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Without seeing the sheetmetal in person I’d say it’s not a bad deal, although you’d have more in restoring it than just buying one ready to go, and I am referring to a CJ car.....
mid to low 20 would be more acceptable


Is this about an investment or the joy and pain of putting something back together, it’s a car you’ve always wanted, lots of factors. But in the end if it‘s monetary gain anywhere in the equation then no......
 

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It's in pretty rough shape for 28k. It looks like a lot of parts could be missing and you'd have to take a good close look at the undercarriage. I'd guess it's closer to 10k.
 

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A nice '69 R code can be bought for $75K. Do you think this car can be restored for $47K after paying $28K for it?
 

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There is a very nice Mach 1 428scj near me if you’re looking
 

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A nice '69 R code can be bought for $75K. Do you think this car can be restored for $47K after paying $28K for it?
I thought these cars were selling closer to $100,000, but I haven't been looking a lot lately.

Well, the fact is you can buy almost any restored Mustang for less money than the cost of restoring it. The exceptions would be Shelby and Boss cars, but just try to find one.

It's a 428 with a shaker and that adds a lot of value. I think if it was a factory 4-speed car, the price would be more appropriate. For a factory automatic car, I think the price is a bit optimistic.

But as I always say, try to find something comparable and, likely, the price will seem not so bad. It's getting downright difficult to find ANY 69/70 Mach 1 project car.
 

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It's in pretty rough shape for 28k. It looks like a lot of parts could be missing and you'd have to take a good close look at the undercarriage. I'd guess it's closer to 10k.
10K would be an appropriate price if it was an M-Code.
 

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Discussion Starter #8
Well no one said, yea it's not bad for the price.....I used to have a 70 Mach 1 CJ 4 speed and it would be nice to get another one...but I also remember that they are not easy to work on. Gee everything is so tight to work on in the engine bay and I remember that under the dash was no fun at all. Ever change out the starter in a CJ car, yea you think it would be easy, but nooo.......

Thanks Guys!
 

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Black/Black=$$$$
If it takes ~10 years to complete then basic appreciation might make it worth it. Just ignore the time factor of money.
A flipper shop that can get almost free labor over a couple years in the end could do good with that price.
 

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Looks like a great project car, although those front bumper guards might be hard to replace…
 

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Back in 2005, I sold a 69 R code, manual, SCJ on eBay for $21K. It had a date code correct but not original engine, tranny, and all date correct fuel pump, distributor, carb, radiator, etc. I had bought the rolling body for $10k. Just another data point for you.
 

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Discussion Starter #12
If it was 10K than it would be more like it. Black/Black=$$ did not escape notice! It did say that the engine was not original too. I always liked the 69 better then my 70. I think the price is too high when I think of the other Mustangs I could buy for 28k.

The effort to replace those bumper guards was the real deal breaker 22GT! Now where is my 1/2 impact?
 

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I paid $15k several years ago for my 69 R code SCJ drag pack project shell. It came with a lot of the parts (not all of them, but most have to be replaced regardless, a 428SCJ motor, but no transmission. My car had been fully sandblasted on a rotisserie and a lot of body work had already been done and the car was in epoxy or some of the panels had already been blocked. I am pretty much going to need to replace everything from the cowl forward, and the floors. But other than that everything else is solid.

I would offer $15k for the car in question.
 

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hell no if you ask me
 

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You'd be a lot farther ahead money wise buying a complete restored ready to enjoy one. That car needs everything. restored or replaced (lots of time, work, and money). The only way it would be worth it to me is if it was priced really cheap (like $20K tops) and that's only if I was going to do all the work myself including body, paint, and all mechanical and all the clitical very hard to find and restorable condition pieces were there.
 

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For me - there is too much to be done & it is missing the original motor & possibly missing the original trans so... it will never be a numbers matching car - if that is important to you. This will be reflected in the value when completed. If I were you I would keep looking.
 

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Kinda high. Looks to be rough. No 4 speed. I don't think it is as low as 15k but I would say around 17-18k. Maybe less as there appears to be a lot of rust. Floors could be in really bad shape and paper thin in other areas besides the passenger side. Value of these cars has been rising. Bought my project for 16k but it had engines. All floors and quarters needs to be replaced. this was three years ago. Originally a no shaker or slats make the car you are looking at worth less. The included shaker setup is worth around 2k or so.
 

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Here is the deal. If you buy a better car looking that is running your probably going to go through it and eventually replace everything anyway so you might as well start with a car like this and use the extra money for the restoration. That doesn't mean you go out and buy some rusty piece of junk missing all of the numbers matching parts. I bought a project Boss 302 for $27.5K that's about like this one. I can't afford a 80K Boss 302. Which is the better deal? Depends on what your time is worth and what you can afford to start out with. I don't think its worth 28K but neither was my Boss 302 but it was the entry level price I could afford. I sold an all original paint 37K mile Boss 302 for $4800.00 in 1980. It kind of hurt to buy this one for $27.5K. There are not that many entry level project 428 Mustangs or Boss 302s. and every year there are less project cars as they get restored. You could buy this for 24K and if you can do the work yourself you will come out okay. If you have to have to pay somebody then its not a good deal. if you have the money to pay someone to restore a car you would be way better off to buy a resorted car and let someone else loose their butt on the restoration cost.
 

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One dynamic I'll mention that leans towards restoring one rather than buying one already done, is that when you're finished, you will KNOW what you have, and you'll have control over the build and the quality within every system and detail..

You can buy an already-freshly-restored car, one that's won top awards in MCA and AACA, and looks absolutely gorgeous on top and bottom... And find out after it's home and the deal is cemented that a MYRIAD of short cuts and compromises and out-and-out screw-ups are lurking everywhere that you couldn't see or sense in the first test-drive.

Trust me, I can't tell you how many times I've purchased a "done" vehicle, that has won prestigious awards, and once I started peeling the layers off the onion to address something mechanical or functional that came up, the whole house of cards came crashing down on me.

So sure... You can get up-side-down quick when you do your own restoration, or commission and project-manage your own restoration. But when you're finished, you know what you've got. Sometimes, for the long-term (i.e. not planning to flip the car any time soon), that peace of mind is worth the premium you paid. And OF COURSE, especially if you've got sweat equity in the restoration, that's huge too... It's a hobby after all!
 

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One dynamic I'll mention that leans towards restoring one rather than buying one already done, is that when you're finished, you will KNOW what you have, and you'll have control over the build and the quality within every system and detail..

You can buy an already-freshly-restored car, one that's won top awards in MCA and AACA, and looks absolutely gorgeous on top and bottom... And find out after it's home and the deal is cemented that a MYRIAD of short cuts and compromises and out-and-out screw-ups are lurking everywhere that you couldn't see or sense in the first test-drive.

Trust me, I can't tell you how many times I've purchased a "done" vehicle, that has won prestigious awards, and once I started peeling the layers off the onion to address something mechanical or functional that came up, the whole house of cards came crashing down on me.

So sure... You can get up-side-down quick when you do your own restoration, or commission and project-manage your own restoration. But when you're finished, you know what you've got. Sometimes, for the long-term (i.e. not planning to flip the car any time soon), that peace of mind is worth the premium you paid. And OF COURSE, especially if you've got sweat equity in the restoration, that's huge too... It's a hobby after all!
And this is precisely why I bought a rough Mach 1 and restored it myself. Not only did I want to build a car, but I was able to build it exactly the way I wanted to build it. (With a lot of help from NPD, by the way.) :)
 
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