The largest collection of classic cars in the Southern Hemisphere is going up for Auction in April with most cars completely unreserved and all starting at $1.
The owner of the classic car collection at the Gosford Museum near Sydney has decided to sell up one of the best collections in the world appointing Lloyds Classic Car Auctions as the exclusive worldwide Auctioneer.
“We are extremely humble to be able to offer this incredible car collection,” said Lee Hames, chief operations officer for Lloyds Auctions.
“Interest in this auction is already pouring in with strong bidding already commencing online and we’ve only published the auction on our website in the last few days,” Hames said.
The collection of over 200 cars, bikes and memorabilia located in an old Bunning’s building is described by many as an immaculate collection that’s in a class of its own.
It is expected for multiple cars to achieve seven figures with enthusiasts expecting the total collection will sell for in excess of $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,” Hames said.
Cars within the collection include an extensive range of classic and vintage cars and motorcycles such as European, Australian and American classic cars, featuring Ferrari’s, Aston Martins, Porsches, Ford’s and Holden’s.
The Gosford Classic Car museum officially closed its doors last month after losing a two-year battle with the Australian Taxation Office.
The museum, which opened three years ago in 2016, was closed due to a technicality in a business model which left them unable to claim tax exemptions.
Gosford Classic Cars was established as a showroom for interested buyers to view luxury cars with the museum element of the business being used as a way to generate interest and promote the sale of luxury vehicles.
When the business registered with the ATO in February of 2016, two months before they opened, they registered as luxury car seller and documented the purpose of the museum as being for promotion only.
However, when the ATO audited the business in December of 2016, they decided that the business should be classified as both a luxury car seller and a museum, making it a “dual-purpose venture”.
This change in classification meant that Gosford Classic Cars would be unable to claim luxury car tax exemptions and GST exemptions.
The ATO ordered that the Gosford Classic Car Museum stop using the word museum in their name, stop charging admission, and stop all advertising containing the word ‘museum’.
The closure of the Gosford Car Museum results in the loss of over 40 jobs.
The collection is now open for bidding online and will go up for auction in a simulcast live and online event on the weekend of 6-7 April 2019 at the Gosford Classic Car Museum. Further details can be found here.