Pristine 50-year-old Ford Falcon to fetch more than $1 million

With $1 million in your bank account you could purchase the median home in Sydney, Melbourne or Canberra – or you could pick up this 50-year-old 'Holy Grail' Australian muscle car.

This 1971 Ford Falcon GT-HO Phase III is heading to auction in three days time where it is anticipated to fetch a number with seven figures.

At the time of publishing, the current bid on the vehicle was $715,000 with much of the money expected to come pouring in right before the gavel comes down.

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Sold by Lloyds auctioneers, the Phase III is just one of 12 vehicles that were ordered in the special "Yellow Glo" paint scheme, and features a distinctive Beige Vinyl Roof.

It is being re-offered to the market again after a non-settlement from a previous buyer.

"This car won outright Classic Grand Tourer at the Bathurst 2003 GT Nationals after a major restoration and runner up best restored Phase 3 at Adelaide GT Nationals in 2019.

"Running a fresh specification and period correct phase 3 solid engine with no mileage added in the last 18 years."

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The Phase III has just 30,875 miles (49,688 kilometres) on the odometer and features the legendary 5.8 litre 351 V8 mated to a four-speed manual gearbox.

In its heyday, the Phase III was widely regarded to be one of the best cars in the world.

Allan Moffat drove one example to win the Bathurst 500 in 1971 and the vehicle boasted a top speed of 228 km/h and a 0-100 km/h time of 6.9 seconds.

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It's estimated there are fewer than 100 remaining examples of the 300 examples that were produced.

In 2018 the Phase III attracted worldwide attention after Australian fast bowler Jeff Thomson sold his example for a then-record-breaking $1.03 million.

Do you have a vehicle gathering dust in the shed which might be worth a fortune? We'd love to hear your stories. Email Stuart at smarsh@nine.com.au

This particular vehicle is set be sold this weekend and an online listing of the car can be viewed here.

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