Rusted, broken Harley sells for $600,000

A dented, broken-down, 90-year-old Harley-Davidson has sold at auction for $600,000 in Melbourne.

An anonymous Australian bidder beat fierce competition from the US and Europe to take home the fractured two-wheeler and sidecar, considered the holy grail of vintage racers.

It is believed only a handful of the powerful 1000cc 8-valve racers exist in original condition from Harley-Davidson's original run of less than 50.

Christophe Boribon, national auctions manager of Shannons Auctions, said it appeared the bike was put away soon after its last race in the late 1930s or early 1940s.

"You can go and restore something but to have something that is original and 'barn-find' is always on the top of the list these days for collectors," he said.

"You can't recreate originality."

The 1927 model was the fastest produced by Harley-Davidson from 1916 to 1928.

Harley-Davidson never made it available for public sale, only to up-and-coming racers, and many failed to survive the rough racing of the day.

Others were extensively modified, so an unrestored product is all but impossible to find.