Former F1 supremo Bernie Ecclestone to sell car collection worth ‘hundreds of millions’
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Former Formula One boss Bernie Ecclestone has announced that he will sell his extensive car collection, which is estimated to be worth “hundreds of millions” of dollars. The collection, consisting of 69 cars, features some of the most iconic and valuable vehicles in the history of motorsport, including world championship-winning Ferraris once driven by racing legends such as Michael Schumacher and Niki Lauda.
Among the cars set to be sold are the 375 F1, which won the Italian Grand Prix with Alberto Ascari behind the wheel, and the controversial Brabham BT46B “fan car.” This innovative vehicle made its debut in 1978 and won its first race before being withdrawn from competition and subsequently banned. The announcement of the sale comes after Ecclestone, who is 94 years old, pleaded guilty to fraud charges in 2023. He had failed to declare over £400 million (approximately $509 million) of assets held in a trust in Singapore. In addition to agreeing to pay back £653 million (around $830 million) to the UK’s HM Revenue and Customs, Ecclestone was sentenced to 17 months in prison, though the sentence was suspended for two years.
In a statement, Ecclestone explained his decision to sell the cars, saying that after years of owning and collecting them, the time had come to consider their future. “I love all of my cars, but the time has come for me to start thinking about what will happen to them should I no longer be here,” Ecclestone said. He further mentioned that he did not want his wife to be left to handle the cars’ fate after his passing, preferring to know where they would go.
Rather than auctioning off the cars, Ecclestone has chosen to sell them through renowned sports and race car dealer Tom Hartley Jr. Hartley, who is handling the sale, called the collection “the history of Formula One,” emphasizing its uniqueness and significance. “There has never been, and probably never will be, a collection like this ever offered for sale again,” Hartley said. He described the cars in the collection as some of the greatest of their time, many of which have not been seen for decades. He also highlighted that the collection includes several eight-figure cars, with the total value of the entire collection reaching well into the hundreds of millions of dollars.
Ecclestone’s connection to motorsport dates back to the 1950s when he briefly tried his hand at racing. After his driving career ended, he became a manager for drivers like Stuart Lewis-Evans and Jochen Rindt, both of whom tragically lost their lives in racing accidents. In 1971, Ecclestone made a pivotal move in his career by purchasing the Brabham F1 Team, where he worked with prominent drivers such as Lauda and Nelson Piquet. Under his leadership, Brabham won multiple world championships.
Ecclestone’s influence on Formula One grew significantly when he became the CEO of Formula One Group in 1987. He transformed the sport’s commercial landscape by founding the Formula One Promoters Association, later known as Formula One Management, which secured the sport’s global commercial rights. His business acumen and vision were instrumental in turning Formula One into a global entertainment powerhouse, and he remained a key figure in the sport for decades.
In 2017, Ecclestone was replaced by Liberty Media when they took over the ownership of Formula One. Since then, his presence in the sport has been reduced, but his legacy remains deeply embedded in the world of motorsport.
Now, as he prepares to part with his legendary car collection, Ecclestone is setting the stage for the next chapter of his life, ensuring that these priceless vehicles are passed on to new owners who will appreciate their historical value. The sale of the collection is expected to generate significant interest from collectors, museums, and enthusiasts around the world, making it one of the most high-profile car sales in history.
The decision to sell the cars marks a final step in Ecclestone’s life as he shifts focus from his legacy in the world of motorsport to securing the future of his beloved cars. With their unparalleled history and value, the sale of these cars will no doubt be a defining moment in the world of automotive collecting.
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