A classic Rolls-Royce sold for $5.8 million euros, or $7.1 million, at the Bonhams Goodwood Festival of Speed auction on the 29th of June, setting a new record for the most expensive Roll-Royce sold at an auction.

Known as “The Corgi”, the 1906 Rolls-Royce Silver Ghost is a Double Pullman limousine that can produce 40-50 hp. It is capable of reaching a speed of 60 miles an hour, and it gets about 15 miles per gallon. Its headlights, rear lights, carriage lights, and inflatable tires are all still intact.

According to Bonhams, the car was first acquired by John M. Stephens in 1912 at a price of about 12,000 euros. It was put up for sale after the death of its previous owner John O’Quinn. The sale of the car was described by a Bonhams representative as “pure theater”, with two revelers placing bids in increments of more than 125,000 euros until the hammer went down at 5.8 million euros. The final sale price is more than twice its expected sale price of 2.5 million euros.

This will not be the final big-ticket item from Bonhams this year. In September, the leading classic car auction company will be auctioning off a classic Mercedes-Benz that is expected to fetch more than $2 million.