Rare rough diamond GT Falcon up for auction

Dilapidated condition won’t deter online bidders jostling to secure this rare one owner Ford Falcon GT HO Phase 3.

It’s missing both headlights, has mismatched tyres, no engine and a bonnet that doesn’t fit right, but this rare Aussie muscle car is set to fetch a half million dollars or more when it goes under the hammer this week, according to leading auction house Grays. 

The rough-as-guts Falcon is a rare GT HO Phase 3, the most valuable and sought-after Aussie Muscle Car ever produced, examples of which have recently sold for up to $1 million. 

It is one of only 300 high-performance road cars built by Ford to qualify for motor racing in the early 1970s – of which fewer than 100 genuine examples are suspected of still being in existence. 

The one-owner car is being auctioned as part of a deceased estate. Its former owner a passionate Ford enthusiast who purchased it new in Werribee, a suburb of Melbourne, before parking it up in 1980 and never driving it again.     

The car is in need of full restoration but that won’t hold, back its price, according to Grays Classic Car specialist, Rian Gaffy. 

“I doubt there would be another one-owner Ford Falcon GT HO Phase 3 left in Australia. After undergoing a restoration, this car could be worth around $800,000,” Mr Gaffy said.

“The GT HO Phase 3 is without a doubt the most collectable and valuable Australian muscle car of all time. Nearly all Phase 3 Falcons have had multiple owners and (their) history is sometimes clouded. This car being a one-owner eliminates any doubt about its validity.” 

At the time of writing online bidding had already surpassed $250,000 and Mr Gaffy said he expected a flurry of bidding that could exceed $500,000 before the hammer fell at 7.45pm on Wednesday 30 September.