The iconic Australian car keeps going up in value!
A Yellow Glo Ford GTHO Phase III Falcon went under the hammer over the weekend, and fetched an astonishing price of $1.3 million in auction. This places the Ford Falcon car as the most expensive Australian classic sold at auction that you can actually register to drive on the road. It might be a big sale for the market, while not that uncommon in the United States, but not everyone is surprised by the sale.
"It is the pinnacle of Australian muscle cars and has consistently held its value over its lifespan since its release in 1971,” said Lloyds Auctions chief operating officer Lee Hames.
“So they attract bidders including enthusiasts, collectors as well as investors.
“This is a very special vehicle and we probably won’t see it come through auction again for quite some time.”
Along with the physical car, a digital representation of the car was sold as well, which is a growing trend, especially in overseas markets. Using digital currency, the item is stored in blockchain technology.
“The digital blockchain classic car auction has been up for only two weeks and already bids are far exceeding the original 1971 retail price of the Falcon at just over $5000,” Hames said.
“We have already received interest from some collectors of cars and art around the country who are excited by the opportunity in this first edition release.
“Based on the prices and enquiries we are seeing on this auction already, we expect digital classic cars to be the next big trend in collectable art.”
Bidding started early and aggressively for the 1971 Ford Falcon GTHO Phase III, with bids inching towards $1 million this time last week. Will we see similar trends pop up in the market down under?