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May 24

Barnfind Bugatti Makes Over Seven Times Low Estimate at Bonhams Austrailia Auction

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Monday, 15 November 2010 14:54

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On Saturday (13.11.10) a packed saleroom in Sydney witnessed spirited bidding on a number of motor cars at Bonhams Collectors’ Motor Cars, Motorcycles and Automobilia auction which made a total of AUS$1,180,583.   The highlight of the sale was the 1926 Bugatti Type 38 restoration project – completely dismantled, incomplete and lacking engine and body – which realised $110,400 (£68,000), some seven times it’s pre-sale auction estimate. Seven telephone bidders fought against six absentee bids and five people in the room with a northern hemisphere telephone bidder victorious. When Robert Glover, Bonhams Head of Motor Cars Australia, informed the lady owner how much the car sold for there was a stunned silence followed by a tearful thanks.

And Britain had success on Australian soil – perhaps an omen for the upcoming Ashes cricket series – with a 1925 Bentley 3-litre Speed Model VdP Tourer and an ultra rare right hand drive 1949 Jaguar XK120 Alloy roadster selling very well at $329,500 (£203,000) and $249,200 (£154,000) respectively.

Over 75% of the lots offered in the Automobilia and Motor Car sale found new homes with buyers from the USA, UK, France bidding against the home market.

Robert Glover said, “Given the strength of the Australian dollar against other world currencies we were pleasantly surprised by the level of overseas bidding at the sale. Whilst the Australians often won out, it clearly demonstrates the reach and importance of Bonhams global motoring network.”