Oldest surviving Rolls-Royce sets records

By Jeremy Lovell

LONDON (Reuters) - The world's oldest surviving Rolls-Royce revved up two new records on Monday when a private British collector paid 3.5 million pounds for it at auction.

The price makes the veteran vehicle not only the most ever paid for a pre-1905 car but also the most for a Rolls-Royce.

"They opened the bidding at one million and it soared from there. In the end it came down to a battle between two telephone bidders," a spokeswoman for auction house Bonhams said.

The previous record for a veteran car was the 1.76 million pounds paid for an 1884 De Dion Bouton, while that for a Rolls-Royce was the 1.48 million pounds paid for a 1912 Silver Ghost Double Pullman Limousine

Built in 1904, car 20154, a small 10 horsepower open-topped two-seater, is only the fourth vehicle produced by the landmark cooperation between Charles Rolls and Henry Royce and the oldest one still running.

"It is in perfect condition after loving restoration in the 1950s. 20154 is a runner. The purchaser could get in and drive it away," said Tim Schofield, head of UK motor sales.

"You would just need to tickle the carburettor, make sure the battery has a bit of life in it, remove the sleeve from the starter handle and give it a couple of turns," he told Reuters.

The car -- licence plate U 44 -- was first exhibited at The Paris Salon in the late Autumn of 1904.