1995 McLaren F1 Photo: Mike Maez | Gooding & Co.
Pebble Beach auctioned a McLaren F1 for $20.5 million on Friday night, proving the strength of the classic car market. Gooding & Co. sold the McLaren F1 to a large crowd. This exceeded its estimate of $15 million. The McLaren F1 was the most valuable McLaren F1 and most expensive McLaren F1 ever auctioned. This sale proved that even though there was a temporary halt in the auctions of high-priced cars due to the coronavirus pandemic, sales of seven-figure or eight-figure cars are still strong.
1995 McLaren F1 Photo: Mike Maez | Gooding & Co.
Hagerty, a collector car insurance company said that "it seems that the same enthusiasm exists in the lower price brackets as well." According to Hagerty, sales at Monterey Car Week, which includes many auctions, shows, awards and the Concours D'Elegance, have increased 34% over the same period in 2019. The total amount of sales has topped $210 million. McLaren F1 was undoubtedly the star of the week. Collectors and auction houses closely monitored its sale price to gauge the market. McLaren's F1 is one of the most iconic supercars and it is often credited with revitalizing McLaren's racing and car brand. McLaren made only 100 F1s so collectors all over the world are eagerly awaiting their sale. It was powered by a massive 6-liter V-12 that produced over 600 horsepower and had a top speed exceeding 240 mph.
1995 McLaren F1 Photo: Mike Maez | Gooding & Co.
