Coys auction house announced they have set a new price record as they sold a 1992 Ferrari F40 for €1,12 million at the 43rd AVD Oldtimer Grand Prix in Nurburgring, Germany. So the F40 is now officially a million Euro car and it won’t be long before it speeds past the two million mark.

Widely praised as the world’s first true supercar and Ferrari’s finest production ever, Ferrari F40 is a darling of car collectors the world over. It is still a relatively new car – by vintage car standards, at least – and they have made over one thousands units, both of which are reasons why it hasn’t already risen to the level of GTO model, which is to say insanely expensive and undrivable due to its sheer value. But it’s getting there.

Chris Routledge, Managing Partner at Coys, said: “The record Ferrari F40 is a remarkable achievement which we are really happy with, proving once again that Coys is one of the leading auction houses in Germany and Europe. This is one of the last privately owned, one owner from new F40s in the world and we were entrusted with its sale by the Italian family who bought it.”

He added: “For such an important car to come to the market, it created interest from around the world and was in the end sold to a delighted German buyer, followed by a round of applause in the auction room.”