'Barn find' Subaru set to fetch $1 million at auction

Friday, 24 September 2021

Originally thought to be an early two-door Subaru Impreza, this rally machine could now fetch more than $1 million.

A dusty old Subaru might be the next million-dollar car, after it was discovered that rally legends Colin McRae and Carlos Sainz Sr. drove it in competition.

The car was originally thought to be an early two-door Subaru Impreza, with an estimated value of between AU$15,000 and $20,000 (NZ$15,487 and $20,649). But after a wash, a closer look and a thorough history check, the car’s racing heritage was revealed and the valuation revised.

'Today it's had a wash and a check of its history, and it may well be worth more than $1 million,” Lloyds Auctions chief operating officer, Lee Hames, told 9 News.

'This is a once-in-a-lifetime opportunity to own such a unique vehicle, and we are honoured to pass it on to the new custodians.'

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The exact car for sale in its prime, at the 1994 Rally New Zealand.

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Carlos Sainz driving the Impreza to third place at the Rally Monte Carlo in 1994.

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Lloyds Auctions, which is selling the car online, says it was built in December 1993 as the first ‘555’ Impreza for Carlos Sainz. It was also the first to wear the ‘L555REP’ number plates to celebrate the Repsol sponsorship with Subaru and Sainz.

During the car’s racing years, Sainz placed third at the 1994 Monte Carlo rally, from an eighth-position start, driving through snow and ice. It was later altered for Colin McRae, who drove it in the 1995 World Rally Championship season with the L555BAT plates.

According to the auction description, the car can be had with either ‘555’ or ‘(((‘ livery, the latter being the replacement livery used in countries that banned cigarette sponsorship.

The car is one of 63 commissioned by Prodrive, and the undercarriage, engine, suspension, wheels, and tyres all carry Prodrive markings and 1993/94 date codes.

The engine is the original Prodrive unit, rebuilt prior to the 1995 Corsica rally. It was verified by Possum Bourne Motorsport, confirming Prodrive witness marks and unopened crankcases. It even has the original active front differential and Type 2 six-speed Prodrive gearbox.

At the moment, the car is a static display in as-is condition with visible wear from its last drive in 1996, but Lloyds says a restoration is possible, “with a sympathetic approach to maintaining the patina and originality of such a rare vehicle.”

Bidding sits at AU$195,000 at the time of writing, with the auction set to close on the 26th of September.