Ferrari has taken the wraps off the latest creation from its "one-off programme". Dubbed the Ferrari SP38, the new model was built for one of the brand’s "most dedicated" customers.

Based on the chassis and running gear of the 488 GTB, Ferrari says the SP38 was designed with the "specific vision" of the client, who possesses a "deep passion for racing". The all-new body is covered in a three-layer metallic red and marks "a radical departure from the language aesthetic" of the 488 GTB, according to Ferrari.

When compared with the 488, the visual mass of the SP38 appears to rest over the rear wheels thanks to the wedge design. Ferrari says the inset headlamps were designed to be as thin as possible. At the front, there’s also a slim bumper lip that the brand says was inspired by the 308 GTB. Take a look at the profile and you’ll find the 488 GTB’s air scoop is completely concealed as the sheet metal folds in on itself.

Despite the rear air intakes being repositioned, the automaker claims the air flow to the intercoolers has been maintained. The rear glass over the engine bay has been replaced by a flip-up carbon-fibre assembly with shutlines slashing the flanks, which Ferrari says pays homage to the F40.

Naturally, there are no official details on the vehicle's owner nor how much Ferrari received for the one-off creation. The special Ferrari will be on display at the 2018 Concorso d'Eleganza Villa d'Este on 26 May 2018.