A $1 MILLION car formerly owned by actor Nicolas Cage will leave Geelong this week after being lovingly restored by a local company for six years.

Bellbrae Panels and Paint has been doing up the 1937 Series 57 Bugatti after it was bought from the Hollywood star by a Queensland car fanatic.

The car has a straight-eight super-charged motor and is now believed to be worth more than $1 million.

Restorer Graham Smith said he wanted to thank the tradesmen who had been involved in the long restoration process.

"We actually hand-made all of the panels on the car because they were all corroded; it has been so much work," he said.

Mr Smith said it would be hard to say goodbye to the car.

"You do have that gutted feeling because you've spent so much time on it and you are left with nothing," he said.

"But you know that these cars are like works of art. It's not like doing up a Holden, they are going to be around a thousand years from now."

He said the car was rare and was only sold to the wealthy.

"Bugatti was very eccentric, but his cars were light years ahead of their time," Mr Smith said.

The car will be displayed at the Winton Historic races before being delivered to its owner in Queensland.