Classic Aussie muscle car market still strong

The classic Australian muscle car market is doing just fine according to auction heavyweight Shannons, despite desirable models like a Ford Falcon XY GT-HO Phase III failing to reach astronomical pre-GFC values recently.

The Phase III in question sold for around $500,000 soon after it was passed in at auction (some $20,000 under its highest expectation), but that is still almost 100 times more than what the car cost when it rolled out of the factory.

“Aussie muscle cars are actually doing really well,” says Christophe Boribon, Shannons National Auctions Manager. “Pre-GFC figures were ridiculous and did not make sense; they were outstripping comparable world market cars.How was a ’67 Shelby GT500 Fastback Mustang worth half of a Phase III Falcon, an Australia-only car?

“But in the last 12-18 months there has been a resurgence of Ford, Holden and Chrysler products, whether or not that’s being driven by the closure of Ford and Holden I don’t know, but there’s money out there and people are looking at putting that back into Aussie muscle.”

Boribon says to expect improvements in the prices of “second-tier” cars like Ford Fairmont GS and GXLs and Valiant Pacers and also points to a generational change in collectable Australian cars.

“There’s a bit of a trend happening in ‘80s cars and vehicles like 5.0-litre VH SL/E Commodores and VK and VL SS Group As are appreciating in prices, so there is some growth in that ‘80s market.”

And if you’ve got a special late-model Ford or Holden in your garage then it might be worth hanging onto it because they will start to appreciate in value too, Boribon reckons.

“Something that is made in limited numbers, has big horsepower, or is highly optioned is bound to have a level of collectability in the future, like two-door Monaros, highly-specced HSVs and limited production Fords like the Cobra tribute and most recently the Falcon Sprint. When that will be is hard to answer.”