Many of you are more than likely to know the name Bernie Ecclestone but not as many people are likely to have known that he was the owner of a collection of extremely valuable historic cars.

Bernie Ecclestone was probably best known as the former boss of Formula 1. He was the founder and CEO of the Formula One group between 1987 to 2017. He is 94 years of age. During the Formula 1 season he could be seen at numerous racing circuits around the world. He also used to compete in racing cars so was presumably quite knowledgeable about such vehicles.

Apparently, Mr Ecclestone had a collection of 69 historic cars that were reportedly worth in the region of £500 million. There was presumably quite a lot of interest in the cars but they ended up being bought by Mark Mateschitz who is the billionaire son of the deceased Dietrich Mateschitz who used to own 49% of Red Bull which share past to Mark Mateschitz.

There are a variety of historic cars including a number of Ferraris that were raced by some famous racing drivers such as Michael Schumacher and Niki Lauda who were world champions in Formula 1. There were also Brabham racing cars driven by the likes of Nelson Piquet.

It is expected that in due course the cars will be able to be seen by members of the public such as in a museum. Apparently, this has never been the case in the past so we are sure you will agree this will be welcome new especially if you are a Formula 1 racing fan.

The exact figure that the new owner paid for the cars is not publicly known.

It will be interesting to wait and hear where in the world the cars will be able to be seen by people.

Can you imagine what it would cost to insure historic cars worth the sort of figure that has been mentioned above? Needless to say, the premium would be huge.