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.

Scott Webber

Head Of Valuations

Accredited Senior Appraiser

Licensed Auctioneer

Qualifications & Affiliations

American Society of Appraisers (ASA)

Profile

Scott Webber is one of the founding partners at Lloyds and has worked for the company from its inception in 2004. In that time Scott has been a Licensed Auctioneer and Qualified ASA Valuer. Prior to Lloyds, Scott was a Farm Manager at Cubbie Station in Queensland, he has an earthmoving and agricultural background.

Scott is heavily involved in daily valuations. He acts for a wide range of clients and vendors including Insurance companies, Financiers, Insolvency Practitioners, Government branches, Joint Ventures and Alliances, large companies, and private individuals. Scott personally co-signs and oversees every valuation report completed by Lloyds. On average the Lloyds valuations department conducts over 500 appraisals per financial year.

Scott has managed many auctions and private sales, previously completing an approximate average of 400-800 traditional auction lots per week. Given that the Lloyds system is now online, traditional auctions are very minimal and are completed in a simulcast method, to comply with contracts we have with major government departments. Although Scott’s focus is currently Valuations, he still oversees and runs auctions weekly on a wide variety of assets from motor vehicles to very specialised process lines.

Scott offers a wealth of experience as an Auctioneer and Valuer in all aspects of Valuations and Asset Disposals.

Having headed disposal programs for Major Infrastructure Alliances, Joint Venture partnerships and Government projects throughout Australia, Scott has a wide range of experience in the Civil Construction, Earthmoving, Manufacturing and Agricultural sectors offering a “turn key” service from start to finish.

Mobile: 0439 765 669