Michael Schumacher's Ferrari F2001 sells for $7.5 million

November 17, 2017

Michael Schumacher's championship-winning Ferrari F2001 is sold before a packed Manhattan auction room at Sotheby’s Contemporary Art Evening Sale, 16 November in New York

Sotheby's

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Michael Schumacher's championship-winning Ferrari F2001 on display in Sotheby's Manhattan auction rooms prior to the sale – the car was sourced via RM-Sothebys, the world's most prominent and successful auction house for elite collectible cars, yet it was clearly a conscious decision to sell it at one of the world's most important contemporary art auctions instead

Sotheby's

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Victory celebrations for Ferrari at the 2001 Hungarian Grand Prix could not have been more complete after Ferrari finished 1-2 with Rubens Barrichello in second place and team manager Jean Todt joined them on the podium – Todt now runs Formula One and 16 years later, Michael Schumacher is still breaking records

Sotheby's / LAT Images

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Michael Schumacher exits the Nouvelle Chicane on his way to winning the 2001 Monaco Grand Prix in this car

Sotheby's / LAT Images

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The moment when Michael Schumacher won the 2001 Formula One title in THIS car – his win in the XVII Marlboro Magyar Nagydíj (17th Marlboro Hungarian Grand Prix) at the Hungaroring on August 19, 2001 gave him an unassailable lead in the championship with four races still to run

Ferrari

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Michael Schumacher's championship-winning Ferrari F2001 is sold before a packed Manhattan auction room at Sotheby’s Contemporary Art Evening Sale, 16 November in New York

Sotheby's

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Michael Schumacher's championship-winning Ferrari F2001 is sold before a packed Manhattan auction room at Sotheby’s Contemporary Art Evening Sale, 16 November in New York

Sotheby's

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As we reported in September, the offering of Michael Schumacher's 2001 Ferrari F1 at Sotheby's Contemporary Art Evening Auction on November 16 was potentially a landmark in automotive auction history. While the jury is still out on whether other cars will follow this previously untried and unconventional sales venue, the US$7,504,000 fetched by the Ferrari in Manhattan a few hours ago suggests more automotive auction market upheaval is to follow.

The Ferrari F2001 racing car (chassis #211) won two Grands Prix, including the Grand Prix de Monaco, and was pivotal in winning Schumacher's fourth world drivers title (in 2001) as the car which clinched the 2001 Constructors' and Drivers' Championships.

The Ferrari was estimated to sell for between $4 million and $5.5 million., but the $7.5 million result (including buyer's premium) more than doubled the previous auction record for a modern era Formula One car of $3,198,500 fetched by an ex-Schumacher Ferrari F2004 sold at Sotheby's Maranello sale in 2005.

Source: Sotheby's

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