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Classic Mercedes race car driven by F1 champion Fangio fetches $29.6 million at UK auction

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 auction.

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.

The steel-colored car was sold at a classic cars auction by Bonhams auctioneers in southern England's Goodwood on Friday. The price included the buyer's premium.

A Ferrari 330GT, first owned by John Lennon, fetched 359,900 pounds at the same auction.