Yahoo Finance First-ever Holden set to bring in $1 million at auction
The first factory-made Holden race car is headed for auction later this week and is expected to sell for $1 million, breaking previous auction records.
According to Lloyds Auctions chief operations officer Lee Hames, the 1969 Holden Dealer Team HT Monaro is a significant part of Holden’s history, shaping the success of the company and brand’s place in the motor industry.
Also read: Holden brand to disappear in Australia; nearly 600 jobs gone
Also read: Vintage Holden car values double overnight
The HT Monaro debuted the same year at the Sandown 300 race, which ended prematurely because of a crash at the 45-minute mark.
Findings from the crash were used to make changes to other HT Monaros, which then went on to secure victories for racing legends Colin Bond and Tony Roberts later that year.
The success of the Holden Dealer Team was the beginning of the ongoing rivalry between Holden and Ford.
And the car is expected to bring in some major cash, according to Hames.
“We expect that this incredible piece of history will break seven figures – making it the most expensive Holden ever,” he said.
The HT Monaro has a “story that will never be forgotten especially by Holden enthusiasts, and this is the reason why it could actually fetch a 7 figure amount breaking Australian records,” he added.
“While we’re seeing rare classic cars like Holden Toranas and GT Falcons selling for hundreds of thousands, none have the colourful backstory or cultural significance of this Monaro, which is what makes it so rare and special.”
The car will go to auction this Saturday 27 June at noon at Lloyds Auctions, 148 Magowar Road Girraween.
Earlier this year, the price of some vintage Holdens effectively doubled overnight after the iconic car brand announced its shock $1.1 billion demise on 17 February.
Follow Yahoo Finance Australia on Facebook, Twitter, Instagram and LinkedIn.
