A rare and extremely desirable 2001 BMW E46 M3 GTR has just appeared for sale in Australia.

This car was brought to life through a collaboration with BMW North America and Tom Milner’s Prototype Technology Group (PTG) to race in the Rolex Sports Car Series.

According to Drive, in 2001 PTG built five M3 GTRs and this example is chassis #005. The first three were prototypes using a stroked 3.4-liter version of the street-legal M3’s inline-six, but this is one of the two powered by a 4.0-liter naturally aspirated V8. This V8 features independent throttle bodies and a double row timing chain, hollow camshafts, a Siemens ECU, semi-dry sump oil system, and dual air intakes.

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This rare BMW made its racing debut on November 3, 2001 at the Daytona 3 Hour Grand Am Finale where it placed 15th in the GT Class and set the fastest lap. It later went on to complete in the 2002 24 Hours of Daytona, 2002 Grand Am 400 mile in California, and the Bathurst 24 Hour in 2003 where it failed to finish after suffering wheel damage.

The Young Timers Garage listing reveals the car was retired after its Bathurst outing and placed in the collection of the current owner. It adds that the car is also being sold with a comprehensive suite of parts and accessories that were originally made available to race teams. No asking price has been made public.