F1 legend Michael Schumacher’s Ferrari fetches record $13 million at auction

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Michael Schumacher’s Formula One Ferrari F2003 GA with chassis number 229 during Sotheby’s auction house preview in Geneva. AFP

Gulf Today Report

The Ferrari with which Formula 1 legend Michael Schumacher won the 2003 World Championship was auctioned in Geneva on Wednesday for more than $13 million.

“This extraordinary car has reached a world record price for a modern Formula 1,” Sotheby’s, the auctioneer said that after the F2003GA, the 229 chassis sold for 13 million Swiss francs ($13.2 million) to a telephone bidder.

The price far outstripped expectations with the car estimated pre-sale to fetch between 7.5 and 9.5 million Swiss francs.

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