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Formula 1 enthusiasts will soon have the opportunity to own a piece of racing history – for the low cost of $15 million.
A Ferrari (RACE+0.98%) driven by seven-time F1 champion Michael Schumacher, during his final season, will soon go up for sale at RM Sotheby’s in New York. While the auction house has not released a public value estimate, experts anticipate the vehicle will pull in millions, according to a report from Planet F1.
“This car carries immense historical and sentimental value, making it one of the most significant pieces of Formula 1 history to ever come to auction,” a spokesperson for RM Sotheby’s told the outlet.
Several of Schumacher’s other prize-winning cars – from 2001, 2002 and 2003 – have fetched more than $6.5 million at auction. If the November 14 sealed auction actually does meet those expectations, the Ferrari would join the ranks of the most expensive F1 vehicles ever sold.
The 2006 Ferrari 248 F1 is one of an exceptionally small number of vehicles that Schumacher drove to victory on multiple occasions – and the remainder are “now locked up in very secure collections where they are likely to remain for the foreseeable future,” according to RM Sotheby’s.
The cherry-red vehicle is “unquestionably one of the most successful Michael Schumacher-raced Ferraris of all-time,” according to the RM Sotheby’s listing. From April through August 2006, Schumacher drove the vehicle to five victories – in the San Marino, European, United States, French, and German Grands Prix. He also took three pole positions, three second-placed finishes, and four fastest laps while driving the Ferrari. Schumacher, however, failed to take home his eighth championship while driving this chassis.
The vehicle’s current owner purchased the car directly from Scuderia Ferrari in 2007 and has held onto it ever since. RM Sotheby’s described the vehicle’s current owner as “one of the most sophisticated enthusiasts” with “one of the world’s greatest collections.”