Bernie Ecclestone has achieved a record-breaking sale with the disposal of his renowned fleet of historic grand prix and Formula One cars, believed to be worth around half a billion pounds.
The 94-year-old former Formula One supremo, who amassed these vehicles over five decades, sold the entire 69-car collection to Mark Mateschitz, son of the late Red Bull founder Dietrich Mateschitz.
Mateschitz, 32, inherited 49 per cent of the global energy drink empire last October and confirmed that he plans to open the collection for public viewing in the near future. Although financial details remain confidential, the deal is said to represent the most valuable transaction ever to occur in the collectors’ car market.
Among the highly prized exhibits are Ferraris once raced by world champions Mike Hawthorn, Niki Lauda and Michael Schumacher, as well as a number of Brabham cars piloted by Nelson Piquet, Carlos Pace and Lauda himself. The line-up also includes the iconic one-off Brabham-Alfa Romeo BT46B “fan car”, which famously competed only once, triumphing at the 1978 Swedish Grand Prix.
According to broker Tom Hartley Jnr, who managed the sale, there has never been a classic car transaction “that even comes close” to this one in terms of scale and value. He revealed that there was interest from potential buyers across the globe, including two sovereign wealth funds, but noted that Ecclestone had a particular preference for Mateschitz.
Ecclestone had announced in late 2023 that he would sell the collection, although he stressed that his decision was unrelated to his recent legal issues. Following a guilty plea for fraud, having failed to declare a trust worth more than £400 million, he reached a settlement which included a record payment to HM Revenue and Customs and a suspended jail sentence of 17 months. Nonetheless, Ecclestone insisted these circumstances did not influence his willingness to part with the treasured cars, instead citing a desire to spare his family from dealing with the logistical challenges of such a substantial estate.
Hartley Jnr confirmed that Ecclestone’s unique, privately negotiated approach helped secure an optimal result, free from the unpredictable elements often seen at auction. He praised the extensive research efforts behind the sale, which included scrutinising Ferrari’s archives to verify each car’s racing history and chassis details.
Mateschitz, the only son of Dietrich Mateschitz, expressed delight that Ecclestone had entrusted him with such a historically significant array of machines. He has pledged to maintain and expand the collection, and it is widely expected that it will be displayed in Austria, reflecting Red Bull’s roots in the country.
Ecclestone, for his part, described the transfer as a relief and expressed satisfaction that these iconic Formula One cars will remain under the stewardship of a serious motor racing enthusiast. Although the deal was finalised swiftly, industry insiders believe it is unlikely to be bettered in terms of magnitude or prestige in the foreseeable future.