Coys Ferrari F40A new car auction high has been set for the Ferrari F40 after a 1992 example sold for £790,000 at auction this weekend.

The Coys auction at the Nürburgring Oldtimer Grand Prix on Saturday 8 August saw the F40 sell for a record €1.12 million, to an apparently very happy (clearly very rich) German buyer.

Chris Routledge, managing partner at Coys, said: “The record Ferrari F40 is a remarkable achievement which we are really happy with.

“This is one of the last privately owned, one owner from new F40s in the world and we were entrusted with its sale by the Italian family who bought it.”

Delivered from Ferrari’s Modena dealership to the private collector in 1993, the F40 has been stored in a climate controlled garage all its life and hasn’t actually been driven since 2010.

The 478hp car has a mere 7,881km on the odometer – that’s 4,897 miles.

After a healthy round of bidding, the final sale price was “followed by a round of applause in the auction room.”

It’s the latest evidence classic car fever shows no signs of letting up just yet. And for more eye-watering prices of classic cars, adds Coys, look to the upcoming pre-1974 Porsche Classics sale at Hedingham Castle on 6 September, followed by the Coys sale at the 2015 Frankfurt Motor Show on 26 September…