Why The Lamborghini LM002 ‘Rambo Lambo’ Is A Collector’s Dream

The most notorious Raging Bull is on a bull run. The Lamborghini LM002, nicknamed the “Rambo Lambo” after Rambo star Sylvester Stallone’s rumored love of the brutish Italian 4×4, is worth more than ever. Because only 328 were sold over its 6-year lifetime, it can be exceedingly difficult to find truly mint-condition examples, like this low-mileage model that underwent a concours restoration, according to vintage car seller Curated. Just 6 months ago, concours-worthy examples carried an estimated value of $467,000, according to classic car insurer Hagerty. In that short time, the top dollar has surged past the half-million mark.

Launched at the Brussels Auto Show in 1986, the LM002’s militaristic roots can be traced back to 1977, when Lamborghini began developing a large, rear-engine all-terrain vehicle dubbed the Cheetah LM001 with the hopes of winning a U.S. Army contract. The engine’s placement detracted from handling and interior space, so the LM001 never amounted to more than a prototype.

But ex-Maserati designer Giulio Alfieri saw potential when he was tasked with revision. He moved the Countach-sourced 5.2-liter V12 to the front, which improved handling and weight distribution while opening up the interior to accommodate six passengers in a luxurious style becoming of energy executives and sheikhs. As such, it was appointed with cutting-edge proprietary Pirelli Scorpion run-flat tires and a precursor of today’s GPS navigation systems.

While it may have been considered a failure during production, pristine LM002 valuations have jumped over 25 percent, from $408,000 to $519,000, in the past 5 years. And according to Hagerty’s tracking of Lamborghini LM002 sales since the early 1990s, the LM002’s top-5 highest hammer prices all cracked $400,000, and four of those were sold in the past five years. At an RM Sotheby’s auction in August of 2024, a 1989 LM002A 4×4 model with just over 23,100 miles on the odometer set the bar extremely high with a hammer price of $703,500, With a mere 6,700 kilometers clocked by a single owner on the odometer, Curated’s Lambo Rambo might just become the second ever to cross $500,000. Learn more about it below:

Completed on July 13, 1990, and delivered new on November 20 to Chrysler Italian Imports Inc. in New Jersey, it was part of a special two-car order that also included a Diablo, sold together for $382,210. Both vehicles were delivered in June 1991 to their original owner, Nasir Khalidi of Florida. Finished in Bianco Perlato over a Rosso and Bianco interior…. the truck remains unmodified from its factory configuration. Powered by the L520i fuel-injected V12, the same engine used in the Countach. All factory lighting remains intact and operational. The cargo area includes its original removable tonneau cover, color-matched spare tire housing, and rear storage compartments.

Mechanically, the LM002 has received regular fluid, belt, and filter service in addition to an extensive restoration by Evans. Evans is considered as one of the main experts in LM002s in the country. All switchgear, including HVAC controls and power window buttons, remains fully functional. The original three-spoke steering wheel and instrumentation are in similarly clean condition.

No price was listed, but if you want a badass classic car that’s also a rock-solid investment, inquire here.