Formula 5000 – 2019 Market & Price Guide

Formula 5000 was a racing series for open-wheel, single-seat racing cars built to a specific set of rules. The engine of choice was the venerable small block Chevrolet V8 of five-liter displacement. It started as a bright idea in 1967 and ran successfully until politics among the governing body, race organizers and team owners did it in at the end of the 1976 season.

Although there were four competitive Formula 5000 championships: the Rothmans series in Europe, the Tasman series in Australia and New Zealand, and the Tarmac series in Britain, the heart and soul of Formula 5000 was the North American series. In the early 1970s it was known as the L&M Championship after title sponsor L&M Tobacco. In 1974, the SCCA and rival governing body USAC merged to run Formula 5000. A variety of chassis manufacturers took part, but the car that dominated the later years of the series was the Lola T332.

Even though the rules allowed the turbocharged Offenhauser engine to run, the engine that dominated the series was the Chevrolet five-liter V8, which could put out a reliable 550 bhp and 425 lbs-ft of torque at 8,000 rpm.

Even though many top drivers such as Mario Andretti, Mark Donohue, David Hobbs, James Hunt, Alan Jones, Jackie Oliver, Jody Scheckter and Al Unser took part, the dominant driver one associates with Formula 5000 is Brian Redman, who won a hat trick of  championships in 1974, 1975 and 1976.

Today, Formula 5000 cars represent a lot of racing performance for one’s money. One of the most important factors in determining current market value is the cost and quality of the restoration. It is also important to note that currently, in New Zealand, Australia and Great Britain, F5000 cars have a greater following than in America and, therefore, command a greater value. This, combined with currency rates, import duties, and VAT can create a 25-35 percent premium in the estimated value of the vehicle in these countries.

1976 Chevron B37 F5000

Derek Bennett’s Chevron cars in Bolton, England had considerable success competing in F5000 with their B24, B28, and B30 designs. The last Chevron F5000 car built was the 1976 B37 of which only one was built, specifically for Peter Gethin and the VDS team. The B37’s first outing was at Pocono, in May of 1976, driven by Peter Gethin. However, with F5000 being replaced in the US, by single-seat Can-Am, Gethin and VDS took the B37 to Australia, in 1977, where the car ran against Team VDS’s Lola T432 being driven by Warwick Brown. In Gethin’s hands, the B37’s best finishing position was a run of 2^ndplace finishes at Oran Park and Surfers Paradise, placing Gethin 2^ndin the championship that year to his teammate. The B37 was a fast car, with a lot of potential, but sadly Chevron cars did not have a big budget and did not build any more F5000 cars. In fact, Chevron stopped production of all racing cars in 1978 when Derek Bennett died in a hang-gliding accident. The B37 still exists today and is currently being campaigned in the UK.

McLaren M10A–B F5000

Bruce McLaren’s company had considerable success in Can-Am racing and had started venturing into Formula One with their M7A, when McLaren’s design team, which included Gordon Coppuck, decided to build the M10A F5000 car. The M7A was modified to accommodate the 5-liter Chevrolet V-8 and Hewland LG600 gearbox. The M10A was a more sophisticated monocoque design than its rival the Lola T140, which had a simple spaceframe. McLaren’s build and design standards were first class and this was reflected in the much higher price charged. An M10A was entered for Peter Gethin in the British series. Gethin won the championship over Trevor Taylor’s Surtees TS5 but only at the last race of the year.

In the United States, Sam Posey ran an M10A with considerable success only losing out to the Eagle of Tony Adamowicz. In 1970, the much-modified M10B was introduced with various improvements and the lighter Hewland DG300 gearbox. McLaren’s success continued in Europe with Peter Gethin winning eight races. Other notable drivers were Graham McRae, Howden Ganley, and Reine Wissel. Seventeen M10A’s and 21 M10B’s were built by Trojan, McLaren’s division for customer cars. Today, these cars are a shining example of McLaren’s technical achievements and a joy to see run.

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.