FYI: Lewis Hamilton’s First Mercedes F1 Car to Hit the Auction Block at RM Sotheby’s
The iconic Mercedes W04, driven by Lewis Hamilton to his first victory with Mercedes in the 2013 Hungarian Grand Prix, is set to be auctioned by RM Sotheby’s in Las Vegas on November 17th. The distinguished F1 car, estimated at a value between $10 million to $15 million, is touted as a "real unicorn" of the automotive world due to its rarity and historical significance.
An Iconic Piece of F1 History
Shelby Myers, the global head of private sales at RM Sotheby’s, noted the car’s exceptional value: "This is the car that Hamilton launched his career with. With the Lewis Hamilton Mercedes in private hands, this is a real unicorn of a car. No one will ever buy another one unless Lewis Hamilton or Toto Wolff asks."
The W04 is also marked as the last Mercedes F1 car featuring a V8 engine before the transition to V6 turbo engines. Previously owned by an undisclosed buyer who acquired it from Mercedes-Benz Classic in 2017, this car’s auction is generating significant buzz within the motorsports community.
The Surge in F1 Car Values
Mercedes has a track record of creating record-breaking F1 cars. A 1954 Mercedes W196 driven by Juan Manuel Fangio sold for $29.6 million in 2013, while a Mercedes-Benz 300 SLR Uhlenhaut Coupe fetched $142 million last year, holding the title of the most expensive car ever publicly sold.
The market for modern F1 cars has bullishly responded to this trend. For instance, the Ferrari F2001 driven by Michael Schumacher sold for $7.5 million in 2017. Another Schumacher Ferrari, the F2003-GA, brought in nearly $15 million in 2022, marking the highest amount ever paid for an F1 car.
Myers emphasized the significant impact of Lewis Hamilton, noting, "Lewis Hamilton is by far the most influential driver of the modern era, not just from a racing perspective, but also for the way he has transformed the sport in terms of race, culture and fashion."
Why F1 Cars are Coveted
Enthusiasts and collectors regard old F1 cars as both status symbols and mementos of historic moments. Moreover, there is a growing trend of buyers restoring these vehicles to racing condition, indulging in what Art Hebert calls "wine-and-cheese racing"—combining elite cars with an equally elite social experience.
Renewed interest in F1 cars can also be attributed to Liberty Media’s efforts to globalize the sport. Following their acquisition of F1 in 2017, the series has gained a broader audience through ventures such as Netflix’s "Drive to Survive."
The High-Stakes Vegas Auction
In a bid to maintain an edge in the competitive auction industry, RM Sotheby’s is using the allure of F1 to diversify its offerings. The car’s auction will take place in the Awakening Theater at the Wynn Las Vegas Hotel, coinciding with the first-ever Las Vegas Grand Prix final. This event promises a spectacle of entertainment, featuring celebrity chefs, multi-million-dollar hospitality packages, and performances by stars such as J Balvin and Mark Ronson.
Highlighting the exclusivity of the event, Myers says, "These buyers might just want to come to a really fun event, and they have some disposable money and say, ‘Hey, there’s this amazing Lewis Hamilton car. I can imagine having that in my living room.’"
Notably, the auction also includes other high-value memorabilia like Tom Brady’s jersey from his final NFL game, expected to fetch between $1.5 million to $2.5 million.
Conclusion
The auction of Lewis Hamilton’s Mercedes W04 is poised to be a landmark event, joining the ranks of historic pieces that have captured the essence of elite sports moments. With RM Sotheby’s orchestrating a high-profile, entertainment-rich event, both seasoned collectors and new enthusiasts will witness a slice of F1 history being passed into new hands.
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Lawrence Jacobs, Editor of Automotive.fyi
