1968 Ford Mustang “Bullitt” Fastback

This “Bullitt” Mustang replica, Lot 101, sold for $88,000, including buyer’s premium, at Bonhams’ auction in Scottsdale, AZ, on January 16, 2014.

After all these years, Steve McQueen is still “The King of Cool.” He was just 50 years old when he died of cancer in 1980, but he left a legacy that has endured. Gearheads think instantly of the movie “Bullitt” and the famous chase scene, but Steve McQueen, and “Bullitt,” were so much more.

McQueen’s tough, cool persona was no act — he spent much of his teenage years living on the street — but time spent at California’s Boys Republic reform school give him purpose, and a stint in the Marines gave him direction and discipline. He raced motorcycles on the East Coast in the early ’50s while studying acting, often with another aspiring actor, Robert Culp. He moved back to California in 1955 to pursue his acting career, and the rest is history.

“Bullitt”

McQueen had a number of important leading roles, and one Academy Award nomination, before he slid behind the wheel of that green Mustang. But it was “Bullitt,” released on October 17, 1968, that cemented his stature in Hollywood.

More than just a crash-’em-up action flick, “Bullitt” was a detective story with a complex storyline and carefully developed pace. Critic Roger Ebert enthused, “McQueen is great in ‘Bullitt,’ and the movie is great, because director Peter Yates understands the McQueen image and works within it. He winds up with about the best action movie of recent years.”

It was the fifth-biggest box office draw in 1968, later winning the Academy Award for Best Film Editing thanks mostly to Frank P. Keller’s work on the chase scene. By 1974, Steve McQueen was the highest paid actor in the world.

Making a Mustang legend

But it’s the chase that defines “Bullitt” for most of us, a brilliant automotive ballet in and around San Francisco. Steve McQueen did about 10% of the driving in filming the 10-minute, 53-second chase, in only those close-up shots where he was clearly visible. Stuntman Loren Janes did the rest of the Mustang shots, while Bill Hickman drove the Charger and Bud Ekins drove some of the other vehicles.

Loren Janes told The Wall Street Journal, “We had three identical green 1968 Ford Mustang fastbacks and three black Dodge Chargers in the movie. Many writers have said two, but there were three of each. We needed the extra cars in case one was damaged. The movie’s shooting schedule can’t be slowed for dents and things like that.” Max Balchowsky, of “Old Yeller” race-car fame, reinforced the cars to withstand the pounding they endured.

Steve McQueen told Motor Trend, “Remember that banging going down? That was about 100 mph. I was bangin’ into Bill. My car was disintegrating. Like, the door handles came off, both the shocks in the front broke, the steering armature on the right front side broke and my slack was about a foot and a half. The Mustang was really just starting to fall apart.” No wonder one of the Mustangs had to be scrapped due to structural damage caused by the leaps and landings on the San Francisco hills.

Chad McQueen, Steve’s only son, was 7 years old at the time, and witnessed much of the filming of the movie. “Dad had to find a car that made sense for the movie,” Chad told the LA Times. “A really neat car for the character to drive, something a detective might afford on his salary. My dad hit that one right on the head. Still to this day, people know what that car is.”

Ford recognized the power of Steve McQueen’s image and the status of “Bullitt” in automotive circles, licensing the “Bullitt” name for the 2001 and 2008–09 “Bullitt” Mustangs. As part of the agreement, Chad was given the first 2001 “Bullitt,” and also owned the first 2008 “Bullitt.”

The McQueen factor

The whereabouts of the actual movie Mustangs is unknown. One may have been sold to a Warner Brothers employee after filming ended, and it’s rumored to survive but has not been seen in decades. That’s too bad, because anything Steve McQueen touched commands top dollar today. Bonhams made national news in 2007 when it sold McQueen’s 1964 Ferrari 250 Lusso for $2.31 million.

Motorcycles from McQueen’s collection are equally valuable, such as the 1938 Harley-Davidson WLD Solo Sport that sold at Mecum’s Anaheim sale last year for $137,500. Even McQueen’s 1952 Chevrolet 3800 camper reached $70,000 last year without selling. On a budget? In 2009, a framed monochrome photograph of McQueen with his Ferrari sold for $2,440 at a Bonhams auction. That’s right, a photograph.

A real replica

But our feature Mustang? It’s a nice tribute built in 2009 for Chad McQueen by Gateway Classic Mustang (GCM) of St. Louis, MO. The body shell is a new 1967 Mustang reproduction by Dynacorn, updated to 1968 trim. The engine, transmission, suspension and brakes are thoroughly modern, but the Mustang carries all of the visual cues of the original movie cars, right down to the license plate. The construction of the car was documented on TLC’s “Celebrity Rides” show.

It’s a great performance car, no question, with a classic look but modern feel. But even though Chad McQueen has had a career in racing and in the movies, his connection with this car adds little celebrity value. It’s also not unique, since GCM continues to build the “1968 Steve McQueen Signature Mustang,” although the estimated price for one is $150k. Desirable? Sure. Collectible? I don’t think so. Keep in mind, while it looks the part, this is a totally modern build — even most of the sheet metal is reproduction on this particular car.

Personally, I would rather own the first 2008 Ford Mustang “Bullitt” that Chad McQueen also sold at this auction. As Lot 102, it brought $49,500. Why would I want that car over the ’68? Simple. Job One always carries a certain mystique. There can only ever be one “number one,” and that’s what the 2008 car was.

But all that doesn’t mean this car wasn’t a good deal at the price paid. While it may not be a real car from the movie, or even a real Ford-built car from 1968, at least the buyer got it for a fraction of its build cost at GCM, and it still carries with it one hell of a cool factor. And to top it all off, part of the sale went to Steve McQueen’s favorite charity, the Boys Republic. So with all that in mind, I think it’s safe to call this both well bought and well sold.

(Introductory description courtesy of Bonhams.