Good Find Friday features interesting vehicles we’ve found for sale while conducting market analysis or appraisal research. They are not for sale by Wolf and Mare and we have no business relationship with the sellers. We just think they’re worth learning about and sharing with our readers!

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For the last week or so I’ve been enjoying perusing the catalog for RM Sotheby’s 2025 Monaco auction, as it includes some very unusual and intriguing consignments. I love it when a high-profile auction features at least one vehicle I’ve never heard of, and this year’s Monaco sale has one. Understandably overshadowed by the wild 1990s mid-engined Bugatti EB110, this week’s feature car may be a compelling lesson in rarity not necessarily translating to desirability in the marketplace. In this week’s Market Monday, I’m highlighting the upcoming sale of a Bugatti EB112.

The modern Bugatti revival began in 1987 when Romano Artioli acquired the rights to the Bugatti brand, which had remained dormant for decades after its mid-20th century decline. This period of inactivity created a clear opportunity to reintroduce Bugatti as a high-end performance marque. Artioli established Bugatti Automobili S.p.A. and built a purpose-designed factory in Campogalliano, Italy, assembling a team of experienced engineers and designers to develop a new flagship supercar.

That effort led to the launch of the Bugatti EB110 in 1991, a technically advanced model that defined the brand’s return to production. Despite its innovation, total production remained limited through 1995 due to high development costs and a relatively small global market for supercars.

The company’s financial position weakened as the early 1990s recession reduced demand for high-end performance cars, while Artioli’s expansion strategy, including the acquisition of Lotus, increased financial strain. These combined pressures led Bugatti Automobili S.p.A. to declare bankruptcy in 1995 after producing just over 100 vehicles. Although the company ceased operations, the Bugatti name retained strong brand value, making it an attractive acquisition target. In 1998, Volkswagen Group purchased the Bugatti trademark and associated assets, moved the company back to its native Molsheim, France and used its substantial resources and long-term strategy to relaunch the brand as a modern ultra-luxury performance manufacturer.

An oft-forgotten vehicle to come out of Artioli-era Bugatti is the EB112. Artioli had big plans for Bugatti, envisioning expansion beyond the EB110 to 4-door saloons and commissioned Italdesign to develop the concept for such a car.

The styling is — and was at its debut in 1993 — controversial. Developed by Giogetto Giugiaro, the design is evocative of legendary Bugattis like the Type 57C Atlantic and Type 55. Of course, it features the iconic horseshoe grill. The swooping aluminum body covers a carbon fiber monocoque evolved from the EB110, which was pretty incredible technology for the early 90’s.

A luxurious interior was a priority for the design team. The Geneva concept car’s interior was draped in beautiful tan leather with walnut trim highlighting the instrument panel, center console and door panels. The car on offer by RM Sotheby’s features high-quality black leather accented by engine-turned aluminum trim, which is quite fetching. The rear compartment features a full-length center console with an embedded entertainment center.

Motivating all this luxury was a naturally-aspirated V12 engine that produced 420 hp and 590 Nm of torque, the latter at a low RPM. Incredibly, this powerplant managed to motivate this plush sedan to 100 mph in just 4.3 seconds. A 5-speed transmission with four-wheel drive applied traction to all corners with a 38%/62% rear torque split. Amazingly, the concept was effectively a fully functional car able to drive itself onto its display stand.

There are just three Bugatti EB112 vehicles in existence. Though the concept car was built in the La Fabbrica Blu factory by assembly line workers, it was not a production vehicle. Sadly, the car never went into series production due to the bankruptcy of Bugatti Automobili S.p.A. Apparently, there were three unfinished EB112 chassis and a number of spare parts included in the company’s liquidation.

Businessman Gildo Pallanca Pastor purchased some of the company’s assets, which included the aforementioned components. Two additional EB112s were constructed using these components, with one finished in black and the other in an anthracite gray. The original concept belongs to Italdesign, while the anthracite car is in a private collection.

Today’s car, then, is Gildo Pallanca Pastor’s personal vehicle and the catalog description provides confirmation of this as well as a little more detail on its life under his care.

Obviously, comparables for such a car are pretty much non-existent. A German collector car dealer named Schaltkulisse listed the anthracite-bodied car back in 2021, and rumors are that it was purchased by a Russian collector for an undisclosed sum. RM Sotheby’s has estimated their consignment’s sale price at €1.5-2M, which is likely based on parallel comparables of similar Bugatti vehicles and one-off prototypes from other makes.

As one of 3, and a concept car at that, the EB112 is one of the rarest Bugattis that money can buy. However, the polarizing design of the EB112 may limit demand from the market. I can’t see this characterful vehicle pulling in Type 57C money at any point in the future, but its exclusivity and familiarity among the wealthy residents of Monaco will likely result in a consummated sale.

If two wealthy and committed Bugatti collectors collide, we could see a price much higher than the house estimate. This will be one to watch for sure!

Have a great weekend, everyone!

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