25-05-2025
Formula One legend: THIS 2001 world title Ferrari sold for a record $18.17 million at F1 auction — here's why
German racing legend Michael Schumacher's 2001 Monaco and Hungarian Grand Prix winner car has fetched a mind-boggling $18.17 million at a Formula One auction held by RM Sotheby's on May 24, Reuters reported.
Michael Schumacher's F2001 Ferrari, which won the racer's fifth and final Monaco Grand Prix and his Hungarian Grand Prix in 2001 — the latter clinched his fourth F1 world title, it added. It went under the hammer on May 24, ahead of the 2025 Monaco Grand Prix qualifier.
Notably, prior to the auction, estimates had pinned the value of the vehicle, nicknamed the 'Crown Jewel', at around €15 million ($16.9 million), as per a Bloomberg report. The F2001 is the most expensive F1 vehicle driven by Michael Schumacher to be sold at auction, as per the Reuters report.
This car's $18.17 million price tag has dethroned a previous record held by Michael Schumacher's vehicle itself — $13.2 million for the legendary racer's 2003 Ferrari F2003 in 2022.
It is also now the fourth-most expensive F1 car ever sold.
The world for the most expensive F1 car ever sold is for $52.52 million spent on a Mercedes W196 streamliner that was driven by Formula One legends Juan Manuel Fangio and Stirling Moss in the 1950s. This was also sold earlier in 2025.
According to the Bloomberg report, the RM Sotheby's auction had a host of F1 memorabilia on sale besides Michael Schumacher's F2001 Ferrari, and comes amid a 'wave' of similar high-profile auctions indicating demand for F1 momentos.
While such auctions are not new, the number of items on sale has skyrocketed, it added. In April, Ayrton Senna's McLaren-Honda Formula One helmet sold for almost $1 million
In 2023, Charles Leclerc's Bell HP77 sold for €306,000 ($3,29,944) — the revious record holder.
On May 4, Broad Arrow Auctions sold over 130 lots of F1 memorabilia to bidders from 26 countries — making €5,71,500 in total.
Speaking to Bloomberg, Ethan Gibson, a spokesperson for RM Sotheby's said, 'It was insane. Ten years ago the auction house might not have even offered such an object. F1 was just very niche back then. I don't think they would have had a lot of interest.'
'The increase of interest comes from those thinking they're making an investment that they can turn into a financial return. F1 signals a more elite tier of buyer or collector or investor,' Vincenzo Landino, who writes an F1 substack called Business of Speed told Bloomberg.
(With inputs from Agencies)
