1910 Panhard & Levassor classic car up 10% on estimate

A 1910 Panhard & Levassor classic car, which was discovered in a barn, sold on June 28

An extremely rare Panhard & Levassor from 1910 drew crowds in a June 28 auction, having spent 15 years lying dormant in a Gloucestershire, UK barn.

The classic vehicle, which featured in the 1955 film The Man Who Loved Redheads, was previously used as a taxi before being snapped up by the consignor's relative - a founding member of the Historic Commercial Vehicle Club - who saved it from being shipped to America.

After attracting interest from around the world and capturing several newspaper headlines, the car sold for £22,000, showing an increase of 10% on its £20,000 high estimate.

"It is in great condition considering and is a beautiful car. It was so rare the Panhard club did not even know of its existence," commented auctioneer Richard Edmonds following the sale.

It is believed that the new owner, who wishes to remain anonymous, will restore the magnificent machine to its original condition, with the auction house adding that it would serve as a perfect addition to any collection or museum.

Bidders will have a chance to own another of Panhard & Levassor's luxury vehicles soon, when an X19 roadster auctions as part of the collection of Prince Albert II of Monaco later this month. With the HAGI Top 50 Index reporting a 7.82% rise in value for leading classic cars in the first quarter of 2012 alone, and a 13.8% rise during 2011, now is the time to invest in this buoyant market.

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Images: Richard Edmonds Auctions