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Top 5 Australian Auction Car Prices

The theory of supply and demand is Economics 101. A very basic principle that explains the less there is of something, the more people will be willing to pay for it. Think red diamonds, a bottle of 1787 Lafitte, The Mona Lisa. You get the idea. All these kinds of things are incredibly rare and therefore incredibly expensive. Something else that will become not only incredibly rare soon but extinct is the Australian car industry. So it follows that some already very rare Australian cars that that have already fetched some staggering auction prices will increase in value even more. Counting down, the fifth most expensive car to be sold at auction in Australia isn’t actually Australian at all but a 1960 Volkswagen Kombi Samba Microbus, which sold for $202,000 last year, setting a world record for the price paid for a Kombi in the process. One step off the podium in fourth and also selling last year at a charity auction was the very last Ford Falcon GT-F ever to be produced. With the ‘F’ in GT-F standing for ‘Final’, only 500 of these were made but there’s only one with a ‘GT-F (500)’ stamp on it and it went for $236,000. Probably a bargain when you consider the owner of ‘GT-F (001) was offered $500,000! Third most expensive at auction is a vintage Aussie icon in the shape of a 1971 Falcon XY GTHO Phase lll. Sold in 2007 for $683,000, this classic was the record holder for the highest price paid for an Australian muscle car at the time. Not a bad profit when you consider these legends of the road originally sold for $5159.00 That record didn’t last long though because a few months later another Phase lll from the same year went for an even more astounding $750,000! So that brings us to the most expensive car ever to be sold at auction in this country. This record has stood for some time and although it subsequently sold in 2010 for about a third of the record price it fetched in 2008, it still puts the $920,000 paid for the one and only 7.0-litre Holden Monaro HRT 427 as the title holder. Now, $920,000 is a lot of money in anyone’s language, but globally it pales into insignificance for the price paid at auction in 2014 for a 1962 Ferrari 250 GTO. It went for an eye-watering US$38,115,000! A smidge over $51 Million Aussie dollars at today’s rate. Kind of makes the HRT 427 look like a steal!

Aboriginal Car Name Origins

There are some great car companies around the world with iconic names to match. The origins of these companies are well known to car enthusiasts, even though many have since been bought out or sold. The Brits have Rolls Royce and Bentley, the Germans have Porsche and Mercedes Benz and the Italians have Ferrari and Fiat, and so on and so forth. These brands evoke images of their country of origin, whether it’s a Silver Shadow majestically passing Big Ben, a Carrera 911 storming down an autobahn near Stuttgart or a Fiat 500 zipping around the Colosseum in search of that perfect espresso. Here in Australia, we have exactly the same scenario as our European cousins. Holden and Ford have established a proud national heritage too, however the names of some of our car models have a history originating from a culture that itself, has been around for over forty thousand years. And that of course is the Aboriginal culture belonging to the traditional owners of Australia. A shining example of this is the beloved Monaro, which is Aboriginal for ‘high plain’ or ‘high plateau’. In 1967, Holden was having trouble coming up with a name for its new coupe. But as luck would have it, Noel Bedford, Holden's Technical Designer was on holiday and as he drove through Cooma, he passed the ‘Monaro County Council’. “It said ‘Monaro County Council' in western-type lettering that reminded me of 'Marlboro Country' and Camaro. It seemed to me so simple and logical. Why didn't somebody think of it before? I was quite excited and couldn't wait to get back to work,” Noel explains. And the rest as they say is history. Another true Aussie automotive icon is the Holden Torana, which like the Monaro, has its name originating from Aboriginal culture. Meaning ‘to fly’, it also has alternate meanings in other cultures such as Hinduism and Buddhism. Unfortunately, not every car name with Aboriginal origins becomes an icon. So it was with the Camira. Billed as a “Supercar” in the early 1980s when released, it never really lived up to the hype. As a result, the Camira, meaning ‘wind’, never went on to achieve the status of the aforementioned legends above. A more recent example of continuing the indigenous theme is the Maloo. John Crennan, the ex HSV Managing Director came up with that one after reading a book on Aboriginal Australians. Released in 1990, the Maloo, meaning ‘storm’ or ‘thunder’, was released in 1990 as a performance ute. It went on to become famous in 2006 when the Z series Maloo R8 broke the world record for the fastest production performance Ute. Without doubt, these great Aussie auto icons, named after words from one the of oldest, if not the oldest surviving culture in the world, evoke images of our great Australian landscape, just like the European auto icons do in London, Stuttgart or Rome.

The Art of Automotive Innovation.

Think of the National Gallery of Victoria and Monets, not Monaros would normally spring to mind. But that and 22 other car inspired exhibits are exactly what’s on show at the famous art museum in Melbourne until the 12th of July when the gallery plays host to Shifting Gear: Design, Innovation and the Australian Car. From steam-powered “horseless carriages” to the legendary ute, powerful V8s and futuristic concept cars, Shifting Gear displays 23 of Australia’s most iconic vehicles, along with photographs, models and sketches. NGV Director Tony Ellwood said, “Shifting Gear will be the first major exhibition of Australian car design and is exclusive to the NGV. As part of the NGV’s commitment to showcasing design, this exhibition will uncover how the modern automobile is far more than simply a means of transport; it is a sophisticated design object that reflects contemporary aesthetics and social values.” Shifting Gear guest curator Harriet Edquist, Director of the RMIT Design Archives, commented that Australia has an astonishingly vibrant history of ingenious car designs. “The exhibition shows the diversity and ingenuity of Australian automobile design in the variety of cars it has brought together – not only the family car but also racing cars and sports cars, high-performance production cars and concept vehicles never intended for production, demonstrating Australia’s significant past and future role in research and development,” said Professor Edquist. Exhibits include rare and unique concept cars such as the Holden Hurricane, Torana GTR-X, EFIJY and HQ Monaro. Holden’s Director of Communications, Sean Poppitt said that partnering with the NGV was a great collaboration as both have a long history of exciting and innovative design. “Holden Design has produced some truly iconic and ground-breaking vehicles, most recently the Buick Avenir which took centre stage this year at the North American International Auto Show. To be able to showcase them in such a fantastic setting as this is both fitting and very exciting,” said Mr. Poppitt. “The exhibit provides us a wonderful opportunity to showcase these fantastic vehicles and, in turn, the incredible design talent we have at Holden. It also gives the Australian public a unique opportunity to see these world class vehicles up close and personal in one place.” Shifting Gear: Design, Innovation and the Australian Car will be on display at The Ian Potter Centre: NGV Australia at Federation Square from 6 March 2015 to 12 July 2015. Open 10am-5pm, closed Mondays. Tickets on sale now from ngv.vic.gov.au. Adult $15 | Concession $12 | Child $7 | Family (2 adults, 3 children) $41