Two weeks ago we told you about one of the world's oldest running motor cars going up for auction in Hershey, Pa. That car, the 1884 De Dion Bouton Et Trepardoux Dos-A-Dos Steam Runabout, sold on Oct. 7 for more than double its estimated price--a cool $4.62 million. That includes a 10 percent buyer's premium.

The 127-year-old vehicle drew a standing ovation from the crowd, according to RM Auctions, which presided over the sale. Bidding started at $500,000 before immediately jumping to $1 million, which brought another round of applause.

The final price represents a new world record for an early motor car sold at auction, according to RM.

The winner will be the fifth owner of the historic machine. It was offered from the estate of John O'Quinn, a collector who bought the car from British Veteran Car Club member Tim Moore.

Moore toured the car in the 1990s after restoring it to full working condition. The De Dion also won the Pebble Beach Concours d'Elegance in 1997.

"We were honored to have been entrusted with the sale of this most important motor car from the renowned collection of the late John O'Quinn. The world's leading automotive collectors recognized the incredibly rare opportunity the sale represented, as was reflected in the spirited bidding and impressive result," said Rob Myers, chairman and founder of RM Auctions.

Check out the full story of the 1884 De Dion Bouton Et Trepardoux Dos-a-Dos Steam Runabout from last month here.

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