The car, which is steam-powered, is considered the oldest car in the world that still runs, according to Yahoo!News.
The car, built in 1884 in France, was purchased on Friday for 4.6 million dollars.
There are rumors that there is a car held in National Motor Museum of Britain that holds the title of the oldest working car, however reports show that this car only have three wheels and does not resemble the modern automobile, therefore disqualifying it.
The De Dion-Bouton et Trepardoux Dos-a-Dos Steam Runabout, nicknamed "La Marquise," is reported to have the top speed of 38 miles an hour and has had only four previous owners in the last 127 years. The car, which sold for more than twice its estimate, was constructed for the French Count De Dion, a founder in the company that built it. The nickname comes from the count's mother.
The catalogue says about the car, "It is unquestionably and quite simply one of the most important motor cars in the world."
The identity of the new owner was not disclosed.