Australian muscle car prices are again booming in the final year of local manufacturing, with a duo of restored Ford Falcon GT-HO Phase II examples selling for $500,000-plus.

Chris Dent from Falcon GT Restorations confirmed to MOTOR that following the sale of a ‘surfer orange’ 1970 XW – in conjunction with the Muscle Car Sales retailer – for $500,000 last month, another ‘tru blue’ example with factory sunroof has now exceeded that figure.

Ford Falcon GT HO Phase II orange
Ford Falcon GT HO Phase II sells for 500K rear
Ford Falcon GT HO Phase II blue engine

Although rarer than these just-sold 1970 XW GT-HO Phase II examples, with only 300 produced, in 2007 a 1971 XY GT-HO Phase III sold for an astonishing $750,000 – eclipsing the previous record of $683,000 for a similar example sold earlier in that year.

Ford Falcon GT HO Phase II orange engine

Whether nostalgia for these Bathurst-conquering limited edition Australian muscle cars spurs pricing even further remains to be seen, although the October 20 end date of local manufacturing could spur along proceedings.