. The factory claimed 0-62mph in 4.4 seconds and a top speed of 186mph, which is fast for 2000, and more than enough get up and go to make every trip an occasion in its own right.

The V12’s linear, soaring power delivery and the tactile engagement of the open-gated manual gearbox were repeatedly singled out for praise, and with a kerbweight just the right side of 1700 kilos it is never a daunting thing in which to press on. The only negative is said to be the comparative lack of torsional rigidity compared with the 550 Maranello.

Oh, and there's that famously compromised canvas hood – little more than a token gesture – means the car is best enjoyed in fine weather, reinforcing its status as a special occasion machine, when the cobwebs need blasting away. As one owner told PistonHeads, “TheFerrari roof is utterly useless and ugly… I never used the original roof, ever!So, a "proper" roof is a must. In the end, I got an aftermarket softtop from [German company] Michalak.”

550 Barchetta market overview and values

For years, the 550 Barchetta lingered in the shadow of other limited-run Ferraris. Its curious position as a luxury GT with supercar performance and roofless impracticality made it a niche choice, and values have fluctuated over the past two-and-a-half decades.

Only 42 were built with right-hand drive. A decade ago, clean examples could be found for around £130,000. Today, well-presented cars with low mileage and a full Classiche certification are commanding between £220,000 and £280,000 in the UK market, with the very best — particularly those with unique provenance or factory options — nudging above £300,000. According to The Classic Valuer, which tracks sales of auctions, the 550 Barchetta has averaged nearly £293,500 since 2020. At the time of writing, the specialist car dealer Simon Furlonger is retailing a 12,000-mile, right-hand drive example in Rosso Barchetta for £284,990.

Compared to the 575 Superamerica or modern limited-edition Ferraris, the 550 Barchetta still feels relatively undervalued. Hagerty said it’s a ‘a 21st century version of the Daytona Spider, and that’s a $2M car’ which is a thought-provoking point. Its combination of rarity, naturally aspirated V12 character, six-speed manualtransmission, and links to Ferrari’s romantic Barchetta tradition make it a compelling proposition for collectors and enthusiasts alike.

As values for analogue-era Ferraris with manual gearboxes continue to firm up, the 550 Barchetta’s star seems destined to rise. For those who appreciate its raw, elemental appeal – and aren’t deterred by its eccentricities ­– it represents an epic open-air V12 experience from Maranello.

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