Michael Schumacher Monaco Grand Prix-winning Ferrari F2001 Sells for Record $7,504,000 at Sotheby's Contemporary Art Evening Sale
November 17, 2017 by RM Sotheby's
• Monaco Grand Prix-winning Ferrari F2001 sells for $7,504,000 at Sotheby's Contemporary Art Evening Sale in New York
• F2001, chassis 211, becomes most valuable modern era F1 car sold at auction
• Sotheby's Contemporary Art Evening Sale totaled $310.2 million with 96% of lots sold
• RM Sotheby's returns to New York for its ICONS sale, 6 December during Sotheby's 'A Life of Luxury' Week
• Complete results from Contemporary Art Evening Sale will be available at www.sothebys.com
NEW YORK (16 November 2017) – This evening in Manhattan, Sotheby's sold the Michael Schumacher Monaco Grand Prix, Driver's Championship, and Constructor's Championship-winning Ferrari F2001 for $7,504,000 (est. $4m/5.5m), setting a new world record for a modern era Formula One car at auction.
In the ultimate culmination of the auction house partnership, the F2001 was curated by RM Sotheby's for the Contemporary Art Evening Sale, representing the car's first presentation for public sale as well as the first automobile ever offered in a Sotheby's art auction. The Ferrari was sold before an enthusiastic audience, with spirited bidding both in the room and from Sotheby's Contemporary Art and RM Sotheby's specialists representing clients from each collecting segment on the phones. The car eventually sold to a private collector on the telephone for a final $7,504,000, more than doubling the previous record for a modern era Formula One car at auction.
One of the most historically important contemporary race cars, the F2001, chassis no. 211, is the definitive representation of Formula One: the car that secured the 2001 Constructors' and Drivers' Championships for the oldest and most dominant team in the category—Scuderia Ferrari, piloted to victory by arguably the greatest-of-all-time driver—Michael Schumacher, at the most important and prestigious automobile race in the world—the Grand Prix de Monaco.
A portion of proceeds from the sale of the car will be donated by the former owner to Michael Schumacher's Keep Fighting Foundation. Keep Fighting seeks to channel the positive energy received by Michael Schumacher and the Schumacher family as a force for good in the world in achieving cultural and social benefits. Additional information on Keep Fighting's efforts and activities is available at keepfighting.ms.
Tonight's Contemporary Art Evening Sale brought a total of $310.2 million with 96 percent of lots sold. That represents a 12 percent year-on-year increase and is the fourth consecutive New York Contemporary Evening sale with a sell-through rate of over 90 percent. It was led by Francis Bacon's Three Studies of George Dyer, which achieved $38.6 million at its auction debut. Complete results from Sotheby's Contemporary Art Evening Sale will be available at www.sothebys.com.
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In just a few short weeks, RM Sotheby's returns to Manhattan for its third New York auction on 6 December. Entitled ICONS, the sale celebrates the cutting edge of automotive design and is part of a weeklong celebration of auctions and events, entitled 'A Life of Luxury', surrounding the newly established Sotheby's Luxury Division. Opening on 30 November, 'A Life of Luxury' is one of the most unique auction events of its kind, offering clients and enthusiasts an unparalleled experience at the heart of the auction world spread across jewels, watches, wine, fashion, and of course—cars. For further information on RM Sotheby's and upcoming events, please visit www.rmsothebys.com. 1. Results are listed in USD and include 12 percent buyer's premium for the Ferrari 2001. All other lots in the Contemporary sale include a buyer's premium of 25 percent of the hammer price up to and including $300,000, 20 percent of any hammer amount in excess of $300,000 up to and including $3,000,000, and 12.9 percent of any hammer amount in excess of $3,000,000. 2. The previous auction record for a modern era Formula One car was $3,198,500 for a Michael Schumacher-driven Ferrari F2004 sold at Sotheby's Maranello sale in 2005. FOR MORE NEWS FROM RM SOTHEBY'S Visit: www.rmsothebys.com Follow: www.twitter.com/rmsothebys Join: www.facebook.com/rmsothebys Watch: www.youtube.com/rmauctionsinc About RM Sotheby's RM Sotheby's is the world's largest auction house for investment-quality automobiles. With more than 35 years' experience in the collector car industry, RM's vertically integrated range of services, from private treaty sales and auctions to estate planning, and financial services, coupled with an expert team of car specialists and an international footprint, provide an unsurpassed level of service to the global collector car market. In February 2015, RM formed a strategic partnership with Sotheby's, uniting the two companies for the full calendar of future automobile auctions. For further information, visit www.rmsothebys.com.
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