Lamborghini in massive markdown after receivership

MATT CAMPBELL
Last updated 05:00 12/12/2012
Lamborghini

BARGAIN: The convertible Lamborghini sold for a mere half a million dollars (NZ) at auction.

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A Lamborghini seized by receivers in Australia has been sold at auction for a bargain. Well, a relative bargain, anyway.

The 2012 model Lamborghini Gallardo Spyder LP570-4 Performante usually has an asking price of NZ$724,300 plus on-road costs, which equates to a total price of more than $750,000.

The model sold last night had just 970 kilometres on the clock and fetched $513,000 at auction – representing a fairly handy discount of about $237,000 for the buyer of the ultra-rare and exotic machine.

The auction was hosted at Fox Studios in Sydney by Pickles Auctions, on behalf of the finance company that recently seized several vehicles – including two from a stand at the Sydney motor show – after the Italian supercar brand's Sydney dealership failed.

The Pickles Auctions manager of prestige vehicles, Steve Allen, said the price paid for the all-wheel-drive Lamborghini Gallardo exceeded the company's expectations.

''There was a lot of genuine interest in the car," Allen said. "We had eight to 10 genuine bidders before the final price of just under $410,000 was reached. [NZ$514,000]

"We were thinking maybe in the high-$300,000s," he said. "The car was only complied and registered in October."

Allen said there are regularly cars of this level sold at repossession auctions, with one such event held every quarter.

Pickles will put several new and near-new Audi luxury cars under the hammer in the coming weeks after a dealership on the NSW central coast changed hands.

''We've got about 30 brand new and demo model Audis that are repossessed that the finance company wants sold prior to Christmas,'' Allen said.

He said details of the Audi clearance auction will be released shortly on the company's website.

-Fairfax News Australia

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