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Formula I Racer

5540-1·LEGO·1986·128 parts

Used Avg

$65.45

New Avg

$64.99

Add to your inventory Scan the minifigs

About Formula I Racer

Formula I Racer (5540-1) is a LEGO LEGO set from 1986 valued at $65.45 on BrickLink. It contains 128 cataloged parts. This set has been retired and is only available on the secondary market.

Seller notes

This is a vintage set (1986). Condition of the box and instructions significantly affects value. A complete set with original box and instructions can sell for well above the average.

Parts (128)

Model Team Poster - (Set 5540)

Wheel 30mm D. x 13mm (13 x 24 Model Team), with Black Tire 13 x 24 Model Team (2695 / 2696)

×10

Tire Technic Wedge Belt Wheel

×2

Brick 2 x 4

Brick 2 x 3

Brick 2 x 2

Brick 1 x 2

×3

Brick 1 x 2

×4

Brick 1 x 2

×4

Brick 2 x 8

Brick 1 x 8

×4

Brick 1 x 6

×2

Brick 1 x 4

×3

Brick 1 x 4

×3

Brick 1 x 4

×4

Plate 2 x 4

×3

Plate 2 x 4

×2

Plate 2 x 4

×2

Plate 2 x 4

×3

Plate 2 x 4

Plate 2 x 3

×2

Plate 2 x 3

×2

Plate 2 x 2

×2

Plate 2 x 2

Plate 1 x 2

×4

Plate 1 x 2

×12

Plate 1 x 2

×2

Plate 1 x 2

×26

Plate 1 x 2

×3

Plate 1 x 1

×6

Plate 1 x 1

×4

Plate 1 x 1

×2

Plate 1 x 1

×2

Plate 1 x 1

×2

Plate 6 x 12

×2

Plate 4 x 4

Plate 4 x 6

Plate 2 x 8

Plate 4 x 8

Slope 45 2 x 4

×2

Slope 45 2 x 2

×2

Slope 45 2 x 1

×2

Slope 45 2 x 1

×2

Slope 45 2 x 1

×4

Slope 45 2 x 1 with Keypad with Black Buttons Pattern

×2

Slope 45 2 x 2 Double Convex Corner

×2

Brick, Round 1 x 1

×6

Tile 2 x 2

×3

Tile 1 x 2

×8

Tile 1 x 2

×2

Tile 1 x 2

×3

Tile 1 x 2

Tile 1 x 1

×3

Tile 1 x 1

×3

Slope 33 3 x 4

×4

Slope 33 3 x 2

×2

Slope 33 3 x 2

×3

Plate 6 x 14

Plate 1 x 8

×3

Plate 1 x 8

×4

Brick 1 x 3

×8

Plate 1 x 3

×2

Plate 1 x 3

×4

Plate 1 x 3

×4

Slope, Inverted 45 2 x 2 with Flat Bottom Pin

×4

Slope, Inverted 45 2 x 1

×4

Slope, Inverted 45 2 x 1

×8

Plate 1 x 6

×4

Slope 33 3 x 3 Double Convex Corner

×2

Technic, Brick 1 x 2 with Hole

×4

Technic, Axle 4L

Technic, Axle 6L

×2

Technic, Axle 8L

×3

Plate 1 x 4

×5

Technic Bush

×9

Technic, Gear Rack 1 x 4

×2

Technic, Axle 1L with Pin without Friction Ridges with Round Hole

×14

Plate, Modified 1 x 2 with 1 Stud without Groove (Jumper)

×8

Plate 2 x 6

×4

Plate 2 x 10

×3

Plate 2 x 10

Technic, Brick 1 x 6 with Holes

×2

Hinge Brick 1 x 2 Base

×4

Hinge Brick 1 x 2 Base

Hinge Brick 1 x 2 Top Plate

×4

Hinge Brick 1 x 2 Top Plate

Plate, Round 2 x 2 with Axle Hole

×6

Plate, Round 2 x 2 with Axle Hole

×4

Brick, Modified 1 x 1 with Headlight

×2

Brick, Modified 1 x 1 with Headlight

×8

Brick, Modified 1 x 1 with Headlight

×12

Plate, Round 1 x 1

×8

Bar 1 x 4 x 2 with Open Studs

Technic, Gear 14 Tooth Bevel Thin

Tile 1 x 8

×2

Ladder 1 1/2 x 2 x 2

×4

Technic Wedge Belt Wheel (Pulley)

×2

Technic, Steering Arm with 2 Pin 1/4, Pin Hole, and Axle Hole

×2

Technic, Plate 1 x 6 with Toothed Ends

×2

Technic, Plate 1 x 4 with Toothed Ends

×4

Technic Bush 1/2 Toothed with 4 Interior Ridges

×7

Hinge Plate 1 x 2 with 3 Fingers on End - Solid Studs

×4

Hinge Plate 1 x 2 with 2 Fingers on End - Solid Studs

×2

Slope 33 3 x 1

×4

Slope 33 3 x 1

×4

Slope 33 3 x 1

×4

Slope 33 3 x 1

×8

Slope, Inverted 33 3 x 1

×2

Slope, Inverted 33 3 x 1

×10

Plate 1 x 10

×4

Plate 1 x 10

Hinge Tile 1 x 2 1/2 with 2 Fingers on Top

×2

Cone 1 x 1

×2

Tap 1 x 1 with Hole in Nozzle End

×2

Wedge 4 x 4 Taper without Stud Notches

Slope 45 3 x 4 Double / 33

×2

Panel 1 x 2 x 2 - Solid Studs

×12

Sticker Sheet for Set 5540 - (197915)

Hose, Flexible 8.5L with (Same Color) Tabless Ends

×2

Hose, Flexible 8.5L with (Same Color) Tabless Ends

×2

Common questions about Formula I Racer

How much is LEGO Formula I Racer (5540-1) worth?

Formula I Racer sells for an average of $65.45 used and $64.99 new/sealed on BrickLink based on 6 months of completed sales. As a retired set, prices tend to hold steady or appreciate over time, especially for complete sets with original packaging. Actual prices vary with completeness — missing minifigures or key parts will lower the value.

Is LEGO Formula I Racer (5540-1) retired?

Yes, Formula I Racer was released in 1986 and has been retired from retail for several years. Retired LEGO sets are only available on the secondary market through BrickLink, eBay, or other resale platforms.

How do I check if my Formula I Racer set is complete?

Use the parts list on this page to check every piece. For the minifigures specifically, you can use the brick'em scanner to identify each figure from a photo and confirm it matches what should be in this set. Missing pieces can be individually sourced on BrickLink.

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