Saturday, January 3, 2009
The $8 Million Ugly Car Auction
On February 7, 2009 there will be an exciting Bonham’s Retromobile auction and a 1937 Bugatti 57S will be among the cars represented. Dr. Harold Carr, bought the Bugatti 57S over 50 years ago as an investment, and it is expected to bring $8 million at auction – unrestored, but with pedigree papers.
Just the other day, I got an e-mail from a relative, who was lamenting over a depleted 401k.
“40 years ago, I should have been buying 1957 Chevrolet convertibles and extending the garage” he said. “I would have made money on my investments.”
“Yes,” I said, but it’s all guess work. “I used to have a 1984 white Buick Regal with T-tops that looked like an albino Grand National, but at least it was pretty. I held on to it for 20 years and only got $300. My original investment was $12,500. Who’s going to buy classic cars during a recession?”
Anyway, this auction is going to be interesting. I want to know who coughs up the $8 million for an ugly Bugatti needing a face lift. The thing was so ugly that the owner quit driving it after only 26,284 miles and stashed it in the garage. I don’t know many people, who could pick up a date in a car like that either. It has a face and body only a mother could love. You’d have to sneak it out of the garage in the middle of the night to go joy riding. If the police ever spotted it in broad daylight, you’d be profiled for sure. Either that, or they’d think you were recycling stolen automobile parts, like in the “Body Snatchers.”
You definitely wouldn't want it in your passport photo and just like a painting, if you stand and look at it from a distance, it makes you want to install "Moms Mabley" vanity plates and a Pigmeat bumper sticker.
I asked someone what the “S” stood for in 57S and was told either "surbaissé," which means lowered, or “sport.” Well, it’s not on the lower side of $8 million, so I guess it means sport. A bloke would have to be a sport to bid in this auction.
The modern Bugatti is much more appealing, yes?