The car has been treated as a preserved specimen of Formula One history. It has remained shielded from the public during this time, has never been restored or altered from its as-raced condition, and is now publicly offered for sale for the first time.
The international classic-car market is booming after taking a dip during the pandemic, and a number of classic F1 cars are fetching high prices. In May, Nigel Mansell’s 1991 Williams sold for R68m, and last year Lewis Hamilton’s 2010 McLaren MP4-25 achieved R94m.
Other F1 champions’ race cars have sold for large sums in recent years. In 2017, a Ferrari 2001 raced by Schumacher was sold for $7.5m (R126m), the German’s 2002 Ferrari went for R106m in 2019, and in 2018 Ayrton Senna’s 1993 race-winning McLaren was sold for R73.7m.