Formula One – 2009 Market & Price Guide

After some 50 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 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 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-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. During this time frame, the miracle of the racing sponsor was created, and teams grew in size. Great inventions were designed, such as the 3-liter Cosworth DFV engine, the slick racing tire, aerodynamic aides such as simple wings and full ground effects. This was the beginning of the English racing car industry with manufacturers who relied heavily on Cosworth engines and Hewland gearboxes, as well as the racing comeback of Alfa Romeo. World championship drivers included Andretti, Brabham, Fittipaldi, Hill, Hulme, Hunt, Jones, Lauda, Piquet, Rindt, Rosberg, Scheckter, and Stewart.

Historic Formula One races are run by the U.S.-based HGP (Historic Grand Prix) which allows cars to run from 1966–1983 with 3-liter normally aspirated engines and no sliding skirts. In Europe, there is the FIA championship, which allows cars from as late as 1985 to run, but also non-turbo and with no sliding skirts. The GPM (Grand Prix Masters) allows cars to run through 1977, which are non-turbo, non-ground effect cars. The Monaco Historic Grand Prix is for cars 1977 and older.

This year the HGP calendar of events for 2009 is as follows: The Road Racing Classic in Lime Rock Park, Conn., May 22–25. Les Sommet des Legendes in Mont Tremblant, Quebec July 10–12. The Kohler Challenge in Road America, Wisconsin on July 17–19. As a support race with the Indy Racing League at Infineon Raceway, Sonoma, California on August 21–23 and with the SVRA at N.J. Motorsports Park in Midville, New Jersey on October 2–4. To peruse the full schedule and find complete information go to www.historicgrandprix.com.

1976 Tyrrell P34

The Tyrrell Racing Organisation was founded by Ken Tyrrell in 1958. Tyrrell started racing in the small single-seater formulae like F3 and Formula Junior, but in 1968, Tyrrell entered Formula One in partnership with Matra. By 1970, Tyrrell had become a full-fledged Formula One constructor, building its own cars. By 1973, Tyrrell had won three drivers and one constructors World Championships with Jackie Stewart. Uncle Ken, as he was known, was a clever fellow and, in response to the rules changes in 1976, he had chief designer Derek Gardner pen the (project 34) P34 six-wheeler. This car used specially built, 10-inch diameter front wheels and tires with two standard-size wheels and tires at the rear. The idea of the smaller front tires was to increase air penetration with a smaller frontal area that would reduce drag. Since the smaller tires would mean less contact area between the tire and the road, and therefore less mechanical grip for cornering, four 10-inch front wheels were used. All four front wheels could be steered.

The P34 was powered by the Cosworth DFV engine mated to a Hewland gearbox. It first raced at the 1976 Spanish Grand Prix and won in Sweden later that year with Jody Sheckter driving. Goodyear, which had made the special 10-inch race tires, did not keep up development on the tire, and the car eventually became less competitive. The FIA soon ruled that all Grand Prix cars were to have no more than four wheels, but the P34 remains one of the most recognizable racecar designs of all time.

1978 Williams FW06-Cosworth

Frank Williams, one of Grand Prix racing’s most successful constructors started from humble beginnings. He first entered Grand Prix racing in 1969 with a Brabham BT26 for Piers Courage to drive. This was followed in 1970 by a Dallara-designed DeTomaso-Ford, in 1971 and 1972 March-Fords, and in 1973 an Iso-Rivolta sponsored by Marlboro. These Iso-Marlboro cars were entered in 1975 as Williams-Fords and the FW car designation had begun. In 1976, Williams acquired the Hesketh 308C and, partnered with Water Wolf, badged them the FWO5. In 1977, he went back to March. For 1978, a young designer who had been with Lola, Patrick Head, was hired. Head designed the Williams FW06-Cosworth, the first F1 car of his own design, a wedge-shaped machine that did not follow the wing car concept of Lotus. Sponsorship came from Saudia Airlines and Albilad. The driver was Australian Alan Jones, who was immediately competitive. Williams Grand Prix engineering was off and running, and soon to win a World Championship with the FW07 Series. The FW06 was the first true Williams-Head collaboration.

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.