The Crown Jewel of American Racing: A Rare 1965 Ford GT40 Roadster Prototype Heads to Auction

By Viknesh Vijayenthiran | March 19, 2025

For the automotive collector with an eye for history and a penchant for the legendary battles of the 1960s, few opportunities carry as much weight as the one appearing this May. At the 2025 Mecum Indianapolis auction, scheduled for May 9–17, a piece of motorsport royalty—the 1965 Ford GT40 Roadster prototype, chassis GT/109—will cross the auction block, offering a rare glimpse into the high-stakes world of Ford’s ambitious assault on the Le Mans 24 Hours.

The Significance of Chassis GT/109: A Main Fact Overview

The Ford GT40 is more than just a car; it is a symbol of American industrial might and the sheer stubbornness of Henry Ford II, who sought to defeat Ferrari on the world stage. While the production GT40s are celebrated, the true soul of the program lies in its prototypes.

Chassis GT/109 is a survivor from a brutal era of development. Built between 1964 and 1965, it is one of only 12 original GT40 prototypes constructed by the Blue Oval’s racing arm. Of those 12, only five were built as open-top roadsters. Within this elite subset, GT/109 holds a distinction that separates it from its peers: it is the only roadster prototype to have actually competed in the 24 Hours of Le Mans. Its appearance in the 1965 race, piloted by the legendary Maurice Trintignant and Guy Ligier, serves as a permanent, ironclad link to the golden age of endurance racing.

A Chronology of a Racing Icon

The story of GT/109 is one of constant evolution, reflecting the "trial by fire" methodology employed by Carroll Shelby and the Ford engineering team during the mid-1960s.

1965: The Baptism of Fire

The car’s competitive debut occurred at the 1965 24 Hours of Le Mans. While it was a testament to the engineering prowess of the time, racing at the highest level is unforgiving. Despite the prestige of its drivers, GT/109’s race was cut short on the 11th lap due to catastrophic gearbox failure.

The Post-Le Mans Laboratory Phase

Following its retirement at Le Mans, GT/109 did not fade into obscurity. Instead, it was shipped to Shelby American with orders for a complete rebuild. However, as the GT40 program pivoted toward closed-roof designs to optimize aerodynamics for high-speed stability, the plans for GT/109 shifted. The chassis became a rolling laboratory. It was utilized by Kar Kraft to develop experimental systems, including a groundbreaking automatic transmission, Ford’s Weber-carbureted four-cam Indy motor, and various proprietary brake and engine cooling configurations.

1968–2013: The Custodianship of Dean Jeffries

In 1968, the car was acquired from Ford by the legendary Californian customizer Dean Jeffries. Under Jeffries’ stewardship, the car transitioned from a factory development mule to a unique piece of automotive art. It remained with the Jeffries family for decades, serving as a testament to the ingenuity of the custom-car culture of the era.

2013–Present: Restoration to Glory

In 2013, Dana Mecum, the founder of Mecum Auctions, acquired the car from Jeffries’ son. Recognizing the immense historical importance of the chassis, Mecum initiated a comprehensive restoration. The goal was not to "hot rod" the vehicle, but to return it to its original 1965 Le Mans configuration. Today, it stands as one of only two surviving roadster prototypes in existence, a rolling piece of history that has been painstakingly returned to its period-correct splendor.

Technical Specifications and Restoration Integrity

The current state of GT/109 is a masterclass in period-correct preservation. Under the rear deck lid sits a HiPo 289 cubic-inch V-8 engine, meticulously rebuilt to the specifications of the era. Notably, the engine features a rare Ford/Shelby experimental intake manifold, breathing through original Weber carburetors.

Perhaps the most iconic visual and acoustic element of the car is the "Bundle of Snakes" exhaust system—a design synonymous with the Shelby GT40 program. This exhaust, paired with a rebuilt 5-speed manual transmission, ensures that the driving experience remains as visceral and raw as it was in the mid-1960s. The restoration team prioritized the preservation of factory-correct components, ensuring that the car serves as a functional time capsule rather than a modern recreation.

Supporting Data: The Scarcity of the Breed

To understand the value of GT/109, one must understand the attrition rate of the GT40 program. Ford was not sentimental about its prototypes; they were tools to be used, pushed to the breaking point, and discarded.

The first two prototypes, GT/101 and GT/102, were famously destroyed during high-speed crash testing. GT/101, which had been the star of the 1964 New York Auto Show, met its end in a controlled demolition that was necessary to gather data on chassis rigidity and safety.

Because of this institutionalized disregard for the "obsolete," the pool of surviving prototypes is minuscule. When GT/108—the only other surviving roadster prototype—was auctioned in 2019, it commanded a final bid of $7.65 million. That transaction set a benchmark, establishing that collectors view these prototypes not just as cars, but as foundational artifacts of 20th-century history.

The Auction Perspective: Why the Third Time is the Charm

The inclusion of GT/109 in the upcoming Indianapolis auction is a significant moment for the market. It marks the third time the car has been presented by Mecum; it previously went under the hammer in 2018 and 2020. On both occasions, the vehicle was passed in—a reflection of the high reserve price set by the owner, who is clearly aware of the car’s irreplaceable status.

Market analysts suggest that the timing for the 2025 auction may be ideal. As the collector car market continues to shift toward "provenance-first" acquisitions, the story of GT/109—its Le Mans pedigree, its time at Shelby American, and its connection to Dean Jeffries—provides a narrative depth that is increasingly rare.

Implications for the Collector Market

The sale of GT/109 carries broader implications for the high-end collector market. Firstly, it reaffirms the dominance of Ford GT40s in the hierarchy of blue-chip investments. Secondly, it highlights the increasing value of "development history." Collectors are no longer satisfied with standard production models; they are seeking vehicles that document the iterative process of engineering.

For the automotive world, the auction is an opportunity to witness the final transition of a vehicle from a private collection to a new steward. Whether the car meets its reserve this time remains a subject of intense speculation, but the outcome will undoubtedly dictate the valuation of Ford prototypes for years to come.

As the industry prepares for the May auction, the presence of GT/109 serves as a reminder of a time when the race to the top was fought with slide rules, wrenches, and a refusal to accept defeat. Chassis GT/109 is not just a car; it is the physical embodiment of the Ford-Ferrari war, a story that continues to captivate enthusiasts sixty years later. When the gavel finally falls in Indianapolis, the winning bidder will acquire more than a vehicle—they will become the custodian of a legend.