McLaren F1 brings $4 million price tag at auction

The McLaren F1 was to the 1990s what the Bugatti Veyron is to today - a super-expensive limited volume hypercar that at one time was the world's fastest production car. Last night, an 11-year-old example proved that despite an intervening decade, the McLaren is not only still in high demand but also a strong investment, garnering a £2.5 million (approx. $4 million) sale price at auction in London.

That might seem an extraordinary price, and it is - about $1.75 million more than its appraised value. As an ex-showroom car with just 270mi (434km) on the odometer, the McLaren F1 was still dubbed a fair investment given the tough economy, since it was essentially the very last new example of the car - despite its 1997 vintage, reports AutoTelegraaf.

Auctioned off by RM Auctions, the F1 was joined by over 100 other classic and collector cars for sale, but few managed to bring their expected price, and 30% of the cars didn't even find a buyer, including a short wheel base 250GT California Spyder used by Cameron Diaz in a Charlie's Angels film.

McLaren's legacy isn't entirely in the past, however. It is reported to be working on a range of cars, including a next-generation F1-successor, a mid-range GT and a relatively affordable sports car. For more information about these upcoming vehicles, read our previous coverage.