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A unique SUV-sized wagon, modeled after a beloved children's toy, has sold for $88,200 at auction.

The original Radio Flyer red wagon became iconic in the 1930s across the US thanks to Antonio Pasin, who began mass-producing the stamped-metal toys after moving to New York from Italy. He named his creation "Radio Flyer," combining references to his Italian roots and the invention of the radio.

Designed to be affordable for every child, the wagons sold for under $3 each. The fully road-legal SUV-sized vehicle comfortably cruises at 55-60 mph speeds and has made headlines nationwide. It even completed a lap at the Indianapolis Speedway.

Judy Foster decided to auction off the rare vehicle after her husband, Fred Keller, who built the wagon using a 1976 Mazda pickup truck chassis 14 years ago, passed away. "I'll miss it and the joy of driving it. It's a delight to give someone a ride and see their reaction," Foster told CNN.

The wagon car was sold by Alaska Premier Auctions & Appraisals at an online auction. "This one-of-a-kind vehicle turns more heads than anything we've ever seen," the auction house said. "It's pure, nostalgic fun, evoking memories for nearly everyone."