Ferrari 512 Price Guide

The Ferrari 512 family covers fifteen years of flat-twelve mid-engined Ferraris; from the 512 BB launched at the 1976 Paris Salon through to the F512 M of 1994–1996. Three models carry the 512 designation in their name; a fourth uses ‘F512 M’ with the same numeral.

All use variants of the same 4,943cc horizontally-opposed twelve-cylinder engine mounted amidships, in Pininfarina bodywork that evolved substantially across the family’s life without ever departing from the fundamental architecture established at the start.

The 512 BB (1976–1981)

The 512 BB was announced at the 1976 Paris Salon, replacing the 365 GT4 BB and enlarging its flat-twelve from 4.4 to 4.9 litres; five litres, twelve cylinders, hence 512. The engine produced a claimed 360bhp from four triple-choke Weber carburettors. The Pininfarina body was revised from its predecessor with a distinctive NACA duct on the sill, a body-coloured side stripe, and revised rear treatment. The five-speed transaxle sat beneath the engine in an Issigonis-style stacked configuration, placing the centre of gravity higher than a pure transverse arrangement but keeping the wheelbase usefully short. Only 929 were built, of which 101 were right-hand drive. No USA-market versions were ever produced. The 512 BB is the most sporting and most sonorous of the family: the carburettor intake note and the mechanical directness of the engine give it a character that later injection cars approach but cannot replicate.

The 512 BBi (1981–1984)

The 512 BBi, introduced at the 1981 Frankfurt Salon, replaced the Weber carburettors with Bosch K-Jetronic mechanical fuel injection, the ‘i’ suffix marking the change. Maximum revs dropped slightly from 6,800rpm to 6,600rpm, and the power remained at around 340bhp, but the injection provided more consistent delivery across the rev range and considerably easier cold-starting. External changes were deliberately subtle: a revised rear bumper, a black-finished NACA duct, and a body-coloured door mirror distinguished it from the 512 BB. Air conditioning and central locking became standard. Exactly 1,007 examples were produced in the chassis number range 38121 to 52935.

The 512 BBi was replaced in 1984 by the Testarossa, which used a developed version of the same flat-twelve engine but carried no 512 designation.

The 512 TR (1992–1994)

The 512 TR returned the 512 numeral in 1992 (eight years after the BBi’s discontinuation) as Ferrari substantially revised the Testarossa that had succeeded it. TR stood for Testarossa, and the 512 reference acknowledged the engine’s lineage. Pietro Camardella at Pininfarina updated the body with revised front and rear treatment and five-spoke alloy wheels. Power rose to 428bhp through revised cylinder heads and combustion chambers. More significantly, the suspension geometry was substantially revised: the Testarossa’s tendency toward oversteer under provocation was addressed by altered geometry that made the 512 TR a considerably more exploitable car. Around 2,280 were built, making it the most numerous 512-designated model.

The F512 M (1994–1996)

The F512 M was presented at the 1994 Paris Salon. It was the final evolution, the M suffix standing for Modificata, the designation Ferrari had used on racing car upgrades since the early 1970s. It was the most thoroughly revised version of the flat-twelve Ferrari and the one with the shortest production run: approximately 500 cars. The most visible change was the deletion of the retractable headlamps (a Testarossa signature carried through to the 512 TR) replaced by fixed homofocal units under glass covers, improving night-time visibility and giving the nose a more contemporary appearance. The engine lid became entirely body-coloured, and the Testarossa script on the engine cover was replaced by F512 M badging. Power reached 440bhp. The F512 M was simultaneously the most powerful and most refined 512-family car, and the rarest.

What Goes Wrong

The flat-twelve’s cam belts require engine removal to change. This is a major scheduled service item whose cost must be budgeted before any purchase, and whose history must be documented on any car under consideration. The cooling systems across all variants require meticulous maintenance: these engines run hot, and correct thermostat condition and coolant specification are not optional.

The Bosch K-Jetronic injection on the BBi requires period-specific specialist knowledge when it develops faults.

All four cars demand a specialist who understands flat-twelve Ferraris specifically; the combination of the engine’s complexity and its specific failure modes is not common knowledge in a general workshop.

Buying

The 512 BB is the most characterful and the rarest of the carburettor cars; the 512 BBi the most practical of the pair. The 512 TR is the most capable to drive and the most numerous. The F512 M is the collector’s specification; rarest of the four, most powerful, and already appreciating as buyers recognise it as the definitive conclusion of a twenty-year engineering story. Cam belt documentation and Ferrari Classiche certification are the primary credentials to demand on any purchase.

The Ferrari 512 family represents the flat-twelve mid-engine Ferrari at its most developed. Four cars that collectively trace the complete arc from carburettor sports car to mature grand tourer.