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.

[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?

[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

[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

[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!

[Stefan]

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

[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.

[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.

[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.

[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....

[PHATAL]

Yes but then he does own a phase three...... hard life LOL

[falcon_bandit]

dont understand why owners of these are holding out for so much.

amounts already offered are life changing.

[HO 3]

Originally Posted by falcon_bandit

dont understand why owners of these are holding out for so much.

amounts already offered are life changing.

.............because you can when its an original parts car like this one is. It hasnt been stuffed under a Kenworth and rebuilt from a gearbox and compliance plate like some others.

Cheers Mick

[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.

[XB GS 351 Coupe]

Originally Posted by falcon_bandit

dont understand why owners of these are holding out for so much.

amounts already offered are life changing.

One word : 'Greed'

[CoupeKing]

Need to take into consideration that money means %*&^ to some people. An old timer that bought her new couldnt give a &^%$ if it's worth $1.00 or ten million, regardless of what Wozza's mate rekons she's werf <--- who would have probably tubbed it.

[Ford17]

There's definitely a set window of opportunity for selling collectible cars at their maximum value.

And lessons can be learned from these GT-HO stories.

The ideal market conditions for selling must be where there are plenty of people who couldn't afford them when new and lusted after them, but who now can afford to buy them many years later; and when the economy is vibrant/optimistic.

Once those who want and can remember these old/collectible cars have gone, then the window of opportunity has passed.

Just like with old MG's, Mark II Jags, etc - in demand 20-30 years ago, but kids today would have little interest in them.