Meet the $7 million Rolls-Royce (Photo)

How much would you pay for an old car that gets only 15 miles per gallon and can reach top speeds of 60 miles per hour? Well, an anonymous auto enthusiast has paid more than $7 million for a 100-year-old Rolls-Royce Silver Ghost cutely nicknamed “The Corgi,” setting a new record for the most expensive Rolls-Royce ever to sell at auction.

A protracted bidding war for the luxury vehicle, in perfect condition, resulted in a price far exceeding the $3 million estimated by Bonhams auction house.

“This was a surprise to us,” a spokesman told The Telegraph, noting that the final bidders’ battle just “went on and on and on.” For what must have felt like 100 years.