In 1903, you could purchase a Ford Model A Rear Entry Tonneau for $850. Over the weekend, the last one remaining sold in an auction for $264,000.
The vehicle was seen driving around in 1903 through 1904 and is considered one of the oldest cars still around and the oldest surviving car produced by Ford Motor Co.
"With its provenance, and it's an early one, it's a great little car," said Carlton Pate III, the author of "Pate's Early Ford Automobile Encyclopedia" to The Detroit News. "It's also got a little history behind it."
The car was sold in an auction held in Hershey, PA for less than half of the value it was sold for in 2007. The car was auctioned off for $630,000 five years ago.
Pate believes that the price the vehicle was sold for this weekend is more understandable then the price it went for in 2007. The car was also sold in 2010, when the highest bid was $325,000. This amount did not meet the auction reserve however according to The Detroit News.
According to RM Auctions, the estimated value of the car is approximately $350,000 to around $500,000.
If you're to go by RM's estimated worth price then the current buyer, whose name has not been released yet, essentially got the vehicle for a bargain.
In total, the 1,250 pound car has had five owners during the last 11 decades. The model sold was the thirtieth one purchased that year by a man named John O' Quin.
Only 677 original Model A cars were released in 1903, and the one sold this weekend is the last one left.
The vehicle includes all of the original features and the engine was completely rebuilt before it was sold in 2007. Some of the features include a two-speed transmission, live axle suspension and mechanical brakes according to RM Auctions. The wheelbase is 72 inches.
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