The $500,000-valued Phase III GT-HO Falcon was passed in at auction

[csv8]

*UPDATE 03/05/2016 09.30am*

"The $500,000-valued Phase III GT-HO Falcon was passed in at auction last night, meaning it did not find a buyer.

Highest prices of the evening were for Jaguar E-Types: a 1966 Series 1 had a winning bid of $136,000, trumped by a 1967 example for $142,000.

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Better hope the piggy bank is full though. Estimate range for the matching-numbers 1971 legend is $470,000-$520,000, and it could go markedly higher if previous GT-HO sales are anything to go by.

The Phase III retains all its trademark HO parts, and was restored back to original factory specification in 1998 by its current owner of 25 years.

The GT-HO headlines a host of performance classics at the auction, which includes a 1973 Holden LJ Torana GT-R XU-1 Coupe with an estimate of $45,000-$55,000.

Two Ford Mustangs, a Citroen DS, two Jaguar E-Types, two Porsche 911s and a Ferrari 412 will also go under the hammer in Melbourne."
http://www.themorningbulletin.com.au...ammer/3011893/

[Trump]

The days of paying $500K for an Australian muscle car are long gone, especially when examples like this are about:

http://www.carsales.com.au/private/d...-3832318/?Cr=2

and mint Phase II's for $149K:

http://www.carsales.com.au/private/d...-3572573/?Cr=1

[whitelion65]

OK Loud, but that one is only a repro!

[Trump]

Originally Posted by whitelion65

OK Loud, but that one is only a repro!

It is, but they dilute the price of the genuine examples.

[csv8]

Originally Posted by whitelion65

OK Loud, but that one is only a repro!

A repro ? "The Phase III retains all its trademark HO parts, and was restored back to original factory specification in 1998 by its current owner of 25 years."

[Trump]

Originally Posted by csv8

A repro ? "The Phase III retains all its trademark HO parts, and was restored back to original factory specification in 1998 by its current owner of 25 years."

The one I posted is a repro

[Ford17]

This caught my interest several years ago:

In 2008: Owners reject $730,000 bid for 1971 Ford Falcon XY

From the article: "That car is worth every dollar bid here today and then some"

And what looks like the same car, was then for sale in 2010 for $525k:

https://www.australianmusclecarsales...ver-ghost.html

.

[FERG_51]

The XW in Loud Noises post looks to be great value.

[zoesgift]

Originally Posted by FERG_51

The XW in Loud Noises post looks to be great value.

for those interested this car is an april 1970 gtho which means it is NOT a phase 2 rather a hydraulic Cleveland powered phase 1 often referred to as a phase 1.5. strictly speaking a phase 2 will have at the earliest a 6/70 compliance have a close ratio top loader with long extension housing RUGAS1 tag 31, spline Detroit locker rear end, and be a SOLID LIFTER motor car...totally different beast altogether to drive and to pay for!

[FERG_51]

Originally Posted by zoesgift

for those interested this car is an april 1970 gtho which means it is NOT a phase 2 rather a hydraulic Cleveland powered phase 1 often referred to as a phase 1.5. strictly speaking a phase 2 will have at the earliest a 6/70 compliance have a close ratio top loader with long extension housing RUGAS1 tag 31, spline Detroit locker rear end, and be a SOLID LIFTER motor car...totally different beast altogether to drive and to pay for!

Still a nice car but I see what you mean. Out of curiosity what do you think that car is worth? I'm one of those that have grown up with these cars and would be happy with even a standard GT but will never have the coin to own one at current prices. Thanks for the info.

[Brian_H]

When I was a 12 year old and that beautiful blue Hoey was new it was my dream car above all others - in that Blue too. My heart would literally skip a beat and I'd get a tingle up my spine as one would drive past (in any colour). We'd run through all the shopping centre car parks looking for GTHO's, me and my mates, just so we could oogle (not google!) inside and see the speedos which, from memory, ran to 160MPH? It would more than make our day simply to find one Hoey a weekend and stare at it all over 'til the owner returned and usually told us to **** off - thought we had bad designs on it probably! So many memories looking at that picture. that blue colour in that car really gets my teenage juices going again!

BTW - anyone know the name of that blue?

[zoesgift]

Originally Posted by FERG_51

Still a nice car but I see what you mean. Out of curiosity what do you think that car is worth? I'm one of those that have grown up with these cars and would be happy with even a standard GT but will never have the coin to own one at current prices. Thanks for the info.

to be honest ive never seen the car in the flesh but I believe its been for sale for a long time on and off the internet with varying prices. there are from the pics various things in the engine bay, which from a concourse view, would need to be corrected at the very least however. if you are in a position to spend this sort of money and you want a correct car this needs to be factored in by the purchaser. the days of buying a muscle car now with a high asking price tag and not caring about what is right or wrong are gone imho.

[ford71V8]

Absolutely!
And in my favourite colour

[Pepscobra]

What ever happened to the $1M Phase III...?
From memory, it was the only one ever made in Silver Pewter?

[Sprint]

Originally Posted by Pepscobra

What ever happened to the $1M Phase III...?
From memory, it was the only one ever made in Silver Pewter?

A std ford escort sold for 1 million dollars, it was pope john pauls

[Stefan]

That P3 should have sold for $480K, but who knows what the reserve was, no guarantee it was $500K. Ambitious seller IMO.

[Rallye Sport]

Originally Posted by Sprint

A std ford escort sold for 1 million dollars, it was pope john pauls

I wonder if it was shipped to Ireland for use in club rallying

I don't think the interest in the Falcon GT's will ever stop, most enthusiasts/ owners will have kids, grandkids, nieces and nephews that will all know about dads, granddads or uncles 'special old car'
As for potential future owners, I'm not giving up hope, I'd like to think I could be one, when we retire in twenty five years or so, downsize the house and realistically my little fleet of cars, I'd definitely be looking for one. For me it'd be the ultimate tribute to my years of being a car guy.

[uniacidz]

Yeh those higher prices before the GFC were crazy and now they have settled.

I dont think the high prices will be back anytime soon if at all

[snopony]

I guess it comes down to if you had the money type thing.
Id want to be sure it was genuine. I did read a news article regarding a couple that sold an xw at a huge price as being genuine gt... the new owner took them to court as turns out it wasnt.
cant remember much of the details but there were enough irregularities that they were ordered to refund.

[outback_ute]

Brian H -- the speedo topped out at 140mph, as per the famous Wheels photo. This car is Electric Blue.

Does anyone know what it was passed in at?

Edit: the Shannons website now says it has sold, but no price is disclosed.

[Silver Ghia]

According to the Shannons website, the subject Phase III Falcon has now been sold.

No indication of price however.


Edit: O/B ute sorry, missed your edit.

[zoesgift]

nothing like chandelier bids at auctions is there why would you pay 48k buyers premium just to have an electric blue phase3? the car is a well known restored car and for a long time regarded as the best restoration out there.(its probably at 20 yr old resto!!!) its an older resto but obviously very well looked after for the last 25 odd years by the same owner. from memory it was a very good car to start with. if you search the internet for long enough there used to be very nice looking prior to resto engine bay shots of the car. congrats to the new owner!

[mr smith]

Went over to Shannons to have a look on Sunday before the auctions. Most of the cars looked like they had been detailed with steel wool. The blue E Type was meant to have been painted in 2011 or something and there were so many swirls in the paint it was shocking. The Phase 3 looked OK but not $500K OK.

[HO 3]

Originally Posted by Silver Ghia

According to the Shannons website, the subject Phase III Falcon has now been sold.

No indication of price however.


Edit: O/B ute sorry, missed your edit.

If that is the case sound like someone in the room wanted the car after all, a good end result.

Cheers Mick

[zoesgift]

crickets....can we hear the crickets?

[XB GS 351 Coupe]

Originally Posted by HO 3

If that is the case sound like someone in the room wanted the car after all, a good end result.

Cheers Mick

Yes but not for the asking price or auction starting bid.

[HO 3]

Originally Posted by XB GS 351 Coupe

Yes but not for the asking price or auction starting bid.

Oh bugger me, and I thought ML was happy with the sale price.................please enlighten us, and this time without mention of your realestate portfolio or other irrelevant information.

Cheers Mick

[XB GS 351 Coupe]

Originally Posted by HO 3

Oh bugger me, and I thought ML was happy with the sale price.................please enlighten us, and this time without mention of your realestate portfolio or other irrelevant information.

Cheers Mick

I have no idea if he was happy, but it certainly did not sell at auction for the price that was asked, otherwise it would have sold at auction.

Pretty basic stuff really.

I am guessing the owner realised that his prized vehicle is not worth what he though it would be worth, and accepted what ever offer he got to get out of a fast depreciating asset, before it depreciated even more.

So the owner was smart enough to know when it was time to bail and take his money and run even though he did not get what he originally wanted

Originally Posted by 98TLS

Pity your elders never gave you a thick ear when you got gobby.No offence intended nor doubting whatever/however/how many cars/houses etc etc you have but it seems cant distinguish between a bar and the net,take a walk down to your local and voice what you type and see what happens.

They did, telling it how it is is not being gobby as you call it.

Everyone claims they appreciate the truth, but when you tell them the truth you are considered to be an *******.

May be people just need to accept how it is and they won't be offended.

Not a big fan of the pub as I have better things to spend my spare time and my hard earned on than to **** it up against a wall with some drunk yobbos.

[buggerlugs]

Wife's Uncle was offered $975k for his one owner Phase 3 with 22,000 miles on it in the boom times. He held out wanting the big million. Never got it and can't get $600k for it now....

[XB GS 351 Coupe]

Originally Posted by buggerlugs

Wife's Uncle was offered $975k for his one owner Phase 3 with 22,000 miles on it in the boom times. He held out wanting the big million. Never got it and can't get $600k for it now....

Should have taken the money and run, he could now buy the car back for 400K and have pocketed the difference.

They will never be worth anything even remotely close to $975K again, and considering he paid 5K for it back in the day.

I still regret as a 20 year old I looked at a mint red XY GT HO being sold for 25K ono, was an old Greek bloke selling it to do some renovations on his house at Greystanes in Sydney. Was talked out of it by my old man who was not a car person in the slightest and he convinced me I was mad paying drug money for an 'old **** box' (his words not mine). I had the cash sitting in the bank as I was working in an oil refinery at the time earning big money.

Ended up buying a Mazda 323 Sport for 9K instead, which ended up being stolen and burned out a year later.