The new auto proved to be even better than its predecessor, with Schumacher claiming nine wins and five second place finishes from 17 races, while teammate Rubens Barrichello finished second and third five times each.
The seven-time world champion's F2001 vehicle was auctioned off at the Sotheby's Contemporary Art Evening Sale in NY.
He won nine races in total during the 2001 season in chassis #211, securing a second consecutive title for Ferrari with almost twice as many points as McLaren driver David Coulthard, who finished the season in second.
It was also the year Schumacher passed Alain Prost's win record in F1.
He started on pole position and finished first, beating teammate Rubens Barrichello by 3.3 seconds to seal his fourth championship along with Ferrari's 11 Constructors' Title.
Michael Schumacher's final Monaco Grand Prix-winning Ferrari has sold for $7.5 million at auction - a record for a modern-era F1 auto. But much like Da Vinci's "Salvator Mundi" the auto is unlikely to be seen much now it's in the hands of a private buyer.
Schumacher's third and final drive in the racing auto came at the Hungarian Grand Prix on August 19, 2001.
The expected sale price was in excess of $4 million. It is still driveable and it is also eligible for historic motor racing.
The winning bid was far higher than the estimate placed upon the vehicle, which was expected to sell for between $4 and $5.5 million. Let us know in the comments.
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