INVESTMENT: Shannon’s Melbourne Autumn Auction today features legendary 1971 Phase III GT-HO Falcon which should fetch over half a million.
INVESTMENT: Shannon’s Melbourne Autumn Auction today features legendary 1971 Phase III GT-HO Falcon which should fetch over half a million. Iain Curry

Got a spare $500,000? Phase III GT-HO going under the hammer

*UPDATE 03/05/2016 09.30am*

The $500,000-valued Phase III GT-HO Falcon was passed in at auction last night, meaning it did not find a buyer.

Highest prices of the evening were for Jaguar E-Types: a 1966 Series 1 had a winning bid of $136,000, trumped by a 1967 example for $142,000.

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BEEN saving up for that Phase III GT-HO Falcon? Time to break the piggy bank then as an electric blue example is going under the hammer today at Shannon's Melbourne Autumn Auction.

Better hope the piggy bank is full though. Estimate range for the matching-numbers 1971 legend is $470,000-$520,000, and it could go markedly higher if previous GT-HO sales are anything to go by.

The Phase III retains all its trademark HO parts, and was restored back to original factory specification in 1998 by its current owner of 25 years.

The GT-HO headlines a host of performance classics at the auction, which includes a 1973 Holden LJ Torana GT-R XU-1 Coupe with an estimate of $45,000-$55,000.

Two Ford Mustangs, a Citroen DS, two Jaguar E-Types, two Porsche 911s and a Ferrari 412 will also go under the hammer in Melbourne.

1973 Holden LJ Torana GT-R XU-1 Coupe. Photo: Contributed.
1973 Holden LJ Torana GT-R XU-1 Coupe. Photo: Contributed.

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