Michael Schumacher’s Ferrari sets F1 record for after eight-figure sale

A 2001 Ferrari that belonged to Michael Schumacher has set an F1 record.

The sale price for the auctioned Formula 1 car makes it the most expensive car driven by the legendary Schumacher to be sold.

RM Sotheby’s revealed the sale price on Saturday to be $18.17 million (£13m).

Schumacher drove the Ferrari to victories at the 2001 grands prix in Monaco and Hungary.

The F2001 was auctioned before qualifying at this weekend’s F1 Monaco Grand Prix.

Michael Schumacher F1 record set

The price tag eclipsed the $13.2m paid for Schumacher’s  2003 Ferrari F2003 three years ago.

It is also fourth on the list of the most expensive F1 cars sold at auction.

No1 remains a W196 R Stromlinienwagen which cost $54m earlier this year. Juan Manuel Fangio and Stirling Moss raced the car in 1955.

But in Monaco this weekend it is another classic Ferrari of Schumacher’s which has caught the eye.

In 2001, he claimed victory around the narrow streets of Monte Carlo for the fifth and final time driving the F2001.

His win in Hungary then clinched a fourth driver’s championship.

Michael Schumacher now lives privately, away from the public eye, with his family after his infamous skiing accident.

Schumacher and Lewis Hamilton are tied for the most driver’s titles ever, with seven.

Hamilton has followed in Schumacher’s footsteps by moving to Ferrari - having also done similarly with Mercedes.

It means Hamilton can eclipse Schumacher’s record in the same famous red overalls.