The collection of more than 450 vehicles included everything from American muscle cars, prestige European classics and a number of Ford and Holden models.
Among the lots, a 1990 Commodore VN SS Group A - one of only 302 built - sold for $385,000, while a 1963 Mercedes-Benz 190SL convertible fetched $245,000.
A pair of limited build Holden GTSR Maloo utility classics that had never been washed or registered also went under the hammer.
A prized 2009 Holden W427 and a Holden Walkinshaw were others put up for sale.
The auction finished around 10pm on Saturday and was live-streamed to viewers across the country but also attracted international attention, said Lloyds Auctions operations chief Lee Hames.
"From the podium I could see the confidence in the bidding," he said.
"There was an incredibly strong sell-through rate."
Australian classics including Holdens and Fords continue to appreciate, with anything of limited build, celebrity affiliation or significant history increasing in value.
A classic Falcon fetched over $1 million, setting a record for iconic Australian cars, in late September.
The same weekend, a road-legal Holden HSV VS GTSR W1 sold for $750,000.
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