McLaren F1 sells for $15 million at Bonhams auction

McLaren F1 has resided in the same east coast collection for the past 22 years

August 21, 2017 — A 1995 McLaren F1 has just brought a record amount at Bonhams’ Quail Lodge auction in Monterey over the weekend, changing hands for a total of $15.62 million. The actual bid amount was $14.2 million, with the 10 percent buyer’s premium pushing the total transaction amount a bit further, enough to nudge the price just out of Earth’s orbit.

The F1 in question can be described both as a no-stories car, and one with some stories. For starters, this 1995 example is the first one that has been federalized for the U.S. market and then returned to its original European specification. Second, the car reportedly acquired half of its 9,600-mile odometer reading in one bite, when its very first owner took it on a tour of Europe straight from the factory. Third, this F1 has resided in the same east coast collection for the past 22 years in the care of its original owner, accumulating mileage in small increments along with regular services performed by BMW National Workshop-East.

The low mileage and one-owner history helps to explain the high bid achieved here but the trajectory of F1 values has been heading in this direction for some time, ever since F1 values started taking off about a decade ago. The best examples topped the $10 million mark only in 2014, with a handful of top examples traveling upward about a half million at a time since. In fact, a decade ago, the F1 could be bought for “merely” a million or so, with some well-used examples trading for well below that number.