A 1936 Lagonda LG45R Rapide was the headline lot of Bonhams' September 13 Goodwood Revival sale, achieving £1.5m ($2.4m).
This equates to growth of 10.7% pa since its last sale for $1.3m, at Bonhams in 2008 - and sets a new world record for the model at auction.
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WO Bentley, founder of the marque of the same name, designed the car in 1935. He came to work for Lagonda after Rolls-Royce bought out his share of the company that same year.
The Rapide swiftly proved one of the most successful racers of its era and was still competing up until 1960.
The model sold, number plate EPE 97, is one of the four originals built for Fox & Nicholls - a London based coachbuilder with whom Lagonda enjoyed a long and fruitful partnership.
Bonhams described it as "an enormously charismatic classical British sports-racing car which is extremely easy and rewarding to drive.
"It is capable of terrific open road performance by the standards of the time, and still surprises many drivers of modern motor cars today as it is absolutely capable not only of sailing past them, but of maintaining extraordinarily satisfying average speeds on all kinds of road."
We have this racing jacket worn by actor and racing enthusiast Paul Newman.
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