The Panoz Auto Development Company of Braselton, Georgia 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 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.

Ford Mustang running mechanicals make up the engine, transmission and rear-end including a 225 bhp 5.0-liter V-8 shifted via a Borg-Warner T-5 five-speed manual transmission. An independent front suspension and solid rear axle complete the package. 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 an extensive use of CNC machined and stamped parts. The first ten cars were hand-assembled with a seven-man crew; additional production personnel were later added.

This pristine example has just under 6,150 miles on its odometer. According to the consigner, the Panoz factory confirms this is the second of six cars built in 1994 of the total 44 produced between 1992 and 1995. It is the only one built in 1994 in green with a tan leather interior which includes a matching snap-on tonneau cover. In addition, it is equipped with power four-wheel disc brakes, Traction-Lok differential, six-digit analog speedometer, and 16” alloy wheels fitted with BF Goodrich radial tires.