Is it me, or do luxury cars and antique luxury cars keep getting more expensive? Exotic and luxury cars represent a market that consistently surprises, like with the recent sale of a 1936 Bugatti Type 57SC Atlantic, for a staggering $30-$40 million.
While the auction house and broker, Gooding & Company is mum on the matter, reports place the transaction for the antique Bugatti between $30-$40 million. I am searching the Rolodex in my brain for a car that has sold for more. If reports are accurate, this buries the previous record of the 1957 Ferrari 250 Testa Rossa last year.
This 1936 Bugatti Atlantic was one of just 4 made, which definitely makes sense on the supply and demand end of this over-the-top transaction. Common sense tells me that cars, even exotic cars, depreciate…and 1936 was a very long time ago. This buyer is obviously the biggest fan Bugatti has out there! Something tells me he does not intend to turn it into a luxury rental car.
Previously the flagship of the Williamson Bugatti Collection, this antique Bugatti is obviously still in good shape for a senior, as it took Best in Show at the 2003 Pebble Beach Concours d’Elegance. I am impressed.
Gooding & Co. say the Bugatti 57SC was derived from the Aerolithe Electron coupe prototype, and the result has been revered by exotic car enthusiasts across the globe. Well, this buyer, who is so far anonymous, is certainly an enthusiast! Right now I am trying to decide how many exotic cars I could buy with $40 million to add to our luxury car rental fleet…I would say nearly a hundred. So this person invested the cost of approximately 100 luxury cars (and I am talking Ferrari, Lamborghini, Aston Martin) for one old Bugatti. What do you think of this move?
Post by Imagine Lifestyles Luxury Rentals