Michael Schumacher's Ferrari sells at auction for $7.5 million

Michael Schumacher's Ferrari sells at auction for $7.5 million

The vehicle sold for $7,504,000, more than twice the price that a Schumacher F2004 sold for in 2005. Both Ferrari and Michael Schumacher are names synonymous with Formula One, as is the Monaco Grand Prix, the most prestigious event on the F1 calendar.

The sale soared past its pre-sale estimate of US$4 to 5 million at Sotheby's flagship post-war and contemporary November evening art sale. Don't forget, this is the very vehicle (chassis 211) that secured Ferrari and MSC the 2001 Constructor's and Driver's Championships and won the Monaco GP.

Introduced at the beginning of the 2001 season, the Ferrari F2001 replaced the F1-2000 that had brought back the drivers' title to Maranello the previous season for the first time since 1979. The Italian marque also took its 11th constructors championship with the F2001.

The previous auction record for a modern era Formula One vehicle was $3,198,500 for a Michael Schumacher-driven Ferrari F2004 sold at RM Auctions' Maranello sale in 2005. Barrichello, meanwhile, also continued to race in the 2001 Ferrari in the early stages of the 2002 season, but suffered three consecutive retirements and subsequently switched to the F2002, with which he would win four races and claim six podium finishes.

More news: EPCA withdraws parking fee hike in Delhi

Its $7m price tag is well over the $4m that it was expected to fetch.

The German motor-racing legend ended up winning the 2001 F1 Championship, with chassis 211 playing a pivotal role in his victory.

It fetched a little over $7.5million - small change compared to the da Vinci, but nonetheless a record for an F1 vehicle sold at auction and some way above the initial $4.5 - $5million estimate.

Michael Schumacher in action with the Ferrari F2001.

Related Articles