Bitcoin Buys a Half Million Dollar WRC Subaru

Over the weekend, a 1994 Subaru Prodrive 555 Group A World Rally Championship Car sold under the hammer at Lloyds Auctions for half a million dollars and was bought using cryptocurrency.

This is one of many purchases that have been made through Lloyds Auctions using cryptocurrency, but one of the first race cars that have been bought using a digital wallet.

“Cryptocurrency is the way of the future and here at Lloyds we are excited to be able to offer various payment methods, and evolve with the changing world,” said Mr. Lee Hames, Chief Operating Officer for Lloyds Auctions.

This WRC car was thought to be a needle in a haystack but is now a golden treasure, driven by Colin McRae and Carlos Sainz, with an original estimated value of $15,000-$20,000, but selling for much more.

However, cars are not the only asset being bought with cryptocurrency, you can buy anything from art to diamonds to real estate, and in a world first you can now purchase NFT digital cars.

“We sold a Ford Falcon GTHO Phase III and it went for a record breaking $1.3 million under the hammer. We also sold a digital NFT version of the same Ford which went for $51,000,” said Mr. Hames.

“The NFTs were a great success, and they provide further evidence that Australian’s, and people all across the world, are developing to the new technology that will one day be a common aspect of society,” continued Mr. Hames.

Lloyds Auctions accepts cryptocurrency on every item available on the website. To learn more about this developing technology, you can view our blog here explaining everything NFTs and crypto related.

Matt Kalinski

Head Of Valuations

Qualifications & Affiliations

American Society of Appraisers Candidate Member

Certified Practicing Valuer AVAA

Profile

Matt has been in the valuations space for many years and has extensive experience in the space across an abundance of various industries. He now leads the valuations teams for Lloyds Auctions with a passion for encouraging his team to set and achieve high goals and produce great results for the company whilst growing the team’s skills starting with a great culture and team mindset.