Why a Peugeot for over seven million is cheap
USD 7.3 million (EUR 6.3 million, CHF 7.2 million) was paid by the buyer of a 1914 Peugeot L45 at the Bonhams auction of the Bothwell Collection on November 12, 2017 , making the racing car the most expensive Peugeot brand car ever traded at auction.
Why would anyone want to spend so much money on a car that is over a hundred years old?
Well, the buyer could give some really good reasons, because the L45 has an impressive racing history and features technology that was considered the blueprint for advanced high-performance engines for decades to come, developed by the best engineers of the time. The car is also unique today.
But the buyer could also argue quite differently. A watch would have cost twice as much. What is meant here is the Rolex Daytona from 1968, which Paul Newman once wore on his wrist.
It was worth USD 15.5 million to a collector at a Philips auction, more than any other watch at auction to date, and more than the Patek Philippe ref. 1518 Timepiece, which sold for USD 11 million some time ago.
A Rolex Daytona may be a beautiful watch, but it is not a unique piece, even if Newman, a great car enthusiast and also a fairly talented racing driver, wore it.
Seen in this light, the Peugeot L45 from the Bothwell Collection was really good value!
