subject: Classic Car News: Rare Bugatti Comes Out Of Hiding To Sell For £68,000 [print this page] Classic Car News: Rare Bugatti Comes Out Of Hiding To Sell For 68,000
Australia has been home to many impressive events, with the latest being the auction of a rare 1926 Bugatti Type 38 which was expected to fetch around 9,000, but instead raked in an amazing 68,000. The term restoration project' took a "whole new meaning when this rare classic went up for auction in Sydney", according to the Telegraph website, with the car itself being completely dismantled and lacking its engine and body.
With seven phone bidders, six absentee bids and five people in the Sydney auction room, it was a tense showdown, until a mystery bidder triumphed with a bid of 68,000. A fully restored Type 38 would be worth around 200,000, but the lucky owner has a lot of work to do before it reaches that kind of money.
The previous owner of this vintage motor found this expensive gem in a barn, and had no idea the loose collection of bits would amount to such a huge sum, and even shed a few tears as she thanked the new owner after a few moment of stunned silence.
The sale of this rare Bugatti, as well as many other classics that were sold at the auction, came more of a shock to Bonham's Head of Motor Cars Australia, Robert Glover, who said "given the strength of the Australian dollar against other world currencies we were pleasantly surprised by the level of overseas bidding at the sale".
In a bid to help classic car insurance customers find a competitive classic car insurance quote, Sureterm Direct are ready to compare their panel of insurers to give you the policy you want. Call free on 0800 999 2030 or click here for an online classic car insurancequote.
