The ex-Michael Schumacher Ferrari F2003 Formula 1 race car sold for a record $14.9 million at RM Sotheby’s Geneva 2022 auction in Switzerland, as the most expensive modern F1 car ever.
The 2003 Ferrari F2003 GA F1 car in which Michael Schumacher won his sixth driver’s world championship, in addition to five overall Grand Prix victories, sold for an astonishing CHF14,630,000 (US$ 14,880,000) at the Sotheby’s Luxury Week sale 2022 in Geneva. The result was almost double the previous record price for a modern Formula 1 racing car and the third most expensive car of 2022.
Most Expensive Schumacher Ferrari Formula 1 Racing Car Ever
Sotheby’s in partnership with RM Sotheby’s has sold the iconic 2003 Ferrari F2003-GA F1 racing car, chassis no. 229 at Sotheby’s Luxury Week sale in Geneva, Switzerland, on 9 November 2022 for CHF 14,630,000 (US$ 14,880,000) making it by far the most valuable Formula One car of the modern era ever sold in a public auction. The previous record was held by another ex-Michael Schumacher Ferrari, an F2001 which sold for $7,504,000 in a similar fashion at Sotheby’s evening contemporary art sale in New York on 16 November 2017.
This Ferrari in which Schumacher clinched his sixth World Championship title, secured five victories, three pole positions, and two further podiums in what proved to be a dominant season for the German driver. Presented for sale in full running order, having been thoroughly overhauled in 2022 by Ferrari Formula 1 Clienti, the car is ready to be driven. The car was given a shakedown by Michael Schumacher’s son, Mick, at Ferrari’s Fiorano test track prior to the sale, providing an unforgettable moment for all Formula One fans.
Michael Schumacher’s 2003 Ferrari F2003-GA
The 2003 F2003-GA, featuring the GA initials to honor the recently passed Fiat boss, Gianni Agnelli, was a revised version of the previous season’s F2002. Designed by Rory Byrne and Ross Brawn, the F2003-GA featured new developments including a longer wheelbase to improve aerodynamics. Boasting one of the final V-10s featured in Formula One, the car produces 930-bhp and a rev limit of an astonishing 19,000 rpm.
During Schumacher’s title-winning 2003 Formula One season, he secured five victories in chassis #229: the Grand Prix in Spain, Austria, Canada, Italy, and the United States. Furthermore, the car secured three pole positions, three fastest laps, and a further two podium finishes in Monaco and France. This astonishing race record made chassis #229 instrumental in securing the sixth World Championship for Michael Schumacher, which at that time surpassed Fangio’s 46-year record, as well as gifting Ferrari its fifth consecutive constructor’s title.
Record Formula 1 Car Prices at Public Auction
The most expensive Formula 1 single-seater racing car ever sold at public auction was a 1954 Mercedes Benz W196R that achieved $29,650,000 at the Bonhams Goodwood Festival of Speed 2013 sale.
The five most expensive (nominal) modern Formula 1 cars were all race winners sold by RM Sotheby’s:
- The 2003 Ferrari F2003-GA F1 racing car in which Michael Schumacher secured his sixth championship (and won five Grand Prix races) sold for an astonishing CHF 14,630,000 (US$ 14,880,000) at Sotheby’s Geneva Luxury Week sale in 2022.
- The previous record car was Michael Schumacher’s Grand Prix-winning Ferrari F2001 sold in Sotheby’s Contemporary Art Evening Auction in November 2017 for $7,504,000.
- The third most expensive modern Formula 1 car is the Lewis Hamilton-driven 2010 McLaren MP4-25A at £4,836,000 / $6,741,384 in 2021 — the only Hamilton car ever sold in a public auction.
- The fourth most expensive Formula 1 racer is the Michael Schumacher’s 2002 Ferrari F2002 F1 Car, chassis #219, sold for $6,643,750 in Abu Dhabi 2019.
- The fifth most expensive Formula 1 car is also a Michael Schumacher race winner — the 1998 Ferrari F300 driven to four victories in a non-championship-winning year sold for $6,220,000 at RM Sotheby’s Monterey 2022.