Looks fine to me. If I was in the market for a project I'd look hard at it. My experience with cars on that auction site is that all of the bidding happens in a flurry at the end. Most people have in mind what they will pay for something like this and take one shot at the high bid and don't want to get clipped so they do it at the last moment.
Why don't you bid? It would make a nice companion for your Vert.
He started his bidding price WAY too high. $5500 with a reserve, AND it's a project, it won't sell. The psycology of bidding is such that if it starts at $100, many people will bid often, hoping that the final price is only $5,500...when it gets up that high and the reserve still isn't met, bidders (now becoming competitive towards the end of the auction) figure, "what the heck, I want the car and was willing to pay $5500, I can afford maybe five more hundred dollars," and bid accordingly. So it goes and a higher price is ultimately reached.
Another thing that turns me away from this auction is all the metal work that's been done. I'm in the west and I'm kind of spoiled in regards to sheet metal replacement--unless it's an incredibly good deal, I bypass cars with that much work. Looking at the picture of the rear floorpans, the replacement job looks kind of crappy to me--like the kind of job a bubba might do (like me!).
I also like the stock car look unless it's something special. The intake, aircleaner, and valve covers turns me off to the engine compartment. The wheels are ugly. The reupholstered seats are not to my taste. There are wires hanging down under the steering wheel and the console(?) looks funky.
I don't think the thing actually drives. "It starts," but the shifter hasn't been hooked up--? I am also very leery of these kinds of auctions. If the ower is "one heck of a mechanic," why doesn't he spend a little bit of time to finish whatever little details it needs to be able to say "runs and drives good," or whatever? To me, this says that it needs a heck of a lot more to make it a driver than the seller/owner is willing to put into the car.
'69 coupes just don't seem to be as desirable as the earlier Mustangs, and just don't seem to bring very high prices unless they're really special models like a GT 4 speed with a stock Windsor. If you want one, I'd keep looking and bid on Oregon, Washington, California, and Nevada cars. I also watch for '69s here: http://www.collectorcartraderonline.com/adsearch.html
I saw that auction the other day, and my first impression was the guy was on drugs for starting a project car that high, especially a coupe.
The car FINISHED would barely be worth the guy's starting bid, and it's going to take several thousand $ to finish this car.
My favorite part, though, is that the chrome 9" rear end from a '65/'66. This could be quite interesting for an "unknowing" someone that doesn't realize that all the charts in the world for his rear tire/wheel combos are thrown out the window. It would be very cool, though, to be able to shove some serioud meats and wheels back there, since it's a couple inches shorter than the '69 rear. I contemplated doing this in my '69, but I would have still been stuck with a crappy rear in my '66, if I'd put my 9" into the '69.
1. His asking price is about $2000 too high. If the car was drivable/inspectable and just "needed a few things" the price wouldn't be out of line.
2. 69-70 coupes just aren't very popular. Lately a 69 sportsroof can bring almost double that for a 69 coupe.
3. You can't expect a 3/4 finished restomod project to bring big money.
4. A large number of US factories have shut their doors and moved overseas. Going from an $18 an hour union job to $6 an hour at WalMart leaves a bunch of folks with no money to bid on such things. ::