It’s a BMW E46 3 Series fitted with a turbocharged Mazda triple-rotor engine producing 1650hp, plated in 23 carat gold, and it can run a quarter-mile in less than seven seconds.

The Queen Street Racing BMW is well known in the Australian modified car scene, and has been doing the rounds on social media since the vehicle turned up at a salvage auction in recent days.

Pickles Auctions provide few details, other than listing ‘damage to the entire vehicle,’ but it turns out the BMW fell off the back of the truck – literally.

Mohammed Ibrahim, co-founder of the Queen Street Group, says the front of the car wasn’t secured correctly while the vehicle was being transported.

“We had some issues with the insurance company,” Ibrahim told Street Machine.

“We just told them to keep it.”

Ibrahim says he intends on buying the car back from the auction house, as the car has more than a decade of memories for him and his team.

First revealed in 2010, the triple-rotor BMW was once valued at $1 million, thanks to its custom carbon-fibre body, PAC Performance-built 20B engine, and around $120,000 of gold plating.

A date for the auction has not been set, but you can view the listing by clicking here.