At first, we heard it called the most expensive Ford ever auctioned off. Now, RM Auctions is boasting that it is the most expensive American car ever sold at auction.

Either way, $11 million is a lot for a former race car. This one is the Ford GT40 Gulf/Mirage lightweight racer that took on the likes of Ferrari in the 1960s. It came up for bid in Monterey, Calif., this weekend, where Drive On was able to take a close look at it.

The car posted four consecutive victories in the Le Mans 24-hour endurance race from 1966 to 1969.

RM says the car resulted from Ford CEO Henry Ford II's failed attempt to buy Ferrari and a subsequent desire to prove that Americans could win some of the world's most coveted racing titles without having a European exotic-car maker in a back pocket.

It was used as a mobile camera car for Steve McQueen's film, Le Mans. It was one of the few cars that adhere to McQueen's edict that the cars be filmed at actual racing speeds. The car has been the hands of collectors ever since.