On May 28th, 1992, McLaren unveiled the F1, their most prized creation at the time. Back then, everyone hailed it as one of the best cars. It, along with a few other cars, arguably ushered us into the era of modern supercars. At the time, the F1 came with a 6-liter V12 engine that produced 600bhp and could hit a top speed of 240 mph.
However, its price that from $800,000 to a million dollars, was not so well received. This price barrier and the fact that McLaren made only 106 of these have made this car quite rare in modern times. Probably why the F1 that recently got auctioned managed to set a record price and ended up being the most expensive F1 ever sold.
On August 13th this year, a Creighton Brown McLaren F1 fetched $20.5 million in an auction held at Pebble Beach. Gooding & Co. was responsible for this auction attended by collectors who were anxiously waiting for years to get a chance to buy their favorite classic car. The auctioneers previously estimated that the car would only go for a mere $15 million. However, it blew away all expectations when it sold for the record price.
Initially, there was a perception that the Coronavirus pandemic had slowed things down. But, this particular sale has just cemented the fact that there is no slowing down car fans. Though, this price wasn’t attained due to some misguided nostalgia.
What’s the reason, then?
The real reason why this car managed to fetch that price was due to the fact that the previous owners only drove it for 241 miles to date. This mint condition, combined with the rare color and a widely acclaimed classic car, forced the crowd to spend big bucks on it.
This sale toppled the previous king from 2019 – a 1994 McLaren with unique LM racing spec, which sold for a staggering $19.8 million.
It’s not clear who actually bought this car. But, this auction made it clear that McLaren F1s are among the best performing cars in terms of price appreciation, which makes sense since Jay Leno calls his F1 purchase his best investment.
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