1960 Ford GT40 could top records

The retired racer is currently part of the privately-owned David Bowden Collection of ultra-desirable road and race cars - including 1970s touring cars raced by Allan Moffat, Ian Geoghegan and Norm Beechey - in Queensland, but has just been put up for sale. The final price could easily top $2 million despite the global economic crisis.

The GT40 was built so Ford could trump Ferrari at the Le Mans 24-hour race and got its name because it was only 40 inches tall.

Bowden's car is an early Mark I with a 289-cubic inch V8 engine that was originally raced before being converted for road use. It is painted in dark pine green and even comes with its original fibreglass bodywork.

So, why is it up for sale? "It's a road car and, every time it goes out, David taps his fingers with worry," says Chris Bowden. "There is just no fun in it. And we've been moving a few cars around over the past couple of years."

He is confident the car will top any sales records in Australia, official or unofficial, including the $1.25 million paid last year for a Lotus 25 Formula One car once raced by the famous Jim Clark.

"It's hands-down, the GT40 will beat it. For the last 15 or 20 years we've kept a close eye on things. Nothing's ever come on the market at this sort of numbers," Bowden says. But there is a catch for the sale of the GT40 - Bowden does not want the car to leave Australia.

It was bought from Britain but Bowden does not want to see it heading back to Europe, partly because it is the only fully-original Mark I in Australia and is unlikely to be replaced. "It's the only one in the country. To get one overseas and bring it back would be incredibly expensive, probably around $3 million with taxes and everything," Bowden says.

So, what will the car make? It's not going up for auction, but will be sold privately through the Bowden family's extensive connections. "We're aware that we're not at the top of the market. $2.75 or 3 million would have been achievable about 18 months ago. It's global value is about $2.2 million," Bowden says.

He's not expecting a flood of enquiries about the car, but is confident it will sell. "The GT40 world is a small world. If you want a real one, this is it. And you won't get another chance. I hope anyone who has lusted after a genuine GT40 realises this is a one-off opportunity," says Bowden.