For our Australian readers, this classic is one of the most iconic muscle cars to roll off a production line Down Under. It is a 1971 Ford XY Falcon GT, and it has been part of the same family since Day One. Its current owner parked it on blocks thirty-six years ago, and it has only recently seen the light of day again. He has decided that the car needs to go to a new home, so he has listed it for sale here at Lloyds Auctioneers and Valuers. The bidding has already hit A$165,000, and if history is any indicator, there is a long way to go before the hammer falls on this auction.

Before delving too deeply into this Falcon, it is worth reflecting on the core differences between the muscle car scene in Australia and that of North America. The Australian scene essentially didn’t exist before 1967. In that year, Ford introduced its first Falcon GT, partly as a “halo” model. The other part of Ford’s motivation was based on the “win on Sunday, sell on Monday” philosophy. Australia’s unique motor racing regulations at the time saw a prestigious production car endurance race conducted every October at Bathurst’s iconic Mount Panorama circuit. Victory in that race almost inevitably equated to success in the showroom. Thus, the cost of developing a GT version of the Falcon was justified due to increased showroom sales across the entire Falcon range. Based on the standard Falcon, the original GT featured a 289ci V8 that produced 225hp. That power found its way to the rear wheels via a four-speed manual transmission. With each successive version of the Falcon GT, engine capacities increased, as did power outputs. Some readers may wonder why most Australian muscle cars were based on sedans rather than coupes or hardtops. This was purely a matter of economics and related to low sales volumes. The Australian new car market was about 10% of that for North America during this period. That meant it was not financially viable to produce specific body styles for muscle cars. The buying public craved the practicality of four doors, and manufacturers were eager to please. The “Big Three” did dabble in such vehicles, with Holden’s Monaro, Chrysler’s Valiant Charger, and the later Falcon Hardtop as notable examples. However, the sales volumes didn’t justify their existence, and these disappeared from the market fairly quickly.

Turning our attention to our feature car, the original owner purchased it and used it as a regular driver for some years before handing it on to his son. The son was the person that placed the car into storage thirty-six years ago. It has remained untouched for the entire time and wears a healthy coating of dust. Below that dust is its original Yellow Ochre paint, and this appears like it might be in good condition for a survivor-grade car. The seller doesn’t indicate any restoration work on this GT, and there’s no evidence of any in the supplied photos. It features the iconic black stripes over the hood and down either side, with the distinctive “Super Roo” decals in the side stripes. The panels are straight, but the best news is this Falcon’s lack of apparent rust. If neglected, that could be a problem with these cars, but it doesn’t appear to be one with our feature GT. The exterior trim is present and seems to be free from physical damage. The buyer will need to clean everything thoroughly to determine whether anything needs to go to the platers, and I believe that the rear bumper may be one item that would benefit from this type of treatment. The grille is in good condition and features its original factory driving lights. One of the defining features of the XY Falcon GT was its shaker hood, and this is intact on this car. This Falcon rolls on its original five-slot GT wheels, and these retain their original trim rings and center caps. The restoration of this car looks like it could be pretty straightforward, but the buyer may choose to detail the vehicle and retain it as is as an original survivor. That is an approach that has some merit in Australia’s current classic car market.

While the original 1967 XR Falcon GT may have featured a 289 Windsor V8 under the hood, things had changed remarkably by the 1971 XY Falcon GT. Lifting the hood of this classic reveals its original 351ci Cleveland V8 that pumped out an “official” 300hp. That power found its way to a limited-slip rear end via a four-speed Top Loader manual transmission. Buyers could choose between a standard and a close-ratio transmission to suit their needs. The GT was a seriously fast family sedan, and as was the case so often during this period, many people believe that Ford significantly underestimated the V8’s power output. Common wisdom suggests that the figure was probably closer to 350hp. Off the showroom floor, the GT could cover the ¼ mile in 14.2 seconds before finding its way to 135mph. That Cleveland rolled out of the factory equipped with a rev limiter, and with this removed, the car could top 140mph. Because it has been sitting for nearly four decades, this Falcon will require plenty of TLC and careful attention before the new owner coaxes that V8 back to life. Due to the relative rarity and increasing value of these cars in today’s market, it will be worth taking the time to ensure that this work is completed to the highest standard.

Opening this Falcon’s doors reveals one of the few changes this car has experienced throughout its life. When it rolled off the production line, Ford had trimmed its interior in black vinyl. The original owner swapped this for white in around 1972, but it isn’t clear why he chose to do this. It may have been for practical purposes because the blazing Australian summer sun and black vinyl trim can lead to a very unpleasant experience for anyone climbing into the car wearing shorts. Sadly, I speak of this from bitter experience. Trust me when I say that it is an experience that leaves its share of psychological (and physical) scars! The upholstered surfaces are free from tears or physical damage, but they are pretty dirty after thirty-six years. I don’t believe that anything will require replacement, but the entire area will need a deep clean to present at its best once again. Alternatively, the buyer could return the interior to its original black trim. The trade-off is that the original vinyl is no longer available, and any new upholstery will be a reproduction. If I were to buy this car, I would be tempted to leave things as they currently stand.

While Ford based the GT on the humble Falcon family sedan, it did come with a few desirable touches. Buyers could not order a GT with a bench front seat, with low-back buckets being the only choice. Nestled between those seats is a console with the transmission shifter poking through, while the glove compartment door and console both wear distinctive badges to denote this as a GT with a 351 under the hood. The dash houses a selection of gauges to monitor the health of that Cleveland beast, while it also features a factory tachometer and the speedometer marked to 140mph. Adding touches of luxury are faux-timber inserts on the dash and door trims, a rimblow wheel, and an AM radio. These features remain intact, although the wheel does wear an aftermarket wrap.

During the early 1980s, cars like this 1971 Ford XY Falcon GT fell out of favor with the buying public. However, several factors saw this situation change dramatically. In 1982, you could buy a spotless example of the GT for the equivalent of one year’s average Australian wage. Around this time, Ford Australia announced that they would be dropping the V8 option from their Falcon line. This saw buyers begin to clamor for a genuine Falcon GT, and values started to climb relentlessly. Today, pristine examples sell for around A$300,000, but that figure continues to balloon. This car will appeal to people who subscribe to the “they’re only original once” philosophy. That means that we could potentially see the price top that A$300,000 mark, and if it hits A$400,000, I won’t be surprised. With the Australian vehicle manufacturing industry now little more than a distant memory, cars like this 1971 Ford XY Falcon GT have become even more desirable. This auction should be worth watching.