Eyesore of a collector's item

This Monaro, for auction with no reserve price, could go for $21,000.

If you are a Holden fan and have always dreamed of picking up a genuine 1969 HK GTS 327 "Bathurst model" Monaro at a bargain price, get hold of auction house Shannons in Melbourne.

There, among 43 vehicles up for grabs next Monday, you'll find the worst-looking Monaro you're likely to see in a month of Bathursts. And it's for sale to the highest bidder, with no reserve price.

But looks can be deceiving. Beneath its blotchy and blackened exterior and gutted interior, you'll find an ID tag that proves this Holden hobo to be the 227th HK 327 GTS built at Holden's Elizabeth plant in Adelaide.

It was originally a bright blue metallic coupe with a Jacana blue interior. It was last registered in January 1982 and has been off the road since.

Again, despite first appearances, the Monaro is largely complete and, most importantly, comes with matching chassis, engine and transmission numbers.

According to its owners, the Monaro Club of Victoria, the engine and gearbox have been rebuilt back to original factory specification. So have both rear quarter panels.

The car comes with a truckload of spare parts, most of which can be viewed on the club's website at www.monaroclubvic.asn.au.

The club estimates the Monaro, when restored, could be worth A$50,000-A$60,000 ($53,350-$64,000).

However, in its present condition, Shannons believes it may be snapped up for A$15,000-A$20,000 ($16,000-$21,400).

The Monaro is among 17 cars being sold with no reserve price. There are three other Holdens - a 1958 FC three-door Wagonette, a 1969 HT 308 Brougham and a 1974 HQ GTS 308 sedan.