‘Australia’s best’ Ford Falcon GTHO Phase III sets new price record

UPDATED 27/09/2021 11:00am: This Yellow Glo 1971 Ford Falcon GTHO Phase III set a new price record for an Australian-made production car on Saturday, going under the hammer for $1.3 million plus auction fees.

Beating the previous official auction record of $1.15m set by another XY GTHO Phase III earlier this year (but not the $1.75m reportedly paid for a 1972 XA Ford Falcon GTHO Phase IV race car in a private sale last month), the fully restored Hoey was one of just 300 XY Phase IIIs built and just 12 to wear Yellow Glo paint.

It was sold to an anonymous buyer after a flurry of phone and online bids in the Lloyds Auction, in which a 1996 HSV GTS-R with #001 build plate and XU3 Yellah paint also went for $1 million and a 2017 HSV GTSR W1 017 was sold for $750,000.

However, Lloyds said price negotiations for an HSV W1 Ute that was passed in are expected to lead to a final sale price that exceeds the $1.3m paid for the GTHO.

ORIGINAL ARTICLE PUBLISHED 22/09/2021 3:52pm: Another week, another Ford Falcon GTHO auction.

As Australian muscle car values continue to climb, a car claimed to be ‘Australia’s best’ Ford Falcon GTHO Phase III is going under the hammer this weekend.

The 1971 Hoey is one of 12 GTHOs to be finished in a vivid Yellow Glo paintwork, and is complete with a beige vinyl roof and a period-correct 5.8-litre V8 engine indicating 30,875 miles (49,688km) on the odometer.

Lloyds Auctions says the vehicle hasn’t been driven for the past 18 years and boasts accolades including outright Classic Grand Tourer winner at the Bathurst 2003 GT Nationals, and runner-up in the Best Restored category at the 2019 Adelaide GT Nationals.

At the time of writing, bids for the GTHO had reached $760,000 – a figure that could double by the time the hammer drops at 2pm (AEST) this Saturday.

“We expect this car to break Australian classic car records indefinitely. Its current bid is in the high six figures, and we expect it to reach anywhere between one and 1.5 million dollars come auction day,” said Lloyds Auctions chief operations officer Lee Hames.

At the time of its release, the Ford Falcon GTHO Phase III cost $5000 and boasted the distinguished title of the world’s fastest four-door production car.

Steeped in Bathurst glory, the Phase III became one of the most sought-after collector’s items among muscle car enthusiasts in Australia in the decades that followed.

“The Ford Falcon GTHO Phase III receives so much attention because it is the pinnacle of Australian muscle cars and has consistently held its value over its lifespan since its release in 1971, so they attract bidders including enthusiasts, collectors as well as investors,” said Hames.

“Not only is there the opportunity for bidders to purchase this rare Phase III in Yellow Glo but they also can purchase the ‘digital verified NFT’ art model of the exact same vehicle that come with some enticing benefits.

“This is a very special vehicle, and we probably won’t see it come through auction again for quite some time.”

Limited in production at the time of their release, Ford Falcon GTHO auctions have been a relatively common occurrence in recent years.

Just last month, an uber-rare XA Falcon GTHO Phase IV – one of only four built – sold for a reported $1.75 million, while earlier this year an immaculate 1971 Ford Falcon XY GTHO Phase III was snapped up for $1.15m by Sydney-based art collector and philanthropist Judith Neilson – a car we saw in the metal at its new gallery home in April.

Also on offer in this month’s Lloyds auction are vehicles from Hollywood blockbuster Mad Max – Fury Road, a trio of ultra-rare HSVs all wearing the tuner’s famous Yella hue and a super-rare Subaru Impreza ‘barn find’ rally car that’s also tipped to sell for around a million bucks.