Peugeot 205 GTi sets world record price

Peugeot's iconic 205 GTi hot hatch has set a new world record auction price, with a pristine 1989 example going under the hammer in the UK for £30,938 (about $A53,000) – about $20,000 more than its anticipated reserve.

First registered in May 1989, the only slightly modified silver 205 GTi was put into storage in 2004 after covering just 12,852km, before being sold by Britain’s Silverstone Auctions.

A pioneer of an automotive formula that is now more popular than ever, the 205 GTi is regarded as one of the 1980s' best hot hatches and underpinned Peugeot Sport’s racing foundations by scoring significant successes in world and national rallying.

The 205 GTi celebrated its 30th anniversary in 2015 and, to mark the occasion, Peugeot Australia released 25 examples of the limited-edition 208 GTi 30th.

Peugeot Australia’s marketing and communications manager Dimitri Andreatidis, who helped oversee his company's full restoration of a 205 GTi locally, said the sale price was not surprising.

“Vehicles of this era are now more popular than ever and finding a good example is a challenge -- it’s part of the reason we decided to restore an Australian-delivered 205 GTi,” he said.

“Over the last year our technical and aftersales teams have worked with external parties to see this vehicle returned to its former glory.

“We wanted to ensure we remained faithful to the history of the vehicle so in some places we have left the original paint and patina to reflect its faithful 230,000km and 27 years of service."

As part of its restoration, it was stripped to bare metal and resprayed, its exterior plastics were refurbished and the alloy wheels sand-blasted and completely reconditioned. Period-correct Michelin tyres were fitted and Peugeot Genuine Parts used wherever possible.

Because some original parts couldn't be sourced, Peugeot Australia enlisted a 3D printer to reproduce smaller parts including the spindles on the air-conditioning control unit.

The steering wheel was completely restored by hand with new leather and even the instrument dials were hand-painted as part of the interior restoration.

Several unique-to-Australia challenges arose during the resto, including sourcing the correct grey rear valance panel fitted for most markets, rather than the optional red valance fitted to almost all Australian-spec examples.

Peugeot Australia debuted its restored 1989 205 GTi at the Peugeot Club of NSW’s recent All-French Car Day, where it claimed Best 205 GTi honours in a field of 12 vehicles.

Once registered, it will be rolled out at a wide variety of marketing, dealer and media events.