Another week, another barn find, as more iconic Australian muscle cars come out of the woodwork.
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A 1971 Ford Falcon GTHO Phase III that’s a little worse for wear, not in original condition – and missing an engine – is still expected to fetch big money as it goes to auction this week.

Auction house Grays Online believes bids will reach in excess of $300,000. As this article was published, the bidding was already past $200,000 barely 24 hours after the auction went live online.

It is one of only 300 high performance road cars built by Ford to qualify for motor racing in the early 1970s – of which fewer than 100 genuine examples are suspected of still being in existence.

The vehicle is being put up for sale on behalf of a deceased estate and will be “sold as found”.

The vehicle’s bonafides have been authenticated by the seller, although the car has undergone numerous modifications over the years.

The buyer will likely restore it to original condition, which could increase its value to more than $500,000.

Previous prices paid for a Ford Falcon GTHO Phase III include $640,000 for an immaculate example just four months ago.

In recent years prices have ranged upwards of $700,000. About a decade ago, one was rumoured to have passed hands for $1 million, though that amount was not verified or published publicly.

There are no mechanicals in this car (pictured above and below) and it is considered a “rolling body” only.

Stickers on the back window and on the dashboard indicate the car may have been used in drag racing at some point in its life.

Although the buyer will need to tow it away, it does come with spare parts, including a Ford V8 engine block, a top-loader gearbox, and Cobra Jet “shaker”, and a spare radiator.

See the video below for more information.