SCM Analysis
Detailing
| Vehicle: | 1994 McLaren F1 |
| Years Produced: | 1994–98 |
| Number Produced: | 64 road cars, seven prototypes, 28 GTR racing cars, five LM road cars, two GT road cars. Total 106 |
| Original List Price: | £540,000 ($800,000 equivalent) in 1994 |
| SCM Valuation: | $15,620,000 |
| Tune Up Cost: | $15,000 |
| Chassis Number Location: | Below carpet on right-side cabin floor |
| Engine Number Location: | On right hand bank (cylinder 1 to 6) towards the rear section of the block |
| Website: | http://www.cars.mclaren.com |
| Alternatives: | 1995–97 Ferrari F50, 1992–95 Bugatti EB110, 1991–93 Jaguar XJ 220 |
| Investment Grade: | A |
This car, Lot 261, sold for $19,805,000, including buyer’s premium, on August 16, 2019, at RM Sotheby’s auction in Monterey, CA.
You’ve read the auction house’s prose above, but coincidentally, the anonymous German ex-owner who commissioned the Le Mans modifications is an old friend and client and agreed to share the full backstory:
“I had a high-speed accident with another F1, chassis 033, on May 18, 1995, flat out on the A3 Autobahn, 500 meters away from Bernd Rosemeyer’s deadly 1938 crash location. Doing around 375 km/h (233 mph) on an 18-km (11.2 miles) straight, the F1 lifted up its tail, started spinning and smashed backwards into the barrier.
“On a previous occasion, I had been driving back to Germany after competing with a Porsche in a BPR race at Donington. The right rear tire (Goodyear) blew. One hour driving around 300 km/h (186 mph) and a night run from Dover to Köln had been too much. F1033 was sent to McLaren and came back on a new set of Michelins. The following test drive ended after 50 km (31 miles) in the crash, which totally destroyed F1033, due to a combined lack of downforce and a technical issue while changing tires. Ron Dennis and I reached a gentleman’s agreement and I received a new car, F1038.
“I observed its high-speed handling very carefully but was still dissatisfied and sold it. There was no road car at this time generating this sheer driving pleasure at “normal” speed, so I asked Harold Dermott at McLaren if he could convert a road car to high downforce like the GTR racer.
“McLaren agreed, so I bought F1018, a normal F1, from Japan. As I was afraid that the drag would reduce top speed, I asked if the race-engine upgrades could be fitted as well, but without air restrictors. This was difficult, because they said that a new engine mapping was necessary. But in the end, it was performed.
“The result, including the color combination, was my choice. It was a great-looking car. But driving it was a different story. The bigger wheels led to a very big turning circle. Compared to a normal F1, “018” was unwieldy, like a race car. And the steering was not suited to the 18-inch wheels. So at low speed, it followed every little influence on the tarmac, and the steering lacked response.
“The brake cooling was poor, so one hard brake from higher speed was more than enough to show the limit of the brake capacity.
“But the biggest problem to me was that the car reached its top speed only in fifth gear. Sixth was too long to deal with the drag. And there was no way to get another gear ratio. So at around 300 km/h, rev-limiter in fifth, is the end of the story. Porsche turbos were doing 330 km/h (205 mph) at this time. Awkward on a German autobahn with such a machine. And the acceleration above 220 km/h (136 mph) was also not too exciting. Not like a normal F1, as you know.
“So in summary, to me, the conversion was not a success.
“I sold F1018, a show car in my eyes, and bought F1GTR013. This did not even try to be a street car, despite being street legal. Driving it on normal roads was like having a wild animal stolen from a zoo, but really exciting and fun.
“Summarizing knowledge from my side: Take a normal F1 to enjoy street driving. It’s a great car if you do not need more than, let’s say, 330 km/h, which, of course, is enough. The engine is just stunning. It is nimble and it is good for daily use too.”
Fast times on the F1 Tour
Wow — when did you last hear from someone who owned five F1s and used them like that? Probably not in Singapore or the U.S. …
I actually drove in a three-F1 convoy with the Kiwi owner of F1018 on the first F1 Tour back in 2012. He’s a keen driver, and on a 100-km (62 miles) section of Autostrada after breakfast, the Brit owner of F1046 and I swapped the lead above 300 km/h (186 mph) with F1018 close behind.
None of us are talented in the league of my German friend, but realistically, who regularly drives their 8C/250 GTO/F1 to the limit anymore? And in the future, this will sadly happen ever more rarely. Collectors aren’t the same as users. So the limitations of F1018 on the Autobahn won’t really harm its long-term desirability.
Not the ultimate F1 — but still an F1
And what of our subject car’s value in the context of its $20 million auction price? We’ve handled four F1s above that level in the past three years — three of them special cars and very significantly over $20 million.
An untouched, delivery-mileage standard F1 in yellow/gray — not the easiest combination — traded in the U.K. two years ago for over $20 million. The ultimate F1 would be one of the five LMs, none of which is likely to be available, but whose value is probably north of $30 million.
Our subject car isn’t one of them, though.
Say hello to the new 250 GTO
The High Downforce Kit of our subject car isn’t popular. Changed colors are never a plus. The LM engine mods give bragging rights and would be hard to repeat, as McLaren doesn’t have the parts.
The mileage is average. This car was guaranteed by the auction house and didn’t quite make expectations, but almost no car did that weekend.
There’s no denying F1s are the new 250 GTOs and despite this car’s smaller market because of the resto-mods, I’d say this result was spot-on the money. ♦
(Introductory description courtesy of RM Sotheby’s.)
