More Luxury Cars Go Under The Hammer

More Luxury Cars Go Under The Hammer

Turners Auctions is putting a further 17 luxury cars under the hammer this weekend following its successful Prestige Car Auction in June, which saw more than $1 million in top end vehicles sold.

This new line up of luxury vehicles, including Audis, Porsches and Aston Martins, again have a combined value of more than $1 million and have all been repossessed and are being sold on behalf of finance companies.

It has been six weeks since the first auction and General Manager Sales & Marketing Todd Hunter says there are still plenty of cars at the premium end of the market whose owners can’t keep them in the current climate.

“The extra pressure placed on finance companies and property developers in the current economic climate, means the repossession and surrender of luxury cars is still a common occurrence.

“Buyers have a unique opportunity to purchase vehicles they would normally only dream about – at a price they might well be able to afford,” he says.

At the initial Prestige Car Auction in June, 18 cars went up for sale which had either been repossessed or ‘surrendered’ by their previous owners. Sixteen were sold for a total of $1.2 million.

Turners Auctions had an impressive turn out, with more than 400 people registered to bid and more than 1,500 people attended.

The next Prestige Car Auction will be held at the Turners Auctions Penrose site, 70 Gavin Street, at 12pm this Saturday, August 9.

ENDS

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