A Ferrari driven by Michael Schumacher to four victories in the 1998 Formula 1 world championship has been offered for sale.

The car on sale, a Ferrari F300, also known as chassis 187, was powered by a 3.0-litre V-10 engine and featured a maximum engine speed of 17,500 rpm, producing 800 horsepower.

While McLaren largely dominated proceedings in 1998, the F300 was continually developed and fine-tuned during the season, going onto take its first of four race victories at the Canadian Grand Prix at Montreal’s Circuit de Gilles Villeneuve.

Schumacher and chassis 187 were successful at the next two races, scoring victories in France and Britain.

The three consecutive victories enabled Ferrari to vault back up in the standings and into serious contention against McLaren-Mercedes for both the drivers’ and constructors’ titles.

A few weeks after the winning streak, Schumacher scored his 33rd career win behind the wheel of chassis 187 when he crossed the finish line at the Italian Grand Prix.

He would eventually finish as runner-up to Mika Hakkinen in the championship standings, with six race wins over the season.

The Scuderia retained chassis 187 until September 1999, when it was then sold directly and privately to the previous owner in the same race-used condition in which it remains today.

It will be publicly offered for sale in Monterey for an estimated $8.6 – $11.4 million.

The offering of the car for sale comes as the seven-time Formula 1 world champion was recognised by the government of North Rhine-Westphalia.

The State Prize of North Rhine-Westphalia is the highest award that is able to be bestowed upon a person from that region and is given to one person annually.

Haas Formula 1 driver Mick Schumacher said it was great to see his dad honoured in that way.

“Obviously it’s something amazing to see my dad getting honoured for that,” Schumacher said.

“I think it’s the biggest honour he can get in that state, so that’s great to see.

“It’s really amazing to see and I’m so proud of my dad.”