A near-showroom condition late 70s Holden Torana with just 475 kilometres on the clock is expected to fetch in excess of $500,000 when it is auctioned off online next week.

The ultra-rare 1977 Holden Torana A9X GMP&A is being auctioned off by Pickles on September 2.

Dressed in its factory white coat of paint, the Torana was originally prepared for racing by Peter Malloy of Pat Burke Racing, Sydney but was never actually raced.

It then became part of wealthy car collector Pat Burke's "Modena Collection" until it was purchased by famed Western Australian collector Paul Terry and displayed at his Esplanade Extravaganza Gallery in Albany.

Because of its intended use on the race track, this particular Torana comes boasting extraordinary power figures: the 8-cylinder 5.0-litre engine fitted by Malloy is understood to produce in the region of 400 brake horsepower.

It also comes fitted with Simmons 3-piece alloy wheels with gold centres, 225/50x15 Pirelli P7 tyres, a Warner T10 4-speed manual transmission, Recaro seats and Selby suspension.

What increases the rarity – and hence the value – of this particular example is that only 33 of these particular vehicles were ever built, with many destroyed during their racing careers.

According to the auction listing, the vehicle has never been registered for the road and still drives like it did in the early 1980s.

"The car starts readily and the fabulous engine and exhaust sound are evocative of an era of racing which is long gone," the vehicle's provenance states.

"The owner describes the experience of driving the car to be ‘just like driving a brand-new car - it's as tight as a drum’, which is not surprising given the car's remarkable history."

If the Torana manages to crack the half-million mark it will join a bevy of vintage Aussie muscle cars currently having their time under the auction spotlight.

Earlier this year a canary yellow coupe A9X took home $275,000 at auction, and a race-spec Torana once driven by Sir Jack Brabham took home $392,000.

If that wasn't astonishing enough – considering these cars cost $10,000-$15,000 new – a 1977 full racing-spec Holden A9X Hatchback Torana from Bob Morris' stable fetched $744,000 including buyer's premium at an auction in May 2017.

"A more original an example than this is hardly likely to exist. An inspection of this car is sure to more than impress," reads the auction listing.

"It is a remarkable motorcar with an amazing story and pedigree - easily likened to a piece of preserved artwork - a unique item reminding us in a most tangible way of one of Australia's most important V8 racing cars."