The Lake Maggiore 1925 Bugatti Type 22 Brescia has achieved €260,500 ($516,000 NZ) at Bonhams Retromobile Sale in Paris. The Bugatti Type 22 that had lain submerged 53 metres below the surface of Lake Maggiore for over 70 years had attracted much pre-sale publicity (read story). A number of telephone bidders sparred against those in the room. The winning bidder – a European collector representing the Peter Mullin Collection in California – will show the car in its present condition in his museum, whereas the American underbidder had amazingly intended to restore the car.

A packed saleroom, surrounded by the cars on offer, witnessed over 70% of the lots on offer sell for a premium inclusive €6.72m total. An international audience participated in the room and from the large bank of telephone bidders. With the Euro remaining strong against UK Sterling, the Eurozone currencies were generally victorious. However, American bidders played a prominent part too, and a number of valuable cars are now destined for North America.

James Knight, Group Head of Bonhams’ Motoring department commented: The Lake Maggiore Bugatti was a tremendous result and I am pleased it has gone to a good home where it will be displayed in its present form.

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