Broad Arrow is extremely proud to offer one of the most iconic cars in Formula One history, the 1992 Benetton B192-05 that Michael Schumacher drove spectacularly to his first Grand Prix victory at Spa-Francorchamps in Belgium in August 1992. The car is offered as part of Broad Arrow's Global Icons: Europe Online auction, with bidding open from 23 to 30 January. Broad Arrow estimates that what may well be Schuey's most significant race car will sell for in excess of €8.5 million, almost $10 million.
This represents the first time Schumacher's maiden Grand Prix-winning car has been available for public acquisition. The significance goes beyond nostalgia. This machine marks the beginning of modern F1's most dominant career while simultaneously representing the end of an era for the sport itself.
The Race That Changed Everything
At the '92 race, Schumacher qualified third behind the McLaren of Ayrton Senna and the Williams of Nigel Mansell, but a combination of his raw pace, Senna gambling on wet tyres at the wrong time and Mansell suffering engine issues saw the German take victory by a comfortable margin. The 1992 Belgian Grand Prix unfolded in torrential rain, the kind of conditions that separate talent from machinery.
Schumacher was 23 years old. He'd started 16 races total. Senna was a three-time world champion. Mansell would clinch the 1992 title weeks later. Yet the young German outpaced them both in changing conditions on F1's most challenging circuit. As well as his first GP win, it was his first of six at the Spa-Francorchamps circuit, which he went on to cite as his favourite on the calendar.
Schumacher began the 1992 season driving an updated version of the previous year's car for the opening rounds, scoring podium finishes in Brazil and Mexico. The B192 arrived for round five in Spain. Chassis 05 specifically was used by Schumacher in five races: Canada, France, Hungary, and Belgium. The Canadian Grand Prix delivered second place. Belgium delivered immortality.
The Engineering Behind the Victory
The B192 was developed by a group widely regarded as one of the most effective teams in Formula One at the time. The car was designed by Rory Byrne, with engineering input from Ross Brawn and TWR, operating under team principal Flavio Briatore. That engineering team would follow Schumacher to Ferrari and orchestrate the most dominant period in F1 history. Their partnership began here.
Power came from a 3.5-liter Cosworth V-8 engine. The naturally aspirated V8 produced around 730 horsepower, competitive but not class-leading. Its performance relied heavily on Schumacher's rhythm and precision, particularly through Spa's fast transitions and variable grip. The car gave him a platform. He delivered the results that platform alone couldn't achieve.
Chassis B192-05 is historically significant as the last Formula One race winner to use a traditional H-pattern manual gearbox. The B192-05 was the last race-winning F1 car with an H-pattern manual gearbox, before the age of the paddleshift properly kicked in in 1993. Williams pioneered semi-automatic transmissions in 1991. Ferrari adopted them in 1992. By 1993, manual gearboxes had vanished from competitive F1. This Benetton represents the transition moment, the last manual winner before technology rendered the skill obsolete.
The Journey Through Time
The car remained at Renault's Enstone headquarters following their acquisition of the Benetton race team and formed part of their Classic Department collection until 2015, when it was sold, along with two other Benetton chassis, to LRS Formula, owned by Laurent Redon, a specialist in the operation of 1990s and 2000s Formula One cars. Redon's name should be familiar to racing fans with the Frenchman himself testing for Minardi in 1998 and later for Benetton in 1999.
A 2024 sales sheet attestation signed by Redon confirms chassis B192-05 was completely restored to working order while under LRS' care with a chassis overhaul and an engine and gearbox rebuild. The car changed hands once more in 2016, this time to its current private owner, described as a well-known racer of modern F1 machinery.
The restoration means this car could theoretically compete in historic racing series or demonstration events. Its upcoming online auction with Broad Arrow represents a chance to not only own a hugely significant piece of F1 history, but one that's theoretically ready to run in historic race series or demo events. The buyer acquires a functioning race car, not a museum piece.
The Legacy Context
While Belgium would be Schumacher's only victory in 1992, his consistently strong performances throughout the season still took him to third in the Drivers' Championship that year, with his first world title coming in 1994. The maiden victory at Spa preceded seven world championships, 91 race wins, and records that stood for over a decade.
The German driver went on to secure seven world championships and 91 race victories, setting records that stood for over a decade. Lewis Hamilton eventually matched the championship record. The wins record fell in 2020. But for an entire generation, Schumacher defined F1 dominance. This Benetton is where that dominance began.
The timing of this auction carries emotional weight. Schumacher suffered catastrophic brain injuries in a 2013 skiing accident. He hasn't been seen publicly since. His family guards his privacy fiercely. The auction of his first winning car becomes more than transaction. Yves Boitel, Car Specialist at Broad Arrow Auctions, who is handling the sale, said: "We cannot overstate how honoured we are to be able to publicly offer, for the first time ever, the Benetton B192-05 that first put Michael Schumacher on the top step of the F1 podium".
With an estimated value exceeding €8,500,000, it could join the select group of F1 cars worth over $8 million, alongside several Ferrari world championship winning single-seaters and McLarens linked to Hamilton or Schumacher. That's rarefied territory. Most historic F1 cars trade for mid six figures to low seven figures. Eight figure valuations are reserved for championship winners or cars with extraordinary provenance.
This Benetton qualifies on provenance despite never winning a championship. Schumacher's first win carries more significance than many drivers' championship-winning machines. The moment matters more than the trophy. Ferrari F2001 chassis 211, which Schumacher drove to victory in Monaco and Hungary during his 2001 championship season, is being auctioned in May 2025 at Monaco. That car will likely exceed this Benetton's value. But chassis 211 represents peak Schumacher. Chassis B192-05 represents the beginning.
The estimate feels conservative. Schumacher's championship-winning Ferraris have sold for significantly more in private sales. His 2003 Ferrari F2003-GA fetched $7.5 million in 2022. The Monaco-winning F2001 will probably exceed $15 million given its significance and auction location. An $8.5 million to $10 million estimate for his first winning car seems reasonable, perhaps even modest if bidding becomes competitive.
What You're Actually Buying
The Michael Schumacher 1992 Benetton B192-05 represents the precise moment Formula One changed direction, blending instinct, engineering, and ambition into a single breakthrough victory. Designed by Rory Byrne, the car balanced mechanical clarity with driver involvement at a moment when technology began reshaping Formula One.
You're buying the last manual gearbox race winner. The car that launched F1's greatest career. A functioning piece of motorsport history that could run at Goodwood or historic events tomorrow. More importantly, you're buying a moment frozen in carbon fiber and aluminum. August 30, 1992. Spa-Francorchamps. Torrential rain. A 23-year-old German beating Senna and Mansell in their prime. Everything that followed, all seven championships, all 91 wins, started here.
The auction opens January 23. Ten days from now, someone will pay over €8.5 million for chassis B192-05. They'll own the machine that announced Michael Schumacher's arrival as a race-winning force. Whether they'll ever drive it or let it run at demonstration events remains to be seen. But they'll own the moment F1's trajectory changed forever. That's worth every euro.