An ex-Juan Manuel Fangio F1 car has sold for a record price in an auction during the Goodwood Festival of Speed.

The 1954 Mercedes W196 - similar to the one pictured - was used by the F1 legend to win both the German and Swiss Grands Prix en-route to the second of his five championship titles and came up for sale having been discovered earlier this year in a warehouse.

The car had previously been part of the Daimler-Benz Museum in Germany and had been in the National Motor Museum at Bealieu before going into private ownership.

The hammer eventually fell in the auction at ?17.5 million, over three-times the initial estimate, and eclipsed the previous record for a 1957 Ferrari 250 Testa Rossa, which sold for ?10.8 million two years ago.

"In every area of the car, there is evidence of just the most fantastic workmanship," historian Doug Nye told the BBC. "It was designed by very sophisticated, high-tech engineers. It's handcrafted and it's just like a piece of mechanical jewellery.

"I always say it's sad that these things have to be sold but on the other hand, as an enthusiast, it's just a privilege to have such an iconic and historic piece.

"I have been one of the stewards looking after the car for several months, and it will be quite a wrench to see it go."

Amongst other cars in the auction, an ex-John Lennon Ferrari 330GT went for ?320,000 while an ex-works Mille Miglia and Le Mans 24 Hours Austin Healey 100 sold for ?700,000.