Wednesday, 12 October 2011

World's oldest car sold in auction

The world's oldest running car has been sold for almost $4.6 million (£3 million).

The De Dion-Bouton et Trepardoux, which was built in France in 1884, was offered to used car buyers at an auction in Pennsylvania, United States.

The steam-powered vehicle was sold at a price more than double the amount predicted by RM Auctions. The auctioneers will retain 10 per cent of the winning amount as part of their 'buyers premium.'

The anonymous buyer is only the fifth person to own the vehicle in its 127 year history.

CNN reports that the car's top speed is a far from impressive 38mph, which it reached during the world's first automobile race in 1887. Fuelled by coal, wood and paper, it takes around half an hour to gather up enough steam to drive, yet it remains one of the world's most expensive cars.

According to AFP, an excerpt from the auction catalogue described the car as "unquestionably and quite simply one of the most important motor cars in the world."

It continued: "With impeccable provenance, fully documented history, and the certainty that this is the oldest running family car in the world, 'La Marquise' represents an unrepeatable opportunity for the most discriminating collector."

The car was last sold in 2007 for around $3.5 million (£2.2 million).

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