A Rolls-Royce Phantom Drophead Coupé has been bought at a charity auction for £800,000, more than triple the £260,000 sticker price. The successful bid was made at the 9th Annual White Tie and Tiara Ball charity event run by Elton John by a private buyer who’s expected to take delivery in the coming month.

The Drophead Coupé, unveiled in January this year, is a two-door, four-seat convertible handmade at Rolls-Royce’s Goodwood plant alongside the Phantom saloon. Its internal structure includes the latest in aluminum construction to save weight which measures in at an even 5800lb.

Power from its 6.75L V12 engine stands at 453bhp and torque tops out at 720Nm at a low 3500rpm. Drive is sent to the 21in rear hubs via a six-speed ZF gearbox, which gives it a 0-60mph time around the mid 5-second mark.