The value of a classic car depends on its victories at popular race tracks, a famous past owner, or its appearance in a Hollywood movie. Over the years, some cars have become movie stars, merging society’s love affair with Hollywood and its love for the automobile.
The rare car market features gems considered highly valuable because of their connection to cinema. They offer the best of both worlds: good looks and high value. Movie cars combine the movie collectibles market with the rare automobile market.
Over the last ten years, the movie cars collectibles market has grown into a multi-million dollar industry and outperformed all other forms of investments. Let’s look at 3 famous and highly priced Hollywood wheels that sold for millions of dollars.
1968 Ford Gulf GT40
This rare car is the ultimate movie car and has many firsts. It’s the most expensive American car sold at an auction and also the most expensive movie car ever sold. It was sold for an eye-popping $11 million in 2012 at an auction event held by Sotheby’s RM Auctions. The price is a real bargain considering the car’s achievements.
It was the first car made from carbon fiber because the manufacturers wanted a car that was powerful yet lightweight. It also had a good racing history, having participated in the 1968 Le Mans Endurance Race.
This Ford is the first of three lightweight GT40s that were custom-built for racing. However, it’s one of the only two left. The car was also part of the much-acclaimed 1971 Le Mans racing film featuring Steve McQueen. It was a camera car but still got featured in the movie for a few minutes.
Nearly 50 years old, it has a striking, modern look and is a sight to behold. It’s loved by both car enthusiasts and moviegoers.
1965 Shelby Cobra Daytona Coupe
The Daytona Coupe is another Steve McQueen car. It wowed movie goers when it debuted in the year 1965–when the movie Redline 7000, an action sports film starring James Caan–came out.
The movie was about young people trying to establish themselves as stock-car racers and their complicated romantic relationships. It was James’ first lead role.
While car collectors were sure the car was worth a lot, many were still surprised when the Coupe sold for an unbelievable $7.69 million in 2009 at an auction in Monterey. This was a much higher price than the movie’s $1.35 million budget.
At the time of purchase, the car broke the record by being the highest priced American car. It’s a classic racing car and the only American vehicle to ever beat a Ferrari in racing.
1956 Ferrari 250 GT LWB Berlinetta
This is a very rare car, only 77 were produced in four years. It’s nicknamed the “Tour de France” because for four years in a row, it won the popular Tour de France sports car race.
Prior to being bought by Walt Disney Studios, the car changed hands several times. It became popular when it appeared in Disney’s “The Love Bug” film which was released in 1968. The classic movie was about a racing Volkswagen Beetle known as Herbie.
Unfortunately, the Ferrari didn’t get enough screen time, but that didn’t stop people from falling in love with it. In 2012, the incredible Ferrari LWB Berlinetta sold for $6.7 million at an RM Auctions event in Monterey, California. What’s hard to believe is that the car had been abandoned for a while before being restored to its former magnificent state.
What started as a hobby–collecting movie cars–has become a gigantic business with large-scale auctions allowing car enthusiasts to spend millions of dollars on cars. If you own a vintage car and you’re strapped for cash, search for “car title loans near me.” It may be worth more than you think.