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“The value of the car lies in its history” – What’s behind the sale of the Ferrari that Michael Schumacher first drove

"The car’s value lies in its story"- What goes behind selling the Ferrari that Michael Schumacher drove for the first tim

The Ferrari that Michael Schumacher first drove at Fiorano in 1995 went on sale in 2020 and the responsibility fell to Girardo & Co.

Well, several questions come to mind when an F1 fan hears of an old F1 going on sale. But this 1995 Ferrari 412 T2 is no ordinary car. This is the very first Ferrari driven by legend Michael Schumacher and the rest is well known to history.

In November 1995, Schumacher had already defended his 1994 world title with Benetton. He accepted Ferrari’s deal to race with them from the 1996 season. Schumacher arrived at Fiorano and figured out the car.

Five days later at Estoril, the then double world champion took the car to the track for testing. He clocked 0.7 seconds faster than Gerhard Berger’s qualifying time in the 1995 Portuguese GP.

The German driver went on to win five world championships in Scuderia Ferrari. The history as well as the high costs associated with manufacturing an F1 car make a sale complicated.

However, getting this business was not that complicated for Girardo & Co. The owner of the car when it went on sale in 2020 was a friend and customer of Girardo & Co.

Selling a Ferrari is complicated

It is obvious that the buyers and owners of such cars can be counted on the fingers. However, the owner of the car when it went on sale in 2020 was never seen in public with the car nor did Girardo & Co reveal his identity.

However, the firm advised its client to make the sale public. The logic was that the car’s value lay in its history and its connection to Schumacher.

Another complication with selling the car was that it was a Ferrari. A Ferrari F1 never goes away. They almost always come back for maintenance. In addition to this, the factory will require them to attend events, such as the Goodwood Festival of Speed.

Even though Ferrari makes all the arrangements, owners must be prepared to accept the demands of the Italian company. The current owner had bought the car in 2013. During his time with the car, he gave it to Ferrari to be rebuilt to racing standards.

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Inspection of Michael Schumacher’s Ferrari

The next thing in line for the company is to inspect the car to verify its history, since the sale is based on history. Hagerty spoke with Marcus Willis, co-founder of Girardo & Co, to understand what’s really going on behind the sale.

Willis explained that it is important to check and verify the car before selling it.

Every component, from the V-12 engine to the paddle-shift transmission, from the body to the suspension components and from the steering wheel to the seat. Everything had to be verified as original and to Scuderia Ferrari specifications.

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Price the car

It is not an easy task to determine the value of a car like this. After the inspection and verification, giving the car a price tag was the next task.

Willis said: “There is obviously a premium for a Schumacher car over an Alesi or Berger car.” He explained, however, that defining this premium is what is difficult.

Willis said there were about ten ultra-desirable Ferrari F1s with Schumacher history, including this car. Some come with race wins and championships, but as Willis says, they cost even more.

In its past deals, Girardo & Co had sold two Ferrari F1s and given them a price that the firm considered reasonable according to the market. However, Willis did not reveal the price of the current Schumacher Ferrari that was on sale.

Apparently, this information is for serious parties only.

Also, the car was not sold but Girardo & Co is negotiating with several interested parties.

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