The world's oldest surviving Rolls-Royce, which dates from 1904, has been sold at auction for a cool £3.5m, breaking two world records.

This is the highest price ever paid at auction for both a Rolls-Royce and a veteran car (pre-1905), according to auctioneers Bonhams.

This historic motor car was sold to a private UK collector, on the telephone, who successfully outbid two people in the room and two other telephone bidders.

It is the only Rolls-Royce old enough to take part in the prestigious London to Brighton Veteran Car Run, and will stay in the UK.

The price more than doubled previous world records, which were £1.76m for a veteran car (1884 De Dion Bouton) and £1.48m for a Rolls-Royce (1912 Silver Ghost Double Pullman Limousine).

The 1904 Rolls-Royce 10hp Two-Seater was first exhibited at The Paris Salon in the late autumn of 1904.

The car was displayed at the Olympia Show in London in February 1905, and, appropriately, returned to Olympia after some 102 years to be sold by Bonhams.

Stewart Skilbeck, senior motoring specialist at Bonhams, told The Times newspaper that global enquiries had helped to push its value a lot higher than originally expected.

"We've had very strong interest from across the world, generally from major collectors who already hold significant Rolls-Royce motorcars and this would be a trophy in any collection," he said.

"It's a very driveable car. It still tootles along beautifully and almost silently, as you'd expect a Rolls-Royce to do. It has a top speed of 40 miles per hour."

The article World's oldest Rolls-Royce is most expensive ever originally appeared on 999 Today