Classic Falcon bids to top $1 million

Finished in Yellow Glow, which was a special order colour back in 1971 and only used on 12 cars, the 5.8 litre V8 four-door sedan has already attracted a top offer of more than $750,000 ahead of the close of Saturday's online auction.

Lloyds Auction Chief Operations Officer Lee Hames says the car is expected to sell for anything between $1 million and $1.5 million.

"The Ford Falcon GTHO Phase III receives so much attention because it is the pinnacle of Australian muscle cars and has consistently held its value over its lifespan since its release in 1971," he said.

"So they attract bidders including enthusiasts, collectors as well as investors.

"This is a very special vehicle and we probably won't see it come through auction again for quite some time."

Ahead of the Phase III release, Ford's Phase II model proved itself in dominating Bathurst to take first and second with Alan Moffat and Bruce McPhee in factory works cars.

The new Phase III brought further engine enhancements and refinements, entrenching the car as probably the fastest four-door in the world.

As well as the car itself, Lloyds is also auctioning a digital artistic representation of the Falcon, dipping into a growing trend.

Known as an NFT or non-fungible token, it is an item of value stored on an internet technology called blockchain.

The digital asset is certified as unique and comes with proof of ownership.

"The digital blockchain classic car auction has been up for only two weeks and already bids are far exceeding the original 1971 retail price of the Falcon at just over $5000," Mr Hames said.

"We have already received interest from some collectors of cars and art around the country who are excited by the opportunity in this first edition release.

"Based on the prices and enquiries we are seeing on this auction already, we expect digital classic cars to be the next big trend in collectable art."

Australian Associated Press