It may be hard to believe in 2014, but by 1968, Porsche had never won a 24 hour endurance race. The 1968 907 Longtail changed that, going 1-2-3 at the 24 Hours of Daytona. This car that's hitting the auction block at Gooding & Co? It finished first, and is therefore quite possibly the most important race car in Porsche's vast history.
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So it could compete with the big boys like Ferrari and Ford, who were in the midst of their titanic clash that resulted in the GT40s, they shaped the car to be as aerodynamically slick as they possible, hence the really long tail and the name. It worked, too — the car was so efficient at cutting through the air, it would even be good by today's standards.
One neat little trick Porsche used: because most tracks are run in the clockwise direction, they put the steering wheel on the right side of the car, because moving the driver helped to keep the car as balanced as possible. It was also unbearably hot inside the cars, so the drivers had to wear NASA-developed vests to help them stay cool.
Helping everything actually get up to speed, Porsche developed this flat eight cylinder engine to have a low center of gravity for handling purposes. It was so new they didn't have proper time to test it. That it even finished its first couple of races was a little surprising to the engineers.
This specific car is the one that won at Daytona. Because it was Porsche's first ever 24 Hour win, it's without a doubt one of the most significant cars in the history of the company. That it also won its class at LeMans a few years later doesn't hurt, either.