Peel P50 expected to fetch up to $120,000 at auction
A Peel P50 – the smallest production car ever built – is on sale this weekend, and could fetch as much as $120,000 (£93,276).
The example on sale is a 1964 model, which is being sold at the annual RM Sotheby's Monterey auction that coincides with the Concours d'Elegance at Pebble Beach, California, and is in great condition.
It is one of the few P50s to make its way across the pond to the United States and has been fully restored to showroom condition. It is believed that there are less than 30 P50s still in existence from the original 47 that were built.
Although the model on sale comes in Daytona White, it was originally adorned in Sunshine Yellow, before being restored into another of the original production colours.
Made famous by former Top Gear host Jeremy Clarkson driving the one-seater around BBC Television Centre back in 2007, the P50 has a 49cc, two-stroke single-cylinder engine that produces 4.5bhp and – depending on the weight of the driver – has a top speed of 38mph.
The original run of P50s was built between 1962 and 1965 by the Isle of Man-based Peel Engineering Company that was dissolved in 1974, but has since been reformed in 2010 producing P50s and Peel's other model – the Trident.
Another version of the P50 was sold at a Sotheby's auction last year for $176,000 (£136,800), and this model could go for a similar price with the bottom estimate set at $90,000 (£70,000).
Despite its size and the fact it has no safety equipment whatsoever, it is still road legal and has impressive fuel economy – up to 100mpg. It was famously advertised as being "almost cheaper than walking".