Michael Schumacher's 2001 F1 title-winning Ferrari sells for record $18M
What's the story
A Formula One auction held by RM Sotheby's on May 24 saw the sale of German racing legend Michael Schumacher's Ferrari F2001.
The car, which won the Monaco and Hungarian Grand Prix in 2001, was sold for a jaw-dropping $18.17 million.
But this isn't just any car; it was the one that helped Schumacher clinch his fourth F1 world title that year.
Auction details
The car's journey to record-breaking auction
The F2001, popularly known as the "Crown Jewel," was expected to sell for approximately $16.9 million ahead of the auction. The estimate was based on a Bloomberg report.
However, the final sale price blew past those predictions, setting a new record for an F1 car driven by Schumacher himself.
The previous record was $13.2 million for Schumacher's 2003 Ferrari F2003 in 2022.
Price record
F2001 now 4th most expensive F1 car sold
The F2001 now becomes the fourth most expensive F1 car ever sold at an auction.
The top spot in this category is occupied by a Mercedes W196 streamliner, which was driven by Formula One legends Juan Manuel Fangio and Stirling Moss in the 1950s.
That vehicle was sold earlier in 2023 for a staggering $52.52 million.
Auction trend
Rising interest in F1 memorabilia
The RM Sotheby's auction also included a range of F1 memorabilia, highlighting the growing interest in such items.
This isn't new, but has grown exponentially in recent times. In April, Ayrton Senna's McLaren-Honda Formula One helmet was sold for nearly $1 million.
Earlier this year, Charles Leclerc's Bell HP77 sold for $329,944, marking a significant sale in the helmet category.