A three-wheeled British car less than 1.5 metres long has just set an Australian auction record in Sydney.
The rare 1964 Peel P50 sold for $85,000 to a local collector, one of two microcars to sell. (The other was a 1962 Messerschmitt KR200, which sold for $22,500 at auction.)
The Peel sold after a bidding frenzy from Australia and overseas, Donington Auctions reports.
VIDEO: click here to watch a walk-around of the Peel 150 (no sound).
Weighing in at just 59 kilograms and measuring 137-centremetres (1.37m) long and 99 cm wide, the Peel P50 is officially recognised by the Guinness Book of Records as the smallest production car ever built.
It was made between 1962 and 1965 by the Peel Engineering Company on the Isle of Man in the United Kingdom.
According to Donington, it was recently discovered in a Queensland garage where it had remained untouched for almost 40 years along with the 1962 Messerschmitt KR200.
The Peel P50 just sold is believed to be the only factory-built example in Australia with only 49 produced and 27 thought to survive.
Donington Auctions’ Damien Duigan says the sale reinforces the appeal of unrestored rare vehicles.
“This result reinforces that rarity and unrestored originality remain key factors for collectors in today’s market,” he says.
“They’re willing to pay a premium for it.”
Donington reports that a Peel microcar sold for US$176,000 in March 2016.
ABOUT THE PEEL MICROCAR
The auction house says the Peel is powered by a single-cylinder 49cc DKW two-stroke engine with a three-forward speed transmission _ and no reverse gear; a handle at the rear allows the car to be wheeled backwards.
A top speed of 40mph (64kmh) was claimed with a fuel economy of 100 miles (42km) to the gallon (litre).
The car features a single ‘cyclops’ headlamp and one door.
The car was bought in England by the vendor’s father in 1976 and shipped to Queensland in 1988.
OUR EARLIER STORY: Microcars make the auction list
