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F1 Abu Dhabi Grand Prix Auction Banks $31M

Jamila Gandhi
F1 Abu Dhabi Grand Prix Auction Banks $31MImage source: RM Sotheby's

RM Sotheby’s made its debut with its first auction to ever take place at an F1 Grand Prix, at the season finale Formula 1 Etihad Airways Abu Dhabi Grand Prix 2019, generating total sales of $31.3 million in two hours.

Held at the Formula 1 starting grid at Yas Marina Circuit, the auction was set up in less than 90 minutes following the F1 qualifying laps on Saturday. The auction house presented a lineup consisting of 40 blue-chip collector cars, for bidders representing 28 countries. The successful auction also marked RM Sotheby’s first foray into the Middle East market. Here are the three top sales from the auction.

2017 Pagani Zonda Aether
Sold for: $6,812,500

The appearance of a Zonda on the open market is an extremely rare occurrence, this being the first example to be offered at a collector car auction in nearly seven years. Widely regarded as one of the finest and last manual-transmission, naturally aspirated supercars ever built, the Aetheris is engraved in various places to further reinforce its uniqueness. Since delivery to its first and only owner at the beginning of 2018, the Aether was used on the European 2018 Pagani Raduno, Vanishing Point, before being put into dry storage with less than 1,400 km on the odometer. The previous auction record for a Pagani Zonda was $5,885,000.

2002 Ferrari F2002
Sold for: $6,643,750

Michael Schumacher’s iconic championship-winning Ferrari was the crowd puller at the auction. Victorious in three Grand Prix in the 2002 season, the car also secured Schumacher his fifth Drivers’ World Championship title. The signature racer is one of the most successful Formula One designs of all time, taking 15 wins, 11 pole positions, and 15 fastest laps from 19 races. The signature piece was bagged for a whopping $6,643,750, making it the second most valuable Formula 1 car ever sold at auction, second only to the Schumacher Ferrari F2001. In 2017, RM Sotheby’s sold the F2001 for $7,500,000.

 

2015 Ferrari FXX K
Sold for: $4,281,250

Maranello’s most potent track-only, limited production model and the first Ferrari of its kind ever offered at auction was sold for $4,281,250. Formally introduced to the public at the Bologna Motor Show in 2005, only 38 samples were built over the course of production. The FXX K was first unveiled at Ferrari’s Finali Mondiali held at Yas Marina Circuit, Abu Dhabi in 2014.  With less than 250 km on the odometer, this FXX K is presented today in virtually as-new condition throughout.

All images courtesy of RM Sotheby's.

Jamila is a wealth reporter at Forbes Middle East Magazine, where her work includes billionaires’ philanthropy, influence and leadership insights.

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