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Michael Schumacher's 2001 F1 car sells for $7.5m, nearly twice its estimate

Sotheby's auctioned one of Michael Schumacher's Formula 1 race cars this week, and it went for an impressive $7.5 million. When the auction house announced the car would be offered, it was estimating that it would go for around $4 million, making this a major success. The company also claims it's the most expensive modern era F1 car sold, though Sotheby's doesn't say what constitutes as "modern." It did sell for about twice what the last Schumacher F1 car sold through Sotheby's went for. That car was from the 2004 season and sold for just under $3.2 million. This particular car, an F2001 that, not surprisingly, was used during the 2001 F1 championship. It won two of the three races it participated in, and helped Schumacher win one of his 7 championships. It's in racing condition, and Ferrari will help with storage and transport for the car. The car's sale isn't just about a rich person getting a fancy collectable or toy though. Sotheby's notes that an undetermined portion of the proceeds will go to Michael Schumacher's charity, Keep Fighting. Among the charity's causes are road safety and head safety. The latter isn't surprising considering Schumacher's unfortunate skiing accident in 2013 that left him with a traumatic brain injury. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2001 Ferrari F2001 Image Credit: Sotheby's Celebrities Motorsports Ferrari Auctions Car Buying Racing Vehicles Performance michael schumacher RM Sotheby's sothebys

Vettel wins in Hungary as Ferrari finishes first and second

Sebastian Vettel won a tense Hungarian Grand Prix on Sunday in a Ferrari one-two that stretched his championship lead to 14 points after Mercedes rival Lewis Hamilton sportingly surrendered third place to his team mate. The German, savoring his fourth win of the season and 46th of his Formula One career, took the chequered flag 0.9 seconds ahead of team mate Kimi Raikkonen. The Finn had looked faster than Vettel for most of the afternoon. "I'm over the moon, that was a really difficult race," said the winner, who had to wrestle with a skewed steering wheel on a sweltering afternoon at the Hungaroring and had no room for error. Hamilton finished fourth after slowing down on the last lap and allowing Finnish team mate Valtteri Bottas to go past, despite the loss of vital points to the Briton's championship challenge. Bottas had let Hamilton through on the 45th of the 70 laps, on the assurance that his team mate would hand back the place if he could not overtake the Ferraris, and the triple champion duly kept his word. "Really thanks to Lewis for keeping the promise in the end and letting me by," said Bottas. "I don't think every team mate would have swapped back." Hamilton, whose radio was malfunctioning for some of the race and would have had more of a chance had he got past Bottas earlier, said he had done what he had to do. "It's tough in the championship but I'm a man of my word," he said. "I did say that if I can't overtake them I would let him back through." On a circuit where overtaking is notoriously hard, the top five all finished in their starting order with Max Verstappen fifth for Red Bull. The Dutch teenager was handed a 10-second stop and go penalty for colliding with his Australian team mate Daniel Ricciardo on the opening lap. The impact ended Ricciardo's race, with the car stranded on the track and fluid leaking from the broken radiator, and brought out the safety car. "It's not on. It was amateur to say the least. It's not like he was trying to pass – there was no room to pass," said an angry Ricciardo. "I don't think he likes it when a team mate gets in front. You've got the whole race to try and repair the mistake but the pass was never on. It wasn't even a pass, it was a very poor mistake." Fernando Alonso, who celebrated his 36th birthday on Saturday, gave struggling McLaren their best finish of the season so far by taking sixth place and also setting the fastest lap of the race.

Ferrari's bid for review of penalty against Vettel is rejected

LE CASTELLET, France — Formula One stewards on Friday dashed Ferrari's hopes of overturning a penalty that denied Sebastian Vettel victory in Canada, ruling that the Italian team had not presented significant and new evidence. Vettel, who finished first in Montreal on June 9 but was demoted to runner-up behind Mercedes' Lewis Hamilton after a five second penalty, told BBC radio he was disappointed with the outcome. Ferrari team boss Mattia Binotto, who had sought a review of the Montreal decision, echoed the sentiment and told reporters the matter was now closed. "As Ferrari we are all very unhappy and disappointed. We are disappointed certainly for Ferrari but for the fans and for our sport," he said. The Italian team believed they had 'overwhelming' proof to trigger a review but the FIA revealed some of that was Sky Sports' television analysis carried out by Indian racer Karun Chandhok. The Indian, who raced in Formula One for now-defunct tail-end teams Hispania and Team Lotus in 2010 and 2011 without scoring a point, was apparently unaware that his opinion formed part of the evidence. "Er... so, can I send you an invoice Ferrari? I mean, lawyers send bills whether you win or lose a case so...!!," he said on Twitter. The stewards decided Chandhok's video was "new but not significant and relevant" and the "personal opinion by a third party." The ruling means that Hamilton, a five-times world champion, has his 29-point lead over teammate Valtteri Bottas confirmed. He's 62 points ahead of Vettel. Mercedes has won all seven races this season, and nine in a row in total, and are favorites to chalk up another in France on Sunday. Ferrari sporting director Laurent Mekies had said earlier that the team believed the evidence to be "quite overwhelming when it comes to establishing that Sebastian did not breach any regulations." The stewards clearly found it underwhelming. They said footage of Vettel's face camera was previously available, as were analysis of telemetry data, camera angles from the car, post-race video images and the German's witness statement. The right of review calls for a team to present significant and relevant new evidence that was not available at the time of the decision. The stewards, whose ruling is final, had sole discretion to determine whether such a new element exists.