( CNN ) -- Sebastian Vettel broke another Formula One world record Tuesday and he did n't even have to climb into a car to do it . A race helmet worn by the four-time world champion has set a new world record price at a charity auction in London . An intense bidding war surrounded the helmet , which featured a glittering gold design , at Bonhams auctioneers . The successful bidder eventually paid $ 118,000 for the helmet which was worn by Vettel on his way to victory in this year 's German Grand Prix . The figure topped the previous world record price of $ 116,189 paid for a helmet which belonged to Brazil 's late three-time champion Ayrton Senna . The funds raised by Vettel 's helmet will go directly to the Wings for Life charity set up by Red Bull Racing owner Dietrich Mateschitz . The charity focuses on research into spinal cord injuries . `` This is one of my favorite helmet designs from this season and it goes without saying that this was one of the most special races for me -- my first ever home win , '' Vettel told Red Bull 's official website . `` Just as the race meant a lot to me , Wings for Life does too and it 's my pleasure to donate this signed and worn helmet . '' A pair of helmets worn by retired Red Bull racer Mark Webber in his final season in F1 also added to the charity 's prize pot . Meanwhile , the Australian racer got his first taste of his new drive this week as he tested the Porsche LMP1 racer he will race in the 2014 World Endurance Championship for sports cars .
Sebastian Vettel 's Formula One helmet reaches record price at the auction . The glittering , silver helmet sells for $ 500 . All the money raised goes to the Wings for Life charity . Vettel wore the helmet on his way to victory at the 2013 German Grand Prix .