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Police issued a wanted picture of the burly man wearing glasses and a dark blue blazer who made off with the 1985 Ferrari 288 GTO on Monday in Duesseldorf.
The car, painted in classic Italian racing red, was recovered a day later in a garage where the thief had tried to hide it, but the suspect remained at large.
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The theft happened as the would-be buyer and seller stopped to swap drivers.
While the car seller was outside the vehicle, the man slammed his foot on the accelerator of the 400-horsepower vehicle and roared off down a country road.
The man, who had described himself as a car collector, had arrived for the test drive by taxi.
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