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By Robert Frank

What do you buy for the car collector who has everything?

Apparently, an RUF CTR-3.

Ralph Lauren, the fashion mogul and vintage-car collector, recently took delivery of an RUF CTR-3, according to people familiar with the deal. Lauren was snapped by the car-parazzi taking it for a spin recently in the Hamptons.

A spokesman for Lauren declined comment.

For super-rich car collectors, the RUF is one of those cult brands with a storied past and a reputation for high performance. Germany-based RUF Automobile has modified Porsches for 50 years, pimping them out with a super-charged flat-six cylinder engine and bulking up the frames with its own wings, fenders and vents.

The CTR-3 has a base price of $680,000 but most of them top $700,000 with customized specs. This is not merely a souped-up Porsche; the CTR-3 is built more from scratch. Only the front end and part of the engine originate from a Porsche 911.

Its swooping body with a long, Le Mans-style tail is made from carbon fiber. The car has a 777-horsepower engine and, according to the company, can "go faster than anyone can drive."

(Read More:Amazing Supercar Experiences)

RUF has sold three of its CTR-3s in the U.S., but has only sold 25 since the product was launched in 2007. RUF has other models, of course, but only makes and sells about 30 to 35 cars a year.

"Our customers appreciate the performance of these cars, it's like a true race car," said Estonia Ruf of Ruf Automobile. "For people who like race history, this car has lines that evoke that past but it also has elements of a new model. It's not retro. But the lines are very beautiful."

The perfect new car, in other words, for a man who already has a garage full of vintage Ferraris and Bugattis.

(Read More:Fabulous Vintage Ferraris)

—BY CNBC's Robert Frank. Follow him on Twitter: @robtfrank