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Japanese classics beat sales estimates at auction

By Chris Thompson, 20 Feb 2018 News

Japanese classics beat sales estimates at auction

Shannons’ most recent auction saw an early WRX and MR2 exceed bidding expectations

There were a few interesting results after Shannons Late Summer Classic Auction in Melbourne last night.

Most surprising is perhaps the amount of money paid for a first generation 1996 Subaru WRX and a 1992 W20 Toyota MR2.

The Subaru was estimated to pick up between $22,000 and $26,000 due to its low 23,657km odo reading and desirability as an early version of a now legendary car.

In addition, it’s a very tidy example. It looks almost new. And that could go some way to explaining the $30,000 one bidder was willing to shell out to be its new owner.

Just as unexpected was the eventual sale price of a rather tidy Toyota MR2, which Shannons was expecting to sell for $8000-$12,000.

This one was sporting 50,432km on the clock, and its interior looked well-kept for a 26-year-old targa-topped car.

Still, we don’t think anyone was expecting to see it sell for a whopping $23,500. That’s almost double the upper estimate given by Shannons.

It goes to show that the classics of the ‘90s are quickly picking up value, especially when it’s so rare to find a totally stock example.

Interestingly, the top-billed Aussie muscle car of the night, a Holden Monaro HK GTS 327, passed in. Despite the muscle car boom of the past few years, it failed to reach its undisclosed reserve, let alone its estimate of $170,000-$220,000.

Its younger brother, a Holden Monaro HQ GTS 308 did however sell, and for $19,000 more than the upper limit of its estimate.

Shannons slapped a $60K-$75K estimate on it, but someone shelled out $94,000 for the pleasure.