In 1996, the first Farr 40 One Design was launched at Carroll Marine in Newport, Rhode Island.

Featuring the highest level of competition with the Olympic, America's Cup and Volvo Ocean Race Veterans amongst this strictly Owner/Driver Class.

In 2007, the European Circuit added three new events—the Nordic Farr 40 Championship in Hankø, Norway (July 5–8); the Skaw Farr 40 Race Week in Skagen, Denmark (July 12–14); and Rolex Baltic Week (August 17–19 in Neustadt, Germany)—in addition to the Rolex Capri Sailing Week (May 16–19 in Capri, Italy) and the Rolex Settimana Della Bocche (June 6–9 in Porto Cervo, Italy), where 21 boats vied for the Farr 40 European Championship.

Many teams have planned to participate in the entire European circuit with an eye toward the ultimate competition: the Rolex Farr 40 Worlds.

Five recent (2001, 2003, 2007, 2010 and 2011) Canada's Cup international match racing series have been sailed in Farr 40s.