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Jerry Seinfeld Turned Down $25 Million for Steve McQueen’s ‘Le Mans’ Porsche 917K

Sometimes a record-setting bid just isn’t enough.

Bidding for the Porsche 917K that Steve McQueen drove in Le Mans reached $25 million at Mecum Auction’s annual Kissimmee sale this past Saturday. That fee would have set a new record for a Porsche sold at auctionbut it wasn’t enough for the current owner, Jerry Seinfeldwho turned it down.

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It’s only a matter of time until Seinfeld’s 917K becomes the most expensive Porsche of all time and it’s easy to see why. Chassis 917-022 was built in 1969 and delivered, the next year, not to a racing team but to Steve McQueen’s Solar Productions. The car was then finished in its iconic power blue and orange Gulf Oil racing livery and shipped to France’s famed Circuit de la Sarthe for filming. It is Le Mans’s “hero” car, having been driven by none other than the King of Cool himself. Another 917K used production, chassis 017-024, is the current most valuable Porsche, which sold for $14.08 million in 2017.

The 1969 Porsche 917K from “Le Mans”The 1969 Porsche 917K from “Le Mans”

The 1969 Porsche 917K from “Le Mans”

Following filming, chassis 917-022, bounced between a couple of collectors before ending up in the collection of race car driver Richard Attwood in 1977. The Le Mans winner would hold on to the car until 2000, when he sold it to renowned New Jersey Porsche collector Frank Gallogly for a then-model-record $1.32 million.  Seinfeld bought it the next year for an undisclosed sum. In preparation for this year’s sale, the comedian sent the car for an extensive rehaul, which included a full rebuild of its 5.0-liter V-12.

So why did Seinfeld turn down the $25 million bid? The comedian may feel that the car  could go for more at a later date. He may have also found the thought of parting with a car he’s owned for over two decades too tough to bear at the moment. It’s not as if Seinfeld, who Bloomberg reports is a billionaire, really needs the money.

Chassis 917-022 is signed by Steven McQueenChassis 917-022 is signed by Steven McQueen

Chassis 917-022 is signed by Steven McQueen

A representative for the comedian did not immediately respond to a request for comment from Robb Report.

Seinfeld’s 917K may not have ended up selling this past weekend, but that didn’t stop Mecum’s Kissimmee sale from bringing in millions. Nine cars sold for over seven-figure sums, including the first Ford GT40 Mk I road car delivered, which sold for a show-best $7 million.

Click here for more photos of Steve McQueen’s Porsche 917K from the movie Le Mans.

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