Few motorcycles command the kind of mystique that the Petronas FP1 does. This bike is one of the most elusive homologation specials ever built simply because it was a superbike that was meant to make it big in the racing world, but for one reason or another, never really found its place on the world stage.
With only 150 units ever made—and reportedly just 75 reaching the public—the FP1 is an enigma, a machine that exists in whispers among collectors and racing enthusiasts. Now, one of these ultra-rare machines has surfaced at Iconic Auctioneers, adding yet another layer of intrigue to its already shadowy history.
The FP1 was the brainchild of Petronas, the Malaysian oil giant, which had ambitious plans to enter MotoGP in the early 2000s. Partnering with Sauber Petronas Engineering, the company developed a 989cc inline-triple prototype that was initially meant to compete in MotoGP’s new four-stroke era.
But when MotoGP regulations changed, raising the displacement limit to 990cc, Petronas found itself in an awkward position. Rather than re-engineering the bike, the company pivoted to the World Superbike Championship, where the FP1 could compete as a 900cc triple—if it met homologation requirements.
Homologation rules required 150 road-going units to be built before the bike could race. The first 75 were constructed in the UK, with the next 75 slated for production in Malaysia. However, before the full batch could be completed, rule changes, financial setbacks, and geopolitical factors in Malaysia effectively killed the project.
Alas, Petronas withdrew from WSBK in 2006, leaving the FP1’s legacy frozen in time. Many of the bikes never even left storage, making the FP1 one of the rarest superbikes ever made.
So, why is the FP1 so sought after? Beyond its rarity, the FP1 is an artifact from an era of seemingly limitless ambition in motorcycle racing. It features a carbon-fiber body, a tubular steel trellis frame, and a high-revving 899cc triple producing around 127 horsepower for homologated bikes, and a whopping 185 horsepower for race bikes. It was a true racing machine adapted for the road, yet it never got the chance to fulfill its destiny.
Over the years, FP1s have popped up at auctions in Europe and the UK, often commanding prices between £25,000 and £50,000 ($30,000 to $60,000 USD). Some have sold, others have lingered in limbo, further shrouding the bike in mystery. And that brings us to the latest chapter in this story.
Listed at Iconic Auctioneers, this particular FP1, Lot 211, is an unused example with only “push miles.” It has never been registered, and while it has been started, it has spent its entire life as a display piece. The bike comes with a NOVA (Notification of Vehicle Arrival), indicating it has never been road-registered.
The auction listing describes it as a UK-built model, adding some credibility to the bike's lore. At the time of writing, the bike was listed with a price tag of £45,000, and remains on Iconic Auctioneers’ website, with no confirmation of a sale. Did a private collector quietly snatch it up? Did a museum secure it as part of its racing history exhibit? Or is it still waiting for the right bidder to take it to its forever home?
The fate of this FP1 remains uncertain, but one thing is clear: whoever ends up with this machine is acquiring a piece of motorcycling history. Will it be restored and ridden, finally getting the road time it was denied decades ago? Will it be locked away in a collection, never to turn a wheel in anger? Or perhaps it will become the centerpiece of a museum, preserved for future generations to admire? Perhaps we'll find out soon enough.
Whatever the case, the Petronas FP1 is more than just a rare motorcycle—it is a symbol of what could have been. And for the lucky individual (or institution) that claims this bike, they won’t just own a machine. They’ll own a piece of history destined for legend.
Source: Iconic Auctioneers
