How Much Does It Cost To Buy A Formula 1 Car?

Collectors eyeing a Formula 1 car face a steep price tag shaped by history, rarity, and provenance. These aren’t current grid machines (teams lock those away for years to guard tech secrets), but retired racers from past seasons, sold at auction or through private dealers. 

The cost of buying an old Formula 1 car can vary widely—from £100,000 for a mid-tier relic to £40 million for a championship icon. 

Here’s a breakdown of what drives the price, backed by real sales data, and a look at standout F1 cars that have hit the market…

What Determines the Cost?

The price hinges on three factors: historical significance, condition, and driver legacy. 

A race-winning car from a title season—like Michael Schumacher’s Ferrari F2001—fetches millions more than a backmarker’s ride, say, a 1996 Jordan 196.

Condition matters too: a fully operational chassis with its original engine (e.g., a 3.5-litre V12) commands a premium over a shell sans powertrain. 

Provenance—ties to legends like Ayrton Senna or Juan Manuel Fangio—can double or triple the value, as collectors pay for the story as much as the metal.

Market dynamics also play a role. Public auctions, like RM Sotheby’s or Bonhams, set benchmarks—often inflated by bidding wars—while private sales via specialists like F1 Authentics offer quieter deals, sometimes below £500,000 for less heralded cars. 

Rarity spikes prices; only 10 Mercedes W196Rs exist, and two have sold publicly.

Maintenance costs—£50,000-£100,000 yearly for a drivable F1 car—don’t factor into sale price but deter casual buyers.

How Much Does It Cost?

For collectors, prices range from £100,000 to £40 million, depending on the car’s pedigree. Entry-level options—1990s midfield runners like a Footwork FA13—start at £100,000-£200,000, and they’re often engineless showpieces. 

Mid-tier cars with race history, such as Patrick Tambay’s 1982 Ferrari 126 C2, sold for USD 2.1 million. 

Championship or iconic machines climb higher: £5 million-£20 million for modern-era winners, topping out at £30 million-£40 million for pre-1980s legends tied to Fangio or Senna.

Data from recent auctions pegs the range:

• Low End: £110,255 for a 1989 Lola LC89 (Bonhams, 2019)—no wins, basic condition.
• Mid-Range: £1.62 million for Tambay’s 126 C2 (RM Sotheby’s, 2019)—two podiums, intact.
• High End: £19.6 million for Fangio’s 1954 Mercedes W196R (Bonhams, 2013)—title-winner, pristine.

High-Profile F1 Cars Sold

Historic sales spotlight the market’s peaks and trends:

1. 1954 Mercedes-Benz W196R (Chassis 00006)
   • Sold: £19,601,500 ($29,650,095) at Bonhams Goodwood, July 2013.
   • Specs: 2.5-litre straight-8, 257 bhp, 670 kg, open-wheel config.
   • Why Iconic: Juan Manuel Fangio drove it to his second of five titles, winning the 1954 German and Swiss GPs. One of 10 surviving W196Rs, it held the record as the priciest F1 car sold publicly until 2025.
   • Context: Set a car auction record at the time, reflecting its rarity and Fangio’s legacy.
2. 1954 Mercedes-Benz W196R Streamliner (Chassis 00009)
   • Sold: £40,139,925 ($54 million) at RM Sotheby’s, January 2025.
   • Specs: 2.5-litre straight-8, 290 bhp, 720 kg, enclosed ‘Streamliner’ body.
   • Why Iconic: Fangio won in Buenos Aires in 1955; Stirling Moss raced it at Monza. Displayed for 60 years at Indianapolis Speedway Museum before sale.
   • Context: Doubled the W196R record, driven by its unique aero design and dual-star history.
3. 2013 Mercedes-AMG Petronas W04 (Chassis 04)
   • Sold: $18,815,000 at RM Sotheby’s Las Vegas, November 2023.
   • Specs: 2.4-litre V8, 750 bhp + 160 bhp KERS, 642 kg, hybrid-era tech.
   • Why Iconic: Lewis Hamilton’s Hungarian GP win—his first with Mercedes—en route to six titles with the team.
   • Context: Most expensive modern F1 car sold, boosted by Hamilton’s ongoing dominance.
4. 2001 Ferrari F2001 (Chassis 211)
   • Sold: $7,504,000 at RM Sotheby’s New York, November 2017.
   • Specs: 3.0-litre V10, 825 bhp, 600 kg, pre-hybrid era.
   • Why Iconic: Schumacher’s Monaco and Hungarian GP wins, clinching his fourth title.
   • Context: A Schumacher peak, with proceeds aiding his Keep Fighting Foundation.
5. 1991 Jordan 191 (Chassis 06)
   • Sold: £1,250,000 at Silverstone Auctions, July 2021.
   • Specs: 3.5-litre Ford V8, 650 bhp, 505 kg, emerald green livery.
   • Why Iconic: Schumacher’s F1 debut at Spa 1991—one of seven made, two he drove.
   • Context: Mid-range price reflects debut significance over race wins.

Where Can Collectors Buy Formula 1 Cars?

Public auctions—Bonhams, RM Sotheby’s—offer transparency but high bids. RM Sotheby’s sold Schumacher’s 2002 Ferrari F2002 for $6,643,750 in Abu Dhabi in 2019; Bonhams fetched £4,836,000 for Hamilton’s 2010 McLaren MP4-25A in 2021. 

Private dealers like F1 Authentics list show cars (£137,000 for a 2020 Racing Point RP20) or rare racers—Jean Alesi’s 1991 Ferrari 643 hit €2,900,000 in 2023. 

Specialist firms (e.g., LRS Formula, Officina Caira) handle discreet sales, often £1 million-£5 million for 1990s-2000s cars.

Is It Worth It?

For collectors, it’s an investment in history—prices rise with scarcity. The W196R’s value jumped 173% from 2013 to 2025; Schumacher Ferraris average 10-15% annual gains.

But costs don’t end at purchase—restoration, storage (climate-controlled, £5,000/year), and spares (a V10 rebuild: £200,000) pile up. Drivable cars need teams to run them—think £50,000 per track day. Yet, for the elite few, owning Fangio’s Silver Arrow or Hamilton’s hybrid titan outweighs the expense.

The Bottom Line

For collectors, £100,000 secures a basic 1990s shell; £1.5 million-£5 million bags a race-proven mid-tier car; £5 million-£20 million nets a modern champion; and £20 million-£40 million buys a pre-1980s legend. High-profile sales—£40.1 million for the W196R Streamliner, $18.8 million for Hamilton’s W04—show the ceiling, driven by titles, drivers, and rarity. It’s a niche market—precise, pricey, and unparalleled.

Analysis for this article was provided by AutoFlip, a leading buying network where you can get an instant car offer from their database of more than 1000 licensed dealers.

Buying a Formula 1 Car – FAQs

How much does it cost to buy an F1 engine?

For collectors, purchasing a retired Formula 1 engine ranges from £50,000 to £500,000, depending on era, condition, and provenance. 

Older engines fetch lower prices. A 1990s 3.5-litre V10, like Cosworth’s HB used in Jordan’s 191, might start at £50,000—stripped, no hybrid tech, but tied to Michael Schumacher’s 1991 debut (chassis sold for £1.25 million, Silverstone Auctions, 2021). A 1980s 1.5-litre turbo, such as Ferrari’s Tipo 031/2 from the 126 C2, can hit £150,000-£200,000 if race-used (e.g., Patrick Tambay’s 1982 podium-winner, part of a £1.65 million car, RM Sotheby’s, 2019). Pre-1980s units, like Fangio’s 2.5-litre Mercedes straight-8, are rare—none sold solo publicly, but their cars reached £40.1 million (RM Sotheby’s, 2025), suggesting an engine alone could push £300,000-£500,000 with provenance.

Condition drives cost. A functional V12 from a 1995 Ferrari F50 road car (derived from the 641 F1 V12) sold privately for £250,000 in 2023—collectors value running engines over static display pieces. Rarity spikes prices; only 10 Mercedes W196 engines exist. Maintenance—£20,000-£50,000 yearly—adds burden, but auction houses like Bonhams and dealers like F1 Authentics source these relics. Expect £100,000-£300,000 for a well-documented 1990s-2000s V8 or V10, with legends commanding more.

Can you buy a Formula 1 car?

Yes, anyone can buy retired Formula 1 cars from past seasons through auctions or private dealers, though current cars remain off-limits due to team secrecy and FIA rules. Prices span £100,000 to £40 million, tied to history and condition—modern racers like Lewis Hamilton’s 2013 Mercedes W04 sold for $18.8 million (RM Sotheby’s, November 2023), while a 1989 Lola LC89 fetched £110,255 (Bonhams, 2019).

Public auctions offer high-profile options: Michael Schumacher’s 2001 Ferrari F2001 hit $7.5 million (RM Sotheby’s, 2017), and Juan Manuel Fangio’s 1954 Mercedes W196R Streamliner reached £40.1 million (RM Sotheby’s, January 2025)—the priciest ever. Specialist dealers like F1 Authentics list show cars (e.g., £137,000 for a 2020 Racing Point RP20) or race-used gems—Jean Alesi’s 1991 Ferrari 643 sold for €2.9 million in 2023. Private sales, often discreet via firms like LRS Formula, range £1 million-£5 million for 1990s-2000s chassis.

Availability depends on era—pre-1980s cars are scarcest (e.g., 10 W196Rs exist), 1990s-2000s more common. Condition varies: some lack engines, others run with £50,000-£100,000 yearly upkeep. FIA parc fermé locks current cars post-race, but teams release older ones after tech edges fade—Schumacher’s 1991 Jordan 191 hit £1.25 million (Silverstone Auctions, 2021). Collectors can own F1 history; it’s a matter of budget and connections.

Why is an F1 car so expensive?

Retired Formula 1 cars command high prices due to their advanced engineering, limited production, and motorsport prestige. Built from carbon fibre, titanium, and bespoke alloys, a chassis like the 2001 Ferrari F2001 (sold for $7.5 million, RM Sotheby’s, 2017) reflects £10 million-plus development costs—amortized over a handful of units. Engines—e.g., a 3.0-litre V10 with 825 bhp—use rare materials like beryllium, pushing replacement costs to £200,000. Only 10-20 cars per model exist; Fangio’s 1954 Mercedes W196R, one of 10, fetched £40.1 million (RM Sotheby’s, 2025) for its title pedigree. Hand-assembled by elite teams, their labour—500 hours per car—adds value. Prestige from Grand Prix wins or drivers like Senna inflates demand, making each a unique artefact of F1’s technological arms race.