James Bond's submarine car sells for $865,000 at auction

Just as many say of Roger Moore's James Bond, his car has failed to live up to the original -- at auction.

A submarine fashioned from a Lotus Elise sports car that was used in the 1977 film "The Spy Who Loved Me" was sold in London on Monday for a high bid of $865,000, far less than the $4.1 million paid in 2010 for the Aston Martin DB5 driven by Sean Connery in the film "Goldfinger."

Read: License to thrill - the top five James Bond cars

The sale price was below the auction house's initial estimate price of $1-$1.5 million — perhaps because the vehicle cannot be driven on the road, although it is said to be a fully operational submarine.

After disappearing for many years, in 1989 the car was discovered among the contents of a storage unit in Long Island, NY, that had been sold off at a blind auction when its rent went unpaid. It has since been fully restored and is the only fully functional submarine car left of the six built for production of the film.

The Associated Press contributed to this report.