Michael Schumacher’s old Ferrari Formula One car has become the most valuable of the “modern era”.

The Ferrari F2003 was sold for an immense $AUD22.2 million, breaking the previous record, which was also held by an old Schumacher model, The Sun reports.

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That car was the F2001, which was sold in 2017 for $11.2m, almost half the price of the new record holder.

The F2003 was the car in which Schumacher won his sixth Formula One world title.

And five of Schumacher’s six victories that season came in the exact model sold in Geneva, along with two more podium finishes.

Top Gear magazine revealed that the car was presented “in full running order” after being rejuvenated by Ferrari.

It is believed that Mick Schumacher, Michael’s son, had a look at the car to check it over at Ferrari’s private testing ground at Fiorano.

Since the vehicle has stopped racing it has only covered 148 miles, mostly driven by Mick.

The car’s final price surged past the $15m that it was expected to be sold for.

RM Sotheby’s, a classic car auction house, said that the record breaking car: “provided an unforgettable moment for all Formula One fans.”

Whoever has bought the car has got themselves a bit of Formula 1 history and one of the finest bits of F1 memorabilia ever offered up.

Mick is currently racing for the American team Haas, but could be replaced by Nico Hulkenburg next season.

Team Williams have been rumoured to be interested in giving him a lifeline by offering him a seat.

This article originally appeared on The Sun and was reproduced with permission.

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