GT and GTHO go up in shed fire

[R0BD0G]

local toowoomba chronicle from today

Fire destroys iconic cars
June 20, 2008
By Louise O'Keeffe

FOREST Hill resident Stephen Taylor is shattered after losing two iconic Australian cars worth an estimated $900,000 in a fire.

The cars were lost when fire gutted a storage shed on his property on Wednesday evening.

Mr Taylor lost a 1971 Ford Falcon XY GTHO Phase III, one of the most expensive muscle cars in Australia.

There were only 300 GTHOs made and it is estimated that only 100 are left today. Just last year, a GTHO sold for a massive $750,000.

Mr Taylor bought his car in 1981 for $8500 from a friend who had bought it in Inverell in New South Wales.

The car was an original and unrestored model in yellow ochre with black trim. Only 37 cars were released in that particular colour.

Mr Taylor said the second Falcon was a 1971 XY GT and was valued at $150,000. He had bought it in 1979.

"I am just gutted," Mr Taylor said.

"I had to go to Ipswich Hospital on Monday with a kidney stone problem.

"My wife Marion had picked me up and we were driving home when my neighbours called me to say the garage was on fire.

"I couldn't believe how much damage there was to the cars and shed."

Police investigated the fire which it is thought was caused by an electrical fault. While both cars and the shed were insured, Mr Taylor said the cars were priceless to him.

"I had many offers to sell the HO, but I was never interested in the money," he said. "I don't know if I will buy another Phase III. But I am sure I will get another XY."

Mr Taylor said he treasured the help from his neighbours who rushed to the shed in Tarantall Road.

"Brett and Joel Anderson and Philip and Michaela Hannants were just so wonderful," he said.

[blackers10]

OUCH!!
lets hope he was insured...
but still another HO lost

[uranium_death]

Originally Posted by blackers10

lets hope he was insured...

Originally Posted by The Article

While both cars and the shed were insured, Mr Taylor said the cars were priceless to him.

A genuine tragedy.
It sucks when just when he and his wife are at the hospital, the electrical fault just happens to occur then!

Tragic luck...

[WindsorXR]

Holy crap is all I can say.
I think the guy may wanna call the suicide hotline. Poor fella!!
I don't think I'm far off either. That is so damn bad.

[Rock ape]

Its a sad day today.

[DJM83]

Wonder what the insurance premium is on a GTHO of that value is, pity though my historic cars gone.

[Kryton]

on a brighter note, a Forrest Hill resident is now $800000 richer than he would have been if this happened 5 years ago.

[Whitey-AMG]

I doubt the Insurance will pay out to the sum we all think.........

I Think there is a limit for these cars. I remember hearing somewhere that Shannons would only insure up to 200K or thereabouts ???..........If that's true, this guy will be bleeding.......BIG TIME.

What people are prepared to pay at Auctions is sometimes at odds with insurance interpretation of "market value".......

[AusM]

Originally Posted by ESP

I doubt the Insurance will pay out to the sum we all think.........
I Think there is a limit for these cars. I remember hearing somewhere that Shannons would only insure up to 200K or thereabouts ???..........If that's true, this guy will be bleeding.......BIG TIME.
What people are prepared to pay at Auctions is sometimes at odds with insurance interpretation of "market value".......

If that's the case, they should take that GT-HO commercial off the air - misleading advertising! Let's see how much passion they really have...

[tweeked]

And every other Phase 3 owner a bit richer also. I know how i feel if i scratch my BA, cant imagine how he would feel :(

[bob 351]

Originally Posted by davway

on a brighter note, a Forrest Hill resident is now $800000 richer than he would have been if this happened 5 years ago.

I FEEL SAD FOR THE POOR BLOKE I REALY THINK THE MONEY DOES NOT MATTER THAT MUCH I THINK HE WOULD RATHER HIS CARS

[WindsorXR]

Maybe it's a big hoax???? He might have stashed the GT's away and bought two cheap XY's?? Insurance payout here we go!!!

[Mr_4.0]

Originally Posted by WhatsMyUserName

Maybe it's a big hoax???? He might have stashed the GT's away and bought two cheap XY's?? Insurance payout here we go!!!

EXACTLY WAT I THOUGHT!!!!!! except maybe he never had an original to start with. just managed to get insurance for one though years ago! when he really only had an xy, or an xy gt.

[XAGSV8]

Originally Posted by Mr_4.0

EXACTLY WAT I THOUGHT!!!!!! except maybe he never had an original to start with. just managed to get insurance for one though years ago! when he really only had an xy, or an xy gt.

What a stupid comment. There are ways to tell if its the real deal without a compliance plate. Think before you type.

[Abacus]

Originally Posted by Mr_4.0

EXACTLY WAT I THOUGHT!!!!!! except maybe he never had an original to start with. just managed to get insurance for one though years ago! when he really only had an xy, or an xy gt.

Idiot.

[conordec]

Originally Posted by WhatsMyUserName

Maybe it's a big hoax???? He might have stashed the GT's away and bought two cheap XY's?? Insurance payout here we go!!!

just found your user name.... spanner.

well a spanner is a tool no?

[4Vman]

Tragic news, but they'll most likely be able to rebuild them as restored cars....

[prydey]

the guy said selling them was never an option regardless of what price they may bring so i'm tipping he'll be pretty beat up for a while. they may be insured but money can't replace those sort of cars.

[Stefan]

Originally Posted by 4Vman

Tragic news, but they'll most likely be able to rebuild them as restored cars....

Yep, if the P3 was insured for say 2 or 3 hundred K, I'm sure the insurance company could just deliver the shell to Grand Tourer Restos and get the thing rebuilt... most of the time everything gets rebuilt or replaced anyway.

[4Vman]

Originally Posted by Stefan

Yep, if the P3 was insured for say 2 or 3 hundred K, I'm sure the insurance company could just deliver the shell to Grand Tourer Restos and get the thing rebuilt... most of the time everything gets rebuilt or replaced anyway.

Exactly.. You could do a ground up resto/rebuild from a twisted rusty shell for about 100-120K.... it will be far cheaper for the insurance company to repair it than write it off.... the car is "worth" far more than its repair cost even if its a smouldering crumpled mess.

[fergus]

Originally Posted by 4Vman

Exactly.. You could do a ground up resto/rebuild from a twisted rusty shell for about 100-120K.... it will be far cheaper for the insurance company to repair it than write it off.... the car is "worth" far more than its repair cost even if its a smouldering crumpled mess.

I hope the compliance plate was salvaged! London to a brick it melted in the fire.

Reading 84RGE's post, the motor was a rebuilt 2 bolt 351 crate motor?

So assuming the body was even salvagable, they would end up with an HO shell that had no compliance plate and no original engine.

How much would the rebuilt car be worth?
Would it be cost effective to rebuild?

[Stefan]

Originally Posted by fergus

I hope the compliance plate was salvaged! London to a brick it melted in the fire.

Reading 84RGE's post, the motor was a rebuilt 2 bolt 351 crate motor?

So assuming the body was even salvagable, they would end up with an HO shell that had no compliance plate and no original engine.

How much would the rebuilt car be worth?
Would it be cost effective to rebuild?

Um those are the specs for a Phase 3 engine dude. It says nothing about a non -original Block. In any case engine blocks don't have a huge effect on P3 values as you'll be hard pressed to find one with the original engine and when you do, how can you ever prove without a doubt it is the original engine not a re-stamped block from the states.

If the compliance plate is gone i'd still think it'd be worth $200K+ restored to spec.

[apolloxbgt]

Originally Posted by 4Vman

Exactly.. You could do a ground up resto/rebuild from a twisted rusty shell for about 100-120K.... it will be far cheaper for the insurance company to repair it than write it off.... the car is "worth" far more than its repair cost even if its a smouldering crumpled mess.

Originally Posted by 4Vman

Some positive news... I heard last night from a friend of steve's that both cars are going to be repaired/restored.

I'm sorry,but if you don't honestly believe this do you???

Ever heard of a STATUTORY WRIGHT OFF ???

Those cars are gone forever,being that they were insured they will be logged as stat wright offs,and so they should.
There is no way those shells would retain anywhere near the strength they did from factory.

[Nikked]

Originally Posted by apolloxbgt

I'm sorry,but if you don't honestly believe this do you???

Ever heard of a STATUTORY WRIGHT OFF ???

Those cars are gone forever,being that they were insured they will be logged as stat wright offs,and so they should.
There is no way those shells would retain anywhere near the strength they did from factory.

yep, your correct, its big shame though.

[4Vman]

Originally Posted by apolloxbgt

I'm sorry,but if you don't honestly believe this do you???

Ever heard of a STATUTORY WRIGHT OFF ???

Those cars are gone forever,being that they were insured they will be logged as stat wright offs,and so they should.
There is no way those shells would retain anywhere near the strength they did from factory.

What on earth are you talking about????

The cars in question are going to be repaired from what i was told last week, im also told the insurance company is being most helpful and co-operative with helping and assisting with organising the repairs...

[R0BD0G]

local gossip says hes already tracked down another GT

[RegSpec]

That is absolutely tragic....no other word for it :

[F6T]

That is the worst thing I have read in a long time. poor bastard. such a bloody shame. I just can't believe it.

[Nath_xr]

This is tragic, I know the guy and the cars, they were immaculate and very well looked after it's such a shame. Still can't believe it

[zx10]

Poor fella, I really feel for him. Tragic, just tragic.