As they say, the value of something is what you can get someone to pay for it. How else can you justify a $30 million price tag for a car? Well, the auction house, Gooding & Company, found just such a buyer for an extremely rare and collectable Bugatti. On May 5th, at an auction in California, an undisclosed buyer paid somewhere between $30 (135 crores) and 40 million (180 crores) for a 1936 Bugatti Type 57SC Atlantic. This makes the Atlantic the most expensive car ever to be sold at an auction by a long way – beating the previous record of $12 million (54 crores) paid for a 1957 Ferrari 250TR in 2009.

This 1936 Bugatti is the first of only three that were ever built, and is only one of two that still retain their original condition. The historic car has a 200 horsepower engine, and a top speed of 200km/h, which was very impressive in its day. In fact, many car historians consider it to be the world’s very first supercar.

Bugatti was founded in France by an Italian immigrant named Ettore Bugatti in 1909. Coming from a family of artists, Ettore’s creations were more works of art, rather than simply pieces of mechanical design. The company was known for the intricate level of detail in its engineering, and for its artistic designs. Ettore’s son, Jeane, is credited for being the mastermind behind the Type 57 chassis, and the styling concept of the Atlantic.

Jean was inspired by aircrafts of the day, and incorporated this into the teardrop shape of the Atlantic. He was also the first to introduce fins in automobile design. Furthermore, he incorporated an alloy of magnesium and aluminum into the wings of the Atlantic to make it lighter, as well as more aesthetically pleasing. Bugatti first showcased the Type 57 at the 1935 Paris Auto Salon.

This specific Atlantic coupe was the first production car built in 1936, and used the same parts as the prototype, which had been displayed in Paris. The first owner of the car was Lord Philippe de Rothschild of London. In 1939, the car was sent back to the factory to install a supercharger. After the Second World War, the car was brought to Los Angeles, and modified drastically. In 1971, Peter D Williamson bought the car at an auction for $59,000, and he spent many years trying to restore the car to its original 1936 condition.

The Atlantic is certainly one of the world’s most historically significant and valuable automobiles on the planet, and it was also winner of the 2003 Pebble Beach Concours d’Elegance Best in Show, which is one of the many reasons for its outrageous price tag. But, if you can spare $30 million…