http://news.bbc.co.uk/2/hi/uk_news/england/tyne/7807210.stm
Quote
A classic Bugatti car, which gathered dust in a Tyneside garage for almost 50 years, may fetch up to ?3m ($4.35m) when it goes under the hammer.
Relatives of reclusive Newcastle doctor Harold Carr found the 1937 Type 57S Atalante in a garage after he died.
Now the classic car, thought to be one of just 17 built, is to be sold by Bonhams in Paris next month.
It was originally owned by Earl Howe - first president of the British Racing Drivers' Club.
Dr Carr, a former army surgeon, left the contents of a lock-up garage to his family when he died in 2007.
As well as the Bugatti, his nephew also discovered a classic Aston Martin, and a Jaguar E-type in the lock-up.
The nephew, an engineer from Newcastle, said: "We just can't believe it.
"Of course we're delighted and we're going to make sure the money is shared out among the family. It's a wonderful thing to leave."
Earl Howe took delivery of the sporty two-seat Atalante after it was completed in 1937 and kept the car for eight years.
After Earl Howe sold it, it changed hands a couple of times before Dr Carr bought the car in 1955 from Lord Ridley, a member of the Northumberland gentry.
He drove the car for the first few years, but in 1960 it was parked in his garage where it remained until his death.
James Knight, international head of Bonhams' motoring department, said: "I have known of this Bugatti for a number of years and, like a select group of others, hadn't dared divulge its whereabouts to anyone.
"It is absolutely one of the last great barn discoveries.
"The Atalante is incredibly original and, although she requires restoration, it is 'restoration' in the true sense of the word.
"It offers a truly rewarding project to the new owner - who will join a select list of distinguished owners - to play such an integral part in bringing this wonderful motor car back to life."
The car has a remarkably low mileage with an odometer reading of just 26,284.
The Bugatti 57S is a highly coveted car by collectors, with at least four thought to belong to the Musee Nationale de L'Automobile in Mulhouse, France.
Others remain in the hands of private collectors.
How in the world does a fine auto like that just sit in a garage, collecting dust? :hammerhead:
Quote from: 2o6 on January 01, 2009, 05:37:16 PM
How in the world does a fine auto like that just sit in a garage, collecting dust? :hammerhead:
Well it seems like the good doctor drove it for a while, realized how worthless it was to drive, and then just left it.
Seriously it doesn't surprise me if most of the legendary collector classic of the past were a pain in the ass to drive.
This is not the first Type 57 to be found in a garage or barn...
This car should be left in "survivor" condition, imo.
yeah, an old Bugatti like that was recently unearthed in NY after sitting in a garage since the '60s. it got sold at auction in unrestored state, then kept that way (well, it was washed and made to run again).
(http://www.beloblog.com/ProJo_Blogs/carsblog/bugatti1.jpg)
And this is how the one in my post looked after it got washed. As you can see, there are still chips in the paint:
(http://farm4.static.flickr.com/3079/3156960061_4eb50fb45d_b.jpg)
Quote from: ChrisV on January 02, 2009, 08:03:57 AM
And this is how the one in my post looked after it got washed. As you can see, there are still chips in the paint:
(http://farm4.static.flickr.com/3079/3156960061_4eb50fb45d_b.jpg)
Needs a set of whitewalls or something.
Quote from: Psilos on January 01, 2009, 06:03:36 PM
This is not the first Type 57 to be found in a garage or barn...
One of the type-41 Royales was discovered in a long Island junkyard.
Quote from: Soup DeVille on January 02, 2009, 03:36:51 PM
One of the type-41 Royales was discovered in a long Island junkyard.
How did it survive in decent enough to be recognizable condition?
Why doesn't this every happen to me?
Quote from: the Teuton on January 02, 2009, 04:07:35 PM
How did it survive in decent enough to be recognizable condition?
It was discovered soon after WWII. It was the Fuchs Cabriolet, and is now on display at the Henry Ford museum.
Its also one of the big controversies among concourse crowds. When Mr. Chayne, who found it, restored it, he updated the brakes and carburetors so he could drive it more reliably.
I can't believe the family is selling it. If the guy wanted to leave his family 3 million pounds, he would have sold the car himself.
Quote from: BimmerM3 on January 04, 2009, 09:20:27 AM
I can't believe the family is selling it. If the guy wanted to leave his family 3 million pounds, he would have sold the car himself.
Some people just don't get cars.
For one thing, they can't be enjoyed if they just sit in your garage for 60 years. And they also shouldn't just be a way to make money. True car people understand those things.
Of course, if I found an old Bugatti in my grandfather's garage, I'd sell it. $3M is a lot. I'd never have to work again, and I could buy other, more drivable cars. ;)
Quote from: Psilos on January 05, 2009, 02:20:38 PM
Of course, if I found an old Bugatti in my grandfather's garage, I'd sell it. $3M is a lot. I'd never have to work again, and I could buy other, more drivable cars. ;)
I'm not sure if you would be able to retire and have a couple nice cars with $3M. I guess it depends on how old you are and where you plan to live. I don't think I could make it on $3M if I retired now.
Well, with investments and such...
I'm 24, and expect to see 80 at least. Let's say 60 more years. That's $50,000 per year, which is enough for me. If you can get a decent return on your investments, there's more to be had...
After taxes you would be looking at a lot less. I doubt it would be the equivalent tax rate of 60 years of salary @ 50K/year.
Quote from: Psilos on January 05, 2009, 02:20:38 PM
Of course, if I found an old Bugatti in my grandfather's garage, I'd sell it. $3M is a lot. I'd never have to work again, and I could buy other, more drivable cars. ;)
Three million is your "never have to work again" threshold?
Quote from: Tave on January 05, 2009, 06:48:44 PM
After taxes you would be looking at a lot less. I doubt it would be the equivalent tax rate of 60 years of salary @ 50K/year.
Yeah, true. Invest!
I know someone who's lived well for 20 years off $2M. I can live pretty cheaply, after some initial spending on cars and such. At any rate, if I had $3M, I'd try to never work again. I think after smart investing and maybe a small income from something I wanted to do anyway, I'd be fine.
Quote from: Raza on January 05, 2009, 06:52:45 PM
Three million is your "never have to work again" threshold?
Hell, one million would be plenty to invest and try to retire on... I can live pretty cheaply. :lol:
Quote from: Psilos on January 05, 2009, 06:58:09 PM
Hell, one million would be plenty to invest and try to retire on... I can live pretty cheaply. :lol:
I can live cheaply, but not when it comes to cars.
To live reasonably well & travel in your retirement you need about US$6m. Assume it yields 6% per annum, you'd get around $180k p.a. after taxes. 6% is a big assumption is this economy.
Quote from: Psilos on January 05, 2009, 06:58:09 PM
Hell, one million would be plenty to invest and try to retire on... I can live pretty cheaply. :lol:
Man, I could burn through a million dollars without even leaving the house.
Well, so could I. But if it was either that, or not have to work, I choose not working.
Quote from: Psilos on January 06, 2009, 09:00:44 PM
Well, so could I. But if it was either that, or not have to work, I choose not working.
I would just get a fun job.
Quote from: hotrodalex on January 07, 2009, 04:56:18 PM
I would just get a fun job.
I would just get jobs that would be fun to get fired from.
Quote from: Soup DeVille on January 07, 2009, 05:04:12 PM
I would just get jobs that would be fun to get fired from.
That would work too. :lol:
Quote from: hotrodalex on January 07, 2009, 05:24:55 PM
That would work too. :lol:
"Walmart Greeter" comes to mind.
Quote from: Soup DeVille on January 07, 2009, 05:25:47 PM
"Walmart Greeter" comes to mind.
I always wanted to be on of those birthday clowns. Speaking of which...
http://www.youtube.com/watch?v=xL4krZyIqgA
So this car sold for a nice chunk of change - 3.4 million euroes
http://news.bbc.co.uk/2/hi/europe/7876741.stm
Quote from: Raza link=topic=17035.msg961718#msg961718 date=1231206765
Three million is your "never have to work again" threshold?
If you can't live off three million then you have problems. I could make it off that EASY! Hell, I'll never have that.
Quote from: Onslaught on February 07, 2009, 11:42:45 PM
If you can't live off three million then you have problems. I could make it off that EASY! Hell, I'll never have that.
I agree. It seems most people here tend to think in terms of what they can buy first, then try to live on the remainder. I'm quite conservative in spending. I would arrange my life to live comfortably on the 3M, then when I wanted something "special" go to work to get the money.
Quote from: JWC on February 08, 2009, 08:29:46 AM
I agree. It seems most people here tend to think in terms of what they can buy first, then try to live on the remainder. I'm quite conservative in spending. I would arrange my life to live comfortably on the 3M, then when I wanted something "special" go to work to get the money.
I'd live in the same small house I have now. I'd keep my car and probably get something lice but nothing over what I could buy now with what I make these days.
All the rest would be saved so I could live off of it without fear of where my money is coming from. And I wouldn't have to work at the shit hole job I have now.
Quote from: Onslaught on February 08, 2009, 09:24:35 AM
Not likely then?
Perhaps. Then again, keep in mind that with a 3M+ nestegg, you don't have to do a job that you'd be able to live off of, since you can draw off your millions for that, which greatly opens your options. Just something you enjoy and can make a little cash with so you're not solely living off your windfall and to give you something to do. Something like JWC's photography gig.
$3million is a LOT of interest at $90k/ account in a lot of different banks' savings accounts...
As far as staying busy, every day I'd drive in my red 911 from bank to bank making withdrawls and going to other banks making new accounts...
Quote from: MX793 on February 08, 2009, 09:31:55 AM
Perhaps. Then again, keep in mind that with a 3M+ nestegg, you don't have to do a job that you'd be able to live off of, since you can draw off your millions for that, which greatly opens your options. Just something you enjoy and can make a little cash with so you're not solely living off your windfall and to give you something to do. Something like JWC's photography gig.
I was actually thinking of his photography business when I wrote that. I think it would be fun.