Bonhams is auctioning the silver trophy presented to the racing legend Sir Malcolm Campbell to commemorate his first world water speed record on Lake Maggiore.

The trophy was presented to Campbell for his history-making record speed of 126.33mph on September 1, 1937.

Sir Malcolm Cambell (1885-1948): breaker of numerous land and water speed records

It will sell as part of Bonhams' The Marine Sale. The collectibles and memorabilia auction will be held at New Bond Street on March 24.

The trophy - a waterline model of Campbell's single step hydroplane "Bluebird K3" - was awarded to Campbell by Lord Wakefield, the director of CC Wakefield and Co Ltd.

Lord Wakefield and his Castrol oil company keenly supported the era's motor and aviation development.

Campbell's historic trophy carries a pre-sale estimate of £35,000-50,000.

A racing motorist, and later a racing journalist, Campbell broke nine land speed records between 1924 and 1935. He was the first man to exceed 300mph on land in 1935.

Campbell went on to break four water speed records. His highest speed on water was 141.74mph in 1939 in a Bluebird K4 on Coniston.

Campbell's trophy is estimated at £35,000-50,000

By coincidence, this isn't the first Bonhams sale in recent times to evoke Lake Maggiore, in Italy.

Earlier this year, a Bugatti Type 22 which had lain submerged below the surface of Lake Maggiore for over seven decades went under the hammer at Rétromobile.

The Bugatti eventually sold for over two-and-a-half times its estimate: an incredible €260,500 over its estimate of €70,000-90,000.

Images: Bonhams