Formula One: America’s first cars up for sale at $3.5 million – CNN

Posted: Monday, August 03, 2015

(CNN)He was a wealthy playboy who counted movie icon James Dean among his friends and Hollywood actresses for wives.

But when Lance Reventlow, an heir to the Woolworth retail fortune, led the first U.S. team to compete in a Formula One World Championship there was no fairytale ending. Instead, his dreams of high-speed glory came spluttering to a halt.

Reventlow’s Scarab might not have won any prizes then, but the marque’s cars have become collector’s items and will shortly go up for sale at the UK’s Goodwood Revival meeting on September 12 for an eye-watering $3.5 million.

London auctioneers, Bonhams are handling the sale of both racing cars and their Fiat transporter, with Reventlow’s car alone expected to fetch around $1.5 million.

Lance Reventlow ploughed his family riches into the Scarab racing team.Lance Reventlow ploughed his family riches into the Scarab racing team.

“The Scarab team cars were fantastically quick, but unfortunately for Reventlow, not quick enough in their development,” Bonham’s auctioneer James Knight said in a statement.

“These Scarabs are spectacular and beautiful Grand Prix cars with a proven race winning record at historic motor racing events.”

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