A 19-year-old Range Rover that formerly made up HM Queen Elizabeth II's private fleet of vehicles has sold at auction for a record figure, having changed hands for a fraction of in July.

In fact, its value has just in just four months by a staggering 302 per cent! 

Offered at the weekend's Iconic Auctioneers NEC Classic Motor Show in Birmingham, the luxury SUV went for a winning bid of £132,750, which is more than double its pre-sale estimate and believed to be the highest amount paid at auction for a 2004 example of the premium 4X4.

Its sale price will come as a massive blow to a former keeper, who parted with the Range Rover for a mere £33,002 in the summer.

The very same car was sold earlier this year with only circumstantial evidence that it is connected to her Late Majesty.

With nothing concrete about its former keeper, the sale price when the hammer dropped in July was a quarter of what it went for this time around.

In fact, on Saturday it smashed its pre-sale estimate too, with Iconic Auctioneers predicting it would make only up to £60,000 ahead of the midlands event. 

The incredible 302 per cent jump in value in just four months is down to the vendor - having undertaken painstaking research after buying the car - unearthing confirmation of its Royal connection.

The owner tracked down video footage of HM Queen Elizabeth II driving the Range Rover with the number plate clearly visible, ending earlier assumptions and clarifying its heritage.

The clip (below) shows the third-generation L322 Range Rover - one of a number owned by the Queen during her motoring years - with Her Majesty at the wheel while attending a show in 2005.

READ MORE: The most expensive cars ever sold at auction: Ferrari dominates the top 10 countdown but ISN'T number one

Classic cars are one of the fastest appreciating high-value assets, increasing in price faster than art, wine, property and even precious metals.

That is why collectors are willing to pay through the nose to secure the most desirable models of all. 

But what is the most money ever spent on a motor vehicle sold at auction?

> Here's the top 10 countdown of models to change hands for the biggest sums when hammers dropped

The vehicle was commissioned and modified by Land Rover Special Vehicle Operations in 2004 as per Contract 34319 - as confirmed by the British car maker with a long-standing Royal Warrant - before delivery to the Royal estate.

It is finished in Epsom Green paint with Sand Hide leather interior.

From new, it has covered 109,675 miles. 

The service history is comprehensive, with its first service in April of 2005 with Stratstone Mayfair before a further five with Hunters Land Rover, two with specialists in Windsor, a further five services with John Dennis in Aylesbury and, most recently, a Land Rover service in July of this year.

What makes it stand out from a conventional Range Rover of this generation is the modifications ordered ahead of the Queen's ownership.

This includes a slightly different front grille with covert blue lights incorporated, a switch pack (to power said lights), front and rear seat covers, dog guard to keep the Queen's corgis in check, load space mat, side steps and mud-flaps.

And there are other fitments that are more specific to Her Majesty’s vehicles, such as dual rear window switches and rear grab handles to assist with entry and exit - a common feature on Royal 4X4s.  

Under the hood is Land Rover's tried-and-tested 4.4-litre V8 petrol engine.

'Remaining in excellent condition throughout and with confirmed Royal ownership, this is one Range Rover that has, and will, stand out from the crowd,' the auction house said ahead of the sale.  

Rob Hubbard, MD of Iconic Auctioneers, said following the record winning bid: 'This sale highlighted once again what makes for a success at auction, the best of the breed, rarity and celebrity associations.'

Prior to the video being found, the only original ownership information on the car was a letter from JLR which identifies that in July 2004 it was sent to Stratstone Land Rover, Mayfair, for a warranty recall before a second recall at Peter Vardy Land Rover, Aberdeen - which is the closest franchised Land Rover dealership to the Balmoral Estate.

With the Royal Family traditionally frequenting Balmoral between July and September, the assumption being that the car was seen in Mayfair before being transported to Balmoral where it was again seen after the family left to return to London.

There were other tell-tale signs that this was a former Queen-owned motor, including filler in the bonnet to cover the mount for where the Labrador motif would have been attached, and the same on the roof to fill where the communications system aerial would have been attached.

The Queen's Range Rover wasn't the only record breaker...

This superbly presented 1974 Ford Escort Mk1 RS2000 was another example of the best of its kind, changing hands for a never-before-seen sum for a motor if this ilk. 

It sold for an auction world record £108,000 - the previous auction record for a Mk 1 Escort was circa £48,000. 

That's not a bad long-term investment, given the car would have originally cost £1,586 from new, which in today's money (using This is Money's historic Inflation Calculator) is just £22,818. 

Fresh from a five-year professional restoration, it had covered just 60,933 miles from new.

When this car was launched in England on 11 November 1973 it was priced at £1,586. Having sold for £108,000 this weekend, it’s just another example of how Fast Fords are appreciating in value today.

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