Bugatti sold for record 27 million pounds

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The new owner of a Bugatti 57SC Atlantic will be looking for the best priced car insurance policy they can find after buying the vintage car at auction in the US.

The classic car, which was sold to a private buyer for between $30 million (£20 million) and $40 million (£27 million) after it went under the hammer in California, emerged as the most expensive used car in the world.

The auction was organised by Gooding & Company of Santa Monica.

The 1936 Bugatti 57SC Atlantic was built by the Italian manufacturer, and it is one of the only three examples of the model.

Now only two examples remain, fashion designer Ralph Lauren owns one of the others.

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