This 5 litre 'Type 18' Bugatti 'number 471' appeared at Le Mans in 1912, driven by Ettore Bugatti, the company founder.
The car is to be auctioned by Bonham's in Reims on September 26, 2009, at the annual 'Weekend de L'Excellence Automobile' where it is expected to fetch over $3.4m.
The car is one of just three streamlined racers built by Bugatti and was previously owned by the Duke of Bavaria, who purchased it from Bugatti in 1914.
A previous Type 18 'number 474' sold for €2.4m in February 2009, some 20% more than the top estimate.