Iconic supercar fetches record price at exclusive auction
30 October 2008

An immaculate McLaren F1 sold for £2.5 million last night at RM Auction’s flagship sale in Battersea, London.

The 1997 example of the iconic McLaren – an ex-Park Lane showroom car with just 270 miles on the clock - fetched £1.1 million more than its estimated value. Money experts described it as a sound investment in times when even the banks seem unsafe.

But other rare cars couldn’t defy the credit crunch. The highlight of the show, a short wheel base Ferrari 250 GT California Spyder, driven by Cameron Diaz in the Charlie’s Angels film, failed to meet its reserve, let alone its £3 million estimate.

30 per cent of the 129 lots went unsold. It also emerged that the auctioneers contacted vendors in advance to ask them to lower their reserve prices.

“It's definitely been more cautious,” admitted Max Girardo, RM Auction’s car specialist, “some buyers have been cut out of the market. A year ago, they would've thought about buying a car for £50,000, now they're not being paid a bonus or are worried about losing their job.”

 

 

 

Join the debate

Comments
5

30 October 2008

Looks like Uncle Ron has found the perfect present for his little darling, Lewis, when he lifts the F1 title this weekend.

30 October 2008

Funny that they were struggling to sell the F1's at the time and only ever made something like a hundred of them. Six hundred-odd thousand pounds seems like a bargain now.

30 October 2008

[quote Greg1]

Looks like Uncle Ron has found the perfect present for his little darling, Lewis, when he lifts the F1 title this weekend.

[/quote]

I thought uncle Ron already had one to give him! Allegedly he's supposed to be getting the one that is sat at the McLaren factory.

May be this one's the replacement!

 

 

It's all about the twisties........

30 October 2008

I remember a chassis guy who worked on the F1 told me that he thought they were selling them too cheap, that they should have been £2m new - I guess because they would have sold nearly as many, but made far more money. This would tend to support his view.

31 October 2008

270 miles in 11 years in one of the most focussed driving machines of all time!?!?! Gordon Murrey didn't pour his soul into this car so it could sit in a bloody warehouse.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    18 January 2017
    Despite receiving a cosmetic and mechanical refresh, Lexus's compact executive saloon still fails to provide much driving involvement
  • 2017 Mitsubishi Outlander PHEV 5h review
    First Drive
    18 January 2017
    Big-selling plug-in SUV gets a light refresh in the face of new challengers to offer decent economy but only average driving dynamics
  • Mini Countryman Cooper S
    First Drive
    18 January 2017
    All-new bigger Mini continues to make a curious, flawed crossover hatchback, though it’s more compelling to drive than some and more practical than it used to be
  • Porsche Panamera 4 E-Hybrid
    First Drive
    17 January 2017
    Plug-in petrol-electric Panamera makes a better case than ever to supplant the diesel best seller, but it still appeals more to the head than the heart
  • MX-5 RF 2.0 160
    First Drive
    17 January 2017
    The distinctive 'retractable fastback' roadster promises typical MX-5 dynamics coupled with better refinement. It achieves the former, but the latter isn't quite there yet