Steve McQueen’s Porsche could hit $18.5m

Film star, racing star – and now auction star?

There are big names, and then there are big names. And the glittering roll call associated with this car could help it set a new marque record at auction.

Those names? Porsche. Steve McQueen. Le Mans. Gulf. Not forgetting one of the all-time greats, Mike Hailwood.

This 1970 Porsche 917K is set to cross the block with RM Sotheby’s during its flagship Monterey auction on 12-14 August 2021, where it is estimated the hammer will fall at $16-18.5m. We had to find out more.

Record breaker?

If it achieves such dizzying, bank-account-busting heights, it will become the most expensive Porsche ever sold at auction.

The current record is held by its sister car, Porsche 917K chassis 917-024, which was once owned by the late Swiss racing driver Jo Siffert – it achieved $14,080,000 at Gooding & Company’s Pebble Beach sale in August 2017.

Common ground

In fact, the two Porsches have a lot in common, extending further than their iconic Gulf livery.

Both were used in the 1971 film Le Mans, which starred Steve McQueen as the Porsche racer Michael Delaney.

The real deal

The car for sale at the RM Sotheby’s 2021 Monterey auction is chassis 917-031/026, which was campaigned at the Le Mans 24 Hour race in June 1970 by David Hobbs and Mike Hailwood, wearing the number 22.

The British pairing brought a lot of talent and experience to the round-the-clock enduro.

Experienced hands

By 1970, Hobbs had already contested eight editions of the Le Mans 24-hour race, including a podium finish the year before in a Ford GT40, partnered by Hailwood.

And Hailwood was an ace on two wheels as well as four, a prolific ’bike racer, who claimed 14 Isle of Man TT wins across his career.

Wet, wet, wet

However, on this occasion it wasn’t to be for car number 22. Having qualified 10th, when Hobbs handed over to Hailwood they were up to third – and then heavy rain fell.

Instead of pitting for wet-weather tyres, Hailwood persisted, eventually spinning into retirement at the Dunlop Curve on the 49th lap.

A year to forget?

It wasn’t just ‘our’ car that had it hard at Le Mans in 1970.

In fact, come the chequered flag, just seven cars were classified as finishers.

What if?

However the race was won by another of ‘our’ car’s sister crews, the driver pairing of Brit Richard Attwood and German Hans Hermann steering their 917K to a popular victory.

It was also Porsche’s first outright win at the event.

Missed opportunity?

It must surely have been a little painful for Hobbs and Hailwood, who had qualified five places ahead of the eventual victors.

What’s more, car 22 was also running two places ahead of them when it crashed out.

Caught on camera

Of course, the 1970 edition of the Le Mans 24 Hours is also famous because it was during this race that live footage was captured for use in the film Le Mans.

The movie was by McQueen’s production company, Solar Productions, and the aim was to convey the most accurate depiction possible of this most gruelling contest for man and machine.

Art imitating life

The footage was caught thanks to a Porsche 908 that had been specifically adapted to run as a camera car.

Incidentally, this same Porsche had previously been raced by McQueen and co-driver Peter Revson to a class win at 1970’s 12 Hours of Sebring.

Separating fact from fiction

The final film did indeed chart Porsche’s successful but fraught quest for victory at Le Mans, but you can’t believe everything you see…

Michael Delaney, portrayed by McQueen, is seen driving multiple Porsches over the course of the film, but, ironically it is this car – chassis 917-026 – that is immortalised on celluloid as the winner of the race in Hollywood’s alternative version of events.

A new lease of life

But this was not the end for ‘our’ really rather famous Porsche racer.

After its failed attempt at La Sarthe, chassis 917-026 went back to the base of its team, JW Automotive.

A fresh start

There it was disassembled and a new racer was built using a replacement chassis, from the factory, with the designation 917-031.

In order to comply with international customs regulations, this new chassis was re-numbered as 026 so as to tally with all the relevant customs paperwork held by the team, all of which was documented in a letter of 10 July 1970 from JW Automotive to Porsche’s 917 program director, Helmut Flegl.

Back on the shelf

This new car went back racing for the team in 1970 and 1971.

Meanwhile, the original ex-Hobbs/Hailwood chassis was renumbered as 031 and returned to Porsche, where it was repaired and placed into the spare parts stock.

A second chance

We are pleased to report that the story doesn’t end there.

With its new ‘031’ designation, Porsche used it to build up a 917 Spyder in early 1971.

Matching numbers

This conversion might sound unusual, but it wasn’t at all at the time.

In creating this 917 Spyder, Porsche put a 5.0-litre engine with this chassis, and the engine was also numbered 917-031 – and this engine is still with it today.

This car is now referred to as 917-031/026.

New colours

It was a quick turnaround and the rechristened 917-031/026 was soon rebuilt and delivered to Team Shell Heckersbruch for the start of the 1971 Interserie Championship.

What’s more, it was to be driven by reigning champion Jürgen Neuhaus, and wore a hard-to-miss paintjob of red and yellow, reflecting the team’s major sponsor.

A winning start

It couldn’t have started better for this new partnership.

Neuhaus drove this car to victory at the non-championship Nürburgring 300km in April, ahead of Teddy Pilette’s McLaren M8C-Chevrolet.

Another win

There was more to come, with another non-championship win at Mainz-Finthen, a temporary street circuit in Germany, where Neuhaus defeated Michel Weber’s similar 917 Spyder to take the chequer.

But, despite this success, it proved to be quite a short-lived relationship.

Sold on

The 1972 Interserie Championship kicked off at the Nürburgring, where Neuhaus drove this Porsche to a fifth-place finish.

But that was the last time he raced 917-031/026, because the car was sold to wealthy German amateur Georg Loos’ Gelo team in mid-1972. Driver Frans Pesch scored a fourth in it later that year at Norisring.

Changing of the guard

Of course, this is a naturally aspirated car and the turbos were coming…

Such as Porsche’s own 917/10 of 1972, which was powered by a 5374cc twin-turbo V12 with 1134bhp in a car that weighed just 837kg. That meant a top speed of 224mph.

For context…

How does this compare with ‘standard’ Porsche 917s?

The figures for the 1969 car, in short-tail guise, were a 4494cc V12 with 572bhp, weighing 800kg and with a 199mph top speed.

Climbing a mountain

As you can now see, that’s quite a performance difference. Against that backdrop, ‘our’ car’s results in 1973 with Georg Loos’ Gelo squad were impressive.

Jürgen Barth was now driving 917-031/026 and achieved fifth-place finishes at Norisring and Hockenheim, behind three turbocharged Porsches on both occasions.

The inevitable

The excellent engineering behind 917-031/026 and the abilities of its skilled drivers kept ‘our’ car competitive for longer than one might expect.

But with force-induction rivals increasingly taking the spoils, this car’s final contemporary race was at Hockenheim on 30 September 1973, where Barth took the flag seventh, behind four 917/10s, one 917/30, and a Ferrari 512M.

More bubbles?

You might have heard of this car’s next owners… The Chandon family. Yes, we do mean the Champagne brand of that name.

In 1974, 917-031/026 was sold to the Chandon family and kept in central France at Mas du Clos, Ferrari collector Pierre Bardinon’s museum and private race track.

Falling silent

Despite, one assumes, keeping rather illustrious automotive company and being stored at a facility where it could stretch its legs, it is understood that this 1970 Porsche 917 was little used at this time.

This car’s current vendor, RM Sotheby’s, also says: ‘Interestingly, images exist of the car in Bardinon’s museum still resplendent in Loos’ customary colours of red with a yellow stripe, but wearing the decals of the team’s 1974 sponsors Polifac car care products, suggesting it may have possibly been used by Gelo either in competition or for publicity purposes beyond 1973.’

Marque enthusiast

Still, the Chandon family kept the car from 1974 right until 1987.

This time it was sold to Floridian Porsche collector Mike Amalfitano who, it seems, was very proud that it joined his fleet.

Tender loving care

In fact, Amalfitano was so pleased that he commissioned a sympathetic restoration of this history-rich classic car.

The work was entrusted to the Germany-based Brit Bill Bradley Racing – Bradley himself raced privateer Porsche prototypes in the 1960s.

Signs of the past

It was actually Patrick O’Grady, a former Porsche factory mechanic who by then worked for Bradley, who carried out this work.

RM Sotheby’s explains that in this process he noted ‘several stress cracks as well as traces of “Gulf Orange” overspray’.

Inside and out

It wasn’t just the bodywork that received attention at this time.

917-031/026’s engine was rebuilt to 5.4 litres by former factory 917 engine builder Gustav Nietsche, and then it was tested on the Porsche race department dyno, giving 628 horsepower.

In good company

Amalfitano was a serious Porsche collector, whose garage also housed gems including a works 1967 910 and 1988 962 Group C coupé.

This 917 was undoubtedly one of his star cars and he retained it for 22 years.

Not just a show queen

And he didn’t just polish and stare at his collection, we’re thrilled to say Amalfitano campaigned his 917, too.

This included competing at the Porsche 50th Anniversary races at Watkins Glen in 1998 as well as the Rennsport Reunion III at Daytona in 2007.

A new beginning

Unfortunately, Mike Amalfitano passed away suddenly in 2009. In 2010, his family moved his collection on and this car was briefly in the custodianship of classic racer Aaron Hsu.

It was acquired by its present keeper in 2012, joining a Le Mans-focused collection.

Back to best

So 917-031/026 has been with its current keeper almost a decade, and in that time it has been the subject of what is described by RM Sotheby’s as ‘an exacting restoration’.

And who better to do this than someone who’s tasted Le Mans victory as a team principal? The company was UK-based Lanzante Limited, Paul Lanzante’s McLaren F1 GTR winning at La Sarthe in 1995.

No expense spared

It seems that this work was done to the highest standard and with no regard to cost.

Having access to many of the correct and new-old stock components undoubtedly helped, too.

Rewinding the clock

During its time with Lanzante, 917-031/026’s original 917K coupé body was reinstated as the car was returned to the specification in which it contested the 1970 24 Hours of Le Mans.

However, its Interserie-era matching-numbers engine remains in its 5.4-litre form.

And there’s more…

In reverting to this car’s Le Mans spec, its history wasn’t erased.

Its original 917 Spyder bodywork has been carefully preserved and will be sold with the car, as will numerous spare parts, additional hardware, tools and ancillary components.

Famous colours

And, of course, this work restored the Porsche’s now-iconic Gulf colour scheme, the appeal of which seems to grow with every passing year.

Indeed, such is the cachet of these colours that the McLaren Formula One team repainted its cars in a Gulf-inspired livery for the 2021 Monaco Grand Prix – Gulf currently sponsors the team and the #41 McLaren F1 GTR Longtail claimed second at the 1997 24 Hours of Le Mans while sporting Gulf’s racing blue and fluro orange colour scheme.

As seen on screen

That this is also the paintjob it wore in McQueen’s film only increases its desirability.

It brings to mind cherished cinematic moments, as well as the heroes and tales from a classic era of sports car racing.

A special moment

With a fully documented history, four owners after its release from the factory, silver screen stardom, a Le Mans entry and a no-expense-spared restoration in its history file, when it crosses the block with RM Sotheby’s at its Monterey sale on 14 August 2021, this will be no run-of-the-mill auction.

Leading the way

Unsurprisingly, with its $16-18.5m pre-sale estimate, this 1970 Porsche 917K is the top lot at the sale, and by quite some margin – the car with the next-highest guide price is a 1962 Aston Martin DB4GT at $11-14m.

Only 19 DB4GT Zagatos were built and this car is one of six left-hand-drive examples.

Stablemate?

There are other competition cars being offered, though.

How about a 1962 Ferrari 268SP that was, like this Porsche, kept at the Mas du Clos Collection – although this time it was owned by Pierre Bardinon and remained there for 27 years. This Ferrari also has Le Mans, NART and SCCA history, as well as an $8-10m guide price.

A class act

Sticking with Prancing Horses, also going under the hammer at the 2021 RM Sotheby’s Monterey sale is a Scaglietti-bodied Ferrari 275GTB Competizione that’s competed at Le Mans three times, winning its class in 1967, and that’s been raced at Imola and Spa-Francorchamps.

It also has a pre-sale estimate of $8-10m.

In-house competition?

Or how about the spectacular 1983 Porsche 956 Group C-era racer, that carries a $4.5-6m estimate.

A double Le Mans competitor, chassis number 956-110 is the only Porsche 956 to have raced and won in the US in period.

Tipped for the top

RM Sotheby’s has a mouth-watering line-up for its 2021 Monterey sale, of that there is no doubt.

But surely none can eclipse this Gulf-liveried Porsche 917 with its special and fully documented history.

Magnificent seven

Jürgen Neuhaus claimed seven wins in this car, including at the Nüburgring. In fact, when driving 917-031/026 it seems he either won, DNFed, or finished fourth or fifth.

Other than when it retired from competition, this car has never finished outside the top 10. Although, of course, its last race was back in September 1973.

Destination unknown

We just hope that it will go to a home where it will be well cared for and not hidden away from the public.

And what a treat it would be to hear that engine again. RM Sotheby’s describes it as follows: ‘the unmistakable symphony of the flat-12-cylinder at full revs.’

Not long to wait

Back in its original 1970 specification and forever known as the car in which Steve McQueen ‘won’ Le Mans on film, this Porsche 917K will attract a lot of attention when it heads to auction.

How close will it get to its huge $16-18.5m estimate? Will it set a new marque record?

The countdown is on…

This 1970 Porsche 917K will cross the block at the RM Sotheby’s Monterey sale, on 12-14 August 2021 during the world-famous Monterey Car Week. And it could make history.

The auction will take place at the Monterey Conference Center and you can view the full lot list here.