If it bears a Ferrari badge, the chances are high that it's an object of beauty, but the same doesn't apply to this Ferrari 365 GT Nart Spyder that is currently up for sale. One of two examples just like it, this extremely odd-looking 365 has a unique backstory. It started life as a 365 GT that was built in 1969, an infinitely prettier car, so where did it all go wrong?

The 365 GT Nart Spyder came about when Luigi Chinetti, son of Luigi Chinetti Sr. (the owner of NART, the North American Racing Team that was also the largest Ferrari representative in the United States), wanted to build a limited Spyder in 1985. Even Enzo Ferrari himself was on board with the idea, and that's how this Nart Spyder came to be. Nart Ferraris like this 275 GTB/4S have previously sold for millions, but none were as unfortunate-looking as the 365 GT Nart Spyder - and even Chinetti Jr. admits as much.

"Unfortunately, the proportions came out the way they did due to mistakes in interpreting the drawings," said Chinetti Jr. - affectionately known as Coco - when speaking to The Car Experience a few years back. "I wanted it a lot lower; it ended up about eight inches too tall. It was a costly mistake in design terms."

The strangest aspect of the car is its droopy nose with a long overhang that appears ungainly. The A-pillar was also longer than it should've been, and the windscreen wasn't raked enough. The 512BB LM, particularly the racing bodywork added by Pininfarina to the LM with the fixed headlights, inspired the nose. On the 365 GT Nart Spyder, the face is anything but graceful, but the styling is not a complete disaster.

"The bit that came out best was the rear, around the lights," said Coco. "And, of course, the interior: it was very simple and executed exactly as I drew it."

Although incredibly exclusive and blessed with a 5.9-liter V12 engine producing 358 horsepower, we're not sure who would drop the €1.3 million ($1.37 million or so) for such an oddball. That's more than double the price of a new Ferrari 812 Competizione A with drool-worthy styling and a sensational 819-hp V12. But, of course, there are many well-heeled collectors constantly on the lookout for motoring misfits with interesting stories to tell.

With Ferrari's permission - a corresponding letter from the Italian marque approving the conversion is provided with the sale, as per Autogalerie - the two examples were built between 1986 and 1988, with the original 365 chassis and suspension being thoroughly modified.

This black one has a champagne leather interior, and judging by the pristine condition of the cabin, we weren't surprised to learn that the car has covered only 5,000 kilometers (3,107 miles). No further Nart Spyders were built after this one, another detail that makes the car quite special.

Is it worth over a million bucks? We'll leave that up to you to decide.