UPDATE: The Electric Blue Phase III sold for $1.15 million.

Another week, another blue chip Aussie muscle car looks set to attract mega bucks at auction. Namely, an Electric Blue Phase III GTHO Ford Falcon.

And it is not alone. Also up for grabs are an E49 Valiant Charger, an A9X Torana hatch, an LJ GTR XU-1 Torana, a 350 GTS HQ Monaro, an HSV GTS-R W1 sedan and a Maloo GTS-R. Plus, a Datsun 260Z for good measure.

The star of the group is undoubtedly the GTHO, one of only seven examples produced in Electric Blue with black trim.

The XY was restored by its previous-to-last owner Mark Lamb in 1998 and went on to win the top gong at the GT Nationals in 1999, again in 2003 and was runner-up in 2011.

It also appeared in the television advert filmed at Mt Panorama for the release of the FPV BA GT.

After 25 years of ownership, Lamb auctioned the XY through Shannons in 2016. It passed in for $480,000, but was reportedly later sold for a higher figure.

The collection is currently up for auction by Slattery Auctions and Valuations, concluding Monday 15 February, at 6pm Perth time.

The cars were previously owned by Perth businessman Chris Marco, and have been put up for auction by the receivers of Mr Marco’s AMS Holdings (WA) Pty Ltd.

Mr Marco’s unregistered managed investment scheme was wound up under Federal Court orders in December last year.

The judgement alleges the 132 investors may be owed at least $240 million by AMS Holdings.

Bidding for the Phase III currently sits at $800,000, followed by the A9X at $376,000 and the W1 at $355,000. Will the HO beat the record set the the W1 Maloo ute that sold for $1.05 million in January? You can keep an eye on the bidding here to find out.