How much it will cost to buy 2002 Michael Schumacher F1 car at auction

Follow us on Google Discover

A rare Ferrari Formula 1 car from 2002 is set to go under the hammer with auctioneers expecting it to fetch millions.

The F2001B was driven by seven-time World Champion Michael Schumacher, who drove it to victory during the 2002 Australian Grand Prix and kickstarted the campaign that put him on course for his fifth title later in the season.

He would later finish in third place at the Malaysian Grand Prix a few weeks later, despite falling back to 21st place after an early pit stop after starting the race from pole position.

The chassis would later be dropped by Ferrari in favour of the up-to-date F2002 and now it is up for sale at the classic car auction house RM Sotheby’s. But how much would it set you back to buy?

Michael Schumacher 2002 Ferrari up for auction

The Ferrari used a 3.0 litre V10 engine and is one of the 30 chassis ever driven by Schumacher in his illustrious F1 career.

It also holds a 100% podium record having enabled Schumacher to both win the season opener and finish third at the following race.

Auctioneers expect the car to pick up between £6.1 million and £7.7 million, with it set to take place between the 15th and 17th August this year in Monterey, California.

The same car went up for auction last year and picked up £6 million, marking it one of the most expensive F1 cars to be sold at auction.

Why did Ferrari have two cars in 2002?

You might have spotted that it is the ‘F2001B’ being offered rather than the F2002. That is because Ferrari started off the first two races of the 2002 season with a modified version of their 2001 challenger.

Despite a thorough testing programme for their F2002, it threw up some problems for the Scuderia when it first took to the track.

READ MORE: Who is each current Formula 1 team’s greatest-ever driver

The main problem was the gearbox reliability, leading them to take the unusual decision to delay the introduction of the F2002. This meant reverting to their highly successful – and reliable – 2001 car which won nine out of 17 races that season.

By March that season the F2002 was ready to make its race debut, with Schumacher going on to take his first win in the car at the Brazilian Grand Prix.