A Ferrari formerly owned by racing legend Nigel Mansell sold for more than a three quarters of a million dollars at a Bonhams auction in Belgium.

The annual Bonhams auction in Zoute, which showcased the best in European motoring, achieved a record €3.8 million ($4.82 million).

Set in the picturesque and exclusive Belgian seaside resort of Knokke-Le-Zoute, the sale was held alongside the Zoute Grand Prix Rally and the Zoute Concours d’Elegance, and attracted a strong audience turnout with some keen bidding.

Philip Kantor, Head of the Continental European Motoring department, said: “We’ve enjoyed another great sale at Zoute, achieving nearly double last year’s total. Ferraris continue to excel, taking pole position as top lot, with Nigel Mansell’s F40 achieving €690,000 ($874,380) to a telephone bidder, and a 1972 Ferrari 365GTC/4 Berlinetta selling at €287,500 ($364,325).

 Mansell was the 1992 Formula One racing champion.

“Offering an eclectic selection from the best of European classic motoring, the Zoute auction attracts international interest with clients from across the globe bidding - wonderful for a sale in only its second year,” Kantor added.

Getting the sale off to an excellent start, a 1978 Alfa Romeo 8C Monza child’s car surprised bidders and specialists alike, surpassing all expectations of its €2,000-4,000 estimate and selling for an incredible €31,625 ($40,075).

A brace of Bentleys added British luxury engineering to the event, with a 1987 Bentley Continental Convertible selling far above estimate at €98,900 ($125,328), and from the T-Series, a 1970 Bentley T1 sold for €17,250 ($21,859).

In Maserati’s centenary year, the auction featured two of its classic models from the late 1960s. The Maserati Sebring 3700 Coupé achieved a comfortable €193,200 ($244,826), and the Maserati Mexico 4.7-Litre Coupé exceeded expectations, selling for €86,250 ($109,297).

Further sale highlights include a striking Zagato-bodied 1965 Flaminia Super Sport 2.8-Litre 3C ‘Double Bubble’ Coupé, at €299,000 ($378.898); a 1973 Mercedes-Benz 600 Pullman Limousine selling above estimate at €178,250 ($225,881); and one of the all-time great sports cars, a 1961 Porsche 356 1600 Cabriolet realising €172,500 ($218,595).

Bonhams, founded in 1793, is one of the world’s largest auctioneers of fine art and antiques. The present company was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son & Neale. In August 2002, the company acquired Butterfields, the principal firm of auctioneers on the West Coast of America.

Today, Bonhams offers more sales than any of its rivals, through two major salerooms in London: New Bond Street and Knightsbridge; and a further three in the UK regions and Scotland. Sales are also held in San Francisco, Los Angeles, Carmel, New York and Connecticut in the USA; and Germany, France, Monaco, Hong Kong and Australia.

Bonhams has a worldwide network of offices and regional representatives in 25 countries offering sales advice and valuation services in 60 specialist areas.