Going, Going, Gone. For Half

Bertel Schmitt
by Bertel Schmitt

The “barn find” of a 1937 Bugatti Type 57S Atalante, that was thought to fetch $8.7m, finally went under the hammer at Bonham’s in Paris. According to the BBC, “it eventually sold for 3,417,500 euros.” At today’s rate, that’s $4.4m . . . about half. Even barn finds don’t keep their residual value as much as they used to.

Bertel Schmitt
Bertel Schmitt

Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.

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  • JEC JEC on Feb 08, 2009

    Bargain. Now the owner can use the 4 mil he saved to restore it. Although that might not cover it.

  • Don1967 Don1967 on Feb 08, 2009

    What was this thing worth new? Assuming $2,000 in 1937 (a wild guess on my part), the $4.4mm price tag today adds up to an annualized return of about 11%. That's about the same as a good stock certificate, only more difficult to carry in your pocket.

  • Ronnie Schreiber Ronnie Schreiber on Feb 08, 2009

    It's relatively low mileage, 99% original condition. I think it'd be a shame if it's restored. Just clean it up, get it running, maybe new upholstery. Things are only original once.

  • Pista Pista on Feb 09, 2009

    @ dgduris The Bug was easily prettier than the Bentley [but, then, compare their prices new].

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