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.
In addition to Michael Schumacher’s Ferrari, 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.