A 1903 Panhard et Levassor model KB four-cylinder side-entrance Phaeton will lead Bonhams' London to Brighton sale on October 31 with a valuation of £600,000-700,000 ($953,961-1.1m).

Ricardo Soriano, the Marques of Ivanrey, was the model's first owner. It was the 18th car ever registered in Spain.

Panhard was an early innovator in the automobile industry

Soriano is remembered as a colourful figure, best known for his work in promoting tourism - particularly in Marbella, which remains a popular destination for British holidaymakers.  

Panhard was founded in 1897 and built its first car in 1890. The company introduced a number of innovations which became standard, including the clutch and the steering wheel.

James Knight, Bonhams' group motoring director, commented: "At 111 years old, the Panhard is in astoundingly good condition for such a well travelled roadster.

"A wonderful addition to this year's sale, it is among some 20 veteran cars, making 2014 our biggest London to Brighton sale to date."

A 1904 CGV 6¼-Litre Type H1 four-cylinder side-entrance Phaeton is likely to prove another highlight, with an estimate of £390,000-440,000 ($620,655-700,227).

CGV built some of the most luxurious cars of the era, and counted various European royal houses among its clients. The present lot belonged to the head of Champagne house Louis Roderer.

Last week a 1930 Cadillac Roadster sold for $1.1m at RM Auctions.

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