Aussie rejects $730K bid for Falcon

You might recall our story on the 1971 Australian Falcon GTHO Phase 3. These rare race cars are a huge hit amongst deep pocketed collectors. There was speculation last year that of three hundred that were built, only a handful remain in pristine condition, and that a one-million dollar auction was not too far away.

Well just recently a beautiful silver and black specimen went for sale in Brisbane. Surprisingly, the owners turned down a record high bid of $730,000. Here’s the story as reported by James O’Loan:

About 1000 car enthusiasts stood shoulder-to-shoulder in the Brisbane Convention and Exhibition Centre to watch 23 cars go under the hammer, but only one caught their collective imagination.

The “Silver Ghost”, a 1971 Ford Falcon XY GT HO Phase 3, reputed to be one of the best in its class, was at its illusive best.

Brisbane owners Darren and Sheree Ross said although the bid was a record for the model, it failed to match the value it should in the niche market of classic Australian muscle cars.

“That car is worth every dollar bid here today and then some,” Mr Ross said. “It’s always going to be for sale but at the right price.”

Only 10 cars were sold at the auction, the first in years to be run in Brisbane by auctioneers Shannons.

Shannons’ NSW auction adviser Damien Duigan said the bidding was “slightly disappointing”, particularly for heritage-listed registration plates, many of which were passed in.

He said despite the huge turnout, activity was more frenetic at auctions in Melbourne and Sydney.

Mr Duigan said the top-end car market had slumped a little from last year’s peak as more owners decided to take their cars to market.

The auction was part of this year’s Brisbane International Motor Show at the convention centre, which ended its 10-day run last night.