Cars

This Is What a P1 Billion Car Looks Like

Pebble Beach auction just sold a McLaren F1 Road Car for P1 billion.
IMAGE GOODING & CO.
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Gooding & Company, the official auction house of the Pebble Beach Concours d’Elegance, announced that it has set a new world record for selling a 1995 McLaren F1 supercar at a hammer price of $20.465 million (including buyer’s premiums). That translates to about P1.03 billion. Needless to say, the sale is the most valuable car sold at auction this year. 

The auction took place on August 13 and 14 at the Parc du Concours, where the world’s foremost car collectors, buyers, and sellers gathered at the historic venue in Pebble Beach, California.

A car engine with real gold

Designed by Gordon Murray, who also designed McLaren’s Formula One race cars at the time, the McLaren F1 Road Car is the brand’s first road-going vehicle. It was the first car with a fully carbon fiber chassis. It was also a three-seater, with the steering wheel in the middle of the cockpit, and used real gold to dissipate heat inside the engine bay. It also broke the world speed record, clocking 386 kph, which it held from 1998 to 2005, when the Bugatti Veyron took a new record.

This McLaren F1 Road Car is one of only 64 units the brand built. This particular unit, which is chassis number 29, is in “time capsule” condition, with just 390 km on the clock. The interior is clad in Brazilian Brown upholstery with a very unique Creighton Brown paintwork. It was sold and delivered to Japan. It probably wasn’t a coincidence that Gooding & Co. placed it under lot number 29 at the auction. The car’s immaculate condition comes complete with a tool chest, luggage set, handbooks, and a watch.

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Photo by Gooding & Co.

According to the organizers, after last year’s hiatus from live auctions, the enthusiasm and anticipation for this year’s event was at an all-time high. The weekend kicked off with a record-setting series of sales. The auction raised a grand total of $107,045,410 (approximately P5 billion) worth of rare and collectible cars, with the McLaren racking a fifth of the total value.

The auction also celebrated the 70th anniversary of the Concours d’Elegance. Since the 1950s, Pebble Beach has established itself as the ultimate destination for collector car enthusiasts. And for the past 17 years, Gooding & Company has been the appointed auction house. It has managed the changing of hands for the world’s most prized and valuable collector cars. This year, the Pebble Beach Auctions also brought in an unprecedented number of online bidders taking part in the action via the company’s digital platform. The historic sale was posted on the auction house’s Facebook page and a video of the car was posted online for viewing prior to the auction.

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The event itself isn’t just about rich people showing off and trading their favorite toys. The Pebble Beach Concours has raised more than $1.75 million for charity this year, bringing the event’s total charitable donations to over $32 million to date.

More details and information can be found on www.goodingco.com and follow them on Facebook at www.facebook.com/GoodingandCompany and Twitter: @goodingandco #GearedOnline or Instagram: @goodingandcompany

 

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