Huffpost Money

1928 Mercedes Benz S-Type Left In Garage For 60 Years Could Fetch $2 Million At Auction

Posted: Updated:
1927 MERCEDES BENZ
A 1928 S-Type Mercedes Benz, pictured here, will be auctioned off in Britain after being holed up in a family's garage for more than 60 years. | Barcroft / Landov

One British man is about to come into big money thanks to a dusty old artifact stowed in his garage.

The unidentified man recently discovered a classic S-Type Mercedes Benz that was originally purchased by his grandfather had been sitting in his garage since the 1950s.

The car will be sent to auction on Sept. 15 and is predicted to sell for at least 1.8 million euros ($2.3 million), according to The Sun

First produced in 1928, the car can reach 100 mph, which made it one of the fastest in the world at the time of production. It is in perfect working condition, according to Bonhams, which will handle the auction.

The fact that the vehicle has only had one owner makes it even more valuable. A spokesman for Bonhams told The Sun, "Motor cars of this type and age have rarely been in the same family ownership from new."

In an industry based on nostalgia, some classic cars are a real investment while others are simply old. As a recent New York Times article notes, some approach car collecting like a financial portfolio, while others collect simply because they enjoy looking back in time -- a hobby that can create a classic money pit.

Famous collector Harold LeMay's holdings of more than 3,000 cars were worth an estimated $100 million, but only a fraction of the vehicles were deemed worthy enough to be put on display at his eponymous automotive museum.

As for the British man's Mercedes, "It has literally been off the radar," Rupert Banner, an automotive expert with Bonhams told The Sun. "No one knew such an untouched and archaic this old existed. It is an incredible find."

Around the Web

ClassicCars.com: Thousands of Classic Cars and Muscle Cars for ...

AutoTrader Classics - Buy & Sell Antique Cars, Classic Cars, Muscle ...

ClassicCar.com > The number one classic cars site since 1996 + old ...

Country Classic Cars L.L.C. - Antique and Collectable Cars and ...

Vintage Merc left in garage for 60 years up for grabs at 1.5m pounds

'Lost Mercedes' goes on the block in England today