The 1998 Ferrari F300 driven by Michael Schumacher to four Grand Prix victories is on sale at the RM Sotheby’s Monterey 2022 classic car auction.
The 1998 Ferrari F300, the most successful Ferrari Formula 1 car utilized during the 1998 Formula One World Championship season, piloted to four victories at the hands of Michael Schumacher, is on sale at the RM Sotheby’s Monterey 2022 classic car auction. Despite the Ferrari being from a non-championship-winning year, the whopping estimate of $6,00,000 – $8,000,000 places it among the most expensive Formula 1 racing cars ever offered for sale in a public auction.
RM Sotheby’s Monterey 2022 Classic Car Auction
RM Sotheby’s flagship Monterey classic car auction during the annual Monterey / Pebble Beach motoring week: 18, 19 & 20 August 2022 at the Monterey Conference Center in California, USA.
The Monterey sale is traditionally the most important car auction of the year:
- In 2021, RM Sotheby’s earned $148.5 million at Monterey selling 43 cars for over a million dollar and an impressive 90% sell-through rate.
- RM Sotheby’s earned $30,412,810 from the Shift / Monterey 2020 online-only sale.
- In 2019, RM Sotheby’s earned $107 million, in 2018 $158 million (including $48,405,000 for the most expensive car ever sold at auction, a 1962 Ferrari 250 GTO, and in 2017 $133 million.
- RM Sotheby’s three-day Monterey 2016 auction remains the highest-grossing classic car auction ever with $173 million earned and 35 million-dollar cars sold.
Schumacher 1998 Ferrari F300 at RM Sotheby’s Monterey 2022
The 1998 Ferrari F300, chassis 187, estimate: $6,000,000 – $8,000,000, was driven by Michael Schumacher to victory in all four Formula 1 Grand Prix races that the chassis was entered. Undefeated, this is the most successful Ferrari chassis ever for a car entered in three or more races.
The Ferrari F300 employed a new 3.0-liter V-10 engine and featured a maximum engine speed of 17,500 rpm, producing 800 horsepower. The F300 would see continued development and fine-tuning during the 1998 season. However, there can be absolutely no doubt among racing historians that the design’s efficient aerodynamics and well-balanced V-10 powerplant were the true foundation of the Scuderia’s incoming millennial domination of the Formula One world.
The Ferrari F300, specifically chassis 187, took its first of four stunning race victories at the Canadian Grand Prix at Montreal’s Circuit de Gilles Villeneuve. Schumacher and chassis 187 claimed victory along with the fastest lap with a massive 16-second lead off the runner-up. Schumacher and chassis 187 continued their successful relationship at the next two races, scoring victories in France and Britain. With these three consecutive victories, Scuderia Ferrari vaulted back up in the standings and into serious contention against McLaren-Mercedes for both the Drivers’ and Constructors’ titles. A few weeks after the winning streak, Schumacher scored his 33rd career win behind the wheel of chassis 187 when he crossed the finish line at the Italian Grand Prix — the only of the four races he started from pole position.
Eminently rare and forever tied to one of racing’s all-time greatest legends, the extraordinary Michael Schumacher, 187 is without a doubt one of the most significant Ferrari F1 cars in existence, being the only undefeated chassis to run at least three races. The Scuderia retained chassis 187 until September 1999, when it was then sold directly and privately to the previous owner in the same race-used condition in which it remains today, and in their 23 years of ownership, chassis 187 has been remarkably preserved as it has never been restored or altered from its as-raced condition. It remained shielded from the public during this time and will be publicly offered for sale in Monterey for the first time in its history.
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 three most expensive modern Formula 1 cars were all race winners sold by RM Sotheby’s:
- The record car is Michael Schumacher’s Grand Prix-winning Ferrari F2001 sold in Sotheby’s Contemporary Art Evening Auction in November 2017 for $7,504,000.
- The second most expensive modern Formula 1 car is the Lewis Hamilton-driven 2010 McLaren MP4-25A at £4,836,000 / $6,741,384. The only Hamilton car ever sold in a public auction.
- The third 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.
Monterey Week 2022 Classic Car Auctions
Monterey Week 2022 Auction Previews:
Monterey Week 2022 Pre-Auction Announcements
- Bonhams: 1938 Bugatti Type 57C Atalante
- Bonhams: 1963 Jaguar E-Type Lightweight Competition (ex-Brigg Cunningham)
- Gooding: Top Bugattis (incl: Type 57SC Atalante & Type 35 Grand Prix)
- Gooding: Top Ferraris — classics and modern supercars
- Gooding: Top British Cars (incl: Bentley Blower and Eight Litre Sports Tourer)
- Gooding: Wonder Collection including 1999 Ferrari 333 SP
- Gooding: 1930s Classics from the Vincent Estate
- Mecum: Ferrari Prototypes and Marmon Classics
- RM Sotheby’s: 1955 Ferrari 410 Sport Spider by Scaglietti
- RM Sotheby’s: Schumacher 1998 Ferrari F300
- RM Sotheby’s: Masterworks of Design Collection (1924 Hispano-Suiza H6C “Tulipwood” Torpedo, 1937 Mercedes-Benz 540 K Special Roadster)
- RM Sotheby’s: 1955 Mercedes-Benz 300 SL Alloy Gullwing
- RM Sotheby’s: 1966 Ferrari 275 GTB/C
- RM Sotheby’s: The Oscar Davis Collection of 27 vehicles valued at $100 million
Previous Monterey Week Auction Results