Mercedes Automobile Sells for a Record $29.6 Million

Who says the economy is in bad shape? Today, Juan Manuel Fangio's 1954 Grand Prix-winning Mercedes Benz W196 was auctioned off by Bonhams auction house. It set a world record for the highest priced car ever sold, at $29.6 million.

World Record

This was way above the estimate of $7.5 million. The buyer's name was not disclosed as he wishes to remain anonymous. (Could it be Jay Leno?) This beats the previous expensive car record when a Ferrari Testarossa prototype was hammered at $16 million a couple years ago.

Great Mercedes Benz

The automobile has fully-independent suspension and a fuel-injected 2.5-liter straight eight engine.

It had been sitting in a warehouse for around 30 years, and has all its original parts.

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