It may not be asking big dollars like Holdens and Fords, but a Corolla is showing the strength of the classic car market.
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A low-mileage 1979 Toyota Corolla has sold at auction for twice its original purchase price, with the virtual hammer falling on a final bid of $12,750.

Rich Fowler from Collecting Cars Australia told CarAdvice the untampered condition of the Corolla contributed to the healthy price.

"We consigned the Corolla because it was in 'granny-spec' with just 31,000 kms and no modifications, it qualifies as an entry-level collector car," Mr Fowler said.

"Cars in this type of condition will always find a buyer, particularly as the car collecting market continues to grow and attract a younger audience."

While Holden and Ford muscle cars from the same era have been asking six- and seven-figure sums, it's believed $12,750 is one of the highest prices paid for a 1970s Toyota Corolla in original condition.

The 'KE55' Corolla sedan – which was built at AMI-Toyota's Port Melbourne factory – offers the new owner a total of 45kW from its 1.3-litre '4K-C' four-cylinder engine, powering the rear wheels via a three-speed automatic transmission.

Originally delivered by Le Mans Toyota in Melbourne for approximately $6240, and wearing period-correct green 'Garden State' number plates, this particular Corolla was the luxury 'CS' variant – offering buyers carpet, reclining cloth seats, and a clock.

"It is a real 'time capsule' and is sure to bring back great '70s and '80s memories for the buyer and be a popular car at car clubs and events," Mr Fowler added.

Did your family have a classic Toyota Corolla like this one? Let us know in the comments section.