Former Formula One boss Bernie Ecclestone has completed the sale of his extensive collection of historic grand prix cars for what is believed to be around £500 million, setting a new record in the collector car market. The sale, which includes 69 vehicles amassed over five decades, was bought by Mark Mateschitz, the 32-year-old son of the late Dietrich Mateschitz, founder of Red Bull.
Mateschitz, who inherited 49% of the Red Bull empire following his father’s passing in October 2022, plans to open the remarkable collection to the public in the near future. While the exact financial details of the sale remain confidential, it is understood to be the most valuable car transaction ever recorded.
The collection features several rare and prized Formula One cars, including Ferraris once driven by legendary champions Mike Hawthorn, Niki Lauda, and Michael Schumacher. It also includes a series of Brabham cars raced by Nelson Piquet, Carlos Pace, and Niki Lauda. Among the standout vehicles is the Brabham-Alfa Romeo BT46B “fan car”, which famously won the 1978 Swedish Grand Prix in its only race appearance.
Broker Tom Hartley Jnr, who facilitated the sale, stated that no classic car deal has come close to matching this one in terms of both scale and value. Hartley revealed there was global interest in the collection, including from sovereign wealth funds, but Ecclestone specifically preferred to sell to Mateschitz.
Ecclestone had announced his intention to sell the collection in late 2023, though he emphasized that his decision was unrelated to the legal challenges he faced, including a fraud conviction for failing to declare a £400 million trust. Despite the legal settlement, which involved a hefty payment to HM Revenue and Customs and a suspended jail sentence, Ecclestone maintained that his decision was driven by a desire to avoid burdening his family with managing such a large and valuable estate.
Mateschitz expressed his gratitude for being entrusted with the collection, vowing to preserve it and potentially expand it. It is expected that the collection will be displayed in Austria, a nod to Red Bull’s origins. Ecclestone, for his part, described the sale as a relief and expressed satisfaction that the cars would be cared for by a passionate motorsport enthusiast.
The sale, which took place privately, was conducted with meticulous care, including extensive verification of the cars’ histories through research into Ferrari’s archives. Industry experts agree that this deal is unlikely to be surpassed in terms of its magnitude or significance in the near future.
