It has been some time since Australia saw half a million dollars realised on the sale of a local muscle car, let alone one of that rare-breed which in years past might have sold for more than a million.
Those cars will no doubt return to the market once the attractions of other investments such as shares and gold abate, because they are very much an investment rather than a lifestyle choice.
Buyers with less to spend still have plenty of choice, however, aided by the growing number of vendors adjusting to a tighter market and prepared to sell at prices that a year ago were considered unacceptable.
Looking at online-only site Collecting Cars, we saw a Porsche and Ferrari both sell at more than $500,000, but most successful bids on the site were below $50,000.
Standouts from the Collecting Cars list included a very scarce MA70 Series Toyota Supra Twin Turbo Targa. Having recently arrived from Japan and showing slightly more than 150,000km since new in 1992, it sold at $31,000.
Shadowing the Supra in price and style was a Hartge-enhanced BMW E30 sedan with 2.7-litre inline six-cylinder engine that is likely to be unique in Australia. Despite being liquidated in 2019, Hartge has a reputation for building feisty Bimmers, Minis and Range Rovers, and its uniquely-modified vehicles are considered collector’s items today.
Also just breaching the $30k barrier at $32,000 was an R129 Series, Hong Kong-delivered Mercedes-Benz 500SL from 1991. The R129 was the first Mercedes to feature a fully automatic, hydraulically operated fabric convertible top, and the 500SL packed a muscular 243kW 5.0-litre V8 beneath its elongated bonnet.
Moving to Melbourne, we found Donington Auctions’ new saleroom in Dingley Village brimming with interesting lots while a few suburbs away at Chicane Auctions was a smaller but still interesting selection.
Among the more fascinating Donington lots was one that ranks as the tiniest viable motor vehicle on the planet – as certified by the Guinness Book of Records – and on a dollar-per-kilogram basis, quite likely the most expensive.
The car in question is the single seat, three-wheeled, 50cc Peel P50 which was said to weigh just 135lbs (61.5kg), with this example being one of only 47 produced.
Peels originated on the Isle of Man during the 1960s and were described then as an ‘Urban Mobility Vehicle’. Donington’s offering, although not an especially good example, raced to a final price of $85,000, but fell well short of the international record for a P50 of US$176,000, set in 2016.
More affordable and usable, although not significantly larger than the Peel, was a late-series Fiat 500 ‘Bambino’ that sold for $26,250. Also affordable was an Austin-Healey Sprite 2A at $14,800 and a Bentley Turbo R in need of some work but still tempting at $18,200.
Among the ‘No Sales’ was an Aston Martin AMV8 originally owned by actor Peter Sellers of Goon Show and Pink Panther fame. It was bid to $176,000 and quite likely has by now been sold.
Highlight of the sale – and with a guide price above $300,000 – was the fearsome looking M.A.B Aero Engine Special. This 1908-era chain-driven monster was restored during the 1980s in the style of a period racing car, with a 27-litre (yes, you read that right!) Packard V12 aero engine substituting for the original. The car has since been used frequently for Veteran Car events here and overseas and was bid to $218,000 against a guiding range of $320-360k, so was not sold.
Sports cars, including some with Australian racing heritage, were prominent also amongst Donington’s listings. They included a much-admired Elfin Streamliner which didn’t meet its reserve price and a Buchanan Holden which did and sold for $25,000.
These Australian special-bodied sports car were built by the Buchanan Motor Company in the late 1950s and are also known as Buchanan-Holden Specials. They feature a custom-built chassis designed to fit FJ Holden running gear and could be ordered from the factory or as a do-it-yourself kit.
A selection of 12 lots was fielded over at Chicane’s Braeside auction house, with plenty of variety and sensible reserves that saw a 75 percent clearance rate achieved on the night.
High-value cars were headed by a replica Ford GT40 which was referred at $146,000, closely followed by a lovely XB Fairmont 351 Hardtop that did sell at close of bids for $128,000.
Half of the Chicane docket could be deemed affordable, with sales including a Jaguar 3.8 Mark 2 at $40,250, a Mustang convertible and Porsche 944 Turbo which both made $37,750 and a very desirable BMW 325iS at a bargain $49,500.
The last Saturday of most months will bring a Lloyds Classic and Barn Find sale and late October saw the Gold Coast outfit again offering more than 100 interesting and affordable cars.
Bidders on the day were perhaps preoccupied by the V8 Supercar race occurring a few kilometres down the road so the gavel didn’t thump down on too many lots, but enough to keep observers in the auction room awake.
A couple of ‘cheapies’ that did sell were the unreserved Alfetta sedan at $5400 and a decent looking FJ40 LandCruiser that reached $13,000. Also sold without reserve was the restored body-shell for a very rare Mazda RX2 Coupe which reached $33,500 and when finished should be worth over $80,000.
Exceeding the $100,000 mark but still very much a ‘bargain buy’ when compared with similar cars recently sold was Lloyds’ R34 Nissan Skyline GT-R, which found a new home at just $109,000.
Then came the Holdens and a car many in the room and online had been waiting to see; an unreserved HQ Holden Statesman De Ville with its correct 350-cubic inch Chevrolet motor. A decent looking car with lots of history, the HQ made a hammer price of $80,500 which was virtually double the top offer on a WB Statesman Magnum with HDT enhancements which was a no-sale at $40,500.
Number plates have generated excitement in the auction world over many years and often outsell the most expensive car in any given month by big margins.
This could again be the case when (no sniggering please) New South Wales collector plate ‘69’ reaches the end of its extended bidding period in late October and hopefully sells to the highest bidder. At the time of publication, the bidding sits at $1 million on the dot and is expected to realise significantly more in its final hours.
Of the other plates sold during October, several broached the $100,000 mark with the most valuable being VIC ‘375’ which went to new owners via the Trading Garage online site at an appropriate $375,000.
Please note: All figures quoted are Hammer Prices in Australian Dollars (unless otherwise noted) and do not include any applicable Buyer Premium.
