Schumacher Ferrari sets record at Sotheby's

MOTORING NEWS - Michael Schumacher's Grand Prix-Winning Ferrari sold for over R105-million in New York recently, setting an auction record for a modern-era Formula One car, Sotheby's said.

The seven-time world champion's 2001 Ferrari F2001 sparked furious bidding, roaring past its pre-sale estimate of R63-million at Sotheby's November evening art sale.

Sotheby's said it was the first time that a rare automobile was included in an art auction and the decision "appeared popular".

The sleek, low-slung, fire-engine red vehicle may not have been a work of art, but Gregoire Billault, Sotheby's senior vice-president, called it "the very best racing car ever sold at an auction."

The German racing legend has not been seen in public since suffering serious head injuries in a skiing accident in 2013.

His record of seven titles and 91 career victories remains unchallenged.

Michael Schumacher celebrates winning the European Formula One Grand Prix in 1995 in Germany.