Friday, 17 March 2006, 5:07 pm

Bonhams & Goodman auctions expected to return big prices - for old cars and for Frances Hodgkins paintings.

Australia’s second biggest auction house Bonhams and Goodman are expected to return record prices at their March auctions in Sydney starting this week.

Bonhams and Goodman, 20 percent owned by New Zealand listed company Mowbrays, have had their auction house status in Australia lifted to No.2 behind Sothebys, after Christie’s announced last week they would be closing operations in Australia.

The upcoming six days of major auctions, starting with collectable cars on Sunday, are estimated to return a total of over $A6 million.

Bonhams & Goodman (B & G) turned over $27million last year, believed to be the second largest result of any general fine art auction house in Australia.

B & G is seen as the fastest growing auction house in Australia. In 2004 they sold 20 percent stake to NZ stamp dealer Mowbrays and last year they acquired a major share in Bruce’s of Adelaide, the oldest auction house established in 1878 and South Australian representative of Christie’s for 30 years.

More than 20,000 people are expected to attend the six days of public viewings and day and evening auctions later this month. The value of the six days of sales is estimated at $A7-10 million. Over $A3million worth of rare and valuable cars are expected to attract bidding from around Australia and internationally later this month.

The collectors’ car auction on Sunday includes some of the finest classic cars to be offered in Australasia. A superb 1927 Bentley six and a half litre Speed 6 Le Mans sport tourer is estimated to fetch up to $A780,000

Other star lots include a Mercedes-Benz 300SL Gullwing with rudge wheels up to $A600,000 ($437,175.19 US dollars) and a Mercedes-Benz 300SL Roadster up to $A500,000 ($364,259.54 US dollars).

The auctions will conclude on March 29 with the much anticipated sale of Australian, Aboriginal and international art including over 200 pictures from the estate of the late Angus WR MacDonald.