The VW Phaeton is now a phantom

What a machine.

Born of a fever dream in 2002, the Volkswagen Phaeton W12 was meant to be, in the words of then-VW Chairman Ferdinand Piech, "the best car in the world."

And four years later, the Phaeton still commends itself to the title.

The 12-cylinder, 444-horsepower Phaeton is as grand a piece of engineering decadence as you'll find anywhere.

Much of the Phaeton's bone and sinew — such as the optional 6.0-liter W-configured 12-banger, four-way adjustable pneumatic suspension, steering, brakes and electronic systems — are shared with its VW Group cousins the Bentley Continental GT and Flying Spur and the Audi A8L W12, supercars all.

But it's not the heavy hardware that makes the Phaeton so beguiling. It's the grace notes: The ghostly smooth motorized action of the walnut panels that open and close over the dashboard climate vents; the corporate jet interior, with chrome pin-striping and Italian leather upholstery; the sunroof spoiler that adjusts to prevent high-speed buffeting and wind noise; the dual-magnification vanity mirrors; the 18-way power adjustable driver seat with heating and air-conditioning, massage function, power lumbar support and headrests.

And now the Phaeton is a phantom.

Last year, VW announced it was discontinuing sales of the Phaeton in the North American market (the car is faring reasonably well in other global markets).

Initially projected to sell in the range of 10,000 units in the U.S. annually, the Phaeton found only 820 customers in all of 2005. The last few units are making their way to reluctant dealers about now.

Well, of course it was a flop, goes the conventional wisdom. Who ever heard of a $100,000 Volkswagen? Plainly, the American conception of the VW brand — formed in the postwar decades by such lovable, low-rent models as the original Beetle, Rabbit and GTI — could not be stretched to include a premium saloon competing with the likes of Mercedes-Benz, BMW and Audi.

The Phaeton will make another kind of history, as the best used-car value ever. Low-mileage V8 models are selling for under $50,000.

You would be hard-pressed to find any car for that money with half so many amenities, so many finely curried surfaces, so many strokes of technological lightning, so much will and passion distilled into steel and aluminum.