A CAR that flies has been the dream of the automotive industry for generations. But, at long last, anyone with a few million dollars to spend can now buy the world’s first fully-operational Skycar.

Moller International, the California- based company that invested a reported $200 million developing the vehicle, has put its M400X working prototype up for auction on eBay.

When bidding ends on Thursday, whoever wins will walk away with the keys to a sleek four-seat cruiser that comes fully loaded with cup-holders, eight rotary jet engines and a top speed of 375mph.

Delivery will not be immediate, however. The Skycar’s new owner will have to wait until after the vehicle’s official press flight, when more than 1000 journalists will witness a demonstration of a machine the creators believe will lead to a range of personal hover cars that glide off the forecourt for the price of a family saloon.

“This is a chance to own a piece of aviation history. In the next few years, we are going to be supplying vehicles for paramilitary, military and other specialised users,” said company founder and vehicle designer Dr Paul Moller.

“Initially you are not going to see many of these vehicles in the civilian market, but they are going to arrive in fairly large numbers soon. Within 10 years 25% of the American population will have access to this type of vehicle and within 25 years, 90% will.”

A combination of helicopter, jet plane and mid-range car, the M400X takes off via 500lbs of downward thrust. Once airborne, its engines swivel upwards to a rear-facing position and propel the craft forward at heights of up to 8000ft with a recommended cruising speed of 275mph and a range of 750 miles.

Designed to fit your average garage and folding to a width of 8ft 6in, the Skycar can also be driven on the road like an ordinary motor vehicle – and the similarity doesn’t end there. Onboard flight control systems which govern most of the M400X’s processes mean the pilot only has to master a simple set of hand controls which tell the vehicle to go forwards, backwards, up or down.

By the time production models are rolling towards delivery, the hover car’s designers hope to have further refined the system. In years to come, they claim the entire process will become fully automatic.

“Someday you will be able to drive to the vertiport, where the Skycar would be coded into an airway network and could then be operated without your input. You would be a passenger, reading, playing computer games or sleeping while you are taken from point A to point B,” Dr Moller said.

Users of eBay have bombarded the company with questions about the vehicle’s capabilities, each of which has been meticulously answered by its staff. The Skycar is not capable of towing a caravan, but has enough cockpit space to stow a tent and fishing pole if required.

Unfortunately, its unique configuration also means that none of the available anti-theft devices will fit it, and while a take-off speed of 6000ft per minute is impressive, the lack of an after-sales market means owners will be unable to customise their model with chrome hubcaps, exhaust enhancements or whitewall tyres.

At the time of going to press, bidding on the prototype had passed $2m, but is expected to reach a final price in excess of $4m.

However, anyone prepared to wait until 2008, when the Skycar is expected to receive Federal Aviation Administration approval in the US, can secure one of the first production models with a deposit of $100,000 and a final payment of $400,000 on receipt of their new vehicle .