A Mercedes 'streamliner' raced by Formula 1 legends Stirling Moss and Juan Manuel Fangio has sold for a record £42.75m (€51.155m) at auction.

Axar.az reports that the silver W196 R Stromlinienwagen was driven by Argentina's five-time F1 champion Fangio as he won the 1955 Buenos Aires Grand Prix.

Britain's Moss piloted the car at the Italian Grand Prix at Monza the same year, setting the fastest lap at an average speed of 134mph before retiring.

The Silver Arrow was sold by RM Sotheby's at the Mercedes museum in Stuttgart, Germany, on behalf of the Indianapolis Motor Speedway (IMS), and became the most expensive Grand Prix car ever sold.

The previous record was held by another ex-Fangio Mercedes W196 from 1954 that went for £19.6m after commission and taxes at Goodwood in 2013.