Bernie Ecclestone’s £300M Car Collection Hits Auction as Michael Schumacher F1 Car Included

Alex Harrington | Dec 1, 2024

Jul 7, 2007; Silverstone, ENGLAND; Formula One president/ceo Bernie Ecclestone during qualifying for the 2007 Grand Prix of Great Britain at Silverstone. Mandatory Credit: GEPA pictures/ Mathias Kniepeiss via Imagn Images / GEPA/Imagn Images

Bernie Ecclestone, the 94-year-old former chief of Formula One, has made the decision to auction off his vast car collection, which is estimated to be valued at over £300 million. The collection, a culmination of over 50 years of careful curation, is more than just a testament to automotive history; it's a personal legacy that Ecclestone has decided to part with to ensure a seamless estate auction.

At the heart of this decision is a desire to spare his wife, Fabiana, the burden of managing the collection in the future. Ecclestone said the following on his decision to sell:

"I am 94 and with luck I might have a few years longer – who knows? – but I didn’t want to leave Fabi wondering what to do with them if I was no longer around."

Ecclestone's car collection is revered as one of the most prestigious in the world, featuring 69 cars with illustrious Formula One pedigree. These machines aren't just cars; they encapsulate some of the greatest history of motorsport. Among the jewels of the collection is Michael Schumacher's Ferrari from his 2002 F1 world championship, a piece valued at more than £10 million. This is accompanied by Niki Lauda’s Ferrari, Mike Hawthorn’s 1958 championship-winning car, and Sir Stirling Moss's Vanwall VW10, which was instrumental in securing Vanwall's first constructors' championship 66 years ago.

The sale of these vehicles is being managed by Tom Hartley Jnr Ltd, renowned dealers of historic racing machines. Interestingly, the sales will not take place through public auctions but rather through private transactions, ensuring that these "rare works of art," as Ecclestone calls them, find appreciative and capable owners.

"After collecting and owning them for so long, I would like to know where they have gone."

Ecclestone's cars have fantastic race histories, offering more than just aesthetic allure. "They are more important than any road car or other form of race car. They are the pinnacle of the sport," he said.

Bernie Ecclestone's career has been synonymous with the transformation of Formula One into a global behemoth. Often referred to as the "father of modern Formula 1," his leadership transformed the sport into a multi-billion-dollar industry. His affinity for grand prix cars rather than sports cars is evident in his collection, which includes a diverse range of models from different eras, including cars like the 1931 Bugatti Type 54S and the Ferrari Thin Wall Special.

For Ecclestone, the decision to sell these cars is as much about estate planning as it is about personal reflection. "I love all my cars but maybe I should have done this five years ago, but I never got round to it until now," Ecclestone reflected.

On a personal level, Bernie’s move is deeply rooted in family considerations. His wife, Fabiana, and his daughters, Tamara and Petra, have little inclination to be saddled with the responsibility of the collection. A source close to Ecclestone affirms:

"It is unlikely his wife or daughters would want to be lumbered with the hassle of selling Bernie’s cars." However, it is hinted that his young son Ace might one day venture into building his own collection, bolstered by the resources at the family’s disposal. "And, let’s be honest, if Ace wanted to start his own collection at some point in the fairly distant future, he’d have the funds to do so," the source added.

Ecclestone's decision also reflects a chapter closing for him personally. As he moves his collection to new homes, he steps back from a lifelong passion that defined much of his identity outside of his public persona. The meticulous care with which these cars have been maintained and stored, such as in his private hangar at Biggin Hill airport, speaks volumes about his commitment.

Looking to the future, Ecclestone has settled matters regarding his legal and financial background, including a significant settlement of £650 million related to undisclosed assets in a trust.

In a final reflection, Ecclestone said: "I have decided to move them on to new homes that will treat them as I have and look after them as precious works of art."