May 14, 2010

$500,000 for a 40 y.o. Falcon?

At : $500,000 for a 40 y.o. Falcon?

they've gone for higher than that before

If I had that kind of coin lying around I snap it up.

There was a story a couple of years ago about a guy who had an unrestored GTHO Phase 3 in original mint condition for $1mill. Was offered 4 new Porsches for it and he declined.

$500k is a lot, I think I would rather buy an unmolested E49 Charger and a nice XA GT.

XB GT for 1/5 the price, yes please!

Call me tasteless, but I'd buy a house or new car collection if I won $500K in the lotto.

You have to be an obscenely rich car collector to actually buy the GTHO.

Ford XY Falcon GT-HO Phase III goes for $331,000 at auction

June 1st, 2010

A fully restored Monza Green 1971 Ford XY Falcon GT-HO Phase III lead the charge at Shannons Melbourne Winter Auction yesterday, sparking a fierce bidding war and eventually selling above its estimated price range for $331,000.

At : Ford XY Falcon GT-HO Phase III goes for $331,000 at auction | Car Advice | News | Reviews

So they are now half price, last one I saw sold for over 950k after stamp duties etc were paid.

In these difficult financial times, with the likes of the Greek economy collapsing we may never see the legendary GTHO phase III this cheap again. This in fact may be bargain basement. The only problem with owning such a car is that it is purely now only an investment. I dont think that you would have the nuts to actually drive the thing. But hey who would not like to have one sitting in your garage?

I think the shine has gone off the rare car market to some extent for good. I do not see the same prices being commanded for the GTHO, R/T Chargers or rare Holdens. My reasoning behind this is the market was boosted by baby boomers who got all nostalgic over cars they could not afford when young or speculators trying to cashin on a superheated desirable car market. I mean seriously the prices of borderline cars was creeping up, but now it has all collapsed.

Due to the economy, superannuation rules and common sence, I think the days of $700k+ GTHO's is over as for the rest of the market, I think the price will become more stable. People will look less at these cars being investments and more a peronal collection thing.