Michael Schumacher Ferrari breaks record with $18m sale at auction

The Ferrari Formula One car that Michael Schumacher used to win the 2001 Monaco and Hungarian grands prix — and clinch that year’s world title — has sold for $18.17 million to become the most expensive F1 car driven by the legendary German driver ever sold at auction.

The F2001 car was sold by RM Sotheby’s at an event held ahead of qualifying in Monaco on Saturday, which was eventually topped by McLaren’s Lando Norris.

The event took place in F1’s Paddock Club hospitality setting that overlooks the city’s famous harbor. Bidding opened at €8 million ($9.09 million at current conversion rates), with the sale boiling down to bids from a telephone bidder and an event attendee bidding in the room. The eventual winning bid came from the room bidder and came in at €14.2 million, which rises to the final figure of €15.98m ($18.17 million) with fees included.

The figure beats the $13.2 million paid for a 2003 Ferrari F2003 sold by Sotheby’s at an event in Geneva in 2022, concerning cars driven by Schumacher. The new record holder now regains its status in such matters, as it had previously been sold at auction by Sotheby’s for $7.5m in 2017.