McLaren F1 breaks auction records

This 1995 McLaren F1 sold for $ 27 million, setting a new record price

A McLaren F1 exceeded expectations, grossing a record $ 20.46 million ($ 27 million) in Gooding & Company’s Pebble Beach auctions.

The BMW V12-powered McLaren, designed by legendary Gordon Murray and expected to sell for $ 15 million, attracted a bidding war largely thanks to its pristine condition. The car, chassis # 029, has been a private collection in Japan for most of its existence and has driven less than 400 km. It also still has its original Goodyear tires, tool box, luggage, manuals and TAG Heuer watch.

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It’s hailed by many as the best car ever, but ironically, McLaren’s decision to build just 106 F1s between 1992 and 1998 was largely driven by a lack of demand. Since then it has become a must-have for many collectors and has raked in huge sums of money in recent years.

This McLaren F1 has less than 400km on the clock after 26 years

At the 2019 Pebble Beach auction, an LM spec converted F1 from 1994, then owned by New Zealand gentleman racing driver Andrew Bagnell, sold for $ 19.8 million; the previous record for an auctioned McLaren.

To put in context what a huge sale it was, Goodings & Company sold 172 cars for a total of $ 107 million at Monterey Car Week over the weekend. That means the McLaren made up nearly 20 percent of the total volume compared to the other 171 cars. And it wasn’t a weak lineup of other cars either. Other cars sold by Gooding & Company over the weekend included a 2015 Porsche 918 Spyder with Weissach package, a 92 Ferrari F40, an 89 Lamborghini Countach and a 63 Mercedes-Benz 300 SL Roadster.

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The ‘Silver Surfer’ collection by the late Neil Peart, drummer for the rock band Rush, also went under the hammer. His stunning collection fetched huge dollars, his’ 70 Lamborghini Miura costing $ 1.3 million, his ’64 Shelby Cobra costing $ 1.1 million, and his ’63 Chevrolet Corvette Split-Window costing $ 368,000.