Video: Barrett-Jackson buyer reneges on $700,000 Bugatti Veyron purchase

It's not very often you see a Bugatti Veyron going up for auction...especially at Barrett-Jackson. Perhaps better known for their muscle cars and classics, the occasional late-model sportscar will sometimes pop up, but we can't ever remember a Veyron crossing the block. Well, on Saturday night, a 2008 Bugatti Veyron with 11,800 miles on the clock did indeed cross the block at B-J...but things didn't go quite as planned.

The one-time fastest production car on the planet (it's been trumped by Bugatti's own Super Sport) might have sold for over $1.8 million new, but was struggling to break the 1 mil mark in Vegas. Heck, it barely got to $700,000. Now, that's still a lot of money for a car, but it should have brought much more – we've never heard of a non-wrecked example going for anywhere near that little. In the end, the Bug went to a guy seated near the stage who outbid a couple of phone bidders – but that's when it got weird.

Saying that he hadn't actually bid and then that he was only trying to help, the would-be buyer rescinded his bid... and was promptly escorted from the premises. Barrett-Jackson didn't want to lose any credibility – so CEO Craig Jackson stepped up and bought the car himself. Just as he was announcing what had happened, he got a phone call from one of the other phone bidders who was saying he'd take the car off Craig's hands. Quite the little soap opera, but good theater nonetheless. Follow the jump to see the video and take a look at the gallery below as well. Hat tip to Larry!

[Sources: Speed TV, Barrett-Jackson]

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