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Schumacher Ferrari F2003 — Most Expensive Modern Formula 1 Car Ever

9 November 2022 in $10 Million Plus, European, Other, Records, Top 10

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.

2003 Ferrari F2003 GA Formula 1 Single-Seater racing car
Stan Papior ©2022 Courtesy of RM Sotheby’s

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

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.
Stan Papior ©2022 Courtesy of RM Sotheby’s

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 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.
Stan Papior ©2022 Courtesy of RM Sotheby’s

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

1954 Mercedes Benz W196 Formula 1 Racing Car
1954 Mercedes Benz W196 Formula 1 Racer © Bonhams

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. 

2001 Ferrari F1 Sold at Sotheby's
© Courtesy of Sotheby’s

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.

Cars Sold for $10 Million Plus

The 1962 Ferrari 250 GT SWB California Spider was the most expensive of all cars sold at the 2023 Amelia Island auctions.

2023 (March): Ten Most Expensive Cars Sold at Public Auction

2023 (March): The most expensive cars sold at auction thus far in 2023 are a 1962 Ferrari 250 GT SWB California Spider and a 2022 Bugatti Chiron … [Read More...]

Most Expensive car ever sold at auction 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé

The Most Expensive Cars of All Time – $10 Million Plus at Public Auction

Only 61 cars have ever sold for more than $10 million at public auction with the world record for the most expensive car ever $143 million paid for a 1955 … [Read More...]

1939 Alfa Romeo 8C 2900B Lungo Spider by Touring

Cars Sold for $15 – $20 Million at Public Auction

Two 1939 Alfa Romeo 8C 2900s, eleven Ferraris, and two McLarens are the only cars ever to have sold for between $15 and $20 million at public … [Read More...]

2022 Bugatti Chiron Profilée on sale at RM Sotheby's Paris 2023

Cars Sold for $10 to $12 Million at Public Auction

Several marques including Mercedes Benz, Bugatti, Alfa Romero, Duesenberg, Ferrari, Ford, and Porsche had cars sold at public auction for between $10 and … [Read More...]

Most Expensive car ever sold at auction 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé

2022 (Full Year): Ten Most Expensive Cars Sold at Public Auction

The most expensive cars sold at public auction in 2022 were a 1955 Mercedes-Benz 300 SLR, a 1955 Ferrari 410 Sport Spider, and an ex-Michael Schumacher … [Read More...]

2003 Ferrari F2003 GA Formula 1 Single-Seater racing car

Schumacher Ferrari F2003 — Most Expensive Modern Formula 1 Car Ever

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 … [Read More...]

Side profile of the 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé

Cars Sold for Over $20 Million – The Most-Expensive Cars Ever

Only 15 cars have ever sold for more than $20 million at public auction: eight Ferraris, two Aston Martins, two Mercedes Benz cars, a Duesenberg SSJ, a Le … [Read More...]

1962 Shelby 260 Cobra “CSX2000”

Cars Sold for $12 to $15 Million at Public Auction

Aston Martin, Bugatti, McLaren, Porsche, Shelby, and Jaguar mix with Ferraris as marques that have sold classic or collectors cars for between $12 and $15 … [Read More...]

Facing left quarter 1955 Ferrari 410 Sport Spider on sale in the RM Sotheby's Monterey 2022 classic car auction

1955 Ferrari 410 Sport Spider — Best Ferrari Ever Sold

A 1955 Ferrari 410 Sport Spider by Scaglietti sold for $22,005,000 at the RM Sotheby's Monterey 2022 classic car auction. A 1955 Ferrari 410 Sport … [Read More...]

Most Expensive car ever sold at auction 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé

Most Expensive Car Ever: 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé

The most expensive car ever is a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé sold for $143 million by RM Sotheby's at a special auction at the Mercedes-Benz … [Read More...]

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Classic Car Auctions

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  • Record Prices
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      • Monterey (RM Sotheby’s, Mecum)
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