First factory Holden racer fetches $750,000 at auction

Lloyds Auctions has sold the first factory-backed 1969 Holden HT Monaro 350 GTS for three quarters of a million dollars.

The sale is believed to be a record high price for a Holden at auction.

Before the car went to auction this weekend, the car was flagged with a possible export ban by the Department of Infrastructure, Transport, Regional Development and Communications.

Nevertheless, the car sold to an anonymous buyer who has intentions to keep the car in Australia.

“We are extremely excited that the car will remain within Australia, this important Holden achieved the highest price for a road registerable Australian Holden ever sold at auction,” said Lloyds Auctions CEO Lee Hames.

“There were seven bidders on the Holden Monaro which came down to two Australian enthusiasts who fought it out, both with the intention to keep the car within Australia.”

Earlier this week Lloyds Auctions signalled the Harry Firth prepared Monaro might fetch $1 million at auction.

The car debuted in 1969 at Sandown International Motor Raceway in a three-hour production race with Kevin Bartlett and Spencer Martin at the wheel.

The car ran under the Holden Dealer Team banner, circumventing a ban by General Motors on factory-supported motor racing activities.

However, the car ran with support from local manufacturer Holden.

The car was crashed in its debut, which is largely credited for the Monaro’s success shortly thereafter at Mount Panorama after changes were made to the brake package across the fleet.