How much is too much for a car?

For most people, the price of a car is important, it’s a figure we can deal with, a number we can assimilate, an integer we have incorporated into our budget and can live with. Sometimes we go a little above our budget for personal reasons, or because we feel we have deserved those extras that bump up the price by a few thousands above our budget. But, what the heck!

But, what about those cars that start running into the hundreds of thousands, and a million plus… or two or three million; how about $24 million?

Yes! I said - $24 million.

OK, so this car is not your average run-of-the-mill vehicle; it’s very unique and very special, and its price tag is $24 million buckaroos.

This car was raced by legendary drivers Juan Manuel Fangio, [the Argentinian driver considered by many to have been the greatest racing driver of them all. An incredible man that amassed dozens of victories in all kinds of cars, including five Formula One world championships, a record not equaled until last year when Michael Schumacher won his fifth title, although Michael never raced in a T-shirt and a 1-layer helmet as Fangio did, but so it goes, and Sir Stirling Moss OBE, arguably one of the greatest all-round racing driver of all time, known during his career as ‘Mr Motor Racing’] before ending up in a museum in the 1980s. Some years later, the museum needed money for much needed renovations so they sold it for a couple of millions. Three and a half years later, the 1954 Mercedes W 196 was sold again to a French industrialist for $24 million.

Of course this car is more than just a unique car; this ‘one-of-a-kind’ machine is the chef-d’oeuvre of racing cars, the gradālis platter of the car collection universe, this is the vehicle that dominated Formula 1 racing for both the 1954 and 1955 seasons. It was a complete departure from previous Grand Prix cars and revolutionized racing car engine design with a valve system which used positive control of valve operation without valve springs. This system prevented fluttering and thus allowed higher rpm. Another unusual feature was the power takeoff by means of gears in the middle of the crankshaft between the fourth and fifth cylinder, which considerably improved the elasticity of the engine.

It’s unbelievable and mind-boggling that a machine can cost so much money. But in the end, you can ask yourself if these vehicles are worth that much; Weighing in the parts, history and lore, the value still often resides in the eye of the beholder; cars are a sentimental affair and they're only worth as much as people are prepared to pay. And while your ride quickly depreciates after purchase, these classics have become works of art.

By the way, this 1954 Mercedes W 196 is now owned by a German entrepreneur and businessman; in June of 1998 many newspapers around the world reported him paying less than half the amount of the original $24MM. Did he get a deal?