International

New York - Michael Schumacher's Grand Prix-Winning Ferrari sold for $7.5 million in New York on Thursday (Nov 16), setting an auction record for a modern-era Formula One car, Sotheby's said.

Furious bidding

The seven-time world champion's 2001 Ferrari F2001 sparked furious bidding, roaring past its pre-sale estimate of $4-5 million at Sotheby's flagship post-war and contemporary November evening art sale.

It put the buzz into a night that otherwise fell short of the dizzying heights reached by Christie's on Wednesday selling a painting of Christ attributed to Leonardo da Vinci for a record $450.3 million.

Sotheby's said it was the first time that a rare automobile was included in an art auction and the decision appeared popular.

The sleek, low-slung, fire-engine red vehicle may not have been a work of art, but Gregoire Billault, senior Sotheby's vice president, called it "the very best racing car ever sold at an auction."