1967 Ford GT40 Coupe / P/1059 Vehicle Information

1967 Ford GT40 photograph

1967 Ford GT40 photograph

1967 Ford GT40 photograph

1967 Ford GT40 photograph

1967 Ford GT40 photograph

1967 Ford GT40 photograph

1967 Ford GT401967 Ford GT401967 Ford GT401967 Ford GT401967 Ford GT401967 Ford GT40
Coupe
Chassis #: P/1059
Engine #: SGT/20
Sold for $2,860,000 at 2012 RM Auctions - Monterey.
Sold for $2,860,000 at 2012 RM Auctions - Monterey.
In 1963, Ford was pushing hard to acquire Ferrari. However, when the deal failed to materialize a new kind of resolve overcame the Ford management and its racing department. The new attitude could be easily explained: 'If you can't buy them, then beat them.' Thankfully, for all car enthusiasts, the deal did fail to materialize, for out of that bitterness would be born the GT40.

Ford wanted domination and that would come during the 1966 24 Hours of Le Mans when it scored a fabulous and memorable one-two-three victory with the GT40. This success on the track meant even more than retribution. The old adage held true: 'Win on Sunday, sell cars on Monday.'

The GT40 was a hot commodity. To own one of the coveted prancing horse-slayers would be nothing short of an incredible honor. And while the actual Le Mans cars would be out of reach for the vast majority, Ford recognized it had the opportunity to give the publican opportunity to own such an iconic car. In the end, Ford would produce just 133 examples of its famous GT40 for road use and one of those 133 would be offered at the RM Auctions event held at Monterey in August of 2012.

While there would be a total of 133 examples of the GT40 built for road use, there would be just 31 examples of the GT40 P cars that would be equipped for the road and the one offered at auction, chassis 1059, happens to be one of those 31.

Ronnie Spain, a renowned GT40 authority, would call 1059, 'one of the most original GT40s I have ever seen.' Built in the later part of 1966, this particular chassis would be sent to the United States just prior to Christmas in 1966. This particular chassis was one of just twenty that was selected for a MK I Promotion and Dispersal Program. Chassis 1059 would then be just one of six that would be assigned to Shelby American for promotional use. 1059 would be a particularly good example to use in promotions as it would leave Slough, England with the High Performance Ford 289 cu. in. engine with the Weber carburetors, ZF transmission and the Borrani wheels. However, at the time the car arrived in the United States it would bear a different livery than it does today. Originally, the GT40 would come to the United States adorned in a Maroon finish.

The livery would change when the car would be delivered to Kar Kraft in Brighton, Michigan. Kar Kraft had been instrumental in the development of many other race cars and they would take delivery of the car for their promotional uses. To make best use of the car and their promotions, the car's livery would be changed. The Maroon would then give way to the more familiar overall white and blue stripes, the typical American racing colors.

Not long after changing its aesthetic appearance the car would be acquired by Edward Schoenherr of Stark Hickey Ford, a dealership in Detroit. The car would remain with the dealership up into the early 1970s where it would only suffer some minor damage and would remain one of the most desirable GT40s.

In September of 1973, the car would be purchased by Herb Wetanson of Long Island. Mr. Wetanson was well known within the GT40 world as he would own no less than six different examples. Mr. Wetanson would hold onto 1059 for just a year before selling it to Dr. Frost, a noted collected, of Dubuque, Iowa. By this point in time the car boasted of just 2,000 miles and maintained an unprecedented amount of files and other information about the car.

Dr. Frost would not let the car sit idle. He would set about making some changes to the car, mostly safety in scope. The original fuel bladders would be replaced by aluminum tanks and a fire extinguisher would also be mounted in the car. The tanks would be fabricated by no less than John Horsman, the former chief engineer at FAV and for the John Wyer Gulf Racing team. Dr. Frost would own the car well into the new millennium and would remain a prominent focal-piece in his already impressive collection of automobiles.

During the many decades of ownership, Dr. Frost would undertake refinishing the GT40 keeping to the livery applied by Kar Kraft. And besides taking part in the Thirtieth Anniversary GT40 Reunion at Elkhart Lake, Wisconsin in 1994, chassis 1059 would be campaigned in a number of events, but still, the mileage would be quite low.

When chassis 1059 was purchased from Dr. Frost the car would have just a total of 4,500 original miles on it making it one of the lowest mileage GT40s in the world. Today, boasting of just 4,749 miles, it remains one of the lowest mileage GT40s.

Despite being more than forty years old, the car still runs like new thanks to steps taken by the owner to maintain the mechanical and aesthetic condition of the car. This mechanical conditioning of the car then accounts for the approximate 250 miles the car had accumulated since coming to its recent owner.

Original from nose to tail, chassis 1059 would have to be one of the most coveted of the 133 GT40s produced. Given the fact it has less than 5,000 miles causes to car enter a very special category, even amongst the GT40 fraternity. With essentially just two private owners since it was produced, this rare Mk I is presented as an exceptional example deserving of much admiration, especially at concours and vintage touring and racing events.

With its 380 hp V-8 engine and looks that appear as if the car had been produced just yesterday, chassis 1059 rekindles that special time in Le Mans history when the rivalry between Ford and the rest of the European automakers was at its highest, most bitter point. But out of that anger would come one beautiful car recognized and beloved the world over. So named because it measured just 40 inches tall, the GT40 would be one of those few cars ever produced that it would not need its factory name to remind people of who built it. The reason for that is because the GT40 took on a life and a personality all its own and 1059 represents that very rare opportunity to enter that very small and intimate family.

Heading into auction, chassis 1059, with its original, matching drivetrain, was estimated to draw between $2,300,000 and $2,700,000.

Sources:
'Lot No. 226: 1967 Ford GT40 Mark I', (http://www.rmauctions.com/FeatureCars.cfm?SaleCode=MO12&CarID=r144). RM Auctions. http://www.rmauctions.com/FeatureCars.cfm?SaleCode=MO12&CarID=r144. Retrieved 6 August 2012.

Kurczewski, Nick. '1967 Ford GT40 Mark I—2012 Monterey Auctions', (http://blog.roadandtrack.com/1967-ford-gt40-mark-1-2012-monterey-auctions/). Road and Track. http://blog.roadandtrack.com/1967-ford-gt40-mark-1-2012-monterey-auctions/. Retrieved 6 August 2012.

By Jeremy McMullen


2012 RM Auctions - Monterey

Pre-Auction Estimates :
USD $2,300,000-USD $2,700,000 
Sale Price :
USD $2,860,000

2012 RM Auctions - Monterey

Pre-Auction Estimates :
USD $2,300,000-USD $2,700,000 
Sale Price :
USD $2,860,000

1967 Ford GT40 Auction Sales

Recent Sales

(Data based on Model Year 1967 sales)
1967 Ford GT40 Mk IV
Chassis#: J-12
Sold for USD$1,925,000
  2018 Gooding & Co. : Amelia Island
1967 Ford GT40 image  1967 Ford GT40 image  
1967 Ford GT40 Mk IV Continuation by Kar Kraft
Chassis#: J-16
Sold for USD$660,000
  2015 RM Auctions - Automobiles of Arizona
 
1967 Ford GT40 Mk 1
Chassis#: GT40 P/1058
Sold for USD$3,520,000
  2014 Gooding & Company : Pebble Beach Concours
1967 Ford GT40 image  1967 Ford GT40 image  
1967 Ford GT40 Mark I
Chassis#: P/1059
Sold for USD$2,860,000
  2012 RM Auctions - Monterey
1967 Ford GT40 image  1967 Ford GT40 image  
1967 Ford GT40 Mk II B
Chassis#: P/1047B
Sold for USD$225,000
  2009 Mecum - Original Spring Classic Auction - 22nd Year
 
1967 FORD GT40 MK V
Sold for USD$396,000
  2006 Barrett-Jackson - Scottsdale 2006
 
1967 FORD GT40 MARK III COUPE
Sold for USD$324,500
  2003 Barrett-Jackson - Scottsdale 2003
 
1967 FORD GT40 MARK III COUPE
Chassis#: 1059
Sold for USD$354,200
  2003 Barrett-Jackson - Scottsdale 2003
 

Vehicles That Failed To Sell

1967 Ford GT40's that have appeared at auction but did not sell.
VehicleChassisEventHigh BidEst. LowEst. High

Comparables

Similar sales to the $1,458,300 range.
1960 Ferrari 250 GT Series II Cabriolet
Chassis#:2075 GT
Sold for $1,462,500
2020 Gooding & Company : Scottsdale Arizona
1967 Ford GT40 vehicle thumbnail image  1967 Ford GT40 vehicle thumbnail image  
2019 MCLAREN SENNA
Chassis#:SBM15ACAXKW800005
Sold for $1,457,500
2019 Barrett-Jackson : Scottsdale, Az.
1965 Aston Martin DB5 Convertible Coachwork by Touring
Chassis#:DB5C/1520L
Sold for $1,450,000
2018 Bonhams : Greenwich Concours
1957 Mercedes-Benz 300 SL Roadster
Chassis#:198-042-7500453
Sold for $1,454,754
2018 Bonhams : The Monaco Sale 'Les Grandes Marques à Monaco'
1966 Shelby 427 Cobra
Chassis#:CSX 3283
Sold for $1,457,500
2018 Gooding & Co. : Amelia Island
1967 Ford GT40 vehicle thumbnail image  
1930 Bentley Speed Six 'Le Mans Replica' Tourer
Chassis#:LR 2787
Sold for $1,457,500
2018 Bonhams : Scottsdale
1990 Ferrari F40
Chassis#:ZFFMN34A6L0087030
Sold for $1,457,500
2017 Bonhams : Quail Lodge
1996 Porsche 911 GT2 EVO
Sold for $1,450,000
2017 Mecum : Indianapolis
1955 Mercedes-Benz 300 SL Gullwing
Chassis#:198.040.5500098
Sold for $1,457,500
2017 Gooding & Co. : Scottsdale, AZ
1930 Cadillac V-16 Roadster by Fleetwood
Sold for $1,457,500
2016 RM Sotheby's : Monterey
1967 Ford GT40 vehicle thumbnail image  1967 Ford GT40 vehicle thumbnail image  
1987 PORSCHE 959 KOMFORT
Chassis#:WPOZZZ95ZHS900125
Sold for $1,457,500
2015 Bonhams Quail Lodge Auction
1967 Ford GT40 vehicle thumbnail image  
1965 Ferrari 275 GTB by Scaglietti
Chassis#:07743
Sold for $1,448,376
2013 RM Auctions - VILLA ERBA
1927 Bugatti Type 35B
Chassis#:4817
Sold for $1,457,500
2008 Gooding & Company
1967 Ford GT40 vehicle thumbnail image  1967 Ford GT40 vehicle thumbnail image  
1966 Ford GT40 MK1
Chassis#:1065
Sold for $1,465,000
2008 Sports & Classics of Monterey by RM Auctions
1967 Ford GT40 vehicle thumbnail image  1967 Ford GT40 vehicle thumbnail image  
1959 Ferrari 250 GT Tour de France Berlinetta
Chassis#:1385GT
Sold for $1,445,004
2008 Automobiles of London
1967 Ford GT40 vehicle thumbnail image  
1965 Ferrari 250 LM Berlinetta
Chassis#:06173
Sold for $1,445,004
2008 Automobiles of London
1959 Ferrari 250 GT 'Tour de France'
Chassis#:1161GT
Sold for $1,457,500
2005 The Monterey Sports and Classic Car Auction
1965 Shelby 427 Daytona Coupe
Sold for $1,457,500
2005 Russo and Steele - Monterey 2005


Vehicle information, history, and specifications from concept to production.

Follow ConceptCarz on Facebook Follow ConceptCarz on Twitter RSS News Feed

Conceptcarz.com
© 1998-2020 Conceptcarz.com Reproduction or reuse prohibited without written consent.