What's a fair price to Pay 1970 Mach 1? - Vintage Mustang Forums

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post #1 of 30 (permalink) Old 03-17-2017, 09:49 PM Thread Starter
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What's a fair price to Pay 1970 Mach 1?

Hi Everyone,

I've been shopping for my next project and have come across a local 1970 Mach 1 for sale. It runs but needs a total restoration. It's an untouched, heavily rusted 1970 Mach 1, 351W C4, bright yellow car. It needs a bunch of metal work due to rust. If I buy it, I plan to do a 100% nut and bolt restoration. Again, it needs to be totally disassembled, paint stripped to bare metal, quarters and doors replaced, fenders patched, floor pans, frame rails, replaced or patched etc.... The engine, trans, rear end, interior, gauges, are all there but need rebuilt. What do guys think a reasonable price to offer for this car would be. It is numbers matching, all original and a restore-able car, but, it will take a lot of work and money. I think I could do the complete restoration including the body work, paint, engine, trans, brakes, etc.... for about $15K in materials. That includes parts, materials, and machining. All the work would be done by myself and would take me a couple years to complete. What would be your high limit to pay for such a car if you were willing to do the restoration yourself, which I am and enjoy. Pictures below of of the said vehicle.

Thanks for your input ~ Lenny B
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post #2 of 30 (permalink) Old 03-17-2017, 10:24 PM
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Double or triple the maximum amount of money and time you think it will take to restore this car and you will be closer to reality.
It is a Mach 1 but it is a "bottom of the ladder" Mach 1. 351W 2V, FMX (not C4), non-AC (at least it's not in the photo).
I figure it's a $25-$30K car when finished. How much do you want to invest in it?
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post #3 of 30 (permalink) Old 03-17-2017, 11:04 PM
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As a two-year restoration project for (presumably) profit, it had danged well better be had real cheap. Real cheap. Just to give us some idea of the thinking here, what sort of number does the seller have in mind? They may have a totally ridiculous idea of what it's worth (as it sits) in reality.
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post #4 of 30 (permalink) Old 03-17-2017, 11:05 PM
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Have you done anything this thorough before,.....how are you coming in at 15K?!
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post #5 of 30 (permalink) Old 03-17-2017, 11:25 PM
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^^^^^ what he said^^^^^

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post #6 of 30 (permalink) Old 03-17-2017, 11:28 PM
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$15K in materials... Way to low IMHO. I put at least that much of materials and parts into a 65 Fastback total restoration that only needed a couple of small patch panels on the toe boards.
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post #7 of 30 (permalink) Old 03-17-2017, 11:30 PM
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[QUOTE=lennyB;8863961]It's an untouched, heavily rusted 1970 Mach 1/QUOTE]

Heavily rusted as you admit means countless hours of a labor of love...not to count the cost of the materials (which you under-estimate).

Take heed my friend, this is not a money maker, if you don't care to make money on it and it's your dream car, then by all means, proceed.

Allen
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post #8 of 30 (permalink) Old 03-17-2017, 11:42 PM Thread Starter
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Besides working for Ford Motor Company in both Final Assembly, Body Shop, and Paint, I have done complete vintage auto restorations in my home shop a few times. I also have access to a local engine machine shop with good friends who are more than capable of doing all the engine machining work for next to nothing. as far as my estimates, I should be able to rebuild that engine, Trans and Rear end for the cost of parts, shouldn't be more than $5K for parts. I think I should be able to buy all the sheet metal for less than $3K. Paint, primers, sand paper, and basic body shop materials $2K, most of the supplies I already have from other projects. I would think I could redo the interior for $2K. Brakes and electrical I can't see costing more than $2K for parts. All the labor including welding, body, paint, and mechanical I can do myself. Labor I just through out the window because I already know I'll be upside down many times over in that.

The guys is firm at $12K for the car and to me the price seems right at the top. Just wanting to get some more and input if that's a realistic price to pay for a project car like this.

PS - Not looking to make a profit. It really is a labor of love. I'd probably just keep the car and enjoy it. My kids will be the ones selling it when I'm gone.
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post #9 of 30 (permalink) Old 03-18-2017, 12:02 AM
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Originally Posted by lennyB View Post
The guys is firm at $12K for the car and to me the price seems right at the top. Just wanting to get some more and input if that's a realistic price to pay for a project car like this.

PS - Not looking to make a profit. It really is a labor of love. I'd probably just keep the car and enjoy it.
I would think cutting that $12K in half would be closer to the mark and it's a good thing you're not looking for a profit either way. All that rust, and you gotta know it's worse than you think. It always is.
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post #10 of 30 (permalink) Old 03-18-2017, 12:12 AM
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12K is a lot in my opinon for that car. As much rust that I see right now, I would think there is going to be a lot on the bottom side also. Your looking at repair to most of the sheet metals major parts. at least one door, 1 fender and 1 rear quarter. The other half of those I cannot see in pictures or are not on the car (other fender). It will be a lot of work. You may be able to get it done for 15k (mustang sheet metal is affordable) but it will be a lot of work and final value of car is around 30k if work is done well.
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post #11 of 30 (permalink) Old 03-18-2017, 09:37 AM
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Since all you need on advice is price...there is no way I would spend more than $6500.00 for that car...

Purchase price: $6500.
Parts(your est.) $15000.
Labor: LOTS
Total: $21500.

Value when complete. $25k-30k

Hope you really enjoy the work....ugh! Lol!
JMHO, IMO, LOL, IDK, all the other disclaimers!


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post #12 of 30 (permalink) Old 03-18-2017, 10:29 AM
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I would think cutting that $12K in half would be closer to the mark and it's a good thing you're not looking for a profit either way. All that rust, and you gotta know it's worse than you think. It always is.

I agree. $12K is way too high for a seriously rusted H code 1970 Mach1.
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post #13 of 30 (permalink) Old 03-18-2017, 10:54 AM
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Ditto on too high a price tag. Also...no offense but my opinion is $15k estimated in parts is lots low. I'm doing a moderate restoration on a 66 mustang. I'm about half way and am at 15k in parts alone.
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post #14 of 30 (permalink) Old 03-18-2017, 11:32 AM
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I have over 15k in sheet metal in this what was considered a "moderately rusted and repaired" 66...lol
Decided to media blast and found a mess...
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post #15 of 30 (permalink) Old 03-18-2017, 11:35 AM
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Here is the before...
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