A 50-year-old Ford has set a new record at auction, flying past the mark a Holden set just days ago

A legendary Ford has reclaimed bragging rights over Holden, snaring the title of the most expensive Australian-built car to sell at auction.

Australia’s new record holder for a locally-built car sold at auction.

It’s got no aircon, no ABS and definitely no CD player, but a 1971 Ford XY Falcon GT-HO Phase III now has the record for the most money spent on an Australian-built car at auction.

Toppling a record set by a Holden just two and a half weeks ago, the pristine Ford sold for $1.15 million under the hammer, with the buyer also having to cough up a 5.5 per cent buyer’s premium.

Slattery Auctions asset manager Steve Waterman said the car was bought by a lawyer representing an anonymous buyer.

The auction attracted huge interest, so much so that the auction site crashed on Monday night, just a minute before it was scheduled to close.

The Falcon GTHO was built to win at Bathurst. Pictured is Allan Moffat driving to victory with cardboard box covering his radiator in 1971. Picture: Supplied

Mr Waterman said despite the company seriously beefing up the website capacity, the traffic was just too much, with the auction, which included the Ford and another seven vintage cars, rescheduled for Tuesday.

The serious bidders received a private link to the second auction, and bidding kicked off again at 4pm Perth Time.

No longer a record holder - the 2017 Holden HSV GTSR W1 Maloo Ute which went for more than $1 million just a few weeks ago.

The previous record price for an Australian-built road car was set in late January, with an orange Holden HSV GTSR W1 Maloo Ute – one of only four ever made - changing hands for $1.05m. Coincidentally, it knocked another Falcon GT-HO from the top spot, with that vehicle selling for $1.03m. The limited edition Maloo was offered to and built exclusively for only four hardcore HSV fans in the lead up to Holden ceasing Australian manufacturing.

The cars in the collection auctioned in Perth this week were previously owned by Perth businessman Chris Marco, whose investment scheme failed allegedly owing at least $240 million to investors.

Chris Marco had assembled a premium collection of mostly Australian vintage cars.

Other cars in the collection included a 1977 Holden LX Torana A9X – one of only two to be painted “Super Mint Green”. That changed hands for $435,000.

A 2017 HSV GTSR W1 went for $365,000 and a 2017 HSV Maloo GTSR which still has the factory plastic on the seats and has been driven just 20km sold for $230,500.

All up the eight cars in the auction went for a total of $2.954m.

This GTSR W1 has just 50km on the clock.

There were four serious bidders eyeing off the GT-HO in the lead-up to the auction, Mr Waterman said.

The auction went over-time by about 10 minutes, to allow the final bidders to tussle it out.

The GT-HO had been completely rebuilt, and had been driven just 17,340km in 50 years.