Mike John reckons his Ford Capri is worth about $1 million.

Mike John reckons his Ford Capri is worth about $1 million. Photo / Supplied

New Zealand motorsport identity Mike John knew he was on to a good thing when he steered the special Ford Capri he'd just restored into the pits at Pukekohe after a few laps.

"A mechanic for one of the V8 Supercar teams came over and said the Capri was sensational down the back straight, that even the Supercars would have trouble keeping up."

John knew he was on to an even better thing when he ran into Australian driver Allan Moffat, the Canadian-born ace who earned his reputation on circuits across the ditch in the 1970s and 1980s.

"When Allan learned I owned the Capri he grabbed my hand and kissed it. He said, 'You are one lucky fellow - that is a very special car."'

Moffat is just one top-drawer driver who has raced the car. Others include Formula One stars Jochen Mass, Niki Lauda and Jody Scheckter.

The Ford is a Cologne Capri RS3100 Group 2 car, one of only three built by Ford of Germany in 1973 for the 1974 European race season.

It runs a 3.4-litre V6 Cosworth GAA engine delivering between 315kW and 335kW to the rear wheels via a ZF five-speed gearbox.

"It's quick - boy, is it quick," said John. "You have to time the gear changes perfectly. The power really kicks in between 7500-8500rpm.

"I don't know its top speed - there's no speedo, only a rev counter. I rarely run it beyond 7400rpm and I can still get around Pukekohe in one minute five seconds."

John bought the Capri in 1993 in England. It was in the hands of receivers, one of many cars that belonged to a South African wheeler and dealer who, so the story goes, fled England after trying to sell a famous Bentley that wasn't his.

"It was good but a bit tatty when I got it," said John. "I did up the engine and gearbox almost straight away and restored the body later."

John has sold a half share in the Capri. "The other fellow wants to buy my share but I told him it will cost more than what he paid for his half."

The car takes centre stage on the Capri stand at the Ellerslie car show this weekend. What's it worth? "Probably about a million dollars."