Burns & Co. Auctions are enjoying a very busy period, with some exceptional results achieved at recent auctions.
Their Mother’s Day Classic Car Auction, headlined by the ex-Pete Geoghegan Mustang and ex-Bob Jane Monaro, resulted in a $4 million clearance that included six-figure prices for several lots and a whopping $324,205 for a 1972 Holden LJ Torana GTR XU-1.
These results underline the strength of the Australian car market at present, with buyers sourcing Australian-made vehicles with excellent provenance and treating each one as a unique investment opportunity. Given the low interest rates on cash deposits, the high cost involved to get into the real estate market and the uncertainty of the corporate world, many of these classic and collectable vehicles are now being purchased as investment opportunities.
That ’72 Torana’s sale price has prompted the emergence of another genuine GTR XU-1, which Burns & Co. Auctions will soon bring to the open market.
This 9/73-built LJ Torana GTR XU-1 ‘Bathurst’ model (1 of 150) is highly collectable on that spec alone, but what makes this car special is that, in its infancy, it was used by Holden as the ’73 Bathurst Test Car (provenance available). A letter from Holden, dated 22nd September 1992, states: “Our records do indicate that this vehicle was delivered to our Fishermans Bend Plant and used within the company”.
There is also documented evidence from 1973 of the engineering test with the car’s original rego LPG-191 and the original purchase order from Holden, including dealer code 269, which is Holden’s internal dealer code.
Given its provenance, Burns & Co. Auctions predict this Torana will attract very keen interest when it goes to auction, so watch this space for more details.
Burns & Co.’s next Classic Car Auction is set for Sunday 8 August from 1:00PM, where approximately 50 cars will go under the hammer.
