'Forgotten' Formula 1 car abandoned in warehouse for three decades set to fetch £5MILLION at auction

The 1954 Mercedes-Benz W196 driven by racing legend Juan Manuel Fangio

Stored in warehouse for almost three decades and will go on sale in July

Iconic car has innovative features including a fuel-injected engine

Fangio drove the car when he won both the German and Swiss Grand Prix

A Formula One car that was 'forgotten about' in a warehouse for almost three decades is expected to fetch more than £5million at auction.

The 1954 Mercedes-Benz W196 - described as 'one of the most significant motor cars of the 20th Century' - was driven by five-time world champion Juan Manuel Fangio.

The German-made car contains many features which were innovative at the time, including a fuel-injected engine, lightweight chassis and improved brakes.

The 2.5 litre Mercedes-Benz, being inspected by auction house chairman Robert Brooks, was driven by Juan Manuel Fangio during his 1954 World Championship winning Formula One season

The car, pictured being driven by Fangio, contained innovative features including fuel-injected engine

Racing historian Doug Nye said: 'The fist time I saw this car I needed oxygen. It's landmark technology and it was driven by a landmark driver.'

Secrecy surrounds the owner of the iconic car and auction house Bonhams would not comment on where the car was found.



It will be sold in its current condition with noticeable blemishes and dirt.

Mr Nye said: 'What's so special about it is that it has this wonderful, untouched patina.

'Some people think it looks grotty - that's not the point - the really rare cars today are the unrestored ones.

'Every car that's restored has lost a part of its history because it's been obliterated by repainting or by rebuilding. Nothing's been obliterated on this, it's just a beautiful survivor.'

He added that he did not mind if the car was bought by an individual or an institution, but he hoped it would go to 'an owner who really understands and an owner who really cares'.

Fangio won both the 1954 Swiss and German Grand Prix in the famous car The car will be sold at the Goodwood Festival and experts say it could go for more than its £5million estimate

THE MASTER: JUAN MANUEL FANGIO

Juan Manuel Fangio dominated the first decade of Formula One racing and is one of the legends of the sport. The Argentine won five Formula One World Drivers' Championships titles. That record was only broken by Michael Schumacher 46 years later. Fangio took the title in 1951 and then every year between 1954 and 1957. He is also the only Argentine driver to have won his country's Grand Prix. In the 1954 season, he began racing for Maserati until Mercedes-Benz entered the competition in mid-season. He won eight out of the 12 races that year, including both the German and Swiss Grand Prix in the iconic car. Fangio requested a car - chassis '00006' - had open wheels to cope with the twisty 14.2-mile Nurburgring road circuit. He then repeated the feat at the Swiss Grand Prix. After his retirement, Fangio became Mercedes-Benz Argentina Honorary President for Life and sold cars. He was inducted into the International Motorsports Hall of Fame in 1990 and died in 1995 at the age of 84.

The car was unveiled last night by Bonhams at its New Bond Street sale room.

Auction house chairman Robert Brooks said: 'This is my fifth decade in the business and it was the most exciting discovery that I've made.

'We've had a couple of cars that have made over £5million and our thought is that this will exceed that.'

Mr Brooks would not comment on where the car was found, but said he hoped the highest bidder would take it back to Germany to enable it to be driven again.

'It's been stored in a warehouse and largely forgotten about for nearly 30 years.

'Before it went into storage it had been recently run and run well.

'It's complete, and essentially a trip back to the Mercedes-Benz works - which would be the perfect place to get the thing running again - would probably see it back on the track or on the road in demonstration.

'It's all there to be put back together.'

The car will be sold by Bonhams at the Goodwood Festival of Speed in July.

Fangio drove the 2.5 litre straight-9 Mercedes in his victories at the 1954 German and Swiss Grand Prix races.



They were the first victories to be achieved in succession by the Mercedes-Benz factory after the war.



Mr Brooks said: 'My motoring auction career spans five decades and I have been privileged to have handled some of the world's most desirable and important motor cars.

