The ultimate investment What makes the McLaren F1 so special?
The McLaren F1 is a rare breed of hypercar. Debuting in 1992, just 106 cars were manufactured during a production run that lasted until 1998, with a limited set of design variations. It’s a collectability factor that has seen the F1’s value soar. While the early models sold for around £600,000, today they can be expected to trade upwards of £15 million, with the rarest fetching even more.
As collectors well know, such returns aren’t a given. Few cars appreciate to the extent of the F1, with many hypercars losing value after release. But with such an eye-watering increase in value, the F1 makes a strong claim to be the ultimate investment.
Sholto Gilbertson is Director of Sales at auction house RM Sotheby’s. Specialising in antique, classic, sports and racing cars, the company has been involved in the sale of many F1s over the years, and has seen values increase dramatically. For him, the F1’s rise is a testament to its unique origins. “The McLaren F1 is something of an anomaly,” Sholto says. “Where rival supercars were designed by committee, the F1 was very much the vision of one man—Gordon Murray—and as a result was ambitious and laser-focused.”
The result of Murray’s ambition was like nothing before it: a spectacle of technical prowess, including a carbon fibre monocoque chassis – now commonplace among cars of its kind – and a gold-plated engine, designed to reflect heat as efficiently as possible. To this date, the F1 remains the fastest naturally aspirated road car ever built, with the prototype XP5 model having reached a top speed of 240mph. All in all, the F1 is a stripped-back, efficient machine, designed to give its driver a truly pure driving experience.
This is epitomised behind the wheel. Unlike most hypercars, the F1 has three seats, placing the driver firmly in the thick of the action. The idea didn’t catch on, but this only serves to further underline the unique qualities of the F1, and its visionary designer. “Murray set out to build the best driver’s car in the world with no limitations to his brief, at a time when driver aids, safety requirements, and environmental impact weren’t as regulated as they are today,” Sholto says. “It’s a situation that will probably never happen again. Throw in the cachet of an outright win at the 24 Hours of Le Mans in 1995 on the F1’s debut outing, and you have the makings of a legend.”
In 2024, RM Sotheby’s online auction platform, ‘Sotheby’s Sealed’, hosted the sale of one particularly rare F1: ‘chassis 029’, the world’s only F1 to be finished in Creighton Brown over Light Tan and Brazilian Brown. First delivered to Japan in 1995, chassis 029 boasted an unbroken chain of provenance, and came complete with fitted luggage, a tool chest, and TAG Heuer watch. Crucially, it was also one of the lowest-mileage F1s known, at just 410 km (254.7 mi) from new.
“Not only was chassis 029 essentially a showroom-fresh example, but it was also finished in a totally unique, one-off colour,” Sholto says. “Both features elevated it above other McLaren F1s in the collectability stakes.” Of course, not all F1s exchange hands in the public eye. Owing to their typically high value, and the discretion of buyers and sellers, deals are often sealed behind closed doors.
Today, the F1 is revered as one of the greatest cars of all time. A host of celebrity car enthusiast owners, from present owners such as Lewis Hamilton and Ralph Lauren, to former owners like Rowan Atkinson and Elon Musk, have enshrined the F1’s status as a symbol of exclusivity. But its appeal extends far and wide, encompassing fans both old and new.
"This growing obsession for hypercars with minimal mileage draws the F1 closer to art status, as models are impeccably preserved by collectors."
“Each generation has their favoured cars,” Sholto admits. “But the McLaren F1 is special in that it seems to have universal appeal. Kids who are excited by the latest hybrid hypercars grew up with the F1 as the world’s fastest car, while the lack of driver aids, electronic assistance, or forced induction is also appreciated by an older generation. Owners tend to be older, because they either acquired their car a long time ago before values had skyrocketed, or are established enough to be able to afford the current price of admission.”
This growing obsession for hypercars with minimal mileage draws the F1 closer to art status, as models are impeccably preserved by collectors. But for all its near-mythical status, it remains a ‘drivers’ car’, built to deliver a thoroughbred driving experience – thanks to a modern, relatively understated aesthetic, coupled with its renowned reliability. When F1s do take to the road, their owners can trust them to perform.
More than 30 years old, the F1’s age pushes it closer to ‘classic’ status, as reflected in its traditional, six-speed transmission gearbox. But look beyond, and this is a car that seems to defy time.
“Every generation seems to have a model that is elevated above all others,” Sholto concludes. “In the pre-war era, the Alfa Romeo 8C 2900 became incredibly sought-after for its sporting successes, cutting-edge engineering, performance, looks, and a rarity. In the post-war era, Ferrari’s 250 GTO emerged as the ultimate collector car for many of the same reasons. In the modern era, only the McLaren F1 comes close to those levels of collectability.” If expectations are to be believed, the F1 will eventually become one of the most valuable production cars ever built.
Security spotlight: Jaguar Land Rover (JLR)
For owners and manufacturers, security of their vehicle is paramount. JLR models from 2022 onwards are built on the company’s most advanced electrical architecture, including the latest security features. As a result, JLR vehicles are proving resilient to theft; according to Police National Computer (PNC) data highlights, just 0.3% of new Range Rover and Range Rover Sports have been stolen since January 2022, while only 0.3% of new Defenders have been affected since launch in 2020. JLR is also deploying the latest security and technology across previous-generation vehicles, including those out of warranty, ensuring they have the same levels of protection as current models. Vehicles dating as far back as 2016 are benefiting from this £15 million investment, with around 7,000 vehicles a week receiving these security updates. JLR’s security experts continue to work closely, with police, government and port authorities to target organised crime groups responsible for vehicle thefts in the UK. The company is also investing more than £1m to support several police forces with additional, dedicated resources to respond to vehicle thefts in hotspots across the country, as well as a new national policing unit to gather intelligence.
If you’re a Range Rover, Defender, Discovery and Jaguar client and you’ve been contacted directly about the security updates available to you, ensure any updates are completed via a JLR-authorised retailer.
For further information on the security software update, visit JLR’s dedicated security webpage.
Looking after your car Car storage and management experts V Management share their top tips
Avoid moisture Storing your cars in a dry environment may sound obvious, but there is more to this than meets the eye. If cars are kept in a poorly insulated building, the air temperature will change rapidly, resulting in condensation, which will ultimately lead to corrosion. The ideal humidity in which to store a car is around 55% to 60% relative humidity.
Beware direct sunlight Direct sunlight can cause paintwork to fade, shrink dash coverings and dry out leather – so avoid it where possible. If you have windows in your garage, black them out.
Use car covers with caution Many owners love to keep their cars covered with expensive indoor car covers. That’s fine if you’re concerned about a less-than-perfect environment, such as ‘barn on a farm’ storage. But if your cars are in a decent facility, it’s better to leave them uncovered, allowing air to move in and around them, ensuring that any moisture that may be present doesn’t get trapped.
Watch out for rodents Rats and mice are experts at getting into warm, dry buildings, and once they’re in your beloved garage, it won’t take them long to get inside your cars – generally through pedal boxes, heating vents or up steering columns. And they love to nibble on rubber and leather.
Detailing Over time leather seats and plastic trims dry out, and paintwork oxidises unless you treat them. Detailing not only keeps your car looking its best, but regular leather feeding and waxing the paintwork is also the best way of slowing natural deterioration from chemicals in the air and UV in the sunlight.
Service your cars regularly Regular maintenance not only maximises values when the time comes to sell your cars, but an annual oil change is also vital for maintaining engine health. And it’s a myth that an undriven car doesn’t need regular oil changes; water can collect inside the engine, especially when it’s not driven regularly, and this can wreak havoc when it finally does get driven. The best way to maintain the health of your cars is to service and drive them regularly.
Drive it! There’s nothing cars hate more than not being driven. Rubber components like seals and hoses dry out and become brittle, and this can lead to a multitude of problems, from oil leaks to blown water hoses. Many components are designed to go through regular heat cycles, so if you don’t drive your car for months on end, you risk ending up at the side of the road when you eventually do take it out. Aim for at least a 25-mile drive every 2 to 3 months, although it’s important to avoid driving when there is salt on the roads.
Contact
Simon Ambler
Head of Lockton Performance