This Lamborghini could be yours but here's the catch - it's a write-off

A $500,000 Lamborghini Huracan is for sale through a $1 reserve auction on Trade Me. Photo / Trade Me

Bids for the smashed-up Lamborghini listed on Trade Me with a $1 reserve price have now surpassed $50,000.

The written-off Lamborghini Huracan was reportedly involved in a single-car accident off-road, and is being sold by Star Auctions on behalf of an insurance company.

The auction listing says the 5.2 litre, V10 luxury sports car has a damaged chassis, and photos show almost all areas of the car have been affected by the crash, including heavy damage to the front of the vehicle.

However bids on the listing reached $51,200 just before midday today.

A new Huracan starts at around $400,000.

The engine is at the rear of the Lamborghini and appears to be undamaged - a factor likely to entice potential bidders.

A video posted on the auction site shows the engine starts and runs, and is almost brand new, with fewer than 1000km on the odometer.

Luxury car dealer Independent Prestige said the supercar can sell for around $500,000 depending on what extras are bought.

The car - or at least a working one - hits 100km/h in 3.2 seconds and has a top speed of more than 325km/hr.

However Auckland mechanic Mikhil Singh wasn't prepared to put his hand up for the car.

"No," he said, flat out, when asked if he'd pay more than $50,000 for it.

Mr Singh said there was a good chance that even once repaired the damaged chassis would make it difficult to pass compliance tests.

According to the NZTA any car that's been written-off needs to be referred to a specialist repair certifier.

To get certification, repairs must be done to within "safe tolerance of its state when manufactured".

Mr Singh estimated it would take $100,000 and six months of work to repair the car, which when new cost around $400,000.

But he said repairs to the chassis were complicated and may not pass the stringent certification test.

The engine is at the rear of the Lamborghini and appears to be undamaged. Photo / Trade Me

The Huracan, Spanish for Hurricane, debuted in 2014 and replaces the Lamborghini's most popular car, the Gallardo.

The auction closes on Wednesday March 30.