File photo of Ferrari Formula One Driver Michael Schumacher of Germany Celebrates After Taking the Pole Position at the End of the Qualifying Session for the Bahrain Formula One Grand Prix at the Sakhir Racetrack in Manama
IN PHOTO: Ferrari Formula One driver Michael Schumacher of Germany celebrates after taking the pole position at the end of the qualifying session for the Bahrain Formula One Grand Prix at the Sakhir racetrack in Manama in this March 11, 2006 file picture. Reuters

A host of Formula One (F1) Ferrari modern/classic racing cars has been put up for auction. Among them are the cars that were raced by Michael Schumacher during the last few years of his stay at Scuderia.

The car that has brought German racing legend Michael Schumacher to his third World Driver's Title and the first world championship for Scuderia, F1-2000, is one of the most expensive cars being sold at Monterey, California. It was the same racing car designed by South African engineer and car designer Rory Byrne, who has not only designed cars for Scuderia Ferrari but also for Benetton.

The bidding will be hosted by RM Auction which will take place on Aug. 16. As posted on RM Auction's official website, the starting bidding price for Schumacher's F1-2000 Ferrari is set to $1.75 million and it could be auctioned as much as $2.5 million.

The F1-2000 Ferrari Chassis 198 was reportedly Scuderia's spare car during the 2000 F1 season. Schumacher has raced using the car twice. The 45-year-old seven time world champion, who is currently recuperating in a rehabilitation clinic in Lausanne, Switzerland following his tragic skiing fall in December, has raced using the car at the Brazilian Grand Prix and at the Spanish Grand Prix.

In addition, the car that Schumacher and former Irish racing driver Eddie Irvine Jr. has previously piloted, 1997 Ferrari F310 B, is also being put up for sale. The F310 B Chassis 179 is being sold at $ 750,000 to $950,000. Schumacher drove the car at the Belgian Grand Prix.

RM Auction has made it easier for people who are interested to place their bid on Schumacher's Ferrari as they can do it online. Interested bidders are required to register online and present requirements such as driver's license or passport identification, bank letter of guarantee, and copy of dealer and resale tax certificates for dealers from North America region. Bidders may also bid though a phone call or with the use of a qualified representative if they will not be able to make it on the site.