The Verge reports that the one-of-a-kind Bugatti La Voiture Noire has taken the throne as the most expensive new car ever sold, coming in at a staggering $18.9 million.

Bugatti's La Voiture Noire, or "the black car," made its debut Tuesday at the Geneva International Motor Show in Switzerland, showing off its 16-cylinder engine, 1,500 horsepower and six exhaust pipes. Aside from its impressive specs, the vehicle pays homage to the Bugatti Type 57SC Atlantic, which was designed by Jean Bugatti, eldest son of the company’s founder Ettore. 

Bugatti design director Achim Anscheidt told The Verge that the La Voiture Noire was bought by the first person who was offered the car, even though it will not be in their possession for another 2.5 years. The publication claims that the very rare vehicle will have the "exact inverse value curve of a regular car: it'll start to appreciate rather than depreciate the moment it’s delivered." 

The most expensive car ever sold is still believed to be the 1963 Ferrari 250 GT. Purchased by WeatherTech founder David MacNeil, the prized possession went for a reported $70 million.