Ford Falcon GTHO Phase III sets new auction record: $1.15 million

Australians are continuing to pay record money for iconic Fords and Holdens – and experts predict the numbers will continue to climb for the foreseeable future. A fully restored 1971 Ford Falcon XY GT-HO Phase III – which, according to The Australian newspaper, was previously owned by a Perth businessman whose investment scheme failed while owing at least $240 million to investors – sold last night for $1.15 million making it the highest price paid for an Australian-built road car.