A 1907 American Underslung 50hp roadster, the oldest sports car in the US, has sold for $1.4m at Bonhams' Preserving the Automobile sale in Philadelphia.
The auction took place at the Simeone Automotive Museum on October 6, with the lot achieving an increase of 7.6% on a $1.3m estimate.
 The American Underslung was discovered in storage during the 1960s |
The American Motor Car Company built the first Underslungs in Indianapolis in the early 1900s. The roadsters were introduced shortly afterwards and feature a lowered centre of gravity, allowing them to reach high speeds.
Dr Frederick Simeone of the Simeone Foundation commented prior to the sale: "In 1907 the American Motor Car Company made only the Underslung Roadster.
"No other car was listed and, furthermore, after a review of hundreds of other contemporary sales catalogs, no other US manufacturer offered a gasoline car for speed and sport."
Oil baron FC Deemer was the car's first owner. He bought it new to drive on his honeymoon.
Unfortunately, it was damaged in a barn fire in Pennsylvania while he and his wife were exploring the US - however Deemer was a man of means and swiftly bought a new one, shipping the burned specimen back home.
It remained in storage until professional restorer Walter Seeley discovered it during the 1960s.
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