The Ferrari F2001 is a race car with an unique past. It belonged to Formula 1 racing legend Michael Schumacher. He drove it when he won the Monaco Grand Prix in 2001, one of the biggest motor sport events in the world.
In November, an anonymous bidder bought it for $7.5 million at Sotheby's Contemporary Art Evening Auction in Manhattan.
The Ferrari is featured on a new episode of CNBC's "Secret Lives of the Super Rich."
The car's enormous value can largely be attributed to its provenance. But in this case, the buyer is getting more than just a bit of history. The Ferrari, equipped with a 3.0-liter, 800 horsepower V-10 engine, can still race.
"[The pit crew] will fly out to you with their trucks and equipment, and wherever you want to race in the world, they'll help you start this car and run it the same way the team was supporting Schumacher in 2001," said Sotheby's representative Jake Auerbach.
"This is not only a chance to drive Shumacher's car, but a passport to all of the world's most significant and important motoring events," he adds. "Anyone you want to go to, if you own this car, you have an invitation already — even if you don't know it."
About $300 million was spent at the Sotheby's event in what Frank describes as a "feeding frenzy" for the 1 percent.
Most of the lots were more traditional pieces of contemporary art. Jean-Michael Basquiat's painting "Brother's Sausage" sold for more than $18 million. Andy Warhol's self-portrait "Fright Wig" topped $24 million. Gerhard Richter's "A. B. Still" went for the most of any item, just shy of $34 million. You can find full a listing here.
It was the first time a car was sold at the event, and the unique Ferrari went for even more than some expected.
Watch new episodes of CNBC's "Secret Lives of the Super Rich" Wednesdays at 10P/ET.