The Gosford Classic Car Museum, housed in an old Bunnings Warehouse, has had to shut its doors after a two year long battle with the Australian Tax Office.
Auto Invest PTY LTD (the company that founded the Museum) were destined to fight an uphill battle when they opened the Central Coast tourist hot spot in April 2016. The Museum was an odd concept as it charged its 10,000 monthly guests an admission fee, sold cars that weren’t actually on display, and had the word ‘museum’ in its name. The ATO, therefore, determined that the Gosford Classic Car Museum was a dual-purpose business and was not valid for the Luxury Car Tax and GST exemptions.
The end result is a loss of jobs for 40 employees and a locally cherished spot worth over $70 million. But the area is losing far more than a few of the world’s finest vehicles.
The stunning success of the Museum was set to send the development of the surrounding area into overdrive. Adding to the Gosford Classic Car Museum’s prior success would be a seven-storey, eco-friendly tower that would have included a gym, retail stores, auction house, and call centre. The initiative was set to bring a further 200 jobs to the area and accelerate the Museum towards further national and international fame.
Counting Their Losses
Although Auto Invest will never be able to match the potential 100’s of jobs and truly unique experience that the Gosford Classic Car Museum provided, they’re hoping to sell north of $30 million worth of cars, which are still on display on their site. Some of the sales include:
A Lamborghini Diablo SV 1999, with a rocketing V12 engine and one of only 100 produced from the line.
This Aston Martin DB2/4 1955 that first entered Australia in the late 1950s and is currently in excellent unrestored condition.
A coveted and renowned Jaguar E-Type Series I 1962, which has been masterfully restored and is in prime driving condition.
A stunning ivory Porsche 356 SC 1964 with mileage below 12,000 km and a top-engine rebuild.
And last – but certainly not least – is the American LaFrance Century Series 1983 vintage firetruck, arguably one of the Museum’s crowning jewel.
The above vehicles, among many more, will be up for auction on the 6th and 7th of April with Lloyd’s Auction House. For more information on the upcoming auction, as well as the chance to get involved, head over to Lloyd’s website.