1926 Bugatti Type 37 Grand Prix
Courtesy of Gooding & CompanyA 1926 Bugatti Type 37 Grand Prix that was under the stewardship of the late Peter Larkin, an award-winning set designer, for more than 60 years, sold for $935,000 last week, setting an auction world record for the model.
Larkin, who won four Tony Awards for designing scenes for Ondine, The Teahouse of the August Moon, No Time for Sergeants, and Inherit the Wind, in the 1950s when he was still in his 20s, bought the race car in 1960 for a mere $2,000, according to the auction house Gooding & Company.
The car had a presale estimate of between $650,000 and $850,000.
The rare 1926 Bugatti was the subject of a 1962 New Yorker magazine story, because Larkin, who at the time lived above Pete’s Tavern on Irving Place in Manhattan, had placed it on his terrace. “I was stuck with finding a winter storage space,” he said in the article, titled “The Bugatti Upstairs.” So he and his friend “took it apart, piece by piece, lugged it up the stairs, and more or less put it together again.”
The car was eventually taken back down and reassembled. Larkin drove it all over until he was 90 years old. He died in 2020 at age 93.
The car, with chassis number 37227, was originally delivered to René Bacon, a wealthy businessman and racer in the city of Luxey in southwest France in December 1926 for 46,400 francs, according to Gooding & Company.
Other prominent owners include the famous driver Count Stanislaw Czaykowski, a well-known Bugatti privateer driver—meaning he was not sponsored—who was born in The Hague in 1899, as well as Ernest Friderich, an engineer and racer for Bugatti who was based in Nice, the auction house said.
“This is an extremely special Type 37 with a great story," says Angus Dykman, specialist at Gooding & Company. "It is rare that cars like this come up for sale, so it was not a huge surprise that it garnered a ton of interest at our Geared Online: Scottsdale Edition sale and achieved a record price for the model.”
The top lot of the Gooding & Company online auction was a well-preserved 1966 Ferrari 275 GTB Long Nose, fetching $1.936 million. However, a rare hybrid-powered Koenigsegg Regera that had the highest presale estimate—between $2.75 million and $3.5 million—failed to find a buyer.
Gooding & Company’s next online-only sale, The European Sporting & Historic Collection, will begin this Thursday, Jan. 28.
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January 27, 2021 at 05:51AM
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Award-Winning Set Designer Peter Larkin’s 1926 Bugatti Type 37 Sells for Record Price - Barron's
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