April 14, 2016 1:27 am
Updated: April 14, 2016 10:05 am

World’s rarest car restored in Okanagan

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KELOWNA, B.C. – It’s called the Peel P50, a three-wheeled microcar and one of the original few manufactured in the 1960’s is set to be restored in the Okanagan Valley.

Dave Thompson is spearheading the effort for his brother-in-law who bought the car for $100 more than 50 years ago at a second hand store in Vancouver.

“It was designed for a businessman in a suit and his briefcase,” said Thompson, who claims there are only six original Peel P50’s in the world from the original 41 built on the Isle of Man.

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The Peel P50 Wikipedia page states there were 50 made between 1962 and 1965, and states 27 are known to exist.

Thompson says the microcar was purchased as a toy and its condition proves that. It no longer works, the windows are missing and the roof was glued back on after a mishap on the family farm decades ago.

The car is set to be restored in Vernon and will be sent to auction after completion.

Thompson’s brother-in-law is counting on any cash generated to assist their retirement plans.

Sotheby’s auctioned off a similar vintage model last month in Florida for US$176,000 (CDN$235,000), making the restoration work that much more lucrative to Thompson’s family.

The Peel Engineering company recently received investment money to re-start production of replicas for about $25,000.

© 2016 Global News, a division of Corus Entertainment Inc.

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