The car is a Jaguar XK120 Competition Roadster, and was one of the world’s fastest cars when it left the production factory in 1953.
It was owned by mechanic Douglas Potter who raced the vehicle before storing it at his home in Surrey for more than four decades.
The car was being offered at the Coys auction in Ascot, Berkshire with a £15,000 to £25,000 estimate.
Classic car enthusiasts joined the bidding until the hammer went down at £85,000. Restoration will cost an estimated £100,000.