A Mercedes racing car driven to victory in two 1954 Grands Prix by Formula 1 legend Juan Manuel Fangio has sold at auction for a world record £19.6million.
The Argentinian drove the Mercedes-Benz W196 to success in both the German and Swiss grands prix during the 1954 season, on his way to the second of his five world titles.
The auction, held at the Goodwood Festival of Speed, attracted collectors from three continents vying to be the highest bidder for a car described as one of the most significant racers of the 20th Century.
Incredibly the unrestored Formula 1 car, to which experts said there were no parallels’ in the market, was stored for decades in a warehouse before Saturday’s auction. It was expected to fetch around £10million.
The untouched condition of the model served only to add to its value, with the hammer going down at £17.5million which resulted in a final sale total of £19.6million. It nearly doubled the previous record, set by a 1957 Ferrari Testa Rossa prototype which was sold for £10.8million in 2011.
The five-time world championship winner Fangio, who died aged 84 in 1995, once stated: “When I was in a racing car, I always liked to see exactly where the wheels were pointing.
“I asked for a version with no bodywork covering the wheels for the Nurburgring race, and in no time Mercedes had built one - and I drove it to win the German Grand Prix.”
The auction house said the Mercedes is one of the most significant cars of the 20th century and the most important historic Grand Prix racing car offered at public auction.
The chairman of Bonhams, 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.
“It was a personal privilege to preside over the sale of this vehicle, which is not only one of the most significant motor cars of the 20th century, but also the most important historic Grand Prix racing car ever offered for sale.”
Of the great driver, motoring historian Doug Nye had this to say: “He was a humble man, originally a mechanic from a potato town in Argentina, and he never forgot his roots.
“As a driver, he was simply a genius. As a man he had no enemies. He was universally loved, even by those he regularly beat on track. No standard-setting sportsman could have a better epitaph.
“Mercedes has long been recognised for the world-class quality of its products and in 1954/55 they set out to rebuild their reputation for automotive excellence post-war.
“In every area of the car, there is evidence of just the most fantastic workmanship. It was designed by very sophisticated, hi-tech engineers.
“But more than that it was made by ordinary working men who did a brilliant job.
“It's hand crafted and it's just like a piece of mechanical jewellery.”
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