Someone Paid Enough for This Ultra-Rare McLaren F1 LM-Spec to Buy 87 Average Houses in the United States

The 2019 Pebble Beach Concours d’Elegance featured some of the most to-die-for cars in the world. One of the real stars of the show was a 1994 McLaren F1 “LM Specification” that lived up to its billing when it sold for a whopping $19.8 million at the RM Sotheby’s auction over the weekend. While it did sell below the auction house’s estimate of $21 million to $23 million, the $19.5 million selling price makes this specific McLaren F1 LM the most expensive McLaren ever sold in an auction setting. For a little perspective, the final selling price of this McLaren F1 LM is equal to buying 87 houses in the U.S. based on the median home listing, according to real estate and rental market place site Zillow. In other words, that’s a lot of houses for the price of one McLaren F1 LM.

McLaren F1 LM-Spec Auction Price

The McLaren F1 is arguably one of the most sought-after supercars in the world. Only 106 of them were made, and of those 106 units, there are only two — yes, two! — versions that were modified by McLaren into “LM Specification.” For a model that routinely fetches millions, the F1 LM Spec is proof that not all McLarens cost the same. That’s a big reason why RM Sotheby’s slapped an estimate of $21 million to $23 million on this F1 LM. If there was ever a time to buy the rarest of the rare when it comes to McLaren F1s, this was the time to do it.

The auction’s result didn’t disappoint. Sure, it failed to meet RM Sotheby’s estimates, but this specific F1 LM still commanded an incredible winning bid of $19.5 million, making it the most expensive McLaren ever sold in an auction setting.

McLaren F1 LM-Spec Performance

The F1 018 is special for a lot of reasons. It was originally painted Midnight Blue Pearl and rolled out of McLaren’s Surrey factory as a standard F1. It wasn’t until 2000 that the car’s second owner shipped it back to McLaren with the expressed intent of commissioning the LM specifications. McLaren obliged, and the car was transformed into the F1 LM, complete with the Platinum Silver Metallic shade, the same color it has worn to this day. Its BMW-sourced 6.1-liter V-12 engine also benefited from an extensive engine upgrade program that came with an output of 659 horsepower, over 30 horsepower more than the standard F1’s output of 627 horsepower, and 520 pound-feet of torque.

Among the juicy bits McLaren added a massive rear wing, an updated front section, a pair of special side air vents, extra radiators, a modified exhaust system, race-spec dampers and springs, and a set of 18-inch GTR wheels.

In full bloom, the McLaren F1 LM is capable of sprinting from 0 to 60 mph in 2.9 seconds before hitting a top speed of 225 mph. You have to understand that the F1 LM boasted these performance numbers almost two decades ago. That’s how impressive this supercar is, specifically when carrying the LM specification badge.

McLaren F1 LM specifications

Engine	BMW 60-degree V-12, 48 valves
Displacement	6 liters
Power	659 hp
Torque	705 Nm (520 lb-ft)
Power/liter	110 hp
Layout	mid-engine, RWD
0-100 km/h (62 mph)	2.9 seconds
Top speed	362 km/h (225 mph)

Final Thoughts

I mentioned earlier that the McLaren F1 LM sold for the equivalent of buying 87 houses in the U.S. today based on the median home listing sales. That’s not an exaggeration. You can buy more than 87 houses for the price of one McLaren F1 LM depending on which state you’re buying all these houses in. Take West Virginia, for example. According to Business Insider, the median listing price of homes in the Mountain State is $166,488. You can buy the equivalent of 117 houses in West Virginia for the price of the McLaren F1 LM that sold over the weekend at Pebble Beach. That’s 45 houses you can buy in the Empire State for the price of the same McLaren F1 LM.

I’m not saying this to promote real estate developments in the U.S. I’m saying this to put into perspective the price that was paid to go home with one of only two McLaren F1s in the world carrying the LM Specification. It says a lot about the car’s rarity and exclusivity that even with its record-setting $19.5 million selling price, it still fell $2 million short of RM Sotheby’s estimates.

Then again, if that’s the going rate for a McLaren F1 LM these days, I can’t begin to imagine what the F1 018 will sell for in a few years. If you think real estate prices are shooting up in the U.S., the same holds true — maybe even more — for rare and exclusive supercars.