It was only last month when a 1957 Ferrari’s 250 Testa Rossa, was auctioned for a whopping U.S. $12.2 million which was acclaimed as the world’s most expensive auction of a car ever.

But this record will soon be broken when a 1936 Bugatti Type 57C coupe would also be auctioned speculate the auction pundits. This classic French machine, could fetch more dollars in millions than the 1957 Ferrari 250 Testa Rossa did when it will be up for sale at the Gooding & Co’s auction in the Pebble Beach Concours d’Elegance scheduled to be held this August.

This 1936 Bugatti Type 57C coupe was built as a gift for Ettore Bugatti, the founder for Bugatti cars. It has been preserved in excellent condition by the Bugatti factory which took pains to maintain the car at all times including WW II. When Ettore died in 1947, the factory took over the maintenance of his favourite car which was sold off in 1950. Since than the car has not undergone any changes.

The Type 57C were built between 1937 to 1940 and only 750 units of them were produced. Type 57Cs were fitted with 3.3 litre engine which produced 160hp with a Roots type supercharger fitted into it.

The Gooding Auction will also put many other race cars on the auction trail from the collection of Don Lyons, including the 1967 Gurney Eagle Indy car driven by the legendary Denny Hulme and Mario Andretti’s Lola Indy car.

Bugatti, which was until now known as the World’s fastest car would have a new tag of “The most expensive auctioned car” added to it when the auction takes place in August. But it is still wait and watch until the event happens.