Introduced at the November 1963 Paris Auto Show, the Ferrari 250 LM was a coupé version of the 250 P, intended as Ferrari's new GT-class racer to replace the 250 GTO. However, due to insufficient production numbers, it failed to meet the FIA's homologation requirements for the Group 3 GT class and was classified as a prototype until its Group 4 Sports Car homologation in 1966. A total of 32 units were built from 1963 to 1965, mostly equipped with 3.3-litre engines from the 275 P. Despite being more prototype than production car, the 250 LM enjoyed considerable racing success with both factory and private teams until 1967. Its most notable achievement was winning the 1965 24 Hours of Le Mans, Ferrari's last victory there until 2023. The 250 LM, with its historical significance and rarity, is highly valued by collectors, often fetching over $10 million at auctions and frequently featured in prestigious car events.