Ferrari had been perfecting its platform for mid-engine, V-8 powered sports cars since the 308 GTB was introduced in 1975.

The 208 model line was launched in 1980 with an eye on Ferrari’s domestic market, as Italian value added tax rates were reportedly doubled for engines greater than 2.0 litres—resulting in the development of a small-displacement V-8.

The 208 went turbocharged in 1982, and it was made alongside the naturally aspirated, 2.9-litre 308 sister model.

Shortly after the 308 was replaced by the 328 in 1985, the GTB Turbo—and “targa”-top GTS Turbo—replaced the 208.

The new model used an evolution of the 208’s 2.0-litre turbocharged V-8, adding an intercooler and adopting a new turbocharger.

Only 308 examples of the GTB Turbo were made between 1986 and 1988, according to marque expert Marcel Massini.

Finished from new in the classic Ferrari combination of Rosso Corsa over a Nero leather interior, this example is understood to have been acquired by its consigning owner i...