Vintage Mercedes sells for record $30 million

The Formula 1 race car has a remarkable place in Grand Prix history.

By Kim Peterson Jul 12, 2013 3:22PM
Mercedes-Benz W196 in which Juan Manuel Fangio won the second of his five World Drivers’ Championships pictured in The Goodwood Festival of Speed Catalogue
Via Goodwood Festival of Speed Catalogue; http://tinyurl.com/mbkm8tw
MercedesAuction_071213_ULI_300In the history of race cars, this little Mercedes was really something. And it made history again Friday, this time as the most expensive car ever sold at an auction.

The 1954 Mercedes-Benz W196, a Formula 1 race car, won two Grand Prix titles under champion driver Juan Manuel Fangio.

The single-seat car sold for $29.6 million, blowing away the previous auction record of $16.4 million in 2011, Reuters reports. That auction was for a 1957 Ferrari 250 Testa Rossa.

The Mercedes was snapped up by an anonymous bidder, likely a car-racing fan who wanted a piece of history. The car was driven in five world championship-qualifying Grand Prix races for the Mercedes Formula 1 team, Reuters reports. It was a big part of the comeback for the German team after World War II.

Fangio drove the Mercedes to victory twice in 1954 at the German and Swiss Grands Prix. Those victories also helped the Mercedes brand return to the public eye. After the races, the media reported that "Mercedes are back," according to the Bonhams Goodwood Festival of Speed, which hosted the auction.

Although the Mercedes has set an auction record, it still isn't the most expensive car ever sold, reports MSN Autos' Clifford Atiyeh. That title belongs to the 1962 Ferrari 250 GTO, which was sold privately for $35 million last year.

More on moneyNOW



6Comments
Jul 12, 2013 5:14PM
avatar
Lights and fenders and look out street here I come! Ahh the stuff of dreams.
Jul 12, 2013 11:54PM
avatar

I'm guessing it goes to the Middle East or maybe Asia....?

 

I hope no one in this Country is that stupid..

And you can probably build a Replica(exact) for under a half mil. maybe $200,000.

Jul 12, 2013 7:07PM
Jul 12, 2013 6:27PM
avatar

$30 million in Obama dollars means it's actually lost value.

Jul 12, 2013 5:10PM
avatar
Some people simply have too damn much money to spend on toys.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

Trending NOW

What’s this?

MARKET UPDATE

[BRIEFING.COM] The stock market finished a down week on a cautious note with small caps leading the retreat. The Russell 2000 lost 0.5%, widening its weekly decline to 2.6%, while the S&P 500 shed 0.3%. The benchmark index ended the week lower by 2.7%.

This morning, the market was provided a basis to rebound with the July employment report, which was just right for the policy doves (209K versus Briefing.com consensus 220K). It showed payroll growth that was weaker than expected, ... More

MSN MONEY'S