Iconic Ferrari F1 car sold by RM Sotheby's using cryptocurrency Himalaya Dollar

The sale of the 1989 Ferrari 640 from Nigel Mansell's personal collection reflects how cryptocurrency is going mainstream

LONDON, June 15, 2022 /PRNewswire/ -- The iconic 1989 Ferrari 640, driven by Nigel Mansell for Scuderia Ferrari in the 1989 F1 season, has been sold using Himalaya Dollar (HDO) – a stable coin listed on the Himalaya Exchange.

The transaction was completed for the equivalent of EUR3.6 million thanks to classic car auction house RM Sotheby's. The buyer and seller wish to remain anonymous.

Owned by legendary F1 driver Mansell, the car was retained in his personal car collection since 1989, having allegedly not been driven since its last Grand Prix race.

The Ferrari 640 earned the Italian race team 3^rd in the 1989 World Constructors' Championship and secured victory for Mansell at the Brazilian and Hungarian Grand Prix.

RM Sotheby's believes that this is the first time in history that a Works driver has offered his own Grand Prix Ferrari publicly at auction. It is also the first Ferrari F1 car equipped with a semi-automatic gearbox.

William Je, Founder and CEO of Hamilton Investment Ltd. and Founder of Himalaya Exchange, has said "I am extremely pleased that the buyer decided to purchase this world-class car using HDO. Despite the cryptocurrency market's recent dip, HDO has constantly remained stable with the US Dollar 1:1 without fluctuation. Impressively, this makes HDO the only stable coin in the world to maintain 100% during this time-period of uncertainty".

"HDO has gained the trust of RM Sotheby's. The exchange of HDO into the relevant currency was seamless.  The Executives and staff at the Himalaya Exchange acted with the utmost professionalism," said Bryon Madsen, President and Chief Strategy Officer of RM Sotheby's. 

In addition to RM Sotheby's, earlier this year, the Himalaya Exchange was also used by McLaren in a similar transaction that was reported in March 2022.  The Himalaya Exchange continues to gain the trust of merchants and sellers of any products. William Je went on to say, "Our military-grade technology has made Himalaya one of the most secure cryptocurrencies available in the marketplace".

Auction houses around the world are taking advantage of the increasing uptake of cryptocurrencies. In particular, many discreet ultra-high-net-worth individuals are seeking to use their investments in digital currencies to purchase historic items such as the 1989 Ferrari 640.

HDO is part of the Himalaya Exchange – an innovative cryptocurrency ecosystem that is unique for integrating a cryptocurrency exchange with a native trading coin (Himalaya Coin, 'HCN') and a stable coin (Himalaya Dollar, 'HDO'). The aim of the company is to empower people with financial liberty and create a world where people have control over their money, data and destinies.

For further information, please contact:  

Andrew Kennedy | 07551 398292 | andrew.kennedy@farrantgroup.com 

About RM Sotheby's
RM Sotheby's is the world's leading collector car auction house. With over 40 years of proven results in the collector car industry, RM's vertically integrated range of services, from auctions (live and online) and private sales to estate planning and financial services, coupled with an expert team of Car Specialists and an international footprint, provide an unsurpassed level of service to the global collector car market. RM Sotheby's is currently responsible for the most valuable motor car ever sold at auction.