Ever dreamed of owning your own flying car… from the 1950s? If you happen to have $1.25 million lying around, you can make that happen!

It seems every year we see companies like Terrafugia and Moller promise that the flying car will soon be an everyday reality. But people often forget flying cars have been around for over half a century. Greg Herrick, an aircraft collector in Minneapolis, is selling his 1954 Taylor Aerocar N-101D with an asking price of $1.25 million. His flying car of the retro-future sports a yellow and black body and as you can see from the photo above, still works!

Herrick has over 40 aircraft in his private collection and the Aerocar was one of the first he ever purchased. He bought the flying car in the early 1990s from a man in Idaho and says he was drawn to the Aerocar just as many people in the latter half of the 20th century were. ”I was just at the tail end of that generation that kind of grew up with that dream of… well, I guess every generation has had that dream since the automobile — of a flying car,” Herrick told me.

The Aerocar was designed by Moulton Taylor in 1949 and only five were ever produced. In order to take flight the Aerocar must be converted into an aircraft with wings that fold forward. Though it looks cumbersome, the vehicle was marketed in the early 1950s as being so effortless that a woman could do it “without soiling her gloves.” The video below is a newsreel about the Aerocar from November 5, 1951.

Equipped with wings and a propeller, Moulton Taylor Aerocar aerobile was capable of taking off from a stoplight or the runway

Herrick’s Aerocar was first listed for sale in December 2011. His most recent listing includes some of the specs:

The AEROCAR features side-by-side seating for two. Advanced for its time, most of the fuselage skin is of composite material and the car is front wheel drive. In flight the wings are high and unobtrusive. Powered by a Lycoming O-320 Engine the propeller is mounted at the end of a long tail cone, the latter angled up for propeller clearance. Cruise speed is about 100 mph. Takeoff speed in 55 mph and the airplane is controlled by the same steering wheel as is used for driving.

But why sell it? ”I like rarity. I like unusual things,” Herrick tells me. “I like things that represent progress or tell a story. But as time passes your tastes start to become more refined. And no matter what it is you’re doing you can’t collect everything and you can’t be an expert in every area. So my interests began to migrate toward the golden age of aviation between the wars — in particular the aircraft that were almost lost to history. So this airplane is kind of superfulous to my needs.”

But if you’re thinking about buying this blast from the past don’t forget that you’ll need two kinds of insurance! “When I bought the thing, I was looking at the insurance and I had to have two different insurance policies: an aviation policy and then I had to get an auto policy,” Herrick said. Making sure you have two kinds of insurance is certainly one of those realities that The Jetsons never warned us about.