Topic: Very original 68 Mustang Fastback whats a fair value for it?

[70Twister]

I need advice!! I have a chance to buy a numbers matching 289 2bbl and three speed, all original sheet metal 1968 Fastback with no rust anywhere!It even has its factory trunk mat and gas tank!  The car has been painted dark blue many years ago but it is a original yellow car with black interior. Its a running driving car and I have test drove it. So big question is, he wants $18000.00 for the car is that to much to pay for this car? The motor is going to need a rebuild and the car needs a lot of cleaning and the paint needs to be changed back to factory yellow. I can do all the restoration myself but.....What is a fair value to pay for a car like this??? Thanks Jeff

[CharlesTurner]

Have you run a Marti report yet?  A 2V 289 3sp is a pretty basic car. 

For a solid car with no issues, the price doesn't seem unreasonable.  Although, if you do a full resto, you'll be underwater pretty quick.

[jwc66k]

Go to NADA Guides http://www2.nadaguides.com/ and plug in the make, year, model and options on the check list for classic cars. I used a 302 as they don't show a 289, but used the basic to get the dollar numbers. Don't be overly optimistic on what the car's value or condition is, all that NADA Guides gives is a value mark. It will be higher than the real market. I did yours and the low is around $11k, average is $26k (remember, they're high). Using the average of $26k, then subtracting what you pay (or are willing to pay) will give you a dollar value of what you will need to put in the car to get to get there - $26k minus $18k is $8k. In the real world, those are not what would happen, but it shows you what your budget might be.
Let the sniping begin. It's a starting point.
Jim

[70Twister]

Thanks! Yes its a basic car thats why Im not sure of the value! But if it was a big block the Mustang would already be in my garage!! I dont usually see a mustang this solid and original in my part of the country!   

[bastille_stango]

I find hagerty valuation more accurate/up to date (at least it gives a broader scale between different models & conditions )

https://www.hagerty.com/apps/valuationtools/1968-Ford-Mustang?id=45206
18K$ would then correspond to a condition #3 car ...

[rodster]

Solid and original cars are getting harder to find, especially in the northeast!

[rockhouse66]

Well, here is another way to look at it. #1 it is a complete Mustang FB which is a good find as they are getting scarcer.  #2 isn't $18K about the price of a Dynacorn FB body?  Wouldn't you rather have a "real" car and all the parts that go with it?

[sportyworty]

Hard to find a solid complete Fastback 65-68 for under 15K anymore. That ship sailed about 4 yrs ago. I have bought and sold a hoard of them and just cant pull the trigger on some of the mutts at that range but others are lol. We have so many people from overseas combing our Craigslists and local swap meets in California for the last remaining tired drivers. The Coupes with V8 have almost doubled from little drivers at 5K to 10K in the same time frame.

[69cobrajetrugae2]

I have found that 7 and 8 fastbacks are gone, only a 2008 type recession will bring them back on the market.

7 and 8's bring 30 to 50% more than a 5 and 6, same condition.

 Sportyworty is dead right, honest ones are gone from the ads for about 5 years now.  The good ones are privately traded. 

2 years ago I called on a yellow v8 for10K, and the rust was horrendous.  The seller said the buyer just left with it.  I asked him if he didn't mind telling me how long it was in CL.  He said he put the ad in and 10 minutes later the guy was there and 45 minutes later is when I called.  There are some resto mod and non original ones which are going for 45 to 70.

I might suggest using a tape measure to check for hits especially the shock towers and rear quarters, they can be worse than rust.  Barring that, here is LA the car will bring 25,28 all day long.   

[rodster]

I have found that 7 and 8 fastbacks are gone, only a 2008 type recession will bring them back on the market.

7 and 8's bring 30 to 50% more than a 5 and 6, same condition.

 Sportyworty is dead right, honest ones are gone from the ads for about 5 years now.  The good ones are privately traded. 

2 years ago I called on a yellow v8 for10K, and the rust was horrendous.  The seller said the buyer just left with it.  I asked him if he didn't mind telling me how long it was in CL.  He said he put the ad in and 10 minutes later the guy was there and 45 minutes later is when I called.  There are some resto mod and non original ones which are going for 45 to 70.

I might suggest using a tape measure to check for hits especially the shock towers and rear quarters, they can be worse than rust.  Barring that, here is LA the car will bring 25,28 all day long.

Really?  I'm surprised it's that much? I thought it would closer to even with maybe the 7's pulling ahead slightly. The old saying 'when the top goes down the price goes up' is usually true but I think the 7 fastbacks are an exception to that rule.  Still glad I bought my solid original 7 S conv a few years ago tho' 

Oh yea, and if the OP decides not to buy, I want to be the next in line.