Why That $12 Million McLaren Up for Auction is Worth $12 Million

McLaren F1

Typically it is presumed that most cars depreciate in value over the years, and that is definitely most often true. Well, usually. Every now and then a particular model of car is created that stands out above the rest, proving to be a timeless classic. Cars like the Ferrari 250 GT or the Lamborghini Miuara come to mind. It has come to our attention that RM Sotheby’s is having a special auction on August 13th in California. The even is called the “Pinnacle Portfolio”, and many incredible cars are going to hit the chopping block. There’s a few Bugatti Veyron’s, a Ferrari 250 GT California, a Maserati MC12, and many others. Still one of the standout vehicles is a McLaren F1, and it’s expected to sell for around $12 million. That’s a staggering price, but is it worth it for a car that’s around 27-years old? We think it is.

Lamborghini first pioneered the world of mid-engine supercars back in the 1960’s, and the automotive world was forever changed. There have been many great supercars over the years, and one could make the case that the McLaren F1 is one of the top five of all-time. So why is that? Well for loads of different reasons as you’ll soon see.

McLaren F1 2

The McLaren F1 was designed by lead engineer Gordon Murray back in the early 1990’s. Murray and McLaren strived to produce a high-end supercar that was both extremely powerful and lightweight. In 1992 they released the F1, and it was priced at around $815,000. That’s ridiculously expensive now, and even more expensive in the 1990’s. The reason it was so costly was due to many factors, starting with the materials that they used. The McLaren F1 was the first production car that used super high-end and expensive materials like magnesium, titanium, gold, and Kevlar. But more importantly, it was the first car ever to feature a carbon-fiber monocoque chassis. These materials had never been used in production cars, and critics scoffed at the F1 saying how these materials were unnecessary and useless. Little did they know that all modern supercars today would use these same materials.

McLaren F1 3

So it was the first car to use these high-end materials, earning it a place in history. Is that why it’s worth $12 million today? Only just partially. The F1 also incorporated active aerodynamics that created a drag coefficient that still beats modern supercars today. It was lightweight and sleek, but was it also powerful. Oh yes, it was powerful. This particular F1 up for grabs features a naturally-aspirated, 6.1-liter V12 engine and a six-speed manual gearbox. That engine is able to deliver around 691hp in total. When you take that fact into consideration, this car is very fast. It has more horsepower than most modern supercars today. In 1993 the F1 set the world record for the “world’s fastest production car”, as it achieved a top speed of about 240mph. It would take Bugatti awhile to finally beat that record in 2005. Even today, the F1 is still one of the fastest production cars that have ever been produced. As the Veyron uses a W16, quad-turbocharged engine that offers well over 1,000hp, the F1 is still the fastest car with a naturally aspirated engine of all-time. Okay so it’s still one of the fastest cars ever made, but what else makes it so special?

McLaren F1 4

By their very nature, a supercar aims to deliver the best possible racing experience that can be had in a street-legal car, and you could make the case that the McLaren F1 does this the best. Unlike any other production or supercar before, the McLaren F1 features three seats. The driver sits in the middle of the car, with passenger seats on either side. In terms of driving experience, this is arguably the best. The McLaren gets its name for a reason. Like Formula One race cars, the F1 is meant to evoke a similar experience with the driver in the center of the car. This vehicle was designed to be the “ultimate road car”, and this seat configuration helped make that statement true. Due to safety concerns and “stupid” rules today, we simply do not see cars like this anymore.

Okay so the F1 is fast, cutting-edge, an automotive landmark that will forever be remembered in history, and arguably one of the best cars to drive. But is it really worth that $12 million? Well another fact to consider is that this vehicle is also extremely limited. McLaren says that in total, only 107 F1’s were built. But this particular unit that’s up for grabs at this auction is even more unique. It’s called the “Road Going LM” and it was the 63rd F1 that rolled off the assembly line. But more importantly, this particular model is an F1 that was factory upgraded by McLaren to meet LM specifications. Only one other F1 ever received the same treatment. It’s a limited version of an already limited car.

This particular car that will be auctioned in August is arguably one of the best cars that has ever been made in the history of mankind. If McLaren released this car today in 2015, fans around the world would fall in love and give it praise. The fact that these cars were produced back in 1992 is absolutely extraordinary, and even today the F1 can go toe-to-toe with many modern supercars. It’s the first of its kind, and perhaps the last as well given the things that make this car unique. We don’t see many naturally aspirated engines anymore or three-seater supercars. The F1 was ahead of its time, and this particular model has all the makings and features that are worthy of calling it a $12 million dollar car.

Photos from RM Sotheby’s

Written by Sebastian Hensiek

From Philadelphia, Sebastian is a fan of music, writing, art, and entertainment.