Arts & Collections covers fine art, auction records, as well as market trends that inform collectors of the world's finest items.
Unique in its broad international coverage of both arts and cultural events, Arts & Collections covers fine art from antiquity to modern times, auction records, a special sale preview by Sotheby’s, as well as market trends that inform collectors of the world's finest items.
Image via Sotheby's
Image via Sotheby's

Schumacher’s Ferrari Breaks World Auction Record

Michael Schumacher’s Ferrari, the Monaco Grand Prix-winning F2001 racecar, sold for a staggering $7.5 million at a recent Sotheby’s auction in New York.

The world record sale for a modern-era Formula One car was achieved after a tense six-minute battle between eight bidders.

A momentous occasion curated by RM Sotheby’s, Michael Schumacher’s Ferrari is the first vehicle that has been offered at a Sotheby’s art auction.

Initially estimated at $4 million, the racecar is best known for helping the famous German sportsman to his fourth Formula 1 World Championship title.

Other highlights of the sale, which covered contemporary art, included the Jerome & Ellen Stern Collection, Warhol’s Mao, Lichtenstein’s Female Head and Louise Bourgeois’ Spider IV.

Presenting an impressive 70 lots spanning 65 years, the evening saw a successful 96 percent sell-through rate—a 12 percent increase from the same time last year—as well as the largest group of works by female artists in a Sotheby’s contemporary art evening auction.

In addition to Michael Schumacher’s Ferrari, the art sale also broke other notable records, including one for Bourgeois’ wall-mounted spider and for a painting by American pop artist Robert Indiana.

Read more: Sting and Trudie Styler's Collection Up for Sale