Vintage Mustang Forums banner

1 - 20 of 61 Posts

·
Premium Member
Joined
·
489 Posts
Discussion Starter #1 (Edited)
Around here you never see a fastback or vert, it’s all coupes. I saw this ‘65 for sale today. It’s a 289 automatic C code, not a GT. it’s been repainted years ago, and it needs painted again. I see hidden rust and nothing special. The owner wants $14,000 for the car because he says they go for big money at Barrett Jackson auctions.

Are prices going up this much or am I undervaluing this coupe?
 

Attachments

·
Registered
Joined
·
249 Posts
I hope prices are going up or else I overpaid and am overspending on my coupe. I bought my '64.5 last summer for $10.5k. From the looks, it's in better shape than that one but still needed (needs) it's fair share of attention.

One day I'll get the Fastback I want... I hope I can do it before prices go crazy.
 

·
Registered
Joined
·
20,799 Posts
I think prices are going up as well for coupes too. Fastbacks and convertibles have gone crazy. That’s driving up demand on what’s the next available option, the coupe. As these cars get more and more modified and repaired that’s driven it even more. I truly believe the day any Mustang with a intact VIN and clear title is going to be the a big deal.

My 66 is a very solid Cali car. I never was afraid to do stuff to the car but I’m starting to be afraid.
 

·
Premium Member
Joined
·
489 Posts
Discussion Starter #5
I was expecting to see it for sale around $10,000 but $14,000 seemed too steep. I even looked to see if it might have been an A code, but it’s a C code.

I guess the prices are going up. Every time I see a price like this it reminds me that I got a pretty good price on my car after all
 

·
Premium Member
Joined
·
489 Posts
Discussion Starter #6
I hope so.

I have way too much money in my project already, but at least it's a fastback, so that should help if I ever do sell it.
Being a fastback is what commands such a high price. I remember my grandfather had a 65 fastback when I was a kid and that was the car I always wanted. I actually prefer the 67 fastback but I like all fastbacks 65-68
 

·
Registered
Joined
·
5,011 Posts
In a word, Yes.
What does he mean by big money? Yes, I have seen a 6cyl at BJ go for $20K. I bet it didn't have a rusty cowl but you never know.
Looks nice in the pic which is never the whole story, if you can stand yellow, yech:), and since all these dogs have some fleas the trick is how many fleas and no looming distemper! A lot will depend on what else you see similar within 200 miles but you won't do much better unless you are ready to accept a mangy mutt.

For $12-15K i would expect a car that runs and drives fairly well, is complete and 20 foot presentable but maybe needs light maintenance and only the most minor rust. If it needs much more I feel you could drop down to the $8-12K range maybe even less for a lesser car and end up doing the exact same work to get it into good shape.

One thing I think that is raising the prices on a generic Mustang are that many of us know that we couldn't replace our cars with any sort of similar "classic" without spending a lot more so we just don't sell even if we can get 4-5 or even 10X what we originally paid. Similarly some people think $15K is a good deal on a crapp box when they see Camaro etc "projects" regularly go for 3X that much. Then there are those that think they deserve to get the money that put into one back.
If you are ready to spend that much I bet you can get a very very nice one by taking your time and willing to travel with cash in your pocket to inspect a few and act when you see it.
 

·
Premium Member
Joined
·
489 Posts
Discussion Starter #9
Looking at the car closely I can tell you that it has a lot of rust. It doesn’t look garage kept by any means. He said he didn’t think it was that color originally. I would rather have a car in the original paint unless I knew it was painted properly.
I’m definitely not looking for a car myself but I do look in case I find a K Code car, S code car, vert or fastback.

I guess the prices going up will prevent me from ever landing a K Code
 

·
Dimples
Joined
·
4,126 Posts
I look at 65-66 coupes for sale every day. To answer the question, I would say yes and no. What I mean is, naturally, as things do, they get more expensive based on inflation alone. That said, in my market, I have not observed a consistent, notable price jump. Dummies who over value their junk is a timeless constant.

The following examples are for cars that I would say are priced right, not this rusty $14k pipe dream. Nobody is paying that.

10 years ago lots of driver quality V8 cars were out there for +/- $10K. Now they're more like $12K. Today, a $14K coupe has shiny but not perfect paint, and needs little. There might be a bit of rust in the floor or trunk drop offs, but small stuff, nothing structural. $14-16K range is loaded with nice drivers.
 

·
Registered
Joined
·
3,065 Posts
Condition, options, originality, buyer.

A guy like me doesnt care what it came with from the factory. I care about the condition and options it has today, as well as how original does it look and drive.

I would never buy a Mustang with a modified body, thats just not for me.

I would not buy a Mustang that needs extensive body work or rust repair.

I would buy a Mustang with upgraded safety and driveability features.

I would also buy a Mustang with an upgraded powerplant as long as it looks period correct under the hood.

Its not really about the seller, its about the buyer.

The buyer determines if the car will be bought and the amount that will be paid for it.

The seller will determine if the car will be sold and the amount that it will be sold for.

Ive seen the same vehicles advertised for years. The seller isnt serious about selling or watches to many TV auctions.
 

·
Registered
Joined
·
240 Posts
According to the CPI Collectible Vehicle Value Guide, yes. For example, a 1967 coupe in good condition was $11,000 in the Nov./Dec 2018 guide and 11,700 in the March /April guide. A 1965 Fastback in similar condition jumped from 22,000 to 23,000. The same Fastback in excellent condition jumped from $46,000 to 48,300.00. As others have said, your region can also make a difference. All of the fastbacks that sold at the last GAA collector car auction, in Greensboro N.C. brought top money.
 

·
Registered
64 1/2 D Code Coupe,
Joined
·
3,307 Posts
Here is my 64.5 D Code Coupe. , original color, Clear title, Original 289 motor 4V 4100 Carb. Engine has internal performance upgrades, originally a 4 Spd toploader but now has a T5 from a 94 Mustang, Shelby drop, export brace, Eaton GT springs and 1" sway bar, Monte Carlo Bar, front disc brakes and power steering from Chock. She's not for sale but I may take $25K cash if someone offered.
 

Attachments

·
Registered
Joined
·
2,126 Posts
According to the CPI Collectible Vehicle Value Guide, yes. For example, a 1967 coupe in good condition was $11,000 in the Nov./Dec 2018 guide and 11,700 in the March /April guide.
I think for a driver that's right about on the money. My understanding is the Black Book uses data from lenders, auctions and dealer transactions rather than private party sales. That may leave out the bottom end, the sub $10k cars that run but are a bit rough.
 

·
Registered
Joined
·
3,065 Posts
Tom, I dont think you can build that car today for 25k.
 
1 - 20 of 61 Posts
Top