RM Sotheby’s has built a reputation for headline-grabbing sales, including the 1955 Mercedes 300 SLR Coupé Uhlenhaut that reached €135 million on May 19, 2022. The auction house will once again gather exceptional automobiles in Florida, ranging from early 20th-century fire trucks to modern sports cars with high estimates.
Amid that diverse catalog, one lot clearly stands apart. It is not a Mustang or a Shelby GT, but a first-series GT40, a model forever linked to Ford’s dominance at the 24 Hours of Le Mans in the late 1960s. The GT40 won Le Mans four consecutive times between 1966 and 1969, highlighted by a historic 1-2-3 finish in 1966. That racing pedigree continues to shape the model’s market value today.
A Road-Legal Version of a Le Mans Legend
The car offered in Miami is a 1967 Ford GT40 Mk I, one of 31 units approved for road use out of a total production of 133 GT40s of all types, as reported by Automobile Magazine. Under the rear deck sits a V8 engine, with displacement varying between 4.2 and 7.0 liters depending on configuration, delivering up to 310 horsepower.
Its estimate of $6.5 to $8 million, may not reach nine figures, yet it far exceeds the auction results of most classic Fords. For comparison, the Mustang driven in the film Bullitt sold for $3 million, while the most expensive Mustang ever auctioned, a 1966 GT350R prototype used as a development car by Carroll Shelby, achieved $3.85 million.
The GT40’s competition record remains central to its aura. The model’s four straight Le Mans victories cemented its status in endurance racing history, and even road-going examples benefit from that legacy.
Chassis P/1058 and a Well-Documented History
Chassis P/1058 left the FAV factory in Slough, England, in December 1966 as part of a batch of seven cars shipped to Ford’s Dearborn facility in the United States. Painted Carmen Red with a black interior, it was assigned in February 1967 to Ford’s promotional program, joining six identical cars within the marketing division.
That original red shade is considered rare. In December 1967, the car was sold to Al Grillo Ford, formerly Nel-Nick, a dealership in Lynn, Massachusetts, where it served as a demonstrator until late 1968. It was then purchased by David Carroll of Brookline Village, who repainted it yellow.
The Shelby American registry indicates that the car was used to record the soundtrack for a Gulf Oil television commercial during that period. In February 1969, it passed to racing driver John “Skip” Barber, who soon sold it to Andrew Carduner. By March 1969, ownership transferred to Harvey Siegel of New York, who kept the car for several decades.
During the 1980s, Siegel commissioned a full restoration, including a white repaint with blue stripes. The car’s long-term stewardship helped preserve its documentation and traceable history.
Restoration, Exhibitions and Meticulous Upkeep
In February 2002, P/1058 was acquired by George Getz of Paradise Valley, Arizona, through Grand Touring Cars, Inc. He returned the car to its original Carmen Red finish, restored the interior while retaining as much original fabric as possible, and oversaw a comprehensive mechanical overhaul between March 2004 and January 2005.
The GT40 changed hands again in 2011 when it was sold to dealer Peter Klutt. He displayed it at major events, including the Shelby National Convention at Fontana in May 2013 and the 2013 Concours d’Elegance of America in Plymouth, Michigan, before exhibiting it in his showroom.
In August 2014, a well-known Texas collector acquired the car and is now offering it through RM Sotheby’s. Since then, maintenance has been described as regular and meticulous. In 2021, the engine underwent a complete rebuild, was run in on a test bench, and then reinstalled.
The car is presented in near-new mechanical condition. On February 27 in Miami, bidders will decide how much that combination of rarity, provenance, and racing heritage is worth.
