Jay Leno drives a 1971 Ferrari 365 GTS/4 Daytona

Jay Leno doesn’t own Ferraris, but he still likes to show them off on his YouTube show, Jay Leno’s Garage. This episode features a true Prancing Horse classic – a 1971 Ferrari 365 GTS/4 Daytona.

The car is owned by Ferrari collector David Lee, who also garaged his Ferrari 288 GTO and converted Dino for previous episodes. While these cars are impressive, a Ferrari collection wouldn’t be complete without a Daytona.

1971 Ferrari 365 GTS/4 Daytona in Jay Leno's garage

1971 Ferrari 365 GTS/4 Daytona in Jay Leno’s garage

The Daytona was introduced in the form of a 365 GTB4 coupe at the 1968 Frankfurt Motor Show as a replacement for the 275 GTB4, with a distinctive take on the classic Ferrari front-engined look in contrast to the mid-engined Lamborghini Miura then vying for the attention of the wealthy of the world.

Ferrari didn’t officially name this car “Daytona”. That started out as an unofficial nickname in recognition of Ferrari’s 1-2-3 win at the 1967 24 Hours of Daytona, but soon stuck. Ferrari also developed a racing version in 1971, the GTB4 Competizione.

The 365 GTS/4 Cabrio version was announced in 1969 at the Frankfurt fair. It got a folding top but kept the same mechanical package as the coupe. That means a 4.4-liter V-12 with 347 hp and 318 lb-ft of torque mated to a 5-speed manual with gated shifter.

Ferrari sold the coupe and convertible Daytona models through 1973, with the convertible accounting for 122 units, or about 10% of sales, according to the automaker (the car shown here is one of 18 painted yellow). This rarity makes the convertible much more valuable. Coupes are generally worth $600,000 to $700,000, but convertibles can command $4.5 million, Lee said in the video.

The higher value of convertibles has prompted some owners to cut off the roofs of coupes, but this car is the real deal. Watch the full video for a rare opportunity to see it in motion.