Topic: Thoughts on a 67 GT cpe for sale

[stangman39]

Hope everyone has had a good week and looking forward to the weekend.
I have a soft spot for 67 GT/A coupes.  I'm currently restoring a 67 GT 390 Ski Country Special coupe...long delays in that process.
My first car which I still owned is a 68 GT 390 cpe.

I wanted to get the thoughts of the group here to see if others share my opinion on a current 67 GT cpe for sale.  Maybe a bunch of you have seen it.
https://newjersey.craigslist.org/cto/d/1967-mustang-gt-only-657-made/6668776937.html

This is the 2nd ad for the car, first one was deleted.  I grew up not far from the car and have a good buddy next town over.
Long long story short....seller is an interesting character.  First phone chat I had with him I brought up the "cash in person" comment so we
wouldn't waste any ones time since I'm in GA.  He said he was fine with long distance sale as long as I had someone I know put eyes on the car first.
Original ad had a price of $15056!  Seller said he originally had the car for sale at 25K, then lowered to 18K, then said he dropped it to 15K hoping people would
get into a bidding war. 

I ordered the Marti report and shared it with seller.  He quickly updated his ad with the Marti etc and took advantage of the info it provided.
I knew from the start based on the buck tag the car was amber but always like getting a Marti if possible.

I like the car, it's very well optioned and you don't see burnt amber often.  Interior has obviously been changed from saddle to parchment which I don't think hurts the car.
I had my buddy (who isn't a Stang guy but has been around cars most of his life) go look at the car and he said overall it's a good car.  It does have some undercoating and the rear rails
where the springs bolt has rust.  The many pics in the ad now were added since my buddy went to see it.  Seller said he had not looked the car over closely till my buddy came to see it!
I explained how I would want to paint the car back to factory specs, add the black vinyl top, fix the rust etc.
I made an offer of $13500 and seller said he was offended etc.  I probably offered more than I should have even!

I explained to seller him stating the car is worth $51,750 in perfect share is a big big stretch and NADA values are pretty inflated.
I also said since he has the original saddle interior my opinion is that should be mentioned.  He has since adding wording about that to the ad.
My gut feeling is in really nice shape and back to factory specs (minus the interior color change) the car is a low to mid 20s car.
I never like to buy and risk being under water in a car.
Seller is also trying to sell another 67 cpe (CA Special Clone) and tried to persuade me to buy that one and has also since called my buddy to see if he wants to
buy either car haha

Sorry for the long post.
Thanks for your thoughts.
Did I offer too much, too less? 
Just walk away and toss it up to a tough not realistic seller?

[67gtasanjose]

RARE option list...from factory and I see a few other things added too for effect along the years. Agree, the FACTORY color combo would be much more appealing than white on white but as for paying 15K or more, and knowing what it is like to press the "un-do button" on what has been changed...you would NOT get by with adding ONLY 15K to get this one only 90% correct PLUS this would require over 90% of the work done yourself to end up with a mere 30-40K wrapped up in the end product.

Is THIS car worth it? This is almost exactly what I started with on my project EXCEPT that for me, it's my first car so a Labor of Love. I believe I am upside down now with what my car is worth and I don't even have it on the road yet. Saying that, do YOU want a "labor of love project" or are you trying to flip the car?

[stangman39]

Thanks for your thoughts.
It wouldn't be a labor of love project.
I've owned a lot of Stangs over the last 20 years.  Usually I enjoy them for a bit and then another comes along I'd like to own so one has to be sold!
The only one that won't be sold again is my first one.
I always try to at a minimum stay treading water on them and not be too upside down in them.
The car as it sits might be worth 15K to someone who wants to drive it as is.
I think the value in the car is maximized with the car back close to factory specs.

[markb0729]

For the amount of work that would need to be done, I think your offer of $13,500 was more than generous.  This guy watches too many car auctions on TV.  I’ve seen better deals than this on cars that need less work.  I’d move on.  He may end up calling you when he doesn’t get what he’s asking, so be prepared.

[stangman39]

Thanks. 
I'd be surprised if he reaches out to me since I told him the way he was handling trying to sell the car wasn't really the best!
Ya never know tho, stranger things have happened!

[rodster]

I think you've been more than fair and very helpful to the seller.   Apparently he doesn't see the big picture so seems he leaves you no other choice but to walk away.

[RoyceP]

IF I was going to buy it to keep the asking price seems quite fair. Four speed with AC is unheard of rare. Color combination is not terrible. Sure, like any other Mustang it will cost $30 - $40K to restore (doing most of the work yourself) and it won't be worth that when it is time to sell. But what a cool set of options!

The way to make money on cars is to buy low and sell high without spending anything in between.

[stangman39]

If I could do the paint and metal work myself I'd have bought it already 

I do find it funny how the seller says:
"best offer over $16k
I would ask for $16k , but it offends some if I do not come down. So I am asking $18067"