( CNN ) -- A Mercedes more than a half-century old and driven by one of Formula One 's most famous racers , Juan Manuel Fangio , became the most expensive car ever sold at an auction , according to the auctioneer . The 1954 Mercedes-Benz W196R fetched $ 29.65 million Friday at the auction in southern England , said Bonhams , with the identity of the buyer not disclosed . That figure beat the previous record -- a 1957 Ferrari was purchased in 2011 -- by about $ 13 million , added Bonhams . `` I have handled some of the world 's most desirable and important motor cars during a motoring auction career spanning five decades , but I have reached a peak with this legendary grand prix car , '' Robert Brooks , the Bonhams chairman , said . `` It was a personal privilege to preside over the sale of this vehicle , which is not only one of the most significant motor cars of the 20th century but also the most important historic grand prix racing car ever offered for sale , '' he added . Argentina 's Fangio used the car en route to winning the second of his five world titles . Soon after it was placed in a museum . Fangio won a record 45 percent of the grand prix he entered and started nearly 60 percent of his races from pole position -- reigning Formula One king Sebastian Vettel does n't come close to matching that . He won the championship with four different teams -- the only man to achieve the feat -- and is also the oldest Formula One champion , claiming the title in 1957 at the age of 46 . `` If he were here today Fangio would shake his head and smile his slow smile , '' Doug Nye , a racing historian , told Bonhams ' website . `` He was a humble man , originally a mechanic from a potato town in Argentina and never forgot his roots . `` As a driver he was simply a genius . ''
A 1954 Mercedes used by Bonhams sells for almost $ 30 million in Fangio . The auctioneer claims it 's the most expensive car ever sold at an auction . Bonhams says the previous record was about $ 16 million , paid in 1954 for a Mercedes .