​The iconic single-seater Ferrari Formula 1 car driven by the legendary Michael Schumacher in 2003 sold at an auction in Geneva on Wednesday for a record 14.6 million Swiss francs ($14.8 million).

The single-seater Ferrari driven by Michael Schumacher in 2003Photo: Fabrice COFFRINI / AFP / Profimedia

The F2003-GA 229 is now “the most expensive modern Formula 1 car in history”, announced Sotheby’s auction house.

The price paid for this single-seater is almost double the record of $7.5 million, which was held by another Ferrari car driven by the German champion during the 2001 season.