Jul 12, 2013, 3:45 PM EST
A Mercedes Formula One car driven by five-time world champion Juan Manuel Fangio has sold for over $29m at an auction in the UK today as part of a motorsport festival.
The Goodwood Festival of Speed regularly attracts huge crowds in the wake of the British Grand Prix as classic cars from Formula One and endurance racing are paraded and compete in the infamous hill-climb event. This year, as part of the annual auction, Fangio’s car was up for sale with the estimated price set at around $8m.
However, the car in which Fangio claimed the 1954 world championship eventually sold for three times that figure, with the lucky (and wealthy) buyer handing over £19.6m – around $29.6m.
It is the biggest amount paid for a classic racing car, dwarfing the $16m paid for a 1957 Ferrari 250 Testa Rossa two years ago.
The car was on show at Silverstone last month as Sir Stirling Moss (Fangio’s teammate) and current Mercedes driver Lewis Hamilton posed for pictures and compared their vehicles, leaving Hamilton in some shock when Moss explained that his car was not fitted with seatbelts.
- Rick Allen named lead NASCAR announcer for NBC Sports 3
- GP of America organizers issue statement on race postponement 10
- 2014 F1 schedule finalized without New Jersey, Mexico, and Korea 0
- Jeff Burton joins NBC Sports as NASCAR analyst 2
- IndyCar TV sked for 2014 released; 13 races to be shown on NBCSN 6
- GP of America organizers issue statement on race postponement (10)
- Eddie Gossage: “Foolish move” by F1 to go head-to-head with NASCAR at Texas (9)
- NASCAR Sprint Cup silly season update for 2014 (8)
- Stewart: There’s “a lot of potential” for Danica Patrick (7)
- FIA considering pole trophy and permanent numbers (6)