Rusted Bugatti fetches three times above estimated value at Bonhams

Andrea Divirgilio / January 27, 2010

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Well, of course there’s value in classics, but as far as this rusted Bugatti goes, it’s hard to swallow the fact in the first place that it’s been placed for auction. Having sat underwater at the floor of a Swiss lake for 70 years, this 1925 Bugatti Brescia known as the Lake Maggiore Bugatti carried an estimate of €70,000 to €90,000 ($98,000 to $127,000) however; the car fetched $366,500 at the Retromobile auction held by Bonhams. The proceeds from the auction go to the diving club that recovered the car from the silt to help a charity preventing youth violence. And for the wealthy car enthusiast who bought the rusted Bugatti, this for sure is more than the recovered rusted junk of metal.

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Via: NY Times/USA Today

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