June 17, 2024

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Sale of Schumacher Ferrari F1 Car Sets New Record

Image: Stan Papior, courtesy of RM Sotheby's

Michael Schumacher drives through the rain on his way to victory at the 2003 Canadian Grand Prix.
Image: courtesy of Rainer Schlegelmilch / Motorsport Images

Sotheby’s, together with RM Sotheby’s, has set a new world record price for the most expensive Formula One car of the modern era ever sold at a staggering CHF 14,630,000 ($14,865,441). The 2003 Ferrari F2003-GA sold in Geneva at Sotheby’s Luxury week sale on November 9.

Michael Schumacher drove this F2003-GA — chassis 229 — during his World Championship winning 2003 Formula One season, clinching victories at the Spanish, Austrian, Canadian, Italian and United States Grands Prix. Two additional podium fishes were achieved at the Monaco and French Grand Prix, and Schumacher started from pole position in chassis 229 three times.

In total, Schumacher raced chassis 229 on nine occasions. It is one of four Schumacher-era Ferrari Formula One chassis driven to five or more victories in a World Championship winning season. Furthermore, this was the chassis that helped propel the F1 legend to his sixth World Championship in 2003, which broke the long-standing record of five championships won by Juan Manuel Fangio.

The F2003-GA was presented in track ready condition in Geneva having received a recent overhaul in 2022 at the Maranello factory and was awarded Ferrari Classiche’s Red Book Certification. The 845-hp 3.0-L V10 engine — capable of spinning at dizzying 19,000 rpm — has only run 148 miles since the refresh. Prior to the sale, chassis 229 was given a shakedown by Schumacher’s son, Mick Schumacher, at Ferrari’s Fiorano test track, adding another highlight to the history of this storied Ferrari.

Mick Schumacher and Ferrari F2003-GA chassis 229.
Image: Stan Papior, courtesy of RM Sotheby’s

“It was an honour to offer this car in partnership with our partners at Sotheby’s. Formula One cars of this quality and provenance rarely come to market, and this particular car is the best of the best. We are delighted that it has achieved a world record price for such a car, as it truly reflects the importance of this chassis. The result continues to reinforce our reputation as the auction house most recognized for selling the finest Formula One cars in existence,” said Augustin Sabatié-Garat, Director of Sales EMEA.

Read more about the Schumacher Ferrari and the record-setting sale here