One might ask, if you have $8 million to shell out on an automobile, does the money even mean all that much to you to begin with? Whatever the case, we’ve seen plenty of rides (and other goods) auctioned off for multi-millions. And with almost every case, the story behind the item is what’s skyrocketing its price.

That’s certainly the case for this 1966 Ford GT40 Mk. II going under the hammer via RM Sotheby’s for their auction in Miami this February. It’s one of just eight examples ever built and has some racing history at Le Mans and Sebring.

Much Needed Improvements

With Ferrari dominating Le Mans throughout the 1960s with its historical run, Ford was struggling to keep up. The company’s GT40X Mk. I was continually getting beat and, in some years, not even finishing the race at all. To add insult to injury, Ferrari completed its iconic 1-2-3 finish during the 1965 competition. For Ford, it was time for some upgrades going into the 1966 season.

To stiffen the competition, Ford opted for a larger engine, sending unfinished GT40s to Shelby American, where the company assembled members from Holman-Moody and Alan Mann to help with the GT40 Mk. II, modifying the big-block NASCAR 427 V8 engine for endurance racing and modifying the vehicle to accept it. 

The larger engine also called for improved cooling with Ram air intakes on the shoulders and brake cooling intakes on the rear deck, along with revised aerodynamics to keep the wheels on the track.

Proof in the Pudding

The vehicle up for auction today is chassis number P/1032, built as a replacement race car for the GT/107 chassis. Prior to the paint job you see above, the vehicle was previously unpainted except for the racing #3 on the sides when it competed at the 1966 12 Hours of Sebring. Driven by Walt Hansgen and Mark Donohue for Holman-Moody, the vehicle finished in third, with Ford Motor Company taking the 1-2-3 spots.

The P/1032 was then prepped for Le Mans that year, which saw the shell painted in Emberglo with white stripes. Hansgen tragically passed away mere days after an accident during Le Mans test weekend behind the wheel of a different chassis. Paul Hawkins joined Donohue for the Le Mans.

This car was one of three entrants for Holman-Moody, and to differentiate this vehicle, race #4, the team gave each vehicle DayGlo identification patches on the front nose and sides.

Unfortunately, this example had a tough time in the race, never climbing higher than 30th, racing for part of the contest half-naked after losing its tail section, and ultimately leaving the competition unfinished after just 12 laps. Ford, however, had a great year otherwise. The top 3 spots were taken by GT40s, including the P/1032’s sister car in the 3rd position. This was Ford’s first-ever Le Mans win and the beginning of a new chapter for the company.

Retirement and Restoration

Despite its unfortunate finish, the P/1032 has been somewhat of an icon. Retiring following the departure from the ‘66 Le Mans, the car toured the auto show circuit between the United States and Europe for a couple of years. In 1968, it was acquired by the owner of Indianapolis Motor Speedway Anton “Tony” Hulman Jr., who had it on display on the grounds. However, the vehicle’s livery had been altered a bit and repainted.

In the mid-’00s, Ford Motor Company decided to restore the P/1032 back to its ‘66 Le Mans livery by a team of Ford legends who essentially just donated their time for the project. Cosmetics aside, this example is an outlier among the eight GT40 Mk. IIs made. Unlike its cohorts which had extensive racing history, the P/1032 only competed twice. This prevented it from getting heavily modified in the following years due to ongoing upgrades for future races. In other words, this is a highly pure and therefore one-of-a-kind example of the Mk. II.

Spec Sheet

Pricing & Availability

Crossing the auction block in Miami starting February 27, this 1966 Ford GT40 Mk. II chassis P/1032 is estimated to sell for between $8 million and $11 million. Head over to RM Sotheby’s website to register to bid, if you dare.

1966 Ford GT40 Mk. II

This 1966 Ford GT40 Mk. II competed at Sebring and Le Mans during Ford’s rise to prominence in the racing world.