Someone paid nearly half a million for a Ford Falcon with no engine

Tuesday, 6 October 2020

A Ford Falcon GTHO Phase III recently sold at auction for more than $400,000, despite it being 'attacked with an axe' and not having an engine.

The car sold on Grays Online and passed the AU$200k mark within 24 hours of listing. By the auction’s close it had reached $350k but that was still not enough to meet the reserve, despite the decrepit nature of the old road racer. It took negotiations after the auction to find the final AU$400,000 (NZ$430,680) sale price.

After the sale, it was revealed the bodywork held no fewer than 32 dents from an axe attack. The car was advertised as a rolling chassis without an engine so hopefully the anonymous buyer knew about the extra damage when agreeing to the price.

This battered GTHO Phase III sold recently for more than $400,000. It doesn’t have an engine.

In the description of the vehicle, the Grays Online website says: “We are selling this car on behalf of the executors of a deceased estate. It is a one owner GTHO Phase III. It does require a restoration to bring it back to its former glory.”

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Hopefully this 1970s racer will be brought back to its former glory and unleashed upon Aussie racetracks once more.

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That restoration is said to cost in the vicinity of AU$200,000 ()NZ$216,340) alone.

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

The website also advised: “Sale description is a guide only as (the) vehicle may have unsighted damage/issues. Full inspection is recommended.”

Ford Australia built 300 Phase III Falcons back in the early 1970s to qualify for racing and it is rumoured only 100 or so genuine examples are still around.

They are increasing in value, with one selling a few months ago for AU$640,000 (NZ$692,288). Apparently, one sold for more than $1 million but that’s just an urban legend. Probably.