A classic Mercedes-Benz race car driven by Formula 1 legend Juan Manuel Fangio has sold for 19.6 million pounds ($29.6 million) at Bonhams Goodwood Festival of Speed Sale auction on Friday.

The 1954 Mercedes-Benz W196 single-seater was driven by the five-time world champion racer when he clinched his second title in 1954. The Argentine drove the car to victories in the 1954 German and Swiss Grand Prix races.

Bonhams chairman Robert Brooks called this car the “most important historic Grand Prix racing car ever offered for sale”.

A Ferrari 330GT, first owned by John Lennon, fetched 359,900 pounds at the same auction. The late Beatle bought the blue Ferrari after he passed his driving test in 1965 and sold it three years later.