Iconic 1980 Holden Commodores could fetch seven figures in record-breaking auction

Owners of highly sought-after vintage Holdens are striking while the iron is hot with two impeccable Commodores set to fetch $1 million when they go under the gavel.

Lloyds Auctions is presenting an iconic VL Walkinshaw with just 1400 kilometres on the clock as well as a VN Commodore SS Group A, both of which are expected to fetch hundreds of thousands of dollars.

With 10 days still to go in the auction, the 1988 Holden VL Walkinshaw SS Group A is already asking for bids of more than $220,000.

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Not far behind is the VN – one of just 302 built – holding a current bid of $185,000.

Believe it or not, the VN Commodore has just 182 kilometres on the odometer, and no, that isn't shorthand for 182,000 kilometres.

Both cars can be viewed, and bid upon, here.

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Chief operations officer for Lloyds Auctions Lee Hames said the demise of Holden as a brand has seen values skyrocket.

"Who knows what these cars will sell for, they are already fetching well into six figures due to their limited build and extremely low kilometres, but we must remember the effect of the Holden closure in Australia where we have seen a trend of records broken since they closed," Mr Hames said.

"When selecting cars for their potential to increase in value it is important to tick several boxes, namely, rarity, heritage, and desirability.

"The VN Commodore SS Group A up for auction ticks all those boxes."

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According to Lloyds, the VL Walkinshaw is in complete original condition and is arguably the most collectable in the country due to having travelled just over 1400 kilometres.

In 2018 a similar 1988 VL Commodore Walkinshaw Group A SS with 1308km on the odometer sold for $340,000.

Now the Holden brand is defunct it's likely nostalgia and scarcity could push that price higher.

Both cars, along with another 120 American, European and Australian classic cars, are up in a national auction next weekend on April 24 from midday.