GT40 1059P was built in 1967 as a competition-spec street Mark I, was used briefly by Shelby as a display car and delivered to Stark-Hickey Ford near Detroit. According to Ronnie Spain's GT40 book while still owned by Stark-Hickey it incurred damage to the roof although we can find no sign of that, there was some minor damage on the left door that has been perfectly repaired. It also was repainted from the original burgundy color to white with blue racing stripes, we have found traces of the original color. The dealership used it as a showroom display car until 1970 when it was sold to a friend of mine, Herb Wetanson, who at the time was buying up GT40's as investments; he had six at that point. Herb kept it less than a year and sold it, with 2000 miles on the odometer, to Dr. Jack Frost of Des Moines Iowa. Dr. Frost was a car collector and had several great cars of the period. The car saw little use during Frost's ownership and acquired only 4,500 total miles. Frost kept it stored in his humidity and temperature controlled basement until he took it to Barrett-Jackson in 2002 where he sold it without reserve. I was the fortunate high bidder.
During his ownership it was cosmetically restored, apparently with just new paint and replacing the fuel bags. Virtually all of the mechanical and interior pieces are very original. It was still on its original wheels and Goodyear Blue streaks when I bought it in 2002. I have bagged the Goodyears and put Michelins on for the time being. It has its original complete driveline of course and since we have had it I have put less than 200 miles on it. We just drive it to maintain it. We went through the Weber carbs as they were a bit gummed and cranky and it is very smooth now. We also removed the fuel bags to see if there was rust in the chassis, there was only minor surface rust which we cleaned up. We fabricated new metal fuel cells for it.
The overall condition is extraordinarily original, in fact Ronnie Spain told Dr. Frost that it was the most original car he had seen. The paint is badly spider webbed and the pearlescent paint has dulled up a bit. To my knowledge the car has never been seen at a show or race other than Dr. Frost's entry at the GT40 reunion at Road America in the '90s. He added a fire bottle for that event which is still in the car. I took it to Road America for the 2009 GT40 reunion as well.
This may be the most original GT-40 in existence. Stark-Hickey, Wetanson and myself are dealers, so if you don’t count dealers this is a one-owner car with 4600 documented miles.