After some fifty years of automobile racing, the Grand Prix Formula or Formula One was formed by the FIA (Federation Internationale de l’Automobile) in 1950 with its first race, the British Grand Prix at Silverstone. This was to be the first world driver’s championship, in the world’s most technically advanced single-seater racing cars. In 1958 the world constructor’s championship was added. Now one would at last know who the best driver in the world was, as well as which manufacturers had constructed the best racing car. FISA was Formula One’s administrative body, which saw that everyone played by the ever-changing rules. In this guide, I am going to cover the period 1966–1983 for cars built to a 500-kg to 585-kg weight minimum, and powered by 3.0-liter, normally aspirated engines.
Formula One started from very humble beginnings. Teams were comprised of a group of talented people working out of small garages, trying to find the money to go racing. This time includes numerous great inventions, such as the 3.0-liter Cosworth DFV engine, the slick racing tire, aerodynamic aides such as simple wings to full ground effects. The beginnings of the English racing car manufacturers who relied heavily on Cosworth engines and Hewland gearboxes and the racing comeback of Alfa Romeo. World championship drivers include Brabham, Hulme, Hill, Stewart, Rindt, Fittpaldi, Lauda, Hunt, Andretti, Scheckter, Jones, Piquet and Rosberg.
Today one can race these exciting Formula One cars with the HGP (Historic Grand Prix)in the U.S. and with TGP or the Masters Series in Europe. When buying a Formula One car, condition and race preparationsare vital. It is also important to analyze the car’s racing history by chassis number.
1974–1975 Penske PC3/4
Roger Penske had success in all forms of motor sports, with sports cars, Can-Am and Indy cars. His team was centered around talented driver Mark Donohue. Wanting to venture into Formula One, Team Penske first acquired a McLaren M19 which Donohue drove to a 3rd place at Watkins Glen. Penske eventually purchased facilities in Poole, England, hired engineer Geoff Ferris and designed the first Penske Formula One cars with First National City Bank sponsorship. The 1975 Penske PC4 was considered one of the most striking designs in Formula One. Tragically, Mark Donohue lost his life racing the Penske in the 1974 Austrian Grand Prix, but the team rebounded and returned the following year for John Watson to win the race. Watson was very competitive in the PC4 during the 1975 and 1976 seasons. Unfortunately, internal problems and the loss of sponsorship stopped the Penske Formula One effort and the PC4s were subsequently sold to the ATS Wheel Company’s team. Today, it’s quite a sight to see a Penske PC4 racing in the HGP.
1979–1980 Ensign N179/180
Morris Nunn’s Ensign Cars was building Formula 3 racing cars for clients when Ricky Von Opel, of the Opel car family, asked Nunn to build him a Formula One car for the 1973 season. This first car, as were all Ensigns, was 3.0 Cosworth DFV-powered with a Hewland gearbox. Ensign struggled along underfunded, but with moments of brilliance, placing in the points, despite other times when the team did not qualify. By 1980, they had secured Unipart sponsorship and had a car designed by former Lotus engineers, Ralph Bellamy and Nigel Bennett, and driven by Clay Regazzoni. The N180 was considered a Williams FW07 copy and was quite a good car. Eventually Ensign was bought out by Teddy Yip, who merged it with Shadow Cars and formed Theodore Racing. Among those who drove for Ensign were Derek Daly, Marc Surer, Nelson Piquet, Chris Amon and Jacky Ickx. Nigel Bennett went on to design Penske Indy cars and Morris Nunn went on to run his own Indy car team. Clearly, the talent was there. Today with the multimillion-dollar world of Formula One, it is great to see cars such as the Ensign N179 and 180 race in the HGP, remembering the simpler days of Formula One.
Criteria Used For Assessing Valuations for this Guide:
- Degree of Originality
- Overall Condition, Restoration
- Technology, Design, Coachbuilder
- Production Numbers/Rarity
- Competition History
- Ownership History, Documentation
- Modern Event Eligibility
Regional Variances
The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT. Most of the time, we are able to document known sales or closed escrows, as they say in real estate. When this is not possible, a logical estimate of the car’s value is given, based on its sales history and relationship to cars of its type.
The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT.
LEVEL | VALUATION CATEGORIES |
|---|---|
I | The best combination of all criteria. |
II | Satisfies mid-range of criteria. |
III | In need of restoration. Meets only a few points of criteria |
