Steve McQueen's old motorcycle goes for $775,000

By Chris Isidore @CNNMoney

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A 100-year old motorcycle once owned by Steve McQueen has sold for $775,000, making it one of the most valuable motorcycles ever.

The motorcycle, a Cyclone Board Track Racer, looks more like a bicycle with a motor added on than a traditional motorcycle. The model was made by the Joerns Motor Manufacturing Co. between 1913 and 1916. This motorcycle was auctioned off Saturday by Mecum Auctions in Las Vegas. Despite its modest appearance a motorcycle from this model was recorded going 111 mph in 1914, which was a record at that time.

The motorcycle was owned by McQueen, and was previously purchased at an estate auction in November 1984, four years after his death. It has been restored since then.

McQueen was an avid collector of cars and motorcycles and his ownership can sometimes result in a sales price five times greater than what a comparable vehicle would sell for at auction. The $775,000 for this motorcycle was slightly more than the top price expected before the auction.

The most expensive motorcycle ever sold at auction was the $1.35 million paid this past October for the chopper used in the film "Easy Rider."