Just 48 Type 57s were built before World War II, and it has since become one of the most sought-after classic cars.
All are unique to some extent, and the one coming up for auction was equipped with a body designed by famed coachbuilder Vanden Plas.
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The 1937 Bugatti Type 57S Sports Tourer is one of 48 Type 57s built. (Bonhams)
It was originally shipped to New York and reportedly featured in the September 1937 event at the now-defunct Roosevelt Raceway in Westbury on Long Island.
The importers were unable to find a buyer for it, however, and it was shipped to the U.K., displayed at the 1938 British Motor Show and sold to an English owner whose identity has been lost to time, according to Bonhams.
The car has a 3.3-liter V-8. (Bonhams)
After that, it disappeared during the war, possibly having been transferred to Paris and put into hiding. But it reemerged for sale at a car dealer in Surrey, U.K., and was registered for road use in 1947.
The car was fully restored to factory condition in 1985. (Bonhams)
It was then sold to a man named Jack Robinson, who shipped it to Trinidad and had it updated with a supercharger for its 3.3-liter V-8 and other racing equipment for use in competition on the Caribbean island.
"After its restoration, Robinson made the XK120 Jaguars pay dearly at the Trinidad Aerodrome, where he reached speeds of more than 180 km/h," Robinson told the magazine Bugantics in 1952.
Robinson sold it in 1985, and its new owner returned to England and had it restored to its factory condition, including the return of several original parts, such as the crankcase.
A side view of the Bugatti. (Bonhams)
Bonhams has put a pre-auction estimate of $10 million to $12 million on the classic. The high end of that range would surpass the $10,345,000 paid for a 1937 Bugatti Type 57 Atalante Coupe at the Pebble Beach auctions in August.
Both pale in comparison to the reported price paid in 2010 for an even more rare 1936 Bugatti Type 57 Atlantic coupe that was allegedly sold, not auctioned, for between $30 million and $40 million.