A Ford Falcon GTHO Phase IV has broken the record for a Ford Australian Muscle car, selling for $2 million at auction over the weekend.
The extremely rare one of only three in the world Ford Falcon GTHO Phase IV achieved $2 million at auction on Saturday night smashing the previous record price for an Aussie Ford Muscle Car.
“This was a fantastic result for the classic car market which is growing from strength to strength. The anonymous Australian buyer is extremely excited about owning a piece of iconic Australian history,” said Brett Mudie, Chief Marketing Officer at Lloyds Auctions.
Legendary Bathurst winner Allan Moffat dropped the hammer in a ceremonial event with enthusiastic fans, alongside the Auctioneer selling one of Australia’s rarest muscle cars to its new custodian.
“It didn’t surprise me that the car sold for this amount. We were expecting it to smash the last record quite easily, with bidding already at $1.5 million 3 days before the auction. The Phase IV’s limited number, immaculate condition, celebrity affiliation (with links to Fred Gibson and Allan Moffat) along with its chrome bumper all contributed to the car selling at this price and will underpin its value into the future.” Mudie continued.
“With the Phase IV and more strong bidding on Phase III’s over the weekend, it really shows that the market is continuing to strengthen with an opportunity to own an enjoyable investment that seems to be rising in value at a faster rate than property,” said Mudie.
“There is a clear trend if you look at the number of records broken over the last six months in particular. The people buying these cars are hard-working Australians looking for a reward but also looking for something to invest in. Cars in original condition, with chrome bumpers, celebrity affiliation or prominent history are the ones that are rising in value first as we have seen again at this auction over the weekend,” continued Mudie.
In March this year an A9X Torana SLR 5000 sold for $365,000 doubling the original record for this type of car. In June Australian cricketer Jeff Thomson’s old Ford Falcon GTHO Phase III was the first of its kind to break $1 million in a public sale, then Peter Brock’s dual Bathurst winner more recently sold for $2.1 million. Now a Phase IV has achieved a record-breaking price for Ford Aussie Muscle Cars at $2 million.