Fangio's Mercedes W196 sells for 17.5m

Friday 12th July 2013, 18:01 by TF1T Staff 

Bonhams

A Mercedes W196 put up for Auction on Friday has sold for a record breaking £17.5 million ($26.5m) at the Goodwood Festival of Speed.

The 1954 Mercedes - driven by Juan Manuel Fangio - was expected to sell for around £10m which would have equalled the current record for a car after a Ferrari 250 Testa Rossa sold for £10.5m in 2011.

However, interest in the car, which won both the German and Swiss Grands Prix, as well as helping to power Fangio to his second of five championships, attracted several bids which pushed the price well above its estimate.

Racing historian Doug Nye wasn't surprised by the price despite the cars condition after it was found abandoned in a warehouse.

"The first time I saw this car I needed oxygen; it's landmark technology and it was driven by a landmark driver," he told Eurosport. "Some people think it looks grotty - that's not the point - the really rare cars today are the unrestored ones.

"Every car that's restored has lost a part of its history because it's been obliterated by repainting or by rebuilding. Nothing's been obliterated on this; it's just a beautiful survivor."

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