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Fangio’s 1954 Mercedes W196R F1 car sells for £19.6 million (video)

Fangio’s 1954 Mercedes W196R F1 (pictured) sells for £19 million The Goodwood Festival of Speed is all about cars and performance, but it’s not just cars on the ground and on the hillclimb. Goodwood is a Mecca for wealthy petrolheads as well as those who can only lust after the finest motoring metal – classic and current – so it’s a sensible place to run an auction for high-end cars. And you can’t get much more ‘high-emd- – at least in terms of value – than Juan Manuel Fangio’s 1954 Mercedes W196R Formula One car which went under the hammer yesterday at Bonham’s Goodwood auction, and reached a world record auction price of £19,601,500 (including premium – £17.5m before).

Can't afford a supercar? Rent one

ALONGSIDE more mainstream offerings such as Fiestas and Astras, rental company Hertz is now offering a taste of the high life across Europe by adding a selection of high performance and luxury cars to its fleet. Arguably the most eye-catching additions are the McLaren 12C and the Ferrari F12 Berlinetta, two cars costing in excess of £175,000 to purchase new and both capable of over 205mph. Other additions to the fleet include the Porsche Cayman sports coupe and the Cayenne SUV, plus luxury cars such as BMW X6 and Range Rover Sport.

Under the hammer, overseas: Russo and Steele explores classic-car auction in China

It's ambitious, it's unprecedented and it's loaded with pitfalls. But if it can be pulled off, it could serve as a template for international growth for American auction houses. Russo and Steele is expanding into China and has announced plans this fall to form a joint venture with a Chinese company as a foothold.