$5000 bill to ransom Possum's stolen car

Fred Merkin with the Subaru rally car formerly owned by Possum Bourne. Pictures / Simon Baker

The owner of a stolen rally car once raced by motorsport legend Possum Bourne feels he had no choice but to pay a $5000 "ransom" to get it back.

Christchurch car-yard operator Fred Merkin paid the reward he had offered to a person who said he knew where the car was and offered to retrieve it.

The car had been on display at Mr Merkin's car-yard when it was stolen on Tuesday. He contacted police but had still not heard back from them late yesterday afternoon.

However a person claiming to know where the car was, and that it was destined for the North Island, did contact him. The money was paid and the car returned yesterday.

"It is a ransom really, isn't it? But it's like gambling, isn't it. You put money in a machine - it may come out, it may not," Mr Merkin said.

"[The car] may have come back but they were assuring me it wouldn't come back. And as we know, we don't see too many of those cars recovered.

"They were pretty determined it was going to the North Island or they would burn it for all they cared."

The Subaru WRX car, raced by Bourne in Australia and later used as a "recce car" by the late driver was taken from Mr Merkin's yard with a campervan and a jet ski.

The campervan was found abandoned nearby but the jet ski is still missing. Mr Merkin doubted he would see it again.

He said the noise of the rally car and distinctive signwriting and stickers would have made it difficult to hide.

It is also one of the few of its type in this country with left-hand drive.

When it was returned, many of the logos had been removed and the car's paint had been damaged.

Mr Merkin said he would now keep his prized piece of Possum Bourne history out of public view.

Christchurch police car squad head Detective Sergeant Tony Hill said he could not comment on the ransom payout without having examined all the facts of the case.

In October, $10,000 was paid for the return of a $250,000 Paul Dibble sculpture.