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Schumacher's Ferrari shatters estimate at Sotheby's!

©RMSothebys

Michael Schumacher's race-winning Ferrari F2001 shattered its sale estimate at Sotheby's Thursday and set a new auction record for a modern-era F1 car.

The 2001 machine put bidders in a frenzy and quickly blew past its $4 to $5 million estimate, ultimately going under the hammer for $7.5 million!

Sotheby's auctioned the winning machine in its flagship post-war and contemporary November evening art sale, meaning it was the first time a Ferrari - or an F1 car - was sold as a valuable work of modern art.

The F2001 won both the Monaco and Hungarian Grands Prix with Schumacher behind the wheel in 2001, a year in which the seven-time world champion secured his fourth crown and Ferrari's 11th Constructors' title.

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