Bugatti Found

Remember last year there was an email circulating that was another "urban legend" and dealt with a multitude of classic autos being discovered in a locked building. The photos showed all these rare autos packed into the cement storage area. The actual truth was explained on our blog.

Here is a story that has far more credible sources. Seems this older gentleman stored a dusty auto in his garage. Upon his death, they found a rare Bugatti. Auction price next month is estimated at over 4 million dollars! Not bad for a dusty old car that needs major renovations.

This story is from MSNBC in case you missed the details.

LONDON - It was the equivalent of finding an old Picasso or an unknown Beatles tape hidden away in your uncle's attic.

Relatives of Dr. Harold Carr found an extremely rare 1937 Bugatti Type 57S Atalante — a Holy Grail for car collectors — as they were going through his belongings after his death. The dusty two-seater, unused since 1960, didn't look like much in the garage in Gosforth, near Newcastle in northern England.

But only 17 were ever made, and when it's cleaned up and auctioned in Paris next month, experts believe it will fetch at least 3 million pounds ($4.3 million) and possibly much more. Bugatti once represented the height of motoring achievement. The supercar was so ahead of its time it could go up to 130 mph when most other cars topped out about 50 mph.

This particular car is even more valuable because it was originally owned by Earl Howe, a prominent British racecar driver, and because its original equipment is intact, so it can restored without relying on replacement parts. It has just 26,000 miles on the clock.

Owner described as eccentric hoarder". It has all the finest attributes any connoisseur collector could ever seek, in one of the ultimate road-going sports cars from the golden era of the 1930s," said James Knight, head of the international motoring department at Bonhams, which will auction the car Feb. 7.

Knight and a small number of Bugatti enthusiasts knew of Carr's proudest possession, but not the eight relatives who inherited Carr's estate.

The orthopedic surgeon, who died at age 89, was described by relatives as an eccentric hoarder who never threw anything out. He also left behind an Aston Martin, which was sold, and a Jaguar sports car that was scrapped because it was in such poor condition.

The Bugatti marque is famed for its speed and handling and was a frequent race winner in the 1920s and 1930s. The 57S Atalante was one of its most successful models, each one made by hand with unique details.

The company founded in 1909 by Ettore Bugatti collapsed in the 1940s after a long string of racing victories. The rights to the legendary Bugatti name were purchased in 1998 by Volkswagen, which has built the Bugatti Veyron, one of the world's fastest and most expensive cars.

Dan, are you interested in phoning in a bid? It would look great beside your classic BMW! Let me know.