Minardi Promise Sparks as Auction Begins

The Minardi team have decided to add some excitement to their Formula One auction, which is kicked off today and which will go on for four days.

Immediately before bids open for each day's allocation, Minardi boss Paul Stoddart will auction a passenger ride in one of team's two-seater F1 cars.

The highest bidder will travel to Italy next week aboard a private European Aviation flight and will get a ride in the two-seater at the Misano circuit.

All proceeds from the sale of the two-seater rides will be allocated to the BBC Children in Need appeal and the Diana, Princess of Wales, National Air Ambulance association.

"In true Minardi tradition, in the course of the auction, we're offering participants the chance to bid each day for the ride of a lifetime in a Minardi F1x2 car, the proceeds from which will benefit two very worthwhile charities," said Stoddart.

"The world record for one of these rides is $275,000, and although the rides being auctioned here at Ledbury are totally unreserved in terms of price, I'm sure the generosity of those attending will ensure excellent donations are made to both the Children in Need and the National Air Ambulance."

The event, one of the largest auctions in Formula One history with over 5,000 lots being offered - including 40 cars - is aimed at raising funds for the running of the team.

Official auctioneers, Bache Treharne LLP, report they have received registration applications from more than 21 countries, and that at least 1,000 individuals and companies have registered to bid in the auction.