Buying a Formula 1 car : it’s possible !

Buying a Formula 1, which enthusiast has never had this dream? Admit it, it would look great in the middle of the living room or in the garage next to the family car! 😊

But then, is it a whim reserved for the elite or an accessible dream? These racing single-seaters, the quintessence of engineering and performance, attract not only for their aesthetics but also for their rich history in competitions. But what budget should you plan for to get a piece of this heritage? And once acquired, where and how can you really enjoy it?

In this article, I will present to you the different possibilities for buying an F1 car. From show-cars to vintage F1 cars available on the market, I will reveal little-known methods to find a Formula 1 car for sale 😎

The dream becomes reality: becoming a Formula 1 owner

Buying a Formula 1 car may seem like an unattainable dream due to the perception of the discipline. It is true that at present, the price of a modern F1 car is estimated at 15 million euros (about 16 million dollars) taking into account the design of the various elements (engine, gearbox, wings, steering wheel, halo…). If we talk about material only, then the price of an F1 car would be around 1.6 million euros (about 1.8 million dollars). This is of course an estimate to be taken with the usual precautions.

Buying a Formula 1 car is an interesting investment for collectors. Indeed, vintage F1 cars are racing cars that have marked the history of motorsport. They are considered very coveted collectibles, with a value that can reach several million euros. Collectors from around the world are willing to pay a high price to acquire these mythical vehicles. Moreover, the price of used Formula 1 single-seaters has only been rising in recent years 📈

The value of a single-seater in the premier category depends on several factors such as its general condition of course, but also its track record or the driver who was at its wheel at the time.

It is logically observed that F1 cars from Scuderia Ferrari and McLaren are the most sought after, just like the models driven by Michael Schumacher and Ayrton Senna.

Buying an F1 car without breaking the bank: opt for a Show-Car

There are several ways to turn your F1 dream into reality. For example, you could opt for buying an F1 show-car. These cars are often used for promotional or exhibition purposes. They offer stunning aesthetics and striking realism. The only difference with real racing vehicles: there is no mechanics. Only a functional steering wheel is generally present to allow you to move the car by pushing it.

A show car model of a Formula 1 car costs between 100,000 and 400,000€ approximately depending on the year and the team. Even if a show car has not actually driven on the various circuits of the world championship governed by the FIA, it remains a highly coveted object by enthusiasts.

However, some demonstration models can see their prices soar. The Ferrari SF1000 Show Car from 2020, for example, was auctioned for 750,000€ 😲

Buying a running F1 car: what budget should you plan for?

The exhibition model does not suit you? Are you looking for an authentic car that raced in the Grand Prix? A car with which you could drive on the circuit yourself or participate in events? In that case, be prepared to open your wallet 💸

To give you an idea of the amounts involved, here are the results of some recent sales. These are sought-after models, it is of course quite possible to find cheaper models (less known drivers, mid or back-end teams, older single-seaters…)

• In 2017, the Ferrari F2001 of Michael Schumacher was acquired for 7.5 million dollars, or just over 6.3 million euros at an auction organized by RM Sotheby’s in New York.
• In 2018, the McLaren-Ford MP4/8A with the bulbous nose driven by Ayrton Senna was auctioned by Bonhams in Monaco. It was acquired for 3.6 million British pounds, the equivalent of 4.2 million euros.
• In 2019, the Williams FW14B powered by the Renault RS3C V10 and driven by Nigel Mansell was sold for 3.4 million dollars. It had won the world championship in 1992.
• On July 17, 2021, on the famous Silverstone circuit in Great Britain, the McLaren Mercedes MP4-25A, driven by Lewis Hamilton, seven-time F1 world champion, during the 2010 season, found a new owner for approximately 5.6 million euros.
• In 2022, the F2003-GA chassis 229 driven by Michael Schumacher was acquired in Geneva for 14.8 million dollars.
• In 2022, the McLaren MP4/5 F1 from 1989 driven by Ayrton Senna was sold for more than 5 million dollars.
• In 2023, the Mercedes W04 from 2013 driven by Lewis Hamilton was sold for 18.8 million dollars at an auction organized by RM Sotheby's during the Las Vegas Grand Prix.
• In 1954, the Mercedes W196R, driven by Juan Manuel Fangio, was auctioned for 29.6 million dollars (about 25.2 million euros) at the Goodwood Festival of Speed in 2013.

Also read : "The Truth Behind F1's Budget Cap"

Is it possible to drive an old F1 car?

Owning an old Formula 1 car is an expensive hobby. Besides the high purchase cost, it is mainly the maintenance and operational expenses that drive up the bill. Running such a machine requires the expertise of specialized engineers and technicians, contributing to the high associated costs.

Brands such as Ferrari, McLaren, and Williams have set up specialized divisions within their structure. These entities provide customers with the equipment and technical assistance required for the maintenance of these exceptional vehicles.

Specialized companies like Officina Caira in Belgium, LRS Formula in France (Magny-Cours), F-Xtreme in Switzerland, and Geoff Page Racing in the UK can also provide storage, maintenance, and operation for Formula 1 car owners and collectors.

So it is entirely possible to drive an old F1 car, whether on track days reserved for single-seaters or even during historic races.

Among the championships organized by the FIA, we can mention the FIA Masters Historic F1 Championship (formerly Thoroughbred Grand Prix Championship) which includes cars from 1966 to 1985.

There is also the BOSS GP Racing Series which is a championship that includes various single-seaters such as F1 cars but also GP2, Auto GP, Formula V8 (World Series by Renault, World Series by Nissan...), Formula Nippon as well as F3000.

Where and how to find a Formula 1 car for sale?

Specialized sellers and auction houses

Auctions represent a privileged channel for acquiring historic Formula 1 cars. Renowned auction houses and specialized sites regularly offer a selection of single-seaters that have competed or retired from competition, allowing you to submit your bids and compete with other enthusiasts. Conversely, private sales are conducted directly with the vehicle owner, often through specialized platforms or contacts within the motorsport community.

To start your search for F1 cars, these resources can be a good starting point:

• RM Sotheby’s
• Bonhams
• F1 Authentics (they also offer many certified parts such as halos, wheels, rims and tires, helmets and driver suits, steering wheels...)
• Officina Caira
• AGS Formule1 (they also offer driving courses as well as research/sales)
• LRS Formula (they also offer courses but are also sellers of old F1 cars)
• GPCars4Sale
• Ferrari F1 Clienti

Specialized classified ad sites

More rarely, it is also possible to find your happiness on specialized classified ad sites like GoToTheGrid, Mikado Racing, or RaceCarsDirect. Do you want to sell your car? Are you looking for spare parts? Or do you want to buy an old racing car? Browse our classifieds!

Note that very recent Formula 1 cars are not available for sale. To avoid industrial secrets and prevent the leak of know-how, they are kept by the teams for a few years. So it is impossible to buy Max Verstappen's Red Bull or Alonso's Aston Martin. The most recent Formula 1 cars available for sale are often at least ten years old (excluding show cars).

Driving a Formula 1 car on a circuit: driving courses

You can't afford to buy a Formula 1 car and think that driving a Formula 1 car once in your life is an unattainable dream? Think again! Today it is possible to get into the seat and drive a single-seater of the top category, for a few laps or more.

Private companies thus offer Formula 1 driving courses. The models may be more or less recent depending on the offers.

For example, the Classic Racing School based on the historic Charade circuit in France offers the discovery of historic F1 cars or the Winfield Racing School also based in France on the Paul Ricard circuit offers to take the wheel of a Lotus F1 E20 from 2012.

Some manufacturers themselves offer this kind of experience. For example, Mercedes-Benz offers an experience called the “World Champion Experience” which allows customers to drive a car used by the team when it won the world championship. These experiences offer fans the opportunity to live the life of an F1 driver for a few hours.

Certainly one of the most beautiful experiences a passionate person can offer themselves.

Conclusion

Buying a Formula 1 car is not just a distant dream for wealthy enthusiasts. This article shows that acquiring a single-seater, whether it is an old racing car or a show car, is a tangible reality for those willing to invest in this unique collection segment. Despite the high costs associated with purchasing, maintaining, and potentially driving these extraordinary machines, the market offers various options to welcome a piece of Formula 1 history into your home. Whether it's for the static admiration of a show car or the palpable excitement of driving an old champion on the track, the paths to owning an F1 car are multiple and accessible for true enthusiasts. This universe of prestige, performance, and history continues to captivate and offer unforgettable experiences to fans of the most thrilling motorsport in the world.