An extremely rare Ford has sold for just over $1 million dollars at auction over the weekend, in what’s believed to be a first for classic cars in Australia.

The previous record for a Ford GTHO Phase III was $700k more than 10 years ago.

Bill Freeman, Head Auctioneer at Lloyds auctions told Tom Elliott this car was once owned by an famous Aussie sportsman.

“It was a beautiful car, great history, the Australian fast bowler Jeff Thomson had owned it previously,” Bill said.

“It was just a great example of the holy grail of Australian muscle cars.

“Cars have really gone up in value in the last couple of years, we were expecting that sort of sum.”

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“It’s the ultimate Australian muscle car ever built in this country,” Tom said.

The GTHO Phase III sold for about $5000 in the 1970s.

Bill said an Australian investor in his 50s paid the record breaking sum to add to his collection of classic muscle cars.

Photo: Fairfax Regional Media