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69 428CJ Mach1 originally exported to Japan

5.2K views 36 replies 18 participants last post by  flydoc65  
#1 ·
I have a few questions about an R-code 1969 Mach1 that I have come to know of. But first the story of how I learned about this car and its unique story. I was at our local cruise in a few days ago with my 70 fastback when a lady came up and started asking me where and who did my restoration. I told her that I did all of my own restoration on all of my mustangs. She then asked me if I ever do restorations for others and I told her that I just do it for myself and was not generally interested in restoring other peoples cars. Then I asked her what she had and that is when she told me that she had three different collector cars. A 1967 Cougar, and two 1969 Mach1's. One of the Mach's was a red 351 car that is her daily driver and the other was a 428CJ car that was originally exported to Japan from Ford to be sold to a business man. ( now she has my attention ) The Japanese business man sold the car to a military servicemen stationed in Japan a couple years after he had it imported. The servicemen brought the car back with him when he came home. When he got home he painted the car white with black Stripes it was originally black Jade with white interior. He then sold the car to a teenage kid while living in Sierra Vista AZ. When the kid kept getting in trouble with the car his parents took the car and sold it at a local car auction in Tucson AZ. Which is where this lady purchased this car in 1980. She has owned all three cars for over thirty years and says she just loves these cars. Her plan is to do a full concourse restoration on the 428 Mach1 back to its original condition as it was when it was originally built and exported to Japan. She wants to do a driver quality rebuild on the red 351 Mach1 to include drivetrain rebuild and new paint and interior. She wants to do a driver quality rebuild on the 67 Cougar with some minor restomoding to include a stroked motor and mild performance upgrades. She stopped driving the 428 mach1 about two years ago when she smelt gasoline leaking and was afraid it might catch fire. The car has 132K kilometers on the metric speedometer which means it has about 75k original miles. The car has all of its original sheet metal and never been in an accident that I can tell ( no body filler anywhere ). The undercarriage is perfect with no rust what so ever anywhere. This is an absolutely solid original car that has had a color change on the exterior and interior. She had all the interior panels covered with a black tweed about 25 years ago.

Here is my questions

1. What do you feel the value of this car is given the export and history. In its current state and what the value of this car after a full restoration.

2. The deluxe Marti report shows the car was final assembled in Japan, want to know how much assembly they had to do.

3. Looking at the options list it shows left shift headlamps what is this option. Possibly something to do with left hand drive.

4. There is no door tag on the car is that because the Japan Motors tag in the engine compartment take the place of that.

Any help or info you can give me would be great. Here is some pics of the cars.
 

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#8 ·
Shame it's an auto with the color changes....of course the colors will get made right - by you! HaHa How could you pass on fixing up that Japanese Mustang?
I have told her I am willing to restore it for her if she will allow me to. It would be the next car in my garage after I Finnish my current build.
 
#15 ·
That's interesting. I wonder why the first number thrown out here with a typical ridiculously-low-never-going-to-be-bought-for-that-price guess was between $8,900 and $3,900 lower than what Haggerty states the market value for that car is at it's worst condition?

Makes no sense!
 
#12 ·
That is cool.
A Japanese import Mustang.
Is this one of the signs of the apocalypse.
For your amusement.
 
#20 ·
I've brought up the same issue time and again since I registered here as it is absolutely perplexing to me, most recently in this thread....

http://forums.vintage-mustang.com/v...tang.com/vintage-mustang-forum/781730-opinion-needed-potential-new-owner-2.html

Here's one of my posts from that thread...

"See, this is what confuses me about Mustang prices in general. This is not a slam towards you in any way but I've read this same argument time and again on this site with the prices you've just quoted as insane, then I regularly see stuff go across the tv auctions like this....

1967 Ford Mustang | Mecum Auctions

An Eleanor clone that hammered this year for $150,000+ if I recall. Over 3 times the price you couldn't imagine a clone going for or being worth.

Again, not a disrespectful post by any means, I just can't figure out these Mustang prices. Quite honestly I'm starting to wish I never got into the Mustang market, and this is the very reason why.

When I was into Corvettes the pricing was soooo easy. I have a 1965 V8 coupe in good condition, here's the price you can expect. There was never, ever, such a GIANT disparity between ebay, televised auction prices and what the forum had to say....EVER! You rarely, if ever, heard people shocked at prices as they went across the block. Maybe something went for lower than usual price at an auction, Corvette world that would have been a conversation of.....That's odd, it shouldn't have went that low I wonder if there was something with the car we couldn't see. The same scenario in Mustang world would go....That's right, they should all be that low, hell, if you do a little leg work you can find them $10-12,000 cheaper all day long!

It seems like, and I've mentioned this before in other posts, anything on ebay or Mecum for example that sells for say $40,000 many people here are up in arms that it was priced wayyyyy to high and similar cars could be had for say $28-30,000 all dat every day. Maybe it's just this site, I don't know, but I've never encountered this with any other model of car before. It's almost like people are here doing their best daily to de-value Mustang prices in the minds of the public.

I just don't understand it"!


I never see prices like the ones that are routinely thrown out here! I was at a show this weekend and there were 3 mustangs with sale signs in the window. Two coupes ('67's) and 1 fastback ('65). Both the coupes were being sold in the $14,000-$16,000 range and were pretty nice although not "show cars", just nice drivers. The fastback was a GT350 clone that was definitely a driver! The paint was still glossy, just not in places where it was dinged or scratched :p and the interior was just ok. Nothing ripped or broken, just aging and dull. However, the engine was really nice and sounded great. Anyways, it was being sold for an asking of $27,500 with quite a bit of interest and prospects the gentleman was fielding questions from.

According to this forum those coupes would have a worth of around $8,000 and the fastback maybe $18,000-$20,000 with the $27,500 asking price only being achieved with a $50,000+ restoration done to it first becuase those prices are readily available all day every day all over the country!

Of course neither of those owners would have sold for those prices...I personally heard the owner of the fastback turn down a $22,000 offer.

There is an overwhelming wealth of knowledge on this forum and I enjoy talking to the members here, some of which are members on the Corvette forum that I've been a member of for the past 10+ years.

For questions relating to mechanics, trouble shooting, concourse correct or a myriad of other Mustang related things this is definitely the place! I haven't run across a single thing that hasn't been answered in a satisfactory level for me personally or for another member in a thread of theirs I'm reading.

However, for Mustang values this is absolutely the last place I would come for any type of advice!

Here are detailed pictures of a car I'm looking at...what's wrong with it? Yes, fantastic question for this forum! What's it worth? Not if I actually want to buy the car in the real world!
 
#21 · (Edited)
Indeed. I was astounded at the prices for the 69/70 Mach 1 Mustangs when I started looking in 2011. And these weren't pie-in-the-sky, "I saw one on Barrett-Jackson" situations. These cars were selling at those prices faster than I could contact the seller.

Prices have gone only up since 2011. So, yeah. No offense to Indianfirmach, but that first set of numbers is ridiculously low for a 428 Mach 1.
 
#24 ·
[QUOTE=Klutch;I think many people here just haven't kept up with recent developments in classic car prices. They recall some cars they sold, bought or knew of being bought and sold thinking it happened recently, but it actually happened 15+ years ago. Of course, there are a few anomalies. Every once in awhile, someone picks up a nice Mustang very cheaply. Those are the excepctions and not the rule.

I think this is an accurate statement and then occasionally a car like the one IMCOBRA is asking about comes along. Using the high priced and sometimes shady auctions or the self serving price guides is not a fair or accurate barometer for the what's going on in our world of restoration and ownership. Brian
 

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#27 ·
I think this is an accurate statement and then occasionally a car like the one IMCOBRA is asking about comes along. Using the high priced and sometimes shady auctions or the self serving price guides is not a fair or accurate barometer for the what's going on in our world of restoration and ownership. Brian
I'm not saying the televised auction prices are the end-all be-all final say on prices. Neither are the price guides for that matter.

But there's a common ground between those two avenues and every day life. This thread is a perfect example. You have a car that somebody gave a "fair real-world" estimate on that's 10's of thousands under the price that somebody could actually buy it for!

I'm not going to show up to look at any rust-free '69 428CJ fastback in good condition anywhere in the country and go home with it for $20,000-$25,000.

Somewhere between that ridiculous nonsense and the potentially higher prices of auctions and price guides there's a common ground. I feel that common ground is much, much, closer to the second and not very far off.

That's just my personal opinion.
 
#25 ·
I think Indianfiremach is way off on his $20k-$25k estimate on the value of this car. I can tell you she would never sell it for that amount. She is a very nice lady and knows what she has. She had two different appraisers come and appraise the car two years ago. One appraised it for 115k and the other was 57k just goes to show you the level of incompetence of some people in the collector car world. I would say this car is worth some where around 40k in its current state. She does not really want to sell the car so it probably does not matter. She prefers to see the car get a full restoration and then may entertain the thoughts of selling it to the right person.

Still curious if anyone knows how much assembly of the car they would have had to do in Japan when they imported it.
 
#28 ·
I think Indianfiremach is way off on his $20k-$25k estimate on the value of this car. I can tell you she would never sell it for that amount. She is a very nice lady and knows what she has. She had two different appraisers come and appraise the car two years ago. One appraised it for 115k and the other was 57k just goes to show you the level of incompetence of some people in the collector car world. I would say this car is worth some where around 40k in its current state. She does not really want to sell the car so it probably does not matter. She prefers to see the car get a full restoration and then may entertain the thoughts of selling it to the right person.

Still curious if anyone knows how much assembly of the car they would have had to do in Japan when they imported it.
This is where the confusion comes in for me in the Mustang world.

These two supposed professionals came in with basically a $50,000 difference in their appraisals. Which is closer to the actual number? Then to take a step further you came in nearly $20,000 lower than the lowest appraisal!

We're looking at somewhere in the range of $75,000 between professional appraisers, which weren't on the same page at all, and your assessment!

I think the appraisers are much closer to the true number than your number. Which one is closest is the big question. Again, my opinion, you're not getting a rust-free original equipment '69 428CJ fastback for $40,000.
 
#29 ·
Sorry to keep posting but this is driving me nuts!!

This is the very first site I've come across with a simple google search...

1969 Ford Mustang Mach 1 For Sale on ClassicCars.com - 43 Available

Look at the prices for the '69 fastbacks! The vast majority of those cars are 351's and 390's. They are nice cars but they're commanding soooo much more money than any BS number VMF members would throw out for a comparable car.

The few 428CJ's they have are priced starting at $70,000 going to $120,000!

The cheapest vehicle there is $15,000 for a rusted out POS body with a steering wheel!
 
#31 · (Edited)
love the car, no idea what its worth, but that is one nice ride.

when I was stationed in Japan, I shipped a 70 challenger, 440, 4 spd knowing I would leave it. Inspection station didn't make me modify or change anything. it was actually pretty easy to get parts over there, big muscle car network in Tokyo. Matson shipped it for free from los angles. (one car authorized) nothing stolen, no damage, two miles put on odometer. car got me laid so many times.... sold it 6 months before I left, sold in one day, 10k higher than I was asking. small bidding war. came back with a Harley special ordered with serviceman overseas discount.
 
#32 · (Edited)
I was speaking as someone who just bought a '69 R code / 4 speed Mach, but who also didn't look at the pictures close enough. That car looks to be in better shape than mine and is undoubtedly worth more, so yes, my estimate should be moved up especially if it's rust free which I must have missed. Looks like a neat car. The period paint / mods hold the value back some but with a restore to stock the sky's the limit on that car. Love the tilt wheel and AC, makes for a very comfortable car.
 
#35 ·
As I was reading this thread it reminded me that foreign buyers are at least partly responsible for high prices. The last few posts are getting that. The foreign buyers are far different from local buyers. When they are in the market price is not a big issue and they want it perfect and they want it now. It's a far different world from going to swap meets or finding a bargain at a farm sale. And brokers will pay high prices to get an even higher price overseas.