A Bugatti Veyron built by Oakley Design and tuned to 1,200 horsepower sat unwanted in the back of a Dubai showroom because of serious mechanical problems. Mat Armstrong, who had encountered the same issue on his own Veyron, bought the one-off anyway for roughly $1.3 million after shipping and import duty.
A Veyron Nobody Wanted
The one-off Veyron featured a lighter carbon body and a very loud paint job, but its condition made it difficult to sell. The car had a non-start fault, while its gearbox would only work occasionally, and nobody local in Dubai was willing to take it on.
Armstrong, however, had already dealt with the exact problem on his first Veyron. He flew to Dubai, spent about twenty minutes looking over the car and decided to buy it despite the risks.
Once shipping and import duty were included, his total investment came to roughly $1.3 million.
Why Pay Bugatti Thousands When $50 Does the Trick
Before the Veyron left Dubai, the company preparing it for its flight recognized the car from Armstrong’s YouTube channel. They had seen his earlier diagnosis of the exact same fuel hose failure on his first Veyron.
Based solely on the video, the company replaced the hoses themselves at no cost. However, the repair used the wrong hose clamps, and the Veyron failed again within minutes of arriving in the UK.
Armstrong repaired the problem again, this time using submersible fuel hose he already had from a previous repair.
Other repairs were similarly inexpensive by Bugatti standards. Armstrong used a $14 ignition switch from a Volkswagen Transporter, hood struts from a Tiguan, a $4 resistor and several other inexpensive parts. His total repair spending came to roughly $54.
Dealer Values the Veyron at About $2 Million
After sorting out the electronics and reinstalling the original wheels, Armstrong took the Veyron to luxury and exotic car dealer Tom Hartley for a valuation.
Hartley knew the car’s history dating back to 2006 and confirmed that there was no accident record beneath the problems. He valued the Veyron at £1.5 million, or roughly $2 million, in line with Classic.com values for the Veyron.
That valuation gave Armstrong a theoretical margin of around $600,000 over his all-in investment.
Armstrong Has Yet to Decide What Comes Next
The margin is significant for a car that even the dealer had been reluctant to sell because of concerns that it could damage his reputation. Armstrong has not decided whether he will keep the Veyron, sell it or simply hold onto it as the market moves.
For now, his garage includes two Bugattis that were bought and repaired at relatively low cost, turning a problematic one-off Veyron into a potentially valuable investment.
