The world's oldest Rolls Royce was manufactured in 1904 and is the fourth Rolls Royce off the assembly line (fourth one to be built). It is a convertible with a 10-horsepower engine and is still running!
The car, which has had only three previous owners, was neglected for 30 years by its second owner. In 1950, it was bought by a Rolls-Royce enthusiast, Percy Binns, who restored it to its former glory.
After 27 years, Mr. Binns decided to put it up for sale, and it was expected to fetch just over one million US dollars. Instead, the car was sold for 3.5 million British Pounds (about $7.6MM US). The price established a new record for the most expensive Rolls-Royce ever to be sold, and also for the most expensive car of that era (pre-1905).
Sources: ukreuters.com, times online