The seven-time Formula One champion's iconic red and white Ferrari zip-up, which he donned at the 2006 British Grand Prix, has Schumacher's name embroidered on the belt alongside a host of sponsors. 2006 marked Schumacher's final year at Ferrari before he retired. He then returned to Mercedes in 2010 before retiring for good following his 2012 campaign, The Daily Star reported.
The suit measures 19 inches across the chest with a 23-inch inseam and has zips up the front with a concealed zipper.
The auction would also include a race suit worn by two-time champion Fernando Alonso at the 2008 Japanese Grand Prix, the report said. Alonso's brightly coloured suit features his name embroidered on the belt along with a Federation Internationale de l'Automobile accreditation on the collar and has a starting price of 9,000 pounds, the report added.