For Sale at Auction: 1994 Panoz AIV Roadster in New Orleans, Louisiana

This 1994 Panoz roadster is powered by a Ford Mustang 225hp 5.0-liter V8 engine paired with a BorgWarner T5 5-speed manual transmission. It rides on an independent front suspension and a solid rear axle. It is finished in green with a tan leather interior with a matching snap-on tonneau cover. In addition, it is equipped with power 4-wheel disc brakes, a Traction-Lok differential, an analog speedometer and 16-inch alloy wheels fitted with BFGoodrich radial tires. The Panoz Auto Development Company of Braselton, GA, was founded in 1989. Don Panoz, who made his fortune developing the nicotine patch, provided the financial backing for his son Dan to build a no-frills, lightweight sports car. The younger Panoz purchased the rights to a chassis designed by Frank Costin and previously used in the defunct Irish sportscar called the TMC Costin. Panoz then secured Freeman Thomas to fashion a Lotus Seven-inspired body for the car from aluminum panels. The car was launched to the public in 1992. Interestingly, the Costin chassis never underpinned the Panoz roadster: Early cars used a TIG-welded stainless-steel tubular frame, along with extensive use of CNC machined and stamped parts. The first 10 cars were hand-assembled with a seven-man crew; additional production personnel were later added. This is one of six cars built in 1994 of the total 44 produced between 1992 and 1995.