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$7.5 million Ferrari sets record

The seven-time world champion's 2001 Ferrari F2001 sparked furious bidding, roaring past its pre-sale estimate of $4-5 million at Sotheby's flagship post-war and contemporary November evening art sale.

It put the buzz into a night that otherwise fell short of the dizzying heights reached by Christie's on Wednesday selling a painting of Christ attributed to Leonardo da Vinci for a record $450.3 million.

Sotheby's said it was the first time that a rare automobile was included in an art auction and the decision appeared popular.

The sleek, low-slung, fire-engine red vehicle may not have been a work of art, but Gregoire Billault, senior Sotheby's vice president, called it "the very best racing car ever sold at an auction."

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The German racing legend has not been seen in public since suffering serious head injuries in a skiing accident in 2013. His record of seven titles and 91 career victories remains unchallenged.

When it came to the art, Sotheby's headline lot, a Francis Bacon triptych of the artist's lover sold for $38.6 million, well within its estimate of $35-45 million.

The auction record for a Bacon triptych is his "Three Studies of Lucian Freud" which sold for $142.4 million at Christie's in 2013.

Sotheby's other standout Thursday was an iconic 1972 Andy Warhol portrait of the founder of Communist China, Mao Zedong, which sold for $32.4 million, the auction house said.

Exhibited in Berlin, Turin and Paris, the painting had not previously been on public display since 1974.

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The other 10 "Mao" paintings of the same size are in prestigious collections, including the Andy Warhol Museum in Pittsburgh.

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