Schumacher Ferrari sells for $7.5m

Michael Schumacher's F2001 has sold at an auction for a record price for an F1 car at a staggering $7.5 million. The auction took place in New York and saw the car in which the 7-time world champion won his fourth world title in go for up to double its estimated price.

Boasting 900hp, a 3-litre V10 engine and one of the most iconic liveries in the history of the sport, the F2001 gave Ferrari and Schumacher 9 wins on the way to the title that year, with the German earning almost double the number of points as second-placed David Coulthard.

Part of the figure will be donated to the Keep Fighting Foundation, Schumacher's charity set up after he was involved in a skiing accident in 2013.