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http://www.news.com.au/heraldsun/story/0,21985,21451999-2862,00.html
THE man who bought the last Monaro has just paid a record $680,000 for a 36-year-old Falcon that isn't even registered.
Darryl Mattingley outbid a field of rivals to pay $683,650 for a rare 1971 Ford Falcon GTHO Phase III at a classic car auction in Melbourne on Sunday. It is the highest price ever paid for an Australian muscle car at auction and is way above what similar cars have fetched before.
Mr Mattingley, a car enthusiast who owns a housing removal company in central Queensland, also bought the last Holden Monaro for $187,600 when it was auctioned on the online eBay auction site last year.
Yesterday he wasn't sure why he paid so much. "I don't know, I must be silly," he joked,
"But I wouldn't have done it if I hadn't been happy with it."
The 56-year-old said he had been chasing a GTHO Phase III for quite a while and he had put months of consideration into his latest investment, including consulting his wife, Shelly.
"She was helping with the bidding and the financing," he said.
"It's not something you do without approval. It's a big investment."
The father of five said he would not drive the car, keeping it as an investment. He was building up a collection that he hopes to sell in the future.
The car has just over 25,000 miles (40,000km) on the clock.
The 1971 GTHO Phase III cars were originally developed for racing at Bathurst and only 300 were ever made.
Not all have survived, which has contributed to their increasing value.
The national head of collectors' cars, from auctioneers Bonhams & Goodman's, Robert Glover, said this restored model was in perfect condition.
But they didn't expect it to fetch as much as
it did.
"We initially estimated the car at $500,000 plus, but it became clear near the time that it was going to do a bit more than that, and to say that we're surprised by the results is true.
Bidding started at $400,000, with three parties battling it out until the end.
"I wouldn't have been shocked if it had been more really, but I was at my limit," Mr Mattingley said.
The GTHO now joins Mr Mattingley's collection of 20 classics, mainly old muscle cars including a GT Phase III.
Mr Mattingley said he developed an interest in muscle cars when he began working on them as an apprentice motor mechanic in the 1970s.
It's not just large cars that have caught his attention. He owns Mini Minors and Mini Mokes.
It is believed the previous owner of this record-setting GTHO Phase III bought it seven years ago for about $100,000.
Mr Glover said he expected the muscle car trend to continue, and wouldn't be surprised if they reached $1 million in future sales.
Ford power: the rare 1971 Ford Falcon GTHO Phase III next to a Rolls-Royce that sold for $36,160. Picture: Toby Zerna
THE man who bought the last Monaro has just paid a record $680,000 for a 36-year-old Falcon that isn't even registered.
Darryl Mattingley outbid a field of rivals to pay $683,650 for a rare 1971 Ford Falcon GTHO Phase III at a classic car auction in Melbourne on Sunday. It is the highest price ever paid for an Australian muscle car at auction and is way above what similar cars have fetched before.
Mr Mattingley, a car enthusiast who owns a housing removal company in central Queensland, also bought the last Holden Monaro for $187,600 when it was auctioned on the online eBay auction site last year.
Yesterday he wasn't sure why he paid so much. "I don't know, I must be silly," he joked,
"But I wouldn't have done it if I hadn't been happy with it."
The 56-year-old said he had been chasing a GTHO Phase III for quite a while and he had put months of consideration into his latest investment, including consulting his wife, Shelly.
"She was helping with the bidding and the financing," he said.
"It's not something you do without approval. It's a big investment."
The father of five said he would not drive the car, keeping it as an investment. He was building up a collection that he hopes to sell in the future.
The car has just over 25,000 miles (40,000km) on the clock.
The 1971 GTHO Phase III cars were originally developed for racing at Bathurst and only 300 were ever made.
Not all have survived, which has contributed to their increasing value.
The national head of collectors' cars, from auctioneers Bonhams & Goodman's, Robert Glover, said this restored model was in perfect condition.
But they didn't expect it to fetch as much as
it did.
"We initially estimated the car at $500,000 plus, but it became clear near the time that it was going to do a bit more than that, and to say that we're surprised by the results is true.
Bidding started at $400,000, with three parties battling it out until the end.
"I wouldn't have been shocked if it had been more really, but I was at my limit," Mr Mattingley said.
The GTHO now joins Mr Mattingley's collection of 20 classics, mainly old muscle cars including a GT Phase III.
Mr Mattingley said he developed an interest in muscle cars when he began working on them as an apprentice motor mechanic in the 1970s.
It's not just large cars that have caught his attention. He owns Mini Minors and Mini Mokes.
It is believed the previous owner of this record-setting GTHO Phase III bought it seven years ago for about $100,000.
Mr Glover said he expected the muscle car trend to continue, and wouldn't be surprised if they reached $1 million in future sales.
