After some 50 years of automobile racing, the Grand Prix Formula or Formula One was established 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 Drivers Championship, in the world’s most technically advanced single-seater racing cars. In 1958 the World Constructors Championship was added. Now one would at last know who the best driver in the world was, as well as which manufacturer 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 500kg to 585kg weight minimum, and powered by 3.0-liter normally aspirated engines.
Formula One started from very humble beginnings. Teams were comprised of groups of talented people working out of small garages, trying to find the money to go racing. During this timeframe the miracle of the racing sponsor was created, and teams grew in size. Great inventions were designed, such as the 3.0-liter Cosworth DFV engine, the slick racing tire, aerodynamic aides ranging from simple wings to full ground-effects. This benefited the English racing car industry as manufacturers relied heavily on Cosworth engines and Hewland gearboxes.
World Champion drivers included Mario Andretti, Jack Brabham, Emerson Fittipaldi, Graham Hill, Denis Hulme, James Hunt, Alan Jones, Niki Lauda, Nelson Piquet, Jochen Rindt, Keke Rosberg, Jody Scheckter and Jackie Stewart.
Historic Formula One races are run by Masters Historic Racing in both the USA and Europe, allowing cars from 1966-1983 with 3.0-liter normally aspirated engines, no turbos and no sliding skirts. The Grand Prix de Monaco Historique is a special event held once a year on the street circuit in Monte Carlo, with a variety of classes including one for F1 cars constructed prior to 1977.
1970 Ferrari 312 B
The Ferrari 312B was a new design under the direction of engineer Mauro Forghieri for the 1970 season. It was responsible for bringing Ferrari back to winning ways. The 312B design represented the end of the famous V12 engine in Ferrari single-seaters, and the beginning of the flat-12 “boxer” type engine that was to power Ferrari’s Formula One cars for the next decade. It had a lower center of gravity and better aerodynamics. Five cars were built for the 1970 season. The drivers were a returning Jacky Ickx and Clay Regazzoni. The Scuderia started from the front row for seven GPs, with Ickx winning three races and Regazzoni one, the Italian Grand Prix. Had the World Championship points been tallied up from midseason 1970 to midseason 1971, Jacky Ickx and Ferrari would have been World Champions. A successful design, a beautiful car and a winning history. An example of the design and engineering excellence of Mauro Forghieri and the Ferrari team.
1970 Lotus 72
For the 1970 season, Colin Chapman penned yet another innovative design with the Lotus 72. It would prove to be one of the most successful Formula One designs of the decade, with side-mounted radiators, inboard disc brakes and a wedge-shaped chassis. The shape was inspired by the Lotus 56 gas turbine car, and was more aerodynamic thus allowing for much higher top speeds. Ultimately striking in its John Player Special black and gold livery, the drivers included Jochen Rindt, Emerson Fittipaldi, Ronnie Peterson and Jacky Ickx. After 20 race wins, two World Drivers Championships and three Constructors Championships over five seasons, the Lotus 72 was retired. Clearly one of the all-time great designs.
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 |
