The Commercial Managing Director, Mr Claude Johnson (often described as the hyphen in "Rolls-Royce"), ordered a car painted in aluminium paint and the fittings silver-plated. It was the 12th 40/50 hp to be made. A plaque with the words "Silver Ghost" adorned the bulkhead. An open-top body by coachbuilder Barker was fitted, and the car readied for the Scottish reliability trials of 1907 and, immediately afterwards, another 15,000-mile test which included driving between London and Glasgow 27 times.
The aim was to raise public awareness of the new company and to show the reliability and quietness of their new car. This was a risky idea: cars of this time were notoriously unreliable, and roads of the day could be horrendous. Nevertheless, the car set off on trials, and with press aboard, broke record upon record. Even after 7,000 miles (11,000 km), the cost to service the car was a negligible £2 2s 7d. (£2.13). The reputation of Rolls-Royce was set, and the 40/50 very successful.
AX201 was sold in 1908 to a private customer and recovered by the company in 1948. Since then, it has been used as a publicity car and travelled worldwide. In 1989, the car was restored by SC Gordon Coachbuilders Luton, and P&A Wood, London, UK. It is now owned by cLtd. In 1984, the car was photographed in great detail whilst in storage in Luton by precision model makers Franklin Mint. This went on to become one of their best selling products. The Silver Ghost is considered the most valuable car in the world; in 2005 its insured value was placed at USD$35 million.
