Australia’s Only McLaren F1 Is For Sale

One of the most iconic supercars ever built has just emerged on the Australian market—and it’s making headlines for good reason. With only 106 McLaren F1s ever produced and just 64 road-legal examples, this 1992 masterpiece is more than a car—it’s legend. And now, for the first time in history, the only McLaren F1 in Australia is officially up for sale, carrying an astronomical price tag of $37.7 million AUD, listed exclusively by ELITE, specialists in ultra-high-end automotive sales.

A Revolution Under the Hood

The McLaren F1, released in 1992, was engineered for a single purpose—performance perfection. Conceived by Gordon Murray, an iconic figure in Formula One, the F1 was built from the ground up with no compromises. Its backbone is a monocoque chassis crafted from carbon-fibre, taking over 3,000 hours to fabricate. Intended as a driver’s car, every element—from the centre-drive cockpit to the titanium throttle and the hand‑machined instrument needles—showcases obsessive precision and lightweight engineering.

Powering this marvel is a 6.1‑litre naturally aspirated BMW V12, delivering around 618 hp (461 kW) and 651 Nm of torque. That rocket motor propelled the F1 to a top speed of 386 km/h, making it the fastest naturally aspirated production car ever built. The engine bay’s gold-foil insulation highlights the meticulous detailing—gold was chosen for its excellent heat-reflective properties.

Australia’s Unique F1: A Storied History

This Australian example isn’t just rare because of its model—its ownership history reads like a spy thriller:

• Dean Wills, ex‑CEO of Coca‑Cola Amatil, was the first private owner in Australia. He regularly drove the car on “The Farm,” a private circuit north of Sydney, now known as 70 North.

• During a test session there, a mechanic crashed the car extensively, causing over $1 million AUD in body, suspension, and panel repairs, as reported by Wheels magazine The Economic Times.

• The vehicle was later restored and purchased by Melbourne businessman Barry Fitzgerald, who now lists it for sale via ELITA. The listing emphasizes not just ownership, but a place in automotive history: “Owning an F1 is not about a vehicle; it’s about becoming part of a legacy defined by Formula 1 DNA, Le Mans dominance, and automotive immortality.”

Elon Musk’s Fateful Ownership

Perhaps the most globally renowned chapter in F1 history involves Elon Musk, founder of Tesla and SpaceX. In 1999, after selling his first company, Zip2, for over US$300 million, Musk purchased chassis #067 for approximately US$1 million.

For many, the story peaked in 2000 when Musk, driving with PayPal co-founder Peter Thiel, revved up on Sand Hill Road in Palo Alto. Thiel asked, “So what can this do?” Musk’s reply: “Watch this.” Without traction control, the immense power slid the car’s rear wheels, sending it into a spin. The F1 plunged off a 45‑degree embankment, rotating “like a discus” in mid-air, before wrecking its body, suspension, and glass—though the carbon‑fibre chassis and BMW engine survived and both occupants escaped unhurt.

What followed is equally dramatic: the F1 wasn’t insured, so Musk reportedly paid over US$1 million out of pocket to have McLaren Special Operations rebuild it. Musk later sold it in 2007 and went on to pioneer a new era of electric performance—though he often fondly recalled the F1, saying it was “a work of art” but didn’t fit with his Tesla brand image.

Design Dedication Meets Analog Purity

The F1’s allure lies in its combination of technological purity and luxury. It’s an analog supercar—no ABS, no traction control, no turbocharging—just raw driver engagement.

Each unit was hand-built to owner specifications; cabin fitting and upholstery were bespoke, ensuring a unique interior experience. The centre seating position, flanked by two passenger seats, was inspired by Formula One and emphasised driver centrality: Supercars.net.

The BMW V12, with its race-derived dry-sump lubrication and quad-cam 48-valve architecture, provided not only power but reliability—traits essential for a car priced in the low millions at launch.

The Global Collector Market

McLaren F1s have long been prized in collector circles. Some limited-edition variants—like the LM-spec cars—have fetched close to US$20 million; one brown-on-brown Creighton Brown F1 sold for US$20.46 million at Pebble Beach in 2021. Generally, F1 values have grown steadily: average sale price surpassed £14.65 million (~US$18.4 million) since 2020.

These prices are supported by their rarity, F1 dominance at Le Mans, incredible performance specs, and analog experience. Hagerty even equates F1s to Ferrari 250 GTOs in collector cachet.

• Sole Australian F1: This makes it unique to the local market—a fact that alone increases prestige.

• Provenance: From Wills’ secret tests to multiple million-dollar repairs and Musk’s global-making crash tale, each chapter adds value.

• Original Engineering: The restored chassis retains the carbon-fibre skeleton and BMW V12—elements that define F1 authenticity.

• Mint Condition: Listed by ELITA, the car is presented in showroom state, ready for immediate display or use.

• Eye-watering Price: At $37.7 million AUD, it’s well above prior valuations—but it aligns with ultra-rare F1s and positions it among the highest-priced collector cars on the market.

Who Is the Buyer?

This is not a car for casual driving—it’s for:

• Ultra-High-Net-Worth Collectors: Folks who collect iconic road cars or need a centrepiece for a private museum.

• Driven Enthusiasts: Drivers who appreciate raw experience—manual gearbox, no driving aids, centre seat.

• Investors: Cars like the F1 often appreciate; some valuations suggest +I million USD/year gains

• Cultural Storytellers: The vehicle is a rolling narrative, spanning corporate CEOs, Australian owners, an uninsured billionaire crash, and Formula One heritage.

What Comes Next?

If the sale goes through, the buyer will not just acquire a car—they’ll assume stewardship of history. ELITA promises privacy, service, and a cult-level market network. Car Domain will make sure we cover that story!

In Summary

This isn’t just a McLaren F1—it’s Australia’s only McLaren F1, a car with global provenance and legendary narratives. From secret tests at Wills’ circuit to Elon Musk’s uninsured crash, every twist adds to its mystique. Today, as ELITA presents it to the world for $37.7 million AUD, it becomes more than a car—it becomes a national treasure and an automotive time capsule.