In late 2003, Australian Nations Cup Championship team Mark Coffey Racing purchased a 550 GT from Team Rafanelli to run in the 2004 Australian Nations Cup Championship. The appearance of the V12 Ferrari in Australia was eagerly awaited by fans of the category and the car was to be driven by popular young Danish driver Allan Simonsen who prior to the championship had raced the car alongside David Brabham to win the Bahrain GT Festival. In what was a limited campaign (the car only raced at 4 of the 7 rounds), Simonsen finished 7th in the championship against cars such as the championship winning Lamborghini Diablo GTR, Chrysler Viper ACR, Porsche 911 GT2 and the controversial 7.0 litre Holden Monaros. Simonsen broke the class lap record and scored a race win in the first round of the season at the Adelaide Street Circuit.