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Collector to spend $500k on motoring history

  • January 28 2021
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Collector to spend $500k on motoring history

By Cameron Micallef
January 28 2021

The last Holden manufactured in Australia is going to auction this weekend, with collectors likely to spend an estimated half a million on this piece of history.

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Collector to spend $500k on motoring history

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  • January 28 2021
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The last Holden manufactured in Australia is going to auction this weekend, with collectors likely to spend an estimated half a million on this piece of history.

Holden

The Holden VF Series II SSV Redline built in October 2017 is the very last Holden manufactured in Australia. Holding a part of the 70-year-old Australian automotive history, with just 102km on the odometer and presented in the same original showroom condition rolled out of Holden, the car is expected to fetch some $500,000. 

“The interest in this car has been phenomenal, we have had enquiry from collectors, investors and Holden enthusiasts from all over the country, phones are ringing off the hook night and day. There are some very passionate Holden enthusiasts and collectors looking to own this special piece of Australian history,” Lee Hames, chief operations officer for Lloyds Auctions, said.

The auctioneers highlighted an increasing race to capture Holden vehicles on the back of building nostalgia, which follows Holden’s exit. 

“We have seen a huge demand for Holden vehicles, particularly HSV, since the closure of Holden, and we encourage anyone who might be looking to sell their vehicle to give us a call right now,” said Mr Hames.

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One example of this is the W1 Maloo Ute also listed in the same auction this weekend.

“This car was a secret project built under the cloak of silence to celebrate two Australian icons. The first being Holden and the second being a classic Aussie ute. This is arguably one of Australia’s most collectable muscle cars and its one of only four ever built,” said Mr Hames

In 2020, around 600 Holden employees lost their jobs after the carmaker’s parent company, General Motors, announced that the iconic Australian brand was closing down after the government ceased subsidies to the car manufacturer. 

In total, government support for GM’s local operations hit over $2 billion, as the local authorities fought to keep the manufacturer onshore.

At a press conference in February 2020, GM international operations senior vice-president Julian Blissett explained that 600 of its 800 employees would be let go by the end of June, while some 200 would remain as part of the company’s promise to provide its customers with servicing and spare parts for at least 10 years through national after-sales networks.

Mr Blissett said GM had taken the “difficult decision” to end Holden’s proud 160-year history after implementing and considering numerous options to maintain and turn around its operations.

In the end, the decision came down to “global priorities”. 

“Over recent years, as the industry underwent significant change globally and locally, we implemented a number of alternative strategies to try to sustain and improve the business, together with the local team.”

Collector to spend $500k on motoring history
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About the author

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Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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