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McLaren F1 sells for $8.47 million at Gooding & Co’s Pebble Beach Auction

McLaren F1 chassis #66 (pictured) has sold for $8.47 million There’s been an inexorable rise in the price of classic cars in recent years as rich men realise that certain classic cars not only have huge appeal, but appear to be going only one way in price. Add to that – certainly in the UK – that any profits made on the sale of a classic car you’ve bought for your own enjoyment are tax free, and it’s no shock that values keep rising, and the rarer the car the more they rise. So with only 64 road cars made, the McLaren F1 can be considered a sound investment, with values rising since it first sold in the 1990s for around £640,000 to a new world record auction price set last night of £8.47 million (around £5.42m).

Record expected for Auto Union sale

By James Mullan Motor Industry 07 February 2007 09:21 A rare 1939 Auto Union Type D grand prix car is tipped to tear up the record books this month when it goes under the hammer – for an estimated price of up to £7.8 million. Auto Union developed the Type D racing car with a mid-mounted 3.0-litre 12-cylinder engine; in 1939, it was modified with the addition of a twin supercharger, increasing power 420bhp to 460bhp – enough for a top speed of 205mph. This particular car won the French and Yugoslavian Grand Prix in 1939, but at the end of the Second World War it was transported from East Germany to the former Soviet Union by Russian occupation forces as spoils of war.

McLaren Automotive Company created as an independent

The McLaren P11 will be the first of McLaren Automotive's new cars in 2011 The whole road car business at McLaren is to be made an independent company – McLaren Automotive – and is aiming to produce 1,000 cars a year by 2011 and 4,000 a year by 2015. McLaren plans that the cars they produce will be more exclusive, and more expensive, than the competition from Italy. The ball will start rolling with the McLaren P11, a car aimed squarely at the F430/Gallardo market.