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Seven-time F1 world champion Michael Schumacher’s Ferrari F2001 racing car (chassis #211) two times Grands Prix winner sold for $7.5 million in New York on Thursday (Nov 16), setting an auction record for a modern-era Formula One car, Sotheby’s said.

The Ferrari F2001’s made victory at Monaco and Hungarian Grands Prix, also was pivotal in winning Schumacher’s fourth world drivers title (in 2001) as the car which clinched the 2001 Constructors’ and Drivers’ Championships.

Formula 1 Italian outfit – Ferrari was estimated to sell for between $4 million and $5.5 million., but the $7.5 million result (including buyer’s premium) more than doubled the previous auction record for a modern era F1 car of $3,198,500 fetched by an ex-Schumacher Ferrari F2004 sold at Sotheby’s Maranello sale in 2005.

The Formula One 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.

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