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Australian sports car aficionados will be able to relive the days when they could race against one another, but they’ll be looking to the big iron auction for their very own car of the past.

The winning bidder will have the opportunity to buy the supercar and use it as a trophy, or sell it for a profit to a private collector.

The event will be held at a large public event park in Hobart on the outskirts of Hobart.

The winner of the auction will be announced on Thursday.

The first two winners will be drawn from a panel of 12 people, who will select a new winner on Thursday, the day after the auction.

They will be notified on Friday morning and will then have the option of accepting or rejecting the bid, depending on the outcome of the competition.