A rare Bugatti car was plucked from lake after 70 years. It fetched $376K at auction and the new owner is going to put it on display rather than restoring it.
The rare 1925 touring Bugatti was pushed into the water by a frustrated tax official in 1936 after the owner abandoned it in Switzerland without paying the appropriate import tax.
Because the value of the car was less than the money owed, the customs officer was duty bound to destroy it - and decided to push it into Lake Maggiore.
Then, in 1967, the car was re-discovered by a diver, Ugo Pillon, who was curious to find out if there was any truth to the story.
He found the Bugatti lying on its side over 160ft below the surface and from then on members of the local diving club regularly visited it.
It was brought back up to the surface in July of last year by the club to raise money to fund a charity which addresses juvenile violence. It was founded after a fellow diver died after being beaten up by three youths.
The 1925 touring Type 22 Bugatti was built in Brescia in Italy and was first registered in Nancy, France. A small brass plate found on the car bears the name 'George Nielly, 48 Rue Nollet, Paris'. It was registered in his name in 1930.
The car had four cylinders, a 1.5 litre engine and could reach almost 100 miles an hour. It was a two-seater with no roof and was very light.