Ferrari Parts from Schumacher’s F1 Car Sell for Over €20M at Verona Charity Auction

The auction organized by the Ferrari Owner’s Club of Verona was very successful, featuring the sale for charity of several mechanical components from Michael Schumacher’s Formula One car. Over twenty million euros were raised from about ten items, plus some accessories, to the satisfaction of Pier Giuseppe Perazzini, president of the Ferrari Owner’s Club and himself a driver participating in the Cavallino Rampante challenge.

The auction took place in Colà di Lazise, in the picturesque setting of the Villa dei Cedri thermal park, with guests from all over Triveneto. After the gala dinner, with the grand tourers parked in the villa’s park, beautiful women in evening gowns and men in tuxedos, the president of the Ferrari Club Italia took on the role of auctioneer.

The dispute and the value of the items at the auction

The bidding war among collectors was fierce from the start. Some mechanical components from the victorious 2000 Formula One World Championship car reached seven times their initial estimated value, though still well below their true worth, considering the exorbitant costs associated with racing research, which make extensive use of special alloys and aerospace-grade materials.

It was thanks to the president of Ferrari Owner’s Pier Giuseppe Perazzini that Luca Cordero di Montezemolo, Ferrari’s president, agreed to donate the mechanical parts to the Verona-based club, which subsequently auctioned them off. Last year’s auction raised ten million euros; this year, the amount more than doubled.

The proceeds from the auction benefitted the children of Chernobyl, who sent a thank-you letter read publicly during the event. Let’s look at the value achieved by each item put up for sale and immediately purchased by Verona collectors.

The carbon trumpets, starting at 500,000 euros, sold for 700,000; the oil pump, from 500,000 to 800,000; two complete titanium pistons with connecting rods, from 400,000 to 1 million; the camshaft, from 500,000 to 2.1 million; the engine crankshaft, the heart of Ferrari, from 1 million to 7 million; and the cylinder head cover, from 1 million to 5.5 million euros.

Limited edition Ferrari-branded T-shirts, badges, and backpacks also quickly sold, all featuring the prestigious Ferrari logo—symbols that always ignite strong enthusiasm. (d.ca.)