Our Classified of the Week includes Ferrari tuition and track licensing

New house missing that modern artistic centerpiece to show what a cultured individual you are? Well look no further. Why have a fountain or a naked bronze sculpture when you can purchase a world-renowned Formula 1 car?

Classic-car auction house Sotheby’s will be presenting for sale Michael Schumacher’s famed Ferrari F2001, chassis no. 211, at The Contemporary Art Evening Auction, held in New York in November. Yep, the great man’s F1 car that helped secure his fourth world championship crown, and Ferrari their 11th constructors’ title. This was also the car in which Michael won the last of his five Monaco GP races.

If we’re talking stats, Schuey’s 2001 title was of course, his fourth of seven overall F1 world championships, and the second in a straight run of wins for him and Ferrari between 2000 and 2004; a period of unbridled dominance and records “which may never be broken”, according to Sotheby’s.

Wonderful bit of machinery, too. Onboard sat a 3.0-litre Ferrari Tipo V10 engine, producing anywhere between 800bhp and 900bhp (depending on tune), running a seven-sped semi-auto ‘box. “Its scream at peak revs of 18,500rpm will never be forgotten by any who heard it,” Sotheby’s said. Fair point.

Described as “the most significant and valuable competition car in any collection worldwide,” the F2001 should clear a price tag “well in excess” of $4million, as part of the brand’s 70th anniversary celebrations. Essentially, it’s a pretty big deal.

But although it appears in a mere art auction, the F2001 can still be used at full capacity in historic racing. Ferrari are offering to house the car in Maranello and transport it worldwide for pre-arranged Corse Clienti events and track days, with some F1 technicians and drivers thrown in as well. Beats the year of breakdown cover you get with most purchases. Fancy your chances? Doubt you can beat our maximum bid of £236, though…

The Federation Internationale de l'Automobile recently finalized regulations regarding the 'Halo' safety device's place in the 2018 Formula 1 season, deeming it mandatory for all competitors.

After being put to a vote with nine out of 10 teams against the ruling, the motorsport governing body still decided to mandate the equipment, despite potential cost and deadline concerns. Now, reports claim that there are three companies bidding to supply Formula 1 with the equipment, and prices have been quoted at approximately €13,000 to €24,000 (about $15,000 to $28,000 U.S. dollars), or about as much as a small car.

Gemany's Auto Motor und Sportreports that these three companies are vying to manufacture the 'Halo' for Formula One, Formula Two, and Formula E. The equipment, viewed as necessary by the FIA, will reinforce the car's cockpit and provide safety in case of a rollover or impact.

Many teams were skeptical about the supposed-early decision to make the safety devices mandatory for next year. Force India had expressed in the pastthat the Halo could make the team miss its deadlines for the 2018 car, and now, the seemingly high price for a 10 kg piece of titanium-blended material is tacking onto the team's frustrations.

"It will be expensive," added Force India technical boss Andy Green. "We not only have to order Halos for the cars, but also for the FIA load tests."

This announcement seems as if it's moving in the opposite direction that Formula One owner Liberty Media is looking to take as far as budgets go. The company's previously released statements claimed that it was looking into ways to cut costs for a more competitive grid, and while teams like Ferrari and Mercedes who have an allowance of nearly $400 million may not suffer from this, others like Sauber may have a hard time keeping up with these compounding expenses.

With new powerplant regulations set to come into play by 2021, a large portion of team spending could be slimmed down by making engines cheaper and simpler. This could help to offset the added cost of the new Halo equipment and make it easier for new teams to enter Formula One.

The Chinese Grand Prix will continue to be a part of the Formula 1 World Championship for at least the next three years after a deal was agreed for Shanghai to host the race from 2018 to 2020.

From its debut in 2004, China has become one of the most important rounds on the world championship calendar. The Shanghai International Circuit has always hosted the event and is renowned as one of the most interesting and complete tracks from a technical point of view, as well as one that has always produced exciting racing with plenty of overtaking.

Alongside the renewal announcement comes news of a proposed date change - with the 15th running of the Chinese Grand Prix now slated to take place on April 15 next year, a week after the Bahrain Grand Prix. This change - a reversal of the two events' schedules in the provisional calendar released in June - is subject to the approval of the FIA World Motor Sport Council.

Speaking about the contract renewal, Chase Carey, Chairman and CEO, Formula 1, said: “We are very pleased to have reached an agreement which will see the Formula 1 Chinese Grand Prix continue as a fixture of the Formula 1 World Championship for at least a further three years.

“This great country has already demonstrated an overwhelming show of interest in our sport and we firmly believe there is still a great deal of unexplored potential here. That’s why this renewed agreement is so important as part of our development strategy, especially in this part of the world.

“We and our partners in this venture want to make this Formula 1 Chinese Grand Prix even more spectacular, while bringing Chinese fans ever closer to the sport. Finally, we wish to thank the Shanghai Municipal Government for the support it has given and continues to give to the Grand Prix, which has been a crucial element of its success”

Jiang Lan, Chairman of Shanghai Juss Sports Development (Group) Co. Ltd, which along with Shanghai International Circuit Management and Development Co.Ltd, agreed the renewal together with the support of the Shanghai Municipal Government, added: “The Formula 1 Chinese Grand Prix is one of the most prestigious and recognised events on the Formula One World Championship calendar.

“Since its Shanghai debut in 2004, the Formula 1 Chinese F1 Grand Prix has become a motorsport show piece for China but also a fixture for all of Asia Pacific’s and global motorsports fans. It is the most highly anticipated annual event in the city of Shanghai. As the promoter of the Formula 1 Chinese Grand Prix, Shanghai Juss Sports Development (Group) is delighted to announce an agreement to host the Formula 1 Chinese Grand Prix for three more years.

“Shanghai Juss Sports will continue to apply all efforts and resources to promote and grow the Formula 1 popularity in the future. The group is pleased to renew the Formula 1 host and promoter commitment, as it provides us an opportunity to stage the world’s ‘Top In Class’ international sports events and showcase the city of Shanghai as a truly global city.”