The auctioneers who sold the most expensive car ever to be sold at public auction have said that they always knew it would be a 'very, very important car'.
The former Formula 1 racing car was driven by the F1 world champion Juan Manuel Fangio in 1954 when he clinched the second of his five titles.
The Argentinian drove the car to victory in the 1954 German and Swiss Grand Prix races.
A private buyer bought the car over the telephone.
"At £19.6 million inclusive, it's a new world record by some distance.
"We had eight telephone bidders at the start of the bidding and we had three people in the audience, so we had more than 10 people who were prepared to spend. Of those 11 bidders, only five got the chance to bid.
"Our own personal record of £5 million was achieved last year for a Bentley. The price that we achieved today is over three times that, so it's extraordinary.
"We always knew that it was a very, very important car."
The unbeaten 4 year old racehorse Frankel will compete at Glorious Goodwood in Sussex later. Racegoers will hope he can continue his unbeaten run of 11 wins.
He has been the highest rated racehorse in the world since May 2011. Conservative estimates value him at 100 million pounds
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