Bugatti plucked from lake is worth £80,000

January 11, 2010 12:18 PM

A rare Bugatti car which has spent the past 70 years at the bottom of a lake in Switzerland is set to sell for £80,000.

The 1925 touring Bugatti was pushed into Lake Maggiore by an over zealous tax official in 1936 after the owner abandoned it having failed to pay the import tax.

Since then the rare Type 22 Bugatti has sat corroding 160ft below the surface of the water, only being visited by members of a local diving club.

But they have now raised the Bugatti which will go under the hammer at Bonhams… though looking at the fragile body-work we hop the don't hit it too hard.

Experts claim that 20 percent of the car is still salvageable - half of the chassis and most of the aluminium casings - meaning it is possible to save the car and return it to its original splendour.

It is expected to sell for around £80,000 with all money raised going towards the Damiano Tamagni Foundation which is based in Ascona.

A spokesperson for Bonhams said: "One of the most extraordinary lots ever to be offered at auction - a touring Bugatti which lay at the bottom of a Swiss lake for over seventy years – will also be going under the hammer at Retromobile.

"The Brescia Bugatti has inevitably suffered some damage during its extensive stay underwater.

"It could also prove to be a most interesting restoration project."