The collection, estimated to be worth $60 million (around £47m), includes five classic red Ferraris, a Michael Schumacher racing suit, and a pair of Nike “Moon Shoes” bought for a record-breaking $437,500 (around £343,500), the BBC reports.

Other highlights include 100 iconic sneakers, such as original Air Jordans signed by Michael Jordan, and a 2008 Bugatti Veyron previously owned by Simon Cowell.

Mr Nadal, the former CEO of MDC Partners Inc, stated he is downsizing the collection, which was once housed in his private Toronto museum, to “enjoy the fruits of my labour and try and make the world a better place”. Proceeds from the auction will be donated to charity.