1904 Rolls fetches record auction price

LONDON, Dec. 4 (UPI) -- The world's oldest Rolls-Royce fetched a record price Tuesday when it was auctioned in London.

The Times of London said the 1904 two-seater was sold for more than 3.5 million pounds ($7.24 million) to a private collector who said he would keep the historic vehicle in Britain.

The Times described the vehicle as the fourth car produced by partners Charles Rolls and Fred Royce at their pioneering factory in Manchester.

Powered by a 10-horsepower engine, the car is described by experts as still drivable. It features the smooth, quiet ride that has become a hallmark of Rolls-Royce vehicles.