Schumacher's F1 Car Sells for $1 Million

The Formula One race car driven by Michael Schumacher to the first of his record seven F1 championships was auctioned off last weekend in London for 617,500 ($1.01 million).

The 1994 Benetton-Cosworth Ford B194, described as "race ready," was acquired with a telephoned bid by an unidentified U.S. buyer. The car was sold during an inaugural classic-car auction staged by Bonhams 1793 Ltd., the privately owned British auction house.

The same auction saw an anonymous U.S. bidder pay 7.3 million ($11.9 million) to buy a restored Jaguar C-Type and crash-damaged D-Type racer campaigned in the 1950s by the Scottish racing team Ecurie Ecosse along with the team's 1960 Commer TS3 three-car transporter to carry them.

Bonhams describes the 1.8 million ($2.9 million) winning bid for the transporter as the highest ever paid at auction for a historic commercial vehicle. The truck has been popularized by a 1:48-scale model of it sold by Corgi Toys.