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LEADERSHIP QUOTE OF THE DAY (24 May 2012): Life is change. Growth is optional. Choose wisely. - Karen Kaiser Clark

MAN MADE

World's Oldest Car Sells For Millions

The 1884 De Dion Bouton et Trepardoux Dos-a-Dos Steam Runabout fetched a record-breaking $4,620,000 at auction in Hershey, Pennsylvania. The steam-powered vehicle still runs, and, despite not being powered by gasoline, is believed to be the world's oldest usable and running automobile.

The vehicle managed to fetch about twice its estimated value, though many, including Jonathan Welsh of the Wall Street journal, felt it would have a hard time even reaching the $2 million range.

The world’s leading automotive collectors recognised the incredibly rare opportunity the sale represented, which was reflected in the spirited bidding and impressive result. At its peak, the car reached 37 miles per hour, and was among the fastest vehicles in existence during its racing career. Just five people have claimed ownership of the De Dion during its long documented history.

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