Gosford Classic Car Museum Auction

April 30th 2019

The Gosford Auction

The Gosford Classic Cars Museum was founded in 2016 as a place where car enthusiasts could gather to look at, and optionally buy legendary cars. Unfortunately they soon faced troubles with the Australian Taxation Office (ATO), who were unable to decide if the company fell under the same tax laws as other motor dealerships.

As a result of the dispute, Gosford wasn’t able to market their business the way they had hoped. Sales revenue took a hit and the company went from selling 59 cars a month to just 5. The constant reduction in sales volume and the stringent rules applied by ATO finally resulted in the closure of the business.

Gosford Classic Cars decided to sell off their remaining stock in an auction that was held on 6th and 7th of April under the supervision of Lloyds Auction House. A number of exotic and highly sought after cars were on display, and the auction raked in record figures.

Inspection Day

Before any auction, the auctioneer offers bidders an opportunity to physically inspect the auction vehicles. On inspection day, you can check the condition of the car, but driving it is of course out of the question. It is advisable to take a vehicle inspector with you, but if you don’t have a go-to you can hire one on the day of inspection.

Gosford car auction

Auction Day

On the day of the auction, you won’t be allowed to inspect the car you hope to buy. The vehicle will be presented in front of you, with the starting bid set by the auctioneer.

The Gosford Auction

The Gosford auction attracted car lovers from every corner of Australia. It was so well received that only two international buyers managed to place winning bids — all the rest went to Australian nationals. As one F1 driver put it, “Proof that the Australian market is really strong came with only two international bidders successfully winning cars. It proves that Aussie car collectors value their classic cars and heritage.”

All the cars showcased in the auction earned the price they deserved. The auction was so well received that it sent ripples through the international automobile community. All eyes were on the bidders on the 7th of April as a huge collection of exotic and vintage cars were on display.

1964 Aston Martin DB5

The highest bid went to the 1964 Aston Martin DB5. This car became famous in the ’60s when it was introduced as James Bond’s car in the renowned movie series. The silver metallic car shone in all its grandeur and instantly earned the awe of movie goers worldwide. That probably explains why this particular DB5 managed to rake in $1,550,000!

2016 Porsche 911 R

This Porsche had the most powerful engine ever built by the German company. Using this engine, Porsche beat the Nurburgring record for a stock car. It is therefore no surprise that the 500 horsepower Porsche 911 R captured a whopping $650,000 from the auction. Never before has a 911 R received such a high bid. The over half a million dollar bid shows how legendary this car already is at 3 years of age.

1984 Lamborghini Countach 5000 QV

The Lamborghini Countach was the fastest car of its era. The Italian Automobile brand Lamborghini ruled the supercar market with the Countach for years before they introduced new models. It should not come as a surprise that the Countach 5000 QV went for half a million dollars. This car is extremely rare and a gem of an item for a collector’s garage.

1959 Ferrari 250 Testarossa

The Ferrari Testarossa is a pretty famous car. For years it was the face of Ferrari, and it still remains one of Ferrari’s most prized cars. Though 1959 Testarossas have been sold for a lot more before, in the Lloyd-run auction it was only able to rake in $275,000. The buyer was lucky to have had no competition, because the bid could have easily gone much higher.

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