Ford's classic GTHO Phase III has appreciated at more than 20,000 per cent since new.
A prime example of Australia's most renowned muscle car, the 1971 Ford Falcon GTHO Phase III, has sold at auction for more than $1,000,000. In 1971 the price for a new version as a little over $5000.
Sold by Lloyds Auctions at its classic car auction at Bathurst, the price is said to be a first for Australia and will open the floodgates for other owners looking to cash in on a car that is now worth more than the Australian median house price and all major cities except Sydney.
“Now we have taken it into the 7 digits we expect to be inundated by Phase 3 owners and buyers which is exciting for all classic car collectors and investors around Australia” said head auctioneer at Lloyds classic car auctions, Bill Freeman.
The vehicle that went under the hammer was once owned by Australia fast bowling legend Jeff Thomson and came with all its original equipment including seat belts, spare tyre, log book and even a picture of 'Thommo' sitting in the car.. The Aussie cricketer sold the vehicle more than 30 years ago to its current owner for $23,000.
A rare Holden Torana A9X also sold at the Lloyds auction for $500,000. The car was one of 33 examples ever made and only had 14km on the odometer.
While both prices might seem extreme for some Australia muscle car heritage, the number 4 NSW licence plate that sold last year to a Chinese businessman for $2.45m eclipses all.