GT40 Gulf/Mirage Racing Car Brings Record $11 Million at RM’s Friday Monterey Sale

By Auto News Log • August 18th, 2012

- RM kicks off its 2012 Monterey auction with record-breaking $11 million sale of the 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car, P/1074

– Used extensively as the camera car in ‘Le Mans’, GT40 sets new world record for the highest price paid for an American automobile sold at auction

– Seven lots achieve individual million-dollar-plus results during RM’s Friday sale session; multiple new world records set

– Auction continues today (August 18) with the offering of an additional 60 investment-quality automobiles

MONTEREY, CA - The iconic 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car, chassis P/1074, used extensively as a camera car in the legendary Hollywood film, Le Mans, sold for a remarkable $11,000,000 before a packed house at RM’s Monterey, California sale last night (August 17), setting a new world record for an American automobile sold at auction.

The first, by serial number, of several lightweight GT40s built for the J.W.A./Gulf team, this exceptional racing car was completed in 1968 and carries an incredible history from new. Finished in the Gulf team colors of Powder Blue with a Marigold stripe, it raced extensively throughout 1968 from Daytona to Le Mans, as well as the Le Mans trials at the hands of Jacky Ickx before it was sold to Solar Productions in 1970 and used in the making of Steve McQueen’s Le Mans. A star attraction of this weekend’s RM sale, the GT40 spurred a spirited bidding war in the room, eventually selling for a sensational $11,000,000 to a standing ovation from the crowd.

The GT40 led a series of seven individual million-dollar-plus sales during Day 1 of RM’s highly anticipated Monterey sale, including an exceptionally rare 1955 Ferrari 410 S for $8,250,000 and the supremely elegant, Pebble Beach ‘Best of Show’ winning 1938 Horch 853A Special Roadster for $5,170,000.

RM Monterey Million-Dollar-Plus Sales (Friday)

1. 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car – $11,000,000 (world record for an American automobile sold at auction)

2. 1955 Ferrari 410 S – $8,250,000 (world record for a Ferrari 410 S sold at auction)

3. 1938 Horch 853A Special Roadster – $5,170,000 (world record for a Horch sold at auction)

4.1938 Talbot-Lago T23 Teardrop Coupe – $2,640,000

5. 1965 Shelby 427 Competition Cobra – $1,485,000

6. 1998 Mercedes-Benz CLK-GTR – $1,100,000

7. 2001 Audi R8 Le Mans Prototype Racing Car – $1,034,000

Additional notable Friday sales included:

· a highly original 1965 Shelby 289 Cobra Mk II, just one lady owner from new, well-surpassed its pre-sale estimate, selling for $792,000;

· a 1974 Ferrari Dino 246 GTS ‘Chairs and Flares’ attracted fierce bidding, realizing a world record price of $467,500; and,

a perfectly preserved, time capsule 1989 Ferrari Testarossa also entered the history books, doubling its pre-sale estimate to sell for a world record $264,000.

RM’s annual Monterey sale continues today, Saturday, August 18 at the Portola Hotel & Spa and Monterey Conference Center in Monterey, CA. In total, some 120 automobiles will cross the auction podium over the two days as part of the most significant auction offering ever presented on the Monterey Peninsula.

Saturday highlights:

The Saturday sale session is set to further continue RM’s strong track record for Ferraris in Monterey with the presentation of a highly coveted 1962 Ferrari 250 GT SWB California Spyder (Est. $7,500,000 – $9,000,000) and an extremely rare 1956 Ferrari 250 GT LWB Berlientta ‘Tour de France’, the very first of the second series 14-louver design (estimate available upon request). Among other notable entries poised for RM’s auction stage on Saturday are a terrific series of racing Porsches, led by the ex-Jo Siffert 1971 Porsche 917/10 Spyder Can-Am Racing Car (Est. $2,900,000 – $3,500,000); a magnificent series of Aston Martins, including a 1955 Aston Martin DB3S Sports Racing Car (Est. $3,500,000 – $4,000,000); and a time capsule 1967 Ford GT40 Mark I, just two private owners from new (Est. $2,300,000 – $2,700,000).

Saturday’s sale will also feature a trio of pedal cars, specially customized by some of the country’s hottest hot rod builders as part of the Petersen Automotive Museum’s Deuce Week celebration of the 80th Anniversary of the ’32 Ford. Proceeds raised from the sale of the pedal cars will help fund the museum’s Robert E. Petersen Free School Bus Program which brings children from underserved schools to the museum to learn about automotive history.

For those unable to attend the event in person, Internet, absentee and telephone bidding options are available, and the auction will stream live online at www.rmauctions.com, providing real-time coverage of the event.

Complete official results for RM’s Monterey sale will be posted online at www.rmauctions.com early next week.

(All figures are reported in U.S. dollars and include the 10 percent buyer’s premium)

Photo caption: The record-setting 1968 Ford GT40 Gulf / Mirage Lightweight Racing Car (credit: Stephen Goodal © 2012 courtesy RM Auctions)

Media contact:

Amy Christie
+1 734 649 9156
amy@rmauctions.com

Source: RM Auctions

 

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