[sheza65]

I need a reality check. What are some of the ball park figures you see for unrestored Q codes vs R code Mach 1's actually selling currently.

What can you expect to pay for a complete (minus the AC), unrestored 69 Mach 1, running Q code, automatic with minimal rust in a fender, top of fender aprons, and door corner (relatively solid underneath)?

How about a value for the same car with an average restoration? Keeping the car otherwise original, does adding a shaker & 4 speed help the value?

Here are a few pics of what I'm considering:

 

[happystang]

Well shoot I wish I could find a few those laying around... :O

 

[sheza65]

How much weight do you give to the values here:
https://www.hagerty.com/valuationtools/HVT/VehicleSearch/Report?vbe=86042

Clearly the above pictured car is not a #4 driver, so what would you guys say is fair to pay as is & then when restored to a #2?

 

[69DroptopGT]

The dael with cobrajet, do not add stuff to how it came new. It will not increase worth b/c cost of the parts needed. Q codes tend to sell at a lower dollar. Autos do also. People that buy them usually are looking at what they came from the factory with, not what it currently has. I paid 15.5k for a 1969 R code driver that needed a lot of work (new floors). interior decent. Mach1 with fold down seats, and correct shaker assembly. Supposed to be a cobrajet engine but only way for me to know is when I remove it. They told me it was not the original engine. The shake assembly is worth more than 2k so I figured I wont go wrong with it.

 

[happystang]

The dael with cobrajet, do not add stuff to how it came new. It will not increase worth b/c cost of the parts needed. Q codes tend to sell at a lower dollar. Autos do also. People that buy them usually are looking at what they came from the factory with, not what it currently has. I paid 15.5k for a 1969 R code driver that needed a lot of work (new floors). interior decent. Mach1 with fold down seats, and correct shaker assembly. Supposed to be a cobrajet engine but only way for me to know is when I remove it. They told me it was not the original engine. The shake assembly is worth more than 2k so I figured I wont go wrong with it.

Where are people finding these cars for that kind of price???? Holy crap!

 

[SVTguy]

Most say.....What is a reasonable sell price for a completed similar R - the cost to restore this car to that condition, and that is your project price.

More than likely the seller will not part with this car for that price though.

 

[68RCodeConv]

Unfortunately it is almost impossible to define "average restoration". You can dump $2K into restoring the stock suspension with all new parts or spend $100 to replace a couple of bushings and rattle can everything. Which is "average"? Multiply that by every other aspect of the car and you can see the difference.

 

[Alan _MacDougall]

Look very closely at the underside, torque boxes, trunk drop offs, cowl, floors for rust that will cause panel replacement. Find out if the engine and drive train is original. What original parts are missing, air cleaner, AC, radiator shroud etc. Just guesstimating with few pictures, it will take $30k+ and A LOT OF YOUR LABOR to bring it back to its old glory.

 

[sheza65]

Thankfully the air cleaner is mostly there.

$30K could easily be spent on the resto, fortunately I can do interior, mechanical, weld, body...I'm just not a great painter.

What would you guys pay for a car like this? $15K, $20K, more?

 

[mackey]

Personally, I wouldn't even pay $15,000 for it. I'd aim for $10-12.5k.

You can get this R-code for $24,000 buy it now and in much better condition.

Ford Mustang Mach 1 | eBay

 

[Alan _MacDougall]

Thankfully the air cleaner is mostly there.

$30K could easily be spent on the resto, fortunately I can do interior, mechanical, weld, body...I'm just not a great painter.

What would you guys pay for a car like this? $15K, $20K, more?

I would pay $15K if the floors, torque boxes, trunk drop offs and cowl are good.
Alan

 

[Klutch]

These cars are getting harder to find all the time. If you really like the car, it's what you really want and you're truly up for doing the restoration, buy it. It's unlikely something better will come along at a better price.

I was thinking I paid too much for my Mach 1 project over four years ago, but I'd be pretty hard pressed to find a better deal today. Also, after buying it, I found out the fully complete, factory shaker is actually quite valuable. That made the car a better deal and I don't think the seller was aware of this either.

Remember, vintage cars are like the stock market. What you pay for the car today is based on value/selling prices today. What someone paid for a project car even a few years ago is now irrelevant. That price from years ago was likely when values were lower, although it's also possible they were higher, as is true with many MOPARs.

 

[69bossnine]

Personally, I wouldn't even pay $15,000 for it. I'd aim for $10-12.5k.

You can get this R-code for $24,000 buy it now and in much better condition.

Ford Mustang Mach 1 | eBay

?? That R-code needs everything done, just like the subject Q-code needs everything done... And looking at the photos of rust peeking through the doors, fenders and 1/4's, and the one shot of a horribly-rotted floor and torque-box, that R-code might actually be a poorer candidate than the Q-code.

Once the ship has sailed (i.e. a car needs a complete restoration head-to-toe), "condition" as it applies to cosmetics is irrelevant. It's all either getting replaced or going through the blaster anyhow.

The value of this Q-code is subject to how good the "bones" of the car are, structure, floors, whether all the original sheetmetal can be salvaged easily, etc.. And how complete it really is.

If it's a decently-solid car underneath, and no real fright-pig issues, and the driveline's original, I think $15K would be a fair-cop.

You could easily sink $25K into that R-code, tear it apart, and find out it's actually a rougher car.

Although that color combo, and the fact it's an R-code, do make it more desirable..

 

[69bosssvt]

The dael with cobrajet, do not add stuff to how it came new. It will not increase worth b/c cost of the parts needed. Q codes tend to sell at a lower dollar. Autos do also. People that buy them usually are looking at what they came from the factory with, not what it currently has. I paid 15.5k for a 1969 R code driver that needed a lot of work (new floors). interior decent. Mach1 with fold down seats, and correct shaker assembly. Supposed to be a cobrajet engine but only way for me to know is when I remove it. They told me it was not the original engine. The shake assembly is worth more than 2k so I figured I wont go wrong with it.

How long ago did you buy it?

 

[69DroptopGT]

Where are people finding these cars for that kind of price???? Holy crap!

I was lucky to find mine using a national craigslist search. It was located 45 mins north of Port Huron in Michigan here. Kinda remote for anyone out of state to go to buy a car. Plus rear quarters are hung wrong and need replacement. I will repeat that I was pretty lucky to get it. Guy held onto it until last minute and decided to sell. I emailed him a month before with no response. Finally had my brother email him and decided to sell. Very reluctantly.

 

[69DroptopGT]

I bought it last fall.

 

[Klutch]

I was lucky to find mine using a national craigslist search. It was located 45 mins north of Port Huron in Michigan here. Kinda remote for anyone out of state to go to buy a car. Plus rear quarters are hung wrong and need replacement. I will repeat that I was pretty lucky to get it. Guy held onto it until last minute and decided to sell. I emailed him a month before with no response. Finally had my brother email him and decided to sell. Very reluctantly.

Mine was a similar story. I used a nationwide craigslist search tool and found a very short ad from Las Cruces, NM. I got the impression some locals were interested, but didn't have the cash. I showed up with cash and took it home. It was rough, but had solid frame rails, torque boxes and rockers. I've since learned it can be tough to find a project Mach 1 with only those things going for it.

 

[69Mach390]

A restored Mustang is almost always worth LESS than the sum of it's parts.

People like projects.... and pay more for a car they'll have to work on. It's been like that for years.

Ever see a car ad that reads like this?

"Over $30,000 invested.... selling for $50,000"


Instead it's "Over $120,000 invested, selling for $65k"

 

[69bosssvt]

Personally, I wouldn't even pay $15,000 for it. I'd aim for $10-12.5k.

You can get this R-code for $24,000 buy it now and in much better condition.

Ford Mustang Mach 1 | eBay

I looked at this(it's about an hour from me) this thing is so rusty you could stick an ink pen through most of the metal.

 

[69bosssvt]

I thought I absolutely stole mine in 2012 for $18,000. From original owner family after his passing. Absolutely rust free un-cut drag racer. Numbers matching original...family just needed the money to save their house after the economy went south. But that chit don't happen regularly.