Sotheby’s auction

The Ferrari in which Formula One legend Michael Schumacher won the 2003 World Championship title - The Michael Schumacher 2003 Ferrari F2003-GA, Chassis 229 - sold for nearly $15 million at Sotheby’s auction in Geneva on Wednesday.

"This remarkable car has achieved a world record price for a modern-era Formula One," the Sotheby's auctioneer said after the car went under the hammer for 13 million Swiss francs ($13.2 million).

When taxes and fees were added on, the final price stood at 14.6 million francs ($14.9 million), AFP quotes the auction house as later having said.