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Fangio's rare F1 Mercedes 'could fetch over £10m' Fangio's rare F1 Mercedes sells for £17.5m
(about 14 hours later)
A rare racing car driven by Formula 1 legend Juan Manuel Fangio could fetch more than £10m when it goes under the hammer, according to auctioneers. A rare racing car driven by Formula 1 legend Juan Manuel Fangio has sold for £17.5m in what is believed to be a record for a car sold at auction.
The Mercedes-Benz W196, in which the five-times world champion clinched his second title, will be auctioned at Goodwood Festival of Speed later. The Mercedes-Benz W196, in which the five-time world champion clinched his second title, was auctioned at Goodwood Festival of Speed.
He drove the Mercedes to victory in the 1954 German and Swiss Grand Prix.He drove the Mercedes to victory in the 1954 German and Swiss Grand Prix.
Bonhams think it could break the $16.4m (£10.8m) record price set in 2011 by a 1957 Ferrari 250 Testa Rossa Prototype. The previous world record was set by a 1957 Ferrari 250 Testa Rossa Prototype which went for $16.4m (£10.8m) in 2011.
BBC chief Formula 1 writer Andrew Benson said the car was the motorsport equivalent of a great work of art.BBC chief Formula 1 writer Andrew Benson said the car was the motorsport equivalent of a great work of art.
He said it was not as beautiful as some of the other other vehicles at the time but had a "striking purposefulness about it". He said it was not as beautiful as some of the other vehicles at the time but had a "striking purposefulness about it".
The 2.5-litre vehicle - chassis number 00006/54 - was also driven by Fangio's teammate Karl Kling in the 1955 Italian Grand Prix in Monza but suffered gearbox failure.The 2.5-litre vehicle - chassis number 00006/54 - was also driven by Fangio's teammate Karl Kling in the 1955 Italian Grand Prix in Monza but suffered gearbox failure.
Bonhams said it was consigned to the Daimler-Benz Museum in Germany later that year and exhibited at Le Mans in France, the British Grand Prix at Silverstone and Hockenheim in Germany throughout the 1960s.
'Pinnacle of engineering''Pinnacle of engineering'
It was presented to the National Motor Museum in Beaulieu, Hampshire, in the 1970s before being sold to a private collector in the 1980s and then on to a German businessman. Bonhams said it was consigned to the Daimler-Benz Museum in Germany later that year and exhibited at Le Mans in France, the British Grand Prix at Silverstone and Hockenheim in Germany throughout the 1960s.
A spokeswoman for Bonhams said: "This is the only Mercedes-Benz W196 in private hands. It is the only surviving Mercedes-Benz W196 to have won not just one grand prix, but two. A spokeswoman for Bonhams said: "This is the only Mercedes-Benz W196 in private hands. It is the only surviving Mercedes-Benz W196 to have won not just one Grand Prix, but two.
"Its stature is immense, not only as the iconic Fangio car of the 1950s, but also as a shining star of pinnacle Mercedes-Benz engineering and as an icon of post-war recovery.""Its stature is immense, not only as the iconic Fangio car of the 1950s, but also as a shining star of pinnacle Mercedes-Benz engineering and as an icon of post-war recovery."
Motoring historian Doug Nye said: "In every area of the car, there is evidence of just the most fantastic workmanship. It was designed by very sophisticated, high-tech engineers.Motoring historian Doug Nye said: "In every area of the car, there is evidence of just the most fantastic workmanship. It was designed by very sophisticated, high-tech engineers.
"It's handcrafted and it's just like a piece of mechanical jewellery.""It's handcrafted and it's just like a piece of mechanical jewellery."
He added: "I always say it's sad that these things have to be sold but on the other hand, as an enthusiast, it's just a privilege to have such an iconic and historic piece.He added: "I always say it's sad that these things have to be sold but on the other hand, as an enthusiast, it's just a privilege to have such an iconic and historic piece.
"I have been one of the stewards looking after the car for several months, and it will be quite a wrench to see it go.""I have been one of the stewards looking after the car for several months, and it will be quite a wrench to see it go."
John Lennon Ferrari Bonhams chairman Robert Brooks said: "I have handled some of the world's most desirable and important motor cars during a motoring auction career spanning five decades, but I have reached a peak today with this legendary Grand Prix car."
Argentinian racing driver Juan Manuel Fangio is often described as the greatest racing driver of all time. Argentinian racing driver Juan Manuel Fangio won five world championships, the first being in 1951.
He won five world championships, the first being in 1951. The auction was held to mark the 20th anniversary of the Goodwood Festival of Speed in Chichester in West Sussex.
The auction is being held on Friday afternoon to mark the 20th anniversary of the Goodwood Festival of Speed in Chichester in West Sussex.
Other vehicles going under the hammer include a 1965 Ferrari 330GT 2+2 Coupe, which John Lennon bought on the day he passed his driving test, and a 1955 Maserati 300S Sports-Racing Spider.
The blue Italian four-seater, which cost Lennon £6,500 and was owned by him until 1967, is estimated to fetch between £180,000 and £220,000. The Maserati has a guide price of between £3.5m and £4.5m.