Why Holden’s last models are fetching record prices, beating BMW, Mercedes Benz, Audi

Aussie car enthusiasts are asking double their money – or more – for the last of our muscle cars. See how they compare to their rivals.

Holden’s final cars are pulling huge prices from folks keen to own a slice of Australian motoring history.

Prestige vehicle experts say unprecedented rising values are linked to low interest rates, slow growth in the property market, and the knowledge that Australian-built muscle cars are consigned to history.

The most valuable models are the last Holden Special Vehicles machines built shortly before the factory closed its doors in 2017.

Popular raffles company LMCT+ paid more than $1 million for this HSV GTS R W1 Maloo. Picture: Lloyds Auctions

A rare V8-powered HSV Maloo ute broke records to fetch more than $1 million at auction last week, when the last Commodore sedan built also sold for $750,000.

Since then, owners of HSV’s final GTSR W1 sedans have advertised cars online for $500,000 or more.

Classic car expert John Varrasso said “demand exceeds supply at the moment”, and that “the trend is only going to get better as far as values go”.

A veteran at prestige vehicle outlet Dutton Garage, Varrasso said demand for HSV models “has been very strong”.

HSV’s final models include the HSV GTS R Maloo ute (left) GTS R W1 sedan (middle) and GTS R sedan (right).

“People aren’t travelling overseas, or spending money on holidays and things like that,” he said.

“They’re investing in cars like this, which there are no more of. They’ve been getting a better return by having an HSV than having money in the bank.”

Mr Varrasso said any HSV in good condition could increase in value.

Rising prices aren’t limited to particularly exclusive or expensive models.

Bathurst winners such as Craig Lowndes helped establish Holden’s legend.

Vehicle classified website Carsales.com.au reported a 30 per cent increase in the average listed price of all HSVs in the last 12 months, while regular V8 Commodores have increased by almost 42 per cent.

Sydney’s Classic Throttle shop sold a 20-year-old HSV ute for almost $70,000 this week, about $20,000 more than what it cost new.

Motorsport success was key to the enthusiast appeal of V8 Holden machines.

The dealership says values of golden-era HSV models built when drivers such as Peter Brock, Mark Skaife and Craig Lowndes were racing at Bathurst are “poised to skyrocket”.

Holden Monaro models originally sold for $60,490 in 2005 dropped to $25,000 or so in 2013, before climbing back to $100,000-plus today.

David Nankervis, founder of new online auction platform TradingGarage.com, said people needed to be wary of huge asking prices that might not reflect real-world values.

Holden’s Limited Edition Holden Commodores – the Director, Motorsport Edition and Magnum – are particularly valuable.

It doesn’t help owners or buyers when there are cars online asking $600,000 as an asking price. It doesn’t mean that’s what they’re worth,” Mr Nankervis said.

“HSV W1s were listed online in June last year for under $200,000 with less than 1000 kilometres, now everything on Carsales is $500,000-plus.

“It’s the biggest moving target I’ve ever seen in the car industry. I’ve never seen prices move that quickly in that short space of time.”

Following the end of retail operations for Holden last year, January 2021 represented the first month since 1949 that no new Holdens were sold in Australia.

Climbing values represent great news to current owners with one of Holden’s last cars tucked away in the garage.

Jeff Dutton of Dutton Garage with a rare last model Holden Supercharged GTS 30th Anniversary Commodore and a Enzo Ferrari in his showroom. Picture: David Caird

But folks who dreamt of owning the most desirable models may have missed their chance.

Dutton Garage classic car specialist Jeff Dutton said his company bought as many good examples as it could find before prices boomed, as “we could see the writing on the wall with Holden”.

“They aren’t making any more of them.”