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Classic Velocity Blog

The price of History

Classic Velocity

The 1954 Mercedes W196 driven to the Formula 1 championship by Juan Manuel Fangio sold at auction for a record $29.6 Million (see Hemmings Story). This obliterated the former record for a car at auction by more than $13 Million. The auction premium alone (assuming 10%) is about the same as the median home price in the USA ! The good news is that this bodes well for unrestored drivers ;-)

Once you get past the money though, I can only hope that this car will continue to be seen and even used (gasp!). Whoever is insuring this machine will probably be pressuring the owner not to do either.....