Mercedes-Benz says rare classic car fetches record $143M at auction

STUTTGART, Germany — Now that’s a hefty price tag.

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According to The Associated Press and CNN, Mercedes-Benz announced Thursday that one of its vehicles, a rare 300 SLR Uhlenhaut Coupe built in 1955, sold for a record 135 million euros – about $143 million – in an auction earlier this month.

In a news release, the company said a private collector bought the car from the automaker’s classic collection on May 5 during an auction at the Mercedes-Benz Museum in Stuttgart, Germany.

“This icon of automotive history is an absolute rarity – one of just two prototypes built at the time. Named after its creator and chief engineer, Rudolf Uhlenhaut, it is considered to be one of the finest examples of automotive engineering and design by automotive experts and enthusiasts worldwide,” the release said, adding that the final auction price makes the vehicle “the most valuable car of all time.”

A 1963 Ferrari 250 GTO set the previous record when it fetched $70 million in 2018, according to CNN.

Mercedes-Benz said it plans to use the proceeds from the Uhlenhaut Coupe’s sale to create a scholarship fund.

“The program funds will be directed to individuals who otherwise do not have the financial means for their projects and career paths,” the news release said. “The program will go beyond financially supporting the young people and include extracurricular elements like Mercedes-Benz mentorships opening up new career prospects.”

The Associated Press contributed to this report.