Most-Expensive Car Ever Sold at Auction: The 1954 Mercedes-Benz W196R Formula 1 Racer

The 1954 Mercedes-Benz W196R Formula 1 racing car driven my Fangio sold for $30 million by Bonhams Auctions at Goodwood Sale.

Side profile of the 1954 Mercedes-Benz W1969R Racer
1954 Mercedes-Benz W1969R Formula 1 – The Most Expensive Car Ever © Bonhams

The 1954 Mercedes-Benz W196R Formula 1 single-seater racing car driven by legendary five-times world champion Juan Manuel Fangio became the most-expensive car ever sold at auction. The Mercedes-Benz racing car fetched a record breaking £19.6 million ($29.65 million) at the Bonhams Auction held during the Goodwood Festival of Speed sale. The price was almost double the previous record achieved by a Ferrari in 2011. The auction further set a record for the highest grossing motorcar auction ever in Europe as well as the highest price ever paid for a Maserati car.

1954 Mercedes-Benz W196R Formula 1 – Most-Valuable Car in the World

It was generally expected that the sale of the 1954 Mercedes-Benz W196R Formula 1 single-seater racing car would break the world record for the highest price ever paid for a car at auction. However, at the Bonhams Goodwood Festival of Speed Sale on July 12, 2013, the Mercedes positively shattered the old record.

The hammer came down at £17.5 million but once the regular auction costs and fees were added the 1954 Mercedes-Benz W196R Formula 1 achieved £19,601,500 (US$29,650,095 or €22,701,864) to become the most valuable car ever.

The price achieved for the Mercedes-Benz W196R Formula 1 racing car was almost double the price of the previous record holder: a 1957 Ferrari 250 Testa Rossa sold in 2011 for $16,390,000 by Gooding & Co at Pebble Beach. The previous record for a Mercedes-Benz car was only set a year ago: a 1936 Mercedes-Benz 540K Special Racer sold by Gooding & Co’s auction in Pebble Beach for $11,770,000.

Black and white photo of Juan Manual Fangio driving the Mercedes W1969R
Fangio © Bonhams

Juan Manuel Fangio drove the Mercedes-Benz W196R to his second Formula 1 world championship in 1954. The car not only won the championship, it also announced to the world that Mercedes-Benz has recovered its reputation for automotive excellence.

The Mercedes-Benz W196R Formula 1 racing car was given to National Motor Museum at Beaulieu by Mercedes-Benz in 1973. In 1987, Beaulieu sold the car – with Mercedes-Benz’s approval – to fund the museums library and other buildings. The car has been in private hands since. It will take a very exceptional car to ever break this record.

The Most-Expensive Maserati Ever – 1955 300S Sports-Racing Spider

1955 Maserati 300S Sports-Racing Spider
1955 Maserati 300 S © Bonhams

In the excitement of the highest price ever paid for a Maserati car at auction, another record achieved by Bonhams at Goodwood is easily overlooked. A 1955 300S Sports-Racing Spider sold for £4,033,500, almost double the previous record of £2,251,520 achieved for the marque a year ago.

Bonhams now holds the world records for the following marques at auction: Aston Martin (£3,200,000), Austin-Healey (£843,000), Bentley (£5,000,000), Maserati (£4,033,500), Mercedes-Benz (£19,601,500) and Rolls-Royce (£4,700,000).  Alfa Romero was added in September 2013 at £5,937,500.) The 1929 Bentley „Birkin Blower“ sold by Bonhams last year for $7,867,000 is also the most expensive British car ever sold at auction.

The 2013 Bonhams Goodwood Festival of Speed Sale grossed £36,072,464 – the highest ever for a single motorcars auction in Europe.

See also other classic cars auction result.

About the author:

Henk Bekker

Henk Bekker is a freelance writer with over 20 years of experience in online writing. His best-selling cars website has been reporting car sales statistics since 2008 with classic car auction prices focusing on the most expensive automobiles sold at public auctions in the past decade. He also owns the travel websites European-Traveler.com and Lake Geneva Switzerland. Henk holds an MBA from Edinburgh Business School and an MSc in Finance from the University of London.