2 min readMelbourneFeb 14, 2011 10:47 AM IST
First published on: Feb 14, 2011 at 10:47 AM IST
The 2007 model Bentley Continental GTC,owned by Indian tycoon Pankaj Oswal and worth more than average cost of an Australian house,is all set for sale next week.
The white sportscar,owned by Oswal’s flagship company Burrup Fertilisers,is one of the four luxury vehicles owned by Oswal that receivers PPB Advisory have put up for sale to appease the creditors.
The Bentley,a four-wheel drive Porsche Cayenne and two BMWs would be sold by Manheim auction house in Perth on February 24.
The combined value of these four cars when purchased was about 750,000 dollars.
Manheim general manager Brian Mobbs said the luxury cars were already attracting interest.
“We do get some Ferraris and Lamborghinis and those sorts of cars that are up around the same standing as the Bentley,but one of the unique things about this car is that it is very low kilometres — just 10,000 kms,” he said,adding people looking for prestige cars at that level don’t really want cars that look second-hand.
“It doesn’t really wash with them.”
Industry sources say Bentley could fetch 300,000 Australian dollars and still be a bargain.
According to ‘The Australian’,Oswal has not been seen in Perth ever since his empire began to crumble last year.
Meanwhile,Oswal family’s spokesperson,Chris Codrington has confirmed that they the Oswals were still trying to sell their partly built 70 million dollar Peppermint Grove mansion — known in Perth as the “Taj Mahal on Swan” because of its ornate columns and arches.
It was going to be Australia’s most expensive home but is now likely to be flattened by developers.
“It’s still on the market. There are people who have shown interest,there’s been a number of them,and negotiations are continuing,” Codrington said yesterday.
“As of Friday,when I last spoke to the Oswals it had not been sold and the suggestion by some media that it had been sold for around 20 million dollars was treated with laughter.”
Oswal and his socialite wife Radhika Oswal paid 23 million dollars four years ago for their 6600 square metre riverside block and were reportedly spending up to 40 million dollars building their dream home.
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