At Villa d'Este Concorso d'Eleganza 2026, we got up close with what may be the most unique BMW M1 in existence — a gray example with a one-of-a-kind cognac cloth-and-leather interior that nobody wanted when new. The car was originally gifted to Jochen Neerpasch, the father of BMW M and motorsport, who has admitted he wishes he never sold it. We sit down with Tom (head of BMW Group Classic) and the current owner to trace the full history: how the M1 was conceived as a homologation special, why Lamborghini's financial troubles almost killed the project, how the tooling was secretly rescued, and how this specific car traveled from Munich to a private collection in Hong Kong — before Chinese authorities threatened to destroy the entire collection and forced it back to auction. We also pop the engine lid on the M88 inline-six, discuss street tune (287 hp) vs. race tune (470–1,000 hp), and explore the legendary Pro Car Series that put the M1 on the world stage alongside Formula 1 drivers l...