This car, Lot 49P, sold for $1,380,000, including buyer’s premium, at Bonhams Cars’ Scottsdale, AZ, auction, on January 25, 2024.
The Type 57, made between 1934 and 1939, was the ultimate Bugatti road car. The engine was a 3.3-liter straight-8 with twin overhead cams that delivered silky-smooth power with bags of torque. Despite a hefty price tag in a time of economic uncertainty, it sold reasonably well, with about 710 chassis built.
Rolling chassis could be supplied for specialist coachbuilders such as Gangloff and VanVooren, but Bugatti also made bodies in-house to its own design. The Atalante was one such, designed by Ettoré Bugatti’s young son, Jean. The 2-seat coupe was a chef-d’oeuvre, a masterpiece, but not very practical. A lack of soundproofing and plenty of heat emanating from the powertrain in the Atalante’s confined cabin limited the potential client base, especially in a time of perceived austerity. The result was only 33 Atalantes produced on the standard chassis, with a further 17 built on the lower and shorter “S” chassis.
This Bugatti, chassis 57432, is one of 10 Atalantes made by the factory as a “faux cabriolet.” This translates to “fake convertible,” and in retrospect, the appellation could have been worded more elegantly. The roof features a full-length fabric sunroof that ends on the rear deck. It should have been a good idea, but it wasn’t. The resulting lack of rigidity to the side panels (and inherent water leaks) was not appreciated. So most faux cabriolets were subsequently given a full metal jacket. But times change, and as these cars have now become fair-weather transport, many are being converted back to their original specification. This car is one such example.
A loved Bug
Our subject car has an astounding documented history and was obviously cherished by its long list of owners. It could likely be the most traveled Type 57 in existence, and even survived a lengthy stay in Africa. But this had its cost, especially during a time when originality was not valued.
By the late 1940s, Bugattis were sometimes scrapped. The mechanics were complicated and the parts either expensive or not available. Only a few aficionados bothered to keep them running, but fortunately, many just slept in the corner of a garage. The owners of this car elected to keep it running, and that’s where things get complicated.
The easiest thing would have been to drop a modern engine and gearbox into the car, but there was another authentic solution. The Bugatti factory was in Eastern France, near the German border. In early 1939 there were some very chilly political winds blowing across the frontier. Bugatti closed shop and moved all its stock of parts to a warehouse at Bordeaux in Southwestern France. And it proved to be the right decision. Everything was saved. After the war, a few cars were built using Type 57 parts, and were sold as Type 101. But there were still plenty of leftover spares.
When a new owner acquired this car in 1948, he apparently purchased an unused engine and gearbox from the Bugatti stock and installed them. But this logical decision would prove regrettable in later years. Bugattis have a chassis plate on the firewall, but no number stamped directly on the chassis. However, the engine’s serial number is stamped on its left rear mount.
The new engine was numbered 547, and for some reason, the car was subsequently registered as chassis number 547. Engine 547 originally came from another car, contradicting the idea that it was “New Old Stock.” None of this really mattered at the time, as the Atalante was simply a used car of no great value. It continued to change owners regularly and received several half-hearted restorations.
This was to change in 1988, when the car sold to a wealthy collector, who proceeded to do things properly. The roof was put back to original configuration, and the crankcase renumbered to 315. The chassis plate was changed again to read 432. In reality, the plate should read 57432, and this number should also be stamped on the crankcase.
Originality matters
Bonhams Cars’ sold our subject car for $1,380,000, including premium, however no duty was paid on the car, so if it stays in the U.S., it will incur a further $35k in fees. As few as 20 years ago, its messy story would not have had much effect on value. But that was then, and this is now. As prices have risen, originality has become increasingly important. The numbers story contributes to a 30% value deduction; many potential buyers will have simply walked away. Good driver condition is also not acceptable for Pebble Beach. So, the car was sold on the money, possibly for even more than expected. ♦
(Introductory description courtesy of Bonhams Cars.)
