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Michael Schumacher’s 2003 title-winning Ferrari has sold for an astonishing £11.6million at auction, smashing the previous record for a modern Formula 1 car.

The F2003-GA, which recorded seven victories out of 16, went under auction at , and sold for well over its estimate of £7m - £8.5m.

The F2003 GA underwent an incredibly long bidding process
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The F2003 GA underwent an incredibly long bidding processCredit: AFP
But it's an icon from Schumacher's sixth title
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But it's an icon from Schumacher's sixth titleCredit: Getty

That puts it miles ahead of the previous record held by Schumacher’s 2001 Ferrari, which went for £6.7m in New York in 2017.

Both cars are still behind the all-time record though, which is held by Juan Manuel Fangio’s 1954 Mercedes W196R, which sold for £25.5m at Goodwood in 2013.

Fangio won his second of five titles in that Mercedes, a record which stood until Schumacher claimed his sixth of seven titles with the now sold 2003 Ferrari.

The bidding nearly ended at the 11m Swiss franc mark as the auctioneer went to throw down his hammer, but more bids came in, seeing it end at 13m CHf, the equivalent of £11.6m.

Perhaps even more surprisingly, though, the winner, who bid via phone, won't be able to take the car home.

Ferrari’s ‘’ sees the company keep the vehicle, but bring it to you for track day usage.

Schumacher won seven of 16 races in the car in 2003
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Schumacher won seven of 16 races in the car in 2003Credit: Getty
But Fangio's 1954 car still holds the all-time record
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But Fangio's 1954 car still holds the all-time recordCredit: Getty

The car will be delivered to any of nine circuits across Europe and the US on predetermined dates, coming with servicing, coaching by former F1 drivers as well as technical assistance and telemetry and track analysis.

Owners can also request a physiotherapist and masseuse during their sessions as part of the package, and are allowed to drive at the Fiorano test track on any date upon request.

Schumacher’s record of seven world championships remains unbeaten to this day, with Lewis Hamilton so far only able to match that number with McLaren and Mercedes.

In fact, Hamilton’s is also on the list of biggest ever sales, slotting in behind Schumacher and Fangio when it went for £4.7m in 2021.

Hamilton's 2010 McLaren is in the list of most expensive modern cars
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Hamilton's 2010 McLaren is in the list of most expensive modern carsCredit: Getty
But the 2003 Ferrari took the record from the 2001 model
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But the 2003 Ferrari took the record from the 2001 modelCredit: Getty

Schumacher won five of his seven titles at Ferrari from 2000 to 2004, after taking his first pair with Benetton in 1994 and 1995.

After stepping away from the sport in 2006, he returned in 2010 for Mercedes’ first season back in F1, helping put the team on a path to unparalleled success with Hamilton and Toto Wolff at the helm.

Tragically though, Schumacher was involved in a skiing accident in 2013, and placed in a medically induced coma.

The family have kept his privacy completely sealed since then, despite numerous reports claiming to know his status, while his son Mick currently competes in F1 with Haas.

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