Vintage Mustang Forums banner

1 - 6 of 6 Posts
G

·
Guest
Joined
·
0 Posts
Discussion Starter #1
I have got the bug to purchase a restored mustang and would appreciate your opinion. I have a close friend who restored a 64 1/2 mustang from the frame up. He is knowledgible in this field since his profession is working on an IRL racing team. I saw the car when it was completely stripped and off the frame. When it was new the car was converted for drag racing and only had approx 15 miles on the engine. The engine is not the original so SNs are not matching. The frame is excellent, body has been painted inside & out, complete new interion installed. He wants $6000 plus cost of completion which only includes engine, exhaust and transmission installation. Engine (351) and transmission are included in the $6000. I've seen the car and it is in excellent condition. Being new to the hobby I'm not sure about the cost. My guess would be about $10,000 - $12,000 when complete. Would appreciate your opinion. :)
 

·
Registered
Joined
·
616 Posts
I would shop around on here for a bit sounds quite high to me You could find a very decent coupe for $6000. I would poke around read posts and soak up as much as you can... read all the what's it worth posts.. just my .02
 

·
Premium Member
Joined
·
3,428 Posts
I'm assuming you're talking about a coupe. :: Unless he's rebuilding the engine and tranny, Costs should be relatively low for just installation and an exhaust system.
Unless it's an extemely rare coupe that's too much for a non matching vehicle. I don't doubt he has much more than than in it, its just that excellent ones are available for less than 12K
 

·
Registered
Joined
·
550 Posts
Welcome Scubadvr!! Just as in diving you don't want to enter the waters of vintage Mustangs without a trusted buddy. Use the collective knowledge of VMF and the tons of resources here. Check Cars for Sale for values and availability. Go to some shows or club events and talk to owners. Get a good feel for the huge spread of choices in early 'stangs. Know if you are going Concours Show or Restomod Go. Do you want a weekend beauty already done or a rust bucket for cheap that can be brought back to life! ::

As to the 64.5 you mention, the greatest value of the early 65 Mustang is to an original/concours collector. Have have a concern about a former all out drag car that may have had lots of things done that can't be un-done! ::

Please fill out your VMF bio information and a VMF'r close to you can help find you local resources on shows/shops/clubs etc.

Welcome!!

L. Thompson, Rescue Diver (PADI)
 

·
Premium Member
Joined
·
3,637 Posts
In this hobby, it's not uncommon for people to get upside-down in their rides. From the sounds of it your friend has built a nice little Restomod Coupe (ie. 351 in a 64'1/2). So it's value is not in being a "Stock" Mustang or award winning concourse car, a Convertable, or Fastback.

As a Restomod Coupe, (Modified, or Modernized Restoration), if the workmanship is top notch, the engine build and trans choice well thought out and performance oriented, it could certainly be worth $10,000. The problem is, allot of folks are in this hobby who are interested in Restomods, are in it to build their own cars to that level and are not so interested in paying that kind of green for something already done.

Beauty & Value is in the eye of the beholder.

Ken
 

·
Registered
Joined
·
3,438 Posts
Since you mentioned that the engine and trans are included in the price, I assume that installation is the only remaining variable. The engine and transmission install shouldn't cost more than about $750 combined (maybe more if he still has to do fabrication to make the 351 fit) and the installation of the exhaust is maybe $250.

So, if he's asking more than $7-8K for the car finished, you can probably do better elsewhere. You just need to decide the value of what you already know about this car and whether it makes sense to try to get one cheaper that you don't know as well.

BTW, Mustangs are unibody cars and don't have a frame. If your friend described the restoration as frame-off, find out exactly what he means by that and take note that he may not know Mustangs as well as he knows the IRL cars.
 
1 - 6 of 6 Posts
Top