A remote-controlled car is expected to fetch more than a quarter of a million pounds at auction to become the “most expensive” in the world, according to experts.

The vehicle, which has a top speed of just under 50mph (80kp), is a scale model of the Ferrari F2002 driven by Michael Schumacher when he became Formula One world champion in 2002, and is a third of its size.

The car will be auctioned with a guide price of £200,000 at Whittlebury Park, Silverstone, along with 60 other items of motor racing memorabilia on Thursday, three days before the British Grand Prix.

Schumacher signed the rear spoiler of the remote-controlled car when he visited Atelier Mediatech in Switzerland, where it was made.

David Convery, head of sporting memorabilia at Graham Budd Auctions, which is hosting the auction with The Race, called the car a “feat of mechanical genius”.

He said: “This is a genuine work of art which took a team of expert engineers three years and 1,000 hours to create.

“The car’s top speed is 80kph (nearly 50mph), so whoever owns it next will certainly need a good-sized garden if they plan to test it out.

“With the auction taking place just days before the British Grand Prix and yards away from the pit lane at Silverstone, we’re expecting to see some big bids on these items from all over the world.”