A 1955 Mercedes-Benz, dubbed the “most valuable automobile in the world,” has sold for a record €135 million (£114.4 million).

The automobile, one of two ultra-rare original 300 SLR Uhlenhaut Coupes from the Mercedes-Benz Classic Collection, was sold to a private collector.

The auction proceeds will be used to establish a global Mercedes-Benz Fund to grant educational and research scholarships in environmental science and decarbonization.

The coupe, named for its designer and senior engineer, Rudolf Uhlenhaut, was a “milestone” vehicle with distinctive “gullwing doors” that helped create the Mercedes brand.

The auction was held in collaboration with RM Sotheby’s at Germany’s Mercedes-Benz museum, with a small group of collectors and Mercedes-Benz customers in attendance.

The private bidder has agreed that it would be available for public viewing “on exceptional occasions,” while its twin will stay in business ownership and on display in Stuttgart.

“With the “Mercedes-Benz Fund,” we hope to inspire a new generation to follow in the innovative footsteps of Rudolf Uhlenhaut and develop amazing new technologies, particularly those that support the critical goal of decarbonisation and resource preservation,” said Ola Källenius, CEO of Mercedes-Benz Group AG.

“At the same time, the achievement of the highest price ever paid for a vehicle is amazing and humbling: a Mercedes-Benz is by far the most valuable car in the world.”

The private bidder has agreed that it would be available for public viewing “on exceptional occasions,” while its twin will stay in business ownership and on display in Stuttgart.

“With the “Mercedes-Benz Fund,” we hope to inspire a new generation to follow in the innovative footsteps of Rudolf Uhlenhaut and develop amazing new technologies, particularly those that support the critical goal of decarbonisation and resource preservation,” said Ola Källenius, CEO of Mercedes-Benz Group AG.

“At the same time, the achievement of the highest price ever paid for a vehicle is amazing and humbling: a Mercedes-Benz is by far the most valuable car in the world.”

“As a worldwide corporation and a premium brand, we face a tremendous deal of duty to society,” said Renata Jungo Brüngger, a Mercedes-Benz board member.