A rare Mercedes race car became the highest selling car ever sold at auction when an anonymous bidder shelled out 19.6 million pounds, or $29.6 million, at a sale in Britain this week.

Five-time Formula 1 World Champion driver Juan Manual Fangio won two grands prix with the 1954 Mercedes-Benz W196.

The vehicle also becomes the most expensive Mercedes-Benz ever sold as well according to the Bonhams auction house according to Reuters 

"We've just witnessed history in the making," Bonhams Motoring Director James Knight told Reuters from the sale at the Goodwood Festival of Speed in southern England.

The previous record was held by a 1957 Ferrari 250 Testa Rossa, which sold for $16.39 million back in 2011.

The 2.5-litre straight-8 Mercedes-Benz has competed in five world championship-qualifying Grand Prix races. After the driver won the 1954 Swiss Grand Prix win, the W196R was retired to the Daimler-Benz Museum according to Reuters.

Other cars were sold at auction this week including John Lennon's first car, a 1965 Ferrari GT coupe.

The late Beatles' first vehicle sold for 395,000 pounds at Goodwood. Lennon purchased the blue sports car after passing his driving test in 1965 and then sold it three years later according to Reuters.

The vehicle had a top pre-sale estimate of 220,000 pounds.

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