While emotional Scottish winner Ewen Ferguson secured a two-shot victory on 18-under in Munich on Sunday, Melbourne's Micheluzzi produced a brilliant birdie, birdie, eagle finish over the last three holes for a final-round 68 and a joint runners-up spot with England's Jordan Smith.
Ferguson and Smith began the final round tied for the lead at the prestigious European Tour event with Scot Ferguson holding a slender advantage with five holes remaining before a decisive two-shot swing on the 14th, where he made birdie and Smith missed from four feet for par.
That forced Smith to attempt to drive the green on the 16th but his tee shot found the water to effectively end his chances, although he did save par following a penalty drop and also birdied the last to join Micheluzzi in second place after the Victorian's eye-catching late surge.
Scot Ewen Ferguson held off David Micheluzzi to win the BMW International Open. (AP PHOTO)
Micheluzzi had double-bogeyed the second hole and while he made four birdies, he bogeyed the 14th and 15th to stand level par for the day on the 16th tee.
He then holed long putts on that hole and the 17th before firing a remarkable second shot to six feet on the last for a stunning eagle which helped ensure his best DP World Tour finish.
But the 27-year-old revealed afterwards he feared his hopes for a final-day charge would be wrecked by his injury scare.
"Funny story, I tried to open up a door this morning and I tweaked my back and my neck, so I was very concerned of not playing," said Micheluzzi, who is now waiting to see if he's done enough to qualify for next week's Scottish Open.
"But the physios did a great job, got it moving and I think adrenaline kicked in.
"I felt if I gave myself enough chances early I would get a sniff, then what I did on (hole) two I was a bit unlucky with the lie, so I'm just glad with the way I finished.
"Two weeks again in Amsterdam I came third last so to come here and shoot 16 under for the week, I'm stoked."
Meanwhile, Ferguson has now secured a place in the British Open at Royal Troon as one of the top five players in the top 20 on the Race to Dubai who were not otherwise exempt.
"I honestly can't believe it," Ferguson told Sky Sports as he fought back tears.
"The last four holes I felt like I was in a dream. Teeing it up in Troon, the Open Championship is a tournament that everyone wants to play in and I feel like I could do well there and the Scottish Open next week too."
