An Australian concept car hyped as being worth $2.6 million fell far down under auctioneers' estimates when it sold for a mere $307,000.
The Holden HSV HRT 427 coupe, a supercar concept based on the Holden Monaro, was the showpiece of Cairns-based businessman Shawn "Chooka" Ryan's collection. He wasn't parting with the car out of boredom: Two of Ryan's businesses were in receivership and Ryan was forced to sell 22 other cars in addition to some real estate.
If the HRT 427 looks familiar, that's because the Monaro was known as the erstwhile Pontiac GTO to us Yanks. But that's where the similarities end. The super Holden that Ryan sold last week was one of only two such concept cars built before GM Australia scrapped the project in 2002. The car had a modified 7.0-liter engine that made 563 horsepower. It could do zero to 60 in less than four seconds.
The concepts nearly $450,000 each to build, and Ryan paid $807,000 for his two years ago. That broke a record for the most expensive Australian car ever sold. Still, we imagine seeing it sold to an anonymous bidder for less than half of what he paid made the sound of the auctioneer's gavel that much more painful for Ryan.
*Photo: General Motors
*
