A 1955 Mercedes-Benz was auctioned off for $143 million

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The RM Sotheby's auction, which is recognised for selling some of the world's most valuable historic cars, took place on May 5 at the Mercedes-Benz Museum

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The car nearly tripled the previous record of $48 million set by a 1962 Ferrari 250 GTO.

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According to AFP, the car is one of only two models made by RM Sotheby's racing department and is named after the car's designer, Rudolf Uhlenhaut.

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According to a Mercedes-Benz statement, the other Uhlenhaut Coupe will remain in the Museum's collection.

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"The private collector has consented to provide access to the Benz for public display only on special occasions," the auction house told AFP,

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RM Sotheby's noted, "The proceeds from the auction will be used to establish a global Mercedes-Benz fund that will be invested in environmental science and decarbonization research."

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"Their racing cars from the 1930s and 1950s are rare, and most are still owned by the factory," said Brian Rabold, Hagerty's vice president of automotive intelligence.

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A 1955 Mercedes-Benz was auctioned off for $143 million

Only two variants are said to exist today, making it the most expensive car in the world.

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The RM Sotheby's auction, which is recognised for selling some of the world's most valuable historic cars, took place on May 5 at the Mercedes-Benz Museum

Auction at Mercedes-Benz Museum

The car nearly tripled the previous record of $48 million set by a 1962 Ferrari 250 GTO.

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Previoius costliest car sold was for $48 Million

According to AFP, the car is one of only two models made by RM Sotheby's racing department and is named after the car's designer, Rudolf Uhlenhaut.

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Two car models made

According to a Mercedes-Benz statement, the other Uhlenhaut Coupe will remain in the Museum's collection.

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Second car to be in the Museum

"The private collector has consented to provide access to the Benz for public display only on special occasions," the auction house told AFP,

Public display only on special occasions.

RM Sotheby's noted, "The proceeds from the auction will be used to establish a global Mercedes-Benz fund that will be invested in environmental science and decarbonization research."

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Global Fund

"Their racing cars from the 1930s and 1950s are rare, and most are still owned by the factory," said Brian Rabold, Hagerty's vice president of automotive intelligence.

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Rare racing Cars still owned.

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A 1955 Mercedes-Benz was auctioned off for $143 million