If you though the Ferrari 250 GTO was expensive at $20 million, you'll be amazed to know someone has paid more than USD $30 million for a 1936 Bugatti Type 57SC Atlantic. Officially making the Bugatti the most expensive car in the world.
With only three of the model ever produced the 57SC is by all accounts one of the world's rarest vehicles and as such commanded the unbelievable market price. The Bugatti came on sale following the death of its owner, Peter Williamson, a renowned car collector.
The auction took place in California at a Santa Monica auction house. As well as keeping the buyer's identity private, auctioneers Gooding & Co refused to confirm the exact final price of the vehicle but reports suggest the Bugatti had sold for between $30-40 million US dollars.
Some media organisation quickly claimed the car would be located to Mullin Automotive Museum, a California car-collection back by Peter Mullin but the museum quickly denied it had possession of the car but did say it was in talks with the new owners to have the Bugatti displayed to the public.
Classic and rare cars have become a form of safe financial investments with many ultra-wealthy individuals now seeing them as the safest bet for large investments, given the unpredictable financial markets.
Australia's own classic cars are also in demand with examples such as a 1971 Ford XY Falcon GT HO Phase 3 valued around $260,000-$320,000.
Source: Guardian UK