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Australian billionaire businessman and politician Clive Palmer is set to exhibit six of his finest rare cars at a free annual motoring event.

The Noosa Concours d’Elegance, held on Hastings Street, is an opportunity for car enthusiasts to see some of the world’s rarest and most storied automobiles, including those from Mr Palmer’s private collection.

His prized 1935 Bugatti Type 57 Atalante, one of just three known examples built with Atalante coachwork, is anticipated to be one of the show’s biggest drawcards. Featuring matching numbers throughout and an extensive restoration, it stands as one of the most significant pre-war Bugattis in existence.

A 1935 BMW 315/1 Roadster, one of only 242 made and fully restored at a cost exceeding $1 million, and a 1911 Mercedes 50 HP Tourer, widely regarded as a rival to the famed Silver Ghost, will also be displayed.

Other ‘hot’ cars on show include a 1966 Mercedes-Benz 600 Pullman Limousine once owned by Hot Rod magazine founder Robert Petersen; a 1930 Mercedes-Benz 770 K Pullman Cabriolet, originally delivered to Iraq’s King Faisal; and a 1905 Eugene Brillie 20/24 HP, believed to be the only surviving example of its kind in the world.

Last year Mr Palmer won Best in Show with his 1938 Bugatti Type 57C Aravis Special.

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“The Noosa Concours provides a rare opportunity to share these remarkable vehicles with the public in one of the most beautiful settings in the country,” Mr Palmer said.

“These cars are not only mechanical achievements, they are historical artefacts, each with a story that deserves to be remembered.”

The Noosa Concours d’Elegance is on Saturday, July 19, with Hastings Street to be transformed into an open-air gallery of classic motoring. It also includes live music, entertainment and alfresco dining.

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