Ford GT40 Auctions for Record $11 Million

A 1968 Ford GT40 car that was raced by Formula One driver Jacky Ickx at Daytona sold for $11 million, including sales commission, at an auction in Monterey, Calif., last weekend.

The blue and gold car fetched the highest auction price ever for an American car. Last year a 1931 Duesenberg roadster, the previous record holder, was auctioned for $10.3 million.

The auctioned GT40 also was raced in 1968 and 1969 by David Hobbs and won an endurance race at Monza in 1968. It was purchased by actor Steve McQueen and used as a car in McQueen's 1971 film Le Mans, which is often described as the best movie about auto racing ever made.

Ford Motor Co. Chairman Henry Ford II created the GT40 specifically to beat Ferrari cars at the 24 Hours of Le Mans endurance after Ford's attempt to buy the iconic Italian sports car maker collapsed. GT40s won the race in 1966, 1967, 1968 and 1969.