Yahoo Finance Australia’s largest collection of classic cars goes to auction with all cars starting at $1
Image: Gosford Classic Car MuseumThe largest collections of classic cars in the southern hemisphere is heading to auction, with multiple cars expected to achieve seven-figure sums.
The Gosford Classic Car Museum closure means more than 200 cars, bikes and memorabilia will be up for auction in April with most cars unreserved and all starting at $1.
According to Lloyds Auctions chief operations officer, Lee Hames, several cars are expected to sell for seven-figure sums, with the whole collection to sell for more than $30 million.
“This impressive collection of classics is highly important to motoring enthusiasts and collectors and because there is such a wide range of cars from European, Australian and American classics we are expecting thousands of people to show up even more than the Brock Collection Auction we ran in October last year,” said Hames said.
The collection includes a range of classic and vintage European, Australian and American vehicles, including Porsches, Ferraris, Aston Martins, Fords and Holdens.
Formula 1 World Champion Alan Jones described the collection as one “to never be forgotten”.
“It is extremely special and admired by many collectors and enthusiasts out there including myself and I for one am very excited to be a part of this collections journey and passing on these cars to the next custodians,” Jones said.
Bids have already begun online, with the auction to be simulcast live and at an event on the weekend of 6 and 7 April.
The closure of the museum comes with 40 job losses and follows a battle with the Australian Tax Office.
The museum, which estimates its stock has a total value of more than $70 million, said the closure was due to an “ongoing and unresolved dispute”.’
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