The value of Holden ‘‘classic cars’’ has been climbing higher across Australia and experts say they are likely to accelerate further as nostalgia and scarcity combine.
This comes as the quintessentially Australian brand next month will be consigned to the scrapheap as a local car manufacturer when the assembly line at Elizabeth in Adelaide’s northern suburbs is permanently shut down.
National auction manager for Shannons, Christophe Boribon, says the Holden Monaro and Toranas are in strong demand, while Holden sedans in good condition and with a robust history of one or two owners are fetching record prices.
‘‘Prices are probably the highest we’ve ever seen,’’ Mr Boribon said. ‘‘You can’t really pinpoint it to one model,’’ he said. The ‘‘muscle cars’’ always attract a loyal following, and finding models across the range with an impeccable pedigree is becoming harder.
A 1969 Holden HK Monaro GTS 327 Couple fetched $210,000 in a Shannons Autumn Auction in Melbourne this year, with bidders clamouring with a sense of gusto usually reserved for real estate. A Shannons Spring Auction scheduled for September 25 has a 1969 Holden HT GTS Monaro Coupe in its line-up with an expected range of between $110,000 to $120,000, while a 1968 Holden HK Premier Sedan is earmarked to fetch between $40,000 to $45,000.
Mr Boribon said demand was rising at most price-points among the Holden classic cars, and supply wasn’t keeping up.
A 1969 Holden HK Monaro GTS 327 Couple fetched $210,000 in a Shannons Autumn Auction in Melbourne this year
Hundreds of Holdens old and new will soon be making their way to Adelaide as part of the Holden Dream Cruise on October 15, a monster street parade to honour the brand.
Holden is deeply entwined with Australia’s own motor car industry, having produced the first all-Australian vehicle in 1948.
But new vehicle sales figures for August 2017 from the Federal Chamber of Automotive Industries show that loyalty among buyers has seriously frayed. The VFACTS figures showed that across Australia, a record number of 96,662 new vehicles were sold, which was the highest ever for the month of August. But Holden is a distant fourth when it comes to the big brands, with 7.0 per cent market share for the eight months ended August 31. Toyota is the front runner. Toyota has a market share of 18.4 per cent, followed by Mazda at 10.1 per cent and Hyundai at 8.3 per cent.
The Ford manufacturing plant at Broadmeadows in outer Melbourne shut down last year, while the Toyota plant in Altona in Melbourne’s west will close down on October 3.
Despite the imminent closure of local car manufacturing plants, the demand for our homegrown vehicles is as strong as ever with prices set increase into the future as car collectors demand intensifies for near to original Australian built classics.
Prices for Classics Rev Up:
Top five Holden & Fords sold by auctioneers Shannon's
"AFS specialises in classics such the Ford GT_HO, Holden Monaro and Holden Torana" says Brad Dale, Executive Director of AFS.
"What AFS can do that other mainstream lenders can't is put a price on these unique vehicle that are often 50 years of age or more" says Mr Dale.
"Our ability to value and fix on price to a particular model, enables us to finance a collectable using our standard fixed rate loan."
"For many people, buying a classic car is an emotional experience that delves into our past memories and experiences. However, given the prices that are being paid for some collectable vehicles and their scarcity, we recommend that bidders compliment their auction bidding strategy with a pre-approved loan, that way you have the confidence to bid with authority on the night and won't miss out on the car of your dreams" says Mr Dale.
"Customers can arrange car finance through AFS that ensures flexibility of choice:
Just to wet your appetite - 1972 Holden LJ Torana UX-1 :