Classic Mustang Market - prices - Vintage Mustang Forums

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post #1 of 49 (permalink) Old 04-18-2017, 12:11 PM Thread Starter
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Classic Mustang Market - prices

I closely watch the Classic Mustang market for buying/selling. I have noticed in the last year or so some Mustangs seem to sit for extended periods of time going un-sold, apparently the seller is unable to sell at their asking price. Prices are through the roof on many popular cars but some arenít moving at all, the look like nice cars but priced super high. Are we due for a market price adjustment on the Classic Mustang market? Feels like the prices have been pretty high for a while now and buyers aren't willing to lay out that cash so cars just sit unsold.

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post #2 of 49 (permalink) Old 04-18-2017, 02:14 PM
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I wonder if some of the auction shows have caused an artificial inflation of classic prices. I recently saw a 65 coupe C code sell for $25K on one of them. To me that seemed pretty high, maybe it's just me?

Maybe people are watching these shows thinking, that's what i'm gonna ask for my car, and then sit there surprised when they don't get it.

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post #3 of 49 (permalink) Old 04-18-2017, 02:55 PM
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I hope so, most of the cool cars have gotten so out of hand that only guys with a serious bank account can afford them. That hurts this hobby. I'd love to see a price check. I don't care if my car goes down in value, it's not for sale anyway.

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post #4 of 49 (permalink) Old 04-18-2017, 03:04 PM
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I believe the cars that sit are the overly modified to a particular person styling/liking. This is very bad for the seller/builder. Also I think the market is flooded with type of car and these overly modified restomods are not everyone's taste. IMO these car have been ruined and I bet I am in the majority when I say this. Potential buyers see them and calculate the extra money required to fix what the modifier did to the car. Example, someone on this forum had an interest in buying an overly done K car. High price of course, and even more money to fix it.
just my .02
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post #5 of 49 (permalink) Old 04-18-2017, 03:10 PM
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It's also become popular to be an amature car flipper. How many of the auction cars were bought as a "flip" where the owner paid too much, add in auction fees, and just can't get their money back?

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post #6 of 49 (permalink) Old 04-18-2017, 03:31 PM
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Originally Posted by 65 Pony View Post
I hope so, most of the cool cars have gotten so out of hand that only guys with a serious bank account can afford them. That hurts this hobby. I'd love to see a price check. I don't care if my car goes down in value, it's not for sale anyway.
I agree. People lament that there aren't as many young people in the hobby as there used to be. One look at asking prices these days and it's easy to tell why.

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Originally Posted by hipo_p51 View Post
I believe the cars that sit are the overly modified to a particular person styling/liking. This is very bad for the seller/builder. Also I think the market is flooded with type of car and these overly modified restomods are not everyone's taste. IMO these car have been ruined and I bet I am in the majority when I say this. Potential buyers see them and calculate the extra money required to fix what the modifier did to the car. Example, someone on this forum had an interest in buying an overly done K car. High price of course, and even more money to fix it.
just my .02
Can't agree with this one. At least, not totally. My unscientific belief is that modification is what really keeps the hobby alive (or at least healthy). There will always be screwballs (like me) that modify their cars in a way that is not conducive to a quick sale, but most cars that I see sitting on Craigslist for months are relatively stock, unremarkable coupes with the standard rust (floor pans, quarters, cowl) asking $12-15k+.

That said, the more expensive the car, the smaller the buyer pool, so it would make sense that pricey, highly modified cars would sit for longer. At this point I bet there are significantly more modified C-code cars on the market than stock, highly optioned show winners.

Again, nothing scientific about these observations, just opinion based on experience.
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post #7 of 49 (permalink) Old 04-18-2017, 03:54 PM
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Quote:
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I agree. People lament that there aren't as many young people in the hobby as there used to be. One look at asking prices these days and it's easy to tell why.



Can't agree with this one. At least, not totally. My unscientific belief is that modification is what really keeps the hobby alive (or at least healthy). There will always be screwballs (like me) that modify their cars in a way that is not conducive to a quick sale, but most cars that I see sitting on Craigslist for months are relatively stock, unremarkable coupes with the standard rust (floor pans, quarters, cowl) asking $12-15k+.

That said, the more expensive the car, the smaller the buyer pool, so it would make sense that pricey, highly modified cars would sit for longer. At this point I bet there are significantly more modified C-code cars on the market than stock, highly optioned show winners.

Again, nothing scientific about these observations, just opinion based on experience.

these three are over priced for what they are IMO. The one for 170+K will sit and sit


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1965 Ford Mustang Fastback | eBay


This one IMO is tastefully done, more period correct. Will more likely sell for this price than the three above.


1965 Ford Mustang Shelby GT350R Competition Fastback | eBay

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post #8 of 49 (permalink) Old 04-18-2017, 04:01 PM
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I agree. People lament that there aren't as many young people in the hobby as there used to be. One look at asking prices these days and it's easy to tell why.

Completely agree. I've wanted a first gen mustang/camaro since I was a kid. I didn't have the money to buy one until I was in my early 30's and it was a coupe, Camaro's were (and still are) out of my price range, and I have no kids, I'm an engineer and my wife is a veterinarian. The just isn't room in my budget to justify a 30K classic car purchase. Drop them down to 18-20K and I can work something out...

A starter/craptastic car that needs tons or work first gen camaro and mustang fastback are in the 5-10K range and need 30K worth of crap done to them.

I believe we're going to see a resurgence of mid 70's to 80's cars because of prices, already starting to see it a little bit now. They're extremely affordable right now, just nowhere near as cool as the 60's -72 cars.

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Last edited by 65 Pony; 04-18-2017 at 04:07 PM.
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post #9 of 49 (permalink) Old 04-18-2017, 04:29 PM
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check out this 66 coupe on BaT - 1966 Ford Mustang GT 4-Speed | Bring a Trailer a day left and already 18k

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post #10 of 49 (permalink) Old 04-18-2017, 04:43 PM
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I'll let them slide on that one... that one looks to be an extremely well done car!

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post #11 of 49 (permalink) Old 04-18-2017, 04:52 PM
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Originally Posted by hipo_p51 View Post
these three are over priced for what they are IMO. The one for 170+K will sit and sit


1966 Ford Mustang | eBay


1965 Ford Mustang Fastback | eBay


1965 Ford Mustang Fastback | eBay


This one IMO is tastefully done, more period correct. Will more likely sell for this price than the three above.


1965 Ford Mustang Shelby GT350R Competition Fastback | eBay
Man, I wish our dopey site didn't screw up ebay links. Had to look them up on my phone because every ebay link fails in the browser.

Anyway, those things are just priced to the moon. I think it has less to do with them being modified and more to do with the owner overpricing their junk.

I'm not an expert, but I play one on the internet.
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post #12 of 49 (permalink) Old 04-18-2017, 04:53 PM
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Just my theories...

High prices for starter/project cars, or even middle-of-the-road "drivers", is bad for the hobby because it does indeed limit the number of folks who can afford to "buy-in".

High prices for finished cars, done to a high standard, is not bad at all for the hobby, if you look at it with a wide economic lens. First off, no young person with limited funds is expecting (or should expect) to buy a finished/restored Mach 1 or high-content restomod as their first foray into the classic car realm. Secondly, low prices for FINISHED cars means that the hobby is, in reality, less-affordable than it is when the prices are higher for finished cars. Why?? Who the heck can "afford" to be horrifically up-side-DOWN in their Mustang? It is shortsighted to look at prices of finished cars, and consider it a negative. It's the opposite. That means that a person of modest means can indeed afford to get a fixer-upper, do the car the way they want it, to a high level, and then... If the necessity arises and they have to sell it, they don't wind up losing their shirt (and likely their wife) after the dust settles and they realize that they just set $30K on fire by virtue of participating in a hobby.

High prices on finished/good/desirable cars fuels more restorations, because the restorations are more-economically-viable, long-term, regardless of your bank balance.

If restomods seem to be lingering longer for sale, that might be an indicator of something, but too early to tell. It's always been a reality in the street-rod realm, that it's tough to sell one for anything close to what you've got in it, because all the street rodders want a car done "their way", and it never quite matches what "your way" was. So the purchase price is handicapped by the buyers' anticipated expenses of making the car reflect their own desires.

Restomodding has been good for the hobby because its fueled the saving and restoring of a ton of 6-bangers and 2-barrel cars that prior to the movement, tended to either sit idle, or just weren't "invested in" to near the extent they are now. So it's all been good.. But it'll all turn to bad if all of a sudden the well-heeled guys aren't willing to write big checks for them, and they all wind up being significant losses to their owners (or the owners descendants) when they eventually change hands.

All that said, I think the healthiest hobby will be one where projects are valued more realistically, properly taking into consideration how much has to be invested to get anywhere worthwhile with it. And the finished products are valued commensurate to the costs to get them to that point, give or take. I also think things are healthiest when you've got a balance of original restorations and resto-mods. Without a strong population of correct/original cars, the Mustangs' position as a "historic artifact" gets significantly eroded, and that really hurts values, for ALL Mustangs. If your radical restomod lives in a world where 100% concours-correct examples aren't plentiful or popular, then the "aura" and "mystique" of your restomod is diminished. A car is coolest when it's based upon a car that's cool to begin with. So the original cars need to remain cool and valuable in order to maintain the excitement for the modded ones.

I blab a lot folks, I know But these are the things that keep me up at night!
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post #13 of 49 (permalink) Old 04-18-2017, 05:06 PM
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Very complex issue. It involves demographics of buyers, trends, economics, competition and on and on.
In the late 70s I was tracking Mustang prices (selling). It was a transition period between old used cars becoming collectors. Shelby's were
mere deluxe performance models but not yet a big deal! Mach 1s were like 70/71 Torinos in the midwest they were well known as rust buckets!

In the 80s there were shops that specialized in restoring or building to order 65-68 Mustangs. Cost/price was typically $10-15 complete. At the time as I recall the 65-68s were considered the true original Mustang and the 69/70 Boss were Mustang answer to Camero Z28. 71-73 was no longer a Mustang, The Mustang II
and the Fox Mustang were other cars Ford labeled Mustang.

IMO vintage Mustangs are in a position much like 32-40 Fords became in the 80s. Many modified, most parts repo'd, easy to restore, specific models going
for big money.

Some huge differences: Used to be the Big 3 today it's the world.


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post #14 of 49 (permalink) Old 04-18-2017, 05:16 PM
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High prices are not sustainable as the cars are generally selling/trading in the "boomer" generation. I am 46 and licking my chops for when the bubble bursts in 5-10 years. I'll fill up my stable with some rare breeds for 1/2 the money of today I predict. I could care less that my current vert will drop in value as it's still better than all my "modern" cars which in some cases are worth next to nothing when you are done with them.

Who else is going to buy them up? Older Boomers will be getting old enough to need the cash, lose interest or pass away (no disrespect, my parents are boomers!), and the majority of the 30 somethings and below don't give a crap about these "muscle" cars. There are exceptions but its a dying hobby. More for me!! Supply goes up, demand goes down, simple.

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post #15 of 49 (permalink) Old 04-18-2017, 06:23 PM
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I hope Bossnine is right. History, changes in technology and culture would seem to lean away.


My '64 1/2 vert. Ordered May '64. D code 4 speed, handling package, caspian blue, accent group, Ford blue manual top.

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