This panhard bar was recently removed from a car because the owner didn't want it in the car; their loss is your gain!
A panhard bar, or track bar, basically ties the rear end of the car to the chassis in a way that limits lateral movement of the rear end housing. This is helpful for race cars and other high-performance Bugeyes because it limits "rear steer", which may make the car feel unstable under high speed cornering conditions.
