Ford GTHO sets new auction record for a muscle car at Bonhams & Goodmans

On Sunday 25 March 2007, Bonhams & Goodman held a major sale of collectors’ cars, motorcycles and automobilia simultaneously in Melbourne and Sydney with a live feed to car enthusiasts in Perth.

A new auction record was set with the sale of lot 16, a superbly restored original Ford Falcon GTHO Phase III. The car sold for $683,650 (including buyer’s premium).

The famed GTHO was developed for racing and is the ultimate Falcon GT. The prototype was built in 1969 and prepared for the long distance race at Bathurst. Allan Moffat went on to achieve back to back victories in phase II and III versions of the car in 1970 and 1971.

The ‘muscle car’ was hotly contested by telephone bidders and those present in the Melbourne and Sydney salerooms. Bidding opened at $400,000 and bids for the car raced, keeping auctioneer and Chief Executive Officer Tim Goodman busy. Goodman eventually brought down the hammer to a Sydney enthusiast bidding on the telephone.

Another highlight at the auction was the sale of one of the world’s best Bentleys. Lot 25, a c.1925 3/4 1/2 litre Bentley, superbly restored to ‘Old Mother Gun’ specification sold to an international buyer from the Netherlands on the phone for $480,250. Interest in car came from far and wide as evidence by telephone bidding from the USA and Europe. The car was also contented in the Melbourne saleroom.

“Whilst it saddens me a little to see cars like the Bentley go overseas, we are fortunate to be able to offer these special cars to a global audience, thereby achieving the best result for the vendor,” says Goodman. “This auction further affirms Bonhams & Goodman’s enviable position in the collectors’ cars market and sets the scene for an exciting year ahead”.

Robert Glover, National Head of Collectors’ Cars who joined Bonhams & Goodman earlier this year from Bonhams in the United Kingdom has had a fabulous auction debut and echoes Goodman’s sentiments. “I am confident that we will continue to raise the profile of the Motoring Department both here and overseas through these national format auctions”, Glover says.

Other cars that performed well at the auction include Lot 24, a 1999 Maserati Quattroporte which sold for $40,680. The proceeds from the sale of the vehicle are being kindly donated by the vendor to the Royal Flying Doctor Service of Australia. Bonhams & Goodman has also donated the seller’s commission to the Service. Lot 20, A 1972 Rolls-Royce Corniche Drophead Coupe sold for $84,750.

The next Bonhams & Goodman sale of Collectors’ Cars is scheduled to take place on 24 June 2007