Larry Ellison’s Old McLaren F1 Could Break A Sales Record

2 hours ago 1

Topline

A McLaren F1 first bought by Oracle billionaire Larry Ellison in 1997 is being sold to its fourth owner and, if it fetches a price near its assessed value, will become the most expensive McLaren ever sold.

A 1997 McLaren F1 valued at $23 million.

Key Facts

The car, which has been driven only 6,500 miles in the almost 30 years since it was first purchased, is listed for sale through Sotheby’s with an assessed value of more than $23 million.

Called chassis no. 062, the car has been owned by just three people and was one of only seven McLaren F1s exported new to the United States through a company called Ameritec in the 1990s.

The F1s that came into the country required modifications to pass American federal safety and emissions standards, but it’s believed the changes were made only to the first car imported to and not the other six vehicles in the lot, meaning the car for sale wasn’t modified for federalization after being built by McLaren.

It remains legal to drive despite the oversight, and the original seven are still the only F1s considered road legal in California, according to Sotheby’s.

The vehicle has had some post-production upgrades, like upgraded air conditioning, radiators and sports exhaust, but still has its original magnesium wheels, owner's manuals, luggage set, car cover, F1-branded Auto Glym detailing kit, service modem and other parts.

The car’s current owner isn’t listed, but Sotheby’s says it has “been carefully looked after by its three private owners, all prominent figures in their respective industries, with no expenses spared regarding maintenance and upgrades.”

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A 1997 McLaren F1 valued at $23 million.

Big Number

$20.5 million. That's how much the most expensive McLaren ever sold fetched in Pebble Beach in 2021. Also an F1, the car had only been driven 242 miles.

Key Background

The McLaren F1, produced from 1992 to 1998, is still the fastest naturally-aspirated production automobile ever built. Only 106 of the cars were ever made, and they were widely recognized as the world's fastest "production car" when they were first released. The F1 laid the groundwork for virtually every supercar that has been built since and versions of the vehicle modified for racing have won several events, including the 1995 24 Hours of Le Mans. There are about 40 F1s in the United Kingdom and 30 in the United States, with the others spread out across the world. Other notable owners of McLaren F1s have included fashion designer Ralph Lauren, comedian Jay Leno, Pink Floyd drummer Nick Mason, Beatles guitarist George Harrison, musician Eric Clapton and actor Rowan Atkinson. Elon Musk, the richest person in the world, famously bought a McLaren F1 for $1 million after selling his first company, Zip2, but later crashed it while reportedly showing it off to PayPal cofounder and billionaire Peter Thiel. He sold the car in 2007.

Crucial Quote

"The McLaren F1 is the finest driving machine yet built for the public road," Autocar magazine wrote in 1994. "The F1 will be remembered as one of the great events in the history of the car."

What To Watch For

What chassis no. 062 sells for. Bidding on the car will close Saturday, Aug. 16.

Forbes Valuation

Ellison, chief technology officer and cofounder of software giant Oracle, was the second richest person in the world as of Tuesday with an estimated net worth of $298.3 billion.