Bugatti Salvaged From Lake Makes $368,320, Three Times Estimate

FROM BLOOMBERG:  A wrecked 1920s Bugatti sold at a Paris auction last night for 260,500 euros ($368,320). Bidding was encouraged by the car’s history: It had spent more than 70 years sitting at the bottom of a Swiss lake.

The 1925 Brescia Type-22 fetched a hammer price of 230,000 euros. Its total price with commission was about three times its minimum estimate of approximately 90,000 euros. The roadster had been abandoned by its owner in 1936 and was pushed into Lake Maggiore by Swiss customs officials.  MORE»