Rare 1966 Ford GT40 MkI Road Car Nets Almost $7 Million at Auction

Not many GT40s have crossed the auction block in recent years. But those that did changed hands for seven- or even eight-figure sums. The record is currently held by the Gulf-liveried 1968 version used in the 1971 film Le Mans. The race car sold for $11 million in 2012.

The 1966 GT40 MkII that finished third at Le Mans came close in 2018 with a $9.79-million price tag. A 1965 roadster prototype found a new home for $7.65 million in 2019, while a 1967 MkIII netted a cool $5 million. Come January 2024, a road-legal version of the 1966 MkI just became the fourth-most expensve GT40 ever sold.

Part of the first batch of homologation cars built to make the GT40 eligible for racing, this MkI is one of only 31 units made. All were completed at the Ford Advanced Vehicles factory in Slough, Buckinghamshire, England.

Despite their road-legal status, the MkI road cars looked almost identical to their race-winning counterparts. Key differences included an upholstered interior, a softer suspension setup, a quieter exhaust system, and a spare tire under the front hood.

The road car also employed a 289-cubic-inch (4.7-liter) V8 engine. However, the mill was detuned compared to the race-spec version. While the latter hit the track with nearly 400 horsepower, the street version had 306 horses on tap.

Fed to the rear wheels through a five-speed manual gearbox, it enabled the GT40 to hit 60 mph (97 kph) from a standing start in 5.3 seconds. The MkI was quicker than the contemporary Lamborghini Miura despite generating less oomph.

The Metallic Dark Blue example you see here was delivered new to an Italian customer in November 1966. The car was then owned by Umberto Magioli; a Ferrari works driver and winner of the Targa Florio and the 12 Hours of Sebring. The GT40 spent about 20 years in Italy before finding a new owner in Germany. It was parked in the Nurburgring Museum for several years before it found its way to a new owner, who kept it for about three decades.

The GT40 was restored to factory-correct specifications by RUF Automobiles, otherwise known for its Porsche-based sports cars. And impressively enough, it was never damaged and it's one of the most original examples in existence. It's also a low-mileage gem with only 13,442 miles (21,633 km) on the odometer. And according to Mecum, it was never publicly displayed for 30 years.

Now out of hiding with comprehensive documentation and a copy of its original build sheet, the GT40 MkI found a new home for $6.3 million. That's $6.93 million, including buyer's premium, making it the most expensive car sold at Kissimmee 2024 as of January 13. Watch the bidding drama unfold in the video below.