text: A rare Bentley which has lain gathering dust for years has been bought for almost four times its estimated value - but still needs a full restoration. The 1954 Bentley R-Type Continental Fastback was estimated to sell for around £200,000 by auctioneers but ended up being sold for £739,212 - a record for the auction house. Originally commissioned by Welsh racing driver R D Weatherall and painted in his racing colour of purple - the license plate still bears his initials. The 1954 Bentley R-Type Continental Fastback (pictured) sold for almost four times its estimated value . The rare Bentley needs a full restoration after it was allowed to gather dust in a barn over the past 15 years . More than 45 people placing bids on behalf of bidders from around the world in the room, over the phone and on the internet. The Bentley eventually sold a to an anonymous British car collector - who faces the task of restoring the car to its former glory. But when it is ready, it could be worth more than £1million - and would prove itself a wise investment for the buyer. A strong market and rising prices mean vintage vehicles are increasingly popular as financial investments - and the value of some classic cars rose by 257 per cent between 2005 and 2013, it was recently reported. But when it is ready, it could be worth more than £1million - and would prove itself a wise investment for the anonymous British collector who bought it . Earlier this week, a clapped out 1962 Aston Martin DB4 Series III went on the market - offering car fanatics the chance to restore the virtually untouched vehicle - with the promise of being worth three times its £220,000 price tag when finished. The R-Type was the second series of post-war Bentley automobiles, replacing the Mark VI. It was considered the epitome of British luxury in the 1950s as well as being the first car to carry the Continental nameplate. It was the fastest production car of the period as it could reach 120mph. But despite its speed capability, the Continental model was produced specifically for the domestic market in continental Europe. And despite vehicles having the same uniform style, each car was unique in detail and unlike almost every car of its time, the Continental had an all-aluminum body. Richard Charlesworth, Bentley's director of royal and VIP relations, described the 1954 Bentley as 'one of the rarest and most iconic cars of its time' as only 218 were made. He also referred to it as 'almost the Bugatti Veyron of its day'. However, this white model is far from fast after spending the past 15 years gathering dust in a barn. When new, the Bentley was the world's fastest four-seat car - capable of 120mph. This was thanks to a 4.9-litre engine which developed almost 180bhp - a large figure for a 61-year-old car. Tony Cavell, director at Barons, said the winning bid was 'an absolutely fantastic result'. He added: 'A 'lost' car always attracts collectors' attention, and when it's such a rare, iconic and valuable machine, that interest can lead to a frenetic bidding battle such as we saw yesterday. 'It will be fascinating to see the 'journey' the Bentley now takes, as its restoration commences.' This virtually-untouched 1962 Aston Martin DB4 Series III went on the market for £220,000 will be worth three times the price if fully restored .
target: The Bentley R-Type Continental Fastback was expected to sell for £200,000 .
  But an anonymous car collector bought it for £739,212 in Surrey yesterday .
  When the vintage car is restored, it could be worth more than £1million .
  Described as 'one of the rarest cars of its time' as only 218 cars were made .