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Trying to help a local original-owner sell her 1965 Mustang

7.2K views 30 replies 18 participants last post by  69bossnine  
#1 ·
You might assume that I have my thumb on the pulse of current project-car selling prices, but I do not.

I recently received a call from a woman who is the original owner of a 1965 C-code coupe. It was ordered new in Gainesville FL, and has lived there ever since. I do not currently have the time to go up and inspect it, but it was repainted (decades ago), and she does not remember any noteworthy rust-repair involved with that repaint. I would just assume that it'll need some rust-repair underneath, but judging from the photos, it looks like its time in the garage has been pretty high-and-dry.

This isn't much to go on, I know. I asked for photos, and she provided me with... These three.. LOL. But I just want to give her a fair target asking price, and a fair "hold-out-for" number, such that she's not being taken advantage of.

Any ideas? Thanks. Oh, and below my name, I've pasted her description of the car..

Rick
NPD

Here are a few pictures of the car. I ordered it from Shaw & Keeter Ford in Gainesville in September 1964, Jack Austin was the salesman. It arrived December 6, 1964 and I drove it until about 12 years ago when the add-on A/C went out. It's been parked in the garage since then. The tires are flat and I would imagine that all rubber parts have likely dry rotted as well. My husband put some sort of additive in the gas tank. He said that was to keep the gas from turning into lacquer. I tried to dust it off since it has cardboard boxes piled next to it so I can't wash it where it sits and can't start it to move it.

The motor was rebuilt at around 140,000 miles. It should have about 240,000 on it now. I insisted that they rebuild the original motor and not just replace it but I can't guarantee that they did what I wanted because I don't know how to check. It was painted blue when I went to pick up the car. The mechanic insisted that it was Ford blue and all their motors were that color. However, that Mustang came in with a gold painted motor so I made him repaint it.

It is one owner but has had the title changed a couple of times. In the 57 years that I have owned it I was married a couple of times and divorced so the names have changed a few times.

Thank you for checking it out. Let me know if you need more information or different pictures.




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#2 ·
Man its hard to say based on the limited info and pictures provided. Assuming it doesn't run and needs interior I'd expect that car to be around 15k in my neck of the woods. More if the paint and body are in nice condition.
 
#3 ·
My basic assessment would be of the 13-16k range. Looks to have good paint, decent interior and could be made to run again. Assuming it doesn't have any horrible humidity induced rot and rust underneath and in the rails/quarters. It's super original which is kind of getting to be rare too. I picked up a 10k 68' 2 years ago with rebuilt motor/tranny (outside the car and a million other pieces) needed to go through interior etc new A/C. My car was MOSTLY rust free. But the remainder is ever so much a pain however minor. You just have to assume you'll find some rust at some point.
 
#4 ·
Assuming that it's 100% rust free (are any of them?), I could maybe give a higher number, but as it sits, I'd say $10-12k. Seems to have decent bones, but not having run in years, I personally couldn't justify anything more than that. If I were in the market, I'd be pushing for closer to $10k.

Imagine how many of those quality NPD parts it would take to make this presentable at a cruise night. My guess is it would add up to quite a few dollars.
 
#5 ·
A car like this is a dilemma.

In my eyes an all original "garage find" that has not been driven in 12 years, is a car that needs everything.

I have been seeing mint condition DD hardtops going for 25k. If that is the top of the U.S. market, how much would it take to make this a 25k DD?

Without an inspection of the undercarriage and cowl, I don't think a fair appraisal can be given.
 
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#6 ·
I think anything under $15K is going to be attractive to the flippers and would be my floor and then only to someone I liked. Not running will require a bit of faith for a regular guy to go for that price but its a good story and I think she could get it. $20K+ coupes are all too common these days.
Red✅
V8✅
Manual trans✅
A lifelong Florida car that doesnt need rust repairs should bring some premium to a smart new buyer.🏁
Even small rust in the usual spots could be forgiven some and just drive it.
I hope a decent owner/driver gets it.
 
#7 ·
I think she should be happy to take $10K for that. To make a really nice $25K coupe out of that, you'd spend right around $15K. So, that would be the break-even point for somebody. If they wanted to actually make money on it, they would either have to cut some corners or buy it for less. I wish it didn't cost as much as it does to do it right, but it just simply does. That makes project cars necessarily cheap...unless they are rare or otherwise special. This does not appear to be, though a nice car from all appearances.
 
#11 ·
Yep, had to zoom and look closer and see the non standard AC.

What anyone here paid even just 2 years ago is irrelevant except for good 'ole days sake. What would you sell yours for? List your car for even more and see how many bites you get! Florida is known to have some of the lowest priced cars across every model for a reason I suppose. Could it have a leaky cowl or a hole in the floor? Would that stop a real panzie from driving it? Sure.
Its got a believable story. Mostly unmolested.
$100 and a few days later that car could be listed for $20K.
 
#9 ·
This is how mine used to look like. But at least mine ran. In 1989, I Purchased it for 3k and (trade) painted the owners home so he could sell it (Divorce). After 25 plus years of hardly driving it, about 17k in repair receipts, untold time rebuilding damn near everything and it still isn’t done. I say she’s lucky to get 5k. Probably more than she paid for it. At least mine came with disc brakes, power steering, equa loc rear and way better looking hubcaps….😂 and all the documentation, way less miles. One positive, hers is a manual!
I see a new motor, tranny, clutch, tires, brakes, paint, interior, rear end, new zip ties for the spark plug wires😂 and a LOT of work. It probably would take at least 15 to 20k plus 29 years just to make it something really nice.
 
#10 ·
Thanks all, I appreciate it, I believe I have a good window for her for asking and bottom-line.

Please understand that the value of project cars has very little to do with the values of nice drivers and values of full restorations. It might very well have everything to do with the value for your own personal decision, but the current "fair market" is flying well-outside of fiscal logic.

The notion of being ahead of the game moneywise when you're done is a difficult goal to achieve with a basic coupe. But regardless, you have cemented what I thought I already knew. And hopefully it helps her avoid being taken.

Thanks!!
 
#18 ·
Please understand that the value of project cars has very little to do with the values of nice drivers and values of full restorations.
Certainly. The market for project cars is smaller with smaller budgets.

It might very well have everything to do with the value for your own personal decision, but the current "fair market" is flying well-outside of fiscal logic.
For running, driving cars, absolutely.

It's hard to do a valuation on anything these days, with the market so weird, but I don't think that makes a decent, but not special coupe worth $15K. Not in Texas dollars anyway.
 
#12 ·
Decent paint ++, aftermarket AC -- but with shroud and 6 or 7 blade fan ++,

Good color scheme, interior looks decent.

Old security system ?? on left apron ??

Engine pit looks good, needs a snorkel on the air cleaner.

I think a good power wash, a $30 open chrome 289 air cleaner, fluids and filter change, and gasoline flush to get it running.

$15K and no less, and it will sell.

Since there is only one to sell, hold out for at least $15K, list for $17K for wiggle room. Florida cars are all over the map for rust, but not New Jersey.
 
#13 · (Edited)
That's probably a great car to have found. Even though it appears to be a nice starting point and is in good condition, it looks like a $10k car to me. For it to be worth $15k it would have to run and drive decently with good tires and functioning brakes regardless of not being perfect. I might try to ask $12k.
 
#24 ·
1st thing they should really do is spend a few days cleaning it as best they can. Get a can of engine cleaner, 0000 steel wool and polish chrome parts, and possibly find an old car mechanic to get it running. Being presentable, running- or runable- washed and waxed, shampooed and vacuumed- they will get a better price than as-is. The time & effort spent going over it will enhance what they can sell it for. It also helps to show the good parts as well as better show what does need to done so one can assess what might need to be spent getting it reliable.