Mustang Monthly Article on Mustang Values

[Varilux]

Just received the latest issue of MM... One of the feature articles is a listing of early Mustang values (for each year and body style).

First of all, I completely agree with the author's main point... Some people see a '65 Shelby sell for $500k and get the delusional idea that any '65 must be worth tens of thou$sands (one of my coworkers speculated my six cylinder '65 coupe must be worth $30k... I was thinking "Sold, sold, sold!" ). I am comfortable with being upside-down with my car... I'm never going to get what I put into it back out, but I did save "just a coupe" from ending up in a scrap yard- which makes me glad I did a resto vs. purchasing someone else's already finished project.

Anyway, while I agree early Mustangs are worth less than most people who aren't in the hobby (and some who are) would guess, I do think some of the numbers in the guide are a bit low (if someone is willing to sell me a #1 '65 six cylinder fastback for the value listed in the article, please PM me TODAY).

So, my question is- do those values represent:

• a good deal (i.e., anything over that and you are paying overhead to a dealer or too much to a private seller)
• an average (i.e., prices may vary up or down 20% or so, but when you look at the average final sales price of each type of car across the US this is the average)
• just completely speculative numbers which may or may not have anything to do with reality

[Klutch]

I think they are real numbers based on the prices where Mustangs are actually selling.

But I am bummed that the one area I was interested in, 1970 Mach 1, is missing from the chart!

[Fstbk]

It makes my nose itch when a publication like that tries to publish a value list, did they use a chart with tight ranges or vague values with wide ranges?

Can it be posted?

[bartl]

Prices vary depending on region, the method of sale (auction, dealer, private) and even variables such as color...ever try to sell a pink Mustang or one with a custom paint job?

My opinion on values has always been that "it's worth whatever you're willing to stroke the check for", but in reality there should be a wide range given to account for all the variables. For someone to say that a '65 Hardtop 200 six is worth "x" is just not possible.

[Fstbk]

I tend to use Mecum results for the higher end stuff and Ebay for the more common items. It really depends on what time of year and what the weather is like outside sometimes.

And who wins elections.

[Klutch]

Emphasis on the word "guide". MM isn't claiming hard and fast values. Rather, just an estimate based on what particular cars are bringing pricewise. They list conditions 1 through 5. So, I would say it's much like what Fstbk said; auction results and E-Bay results.

As a preface to the article in the "Hoof Beats" section at the beginning of the mag, the editor explains he fully expects to be beat up about the price guide. He also shares a story about an acquaintance who asked him to take a look at his convertible and give him a value. The acquaintance was mighty disappointed because, based on what he was seeing on TV auctions, he had expected his pony to pay his daughter's way through college. (Not!)

I definitely agree with the MM article when it said prices for restored higher end Mustangs (Boss, Shelby, BB Mach 1) have come down a lot. But prices for the average driver Mustangs have remained pretty steady. The new trend is for the original, unrestored "survivor" cars. That's what collectors want these days and for those they will pay big bucks. All of these points reflect exactly what I've been seeing over the past few years.

I also like to review the auction section in Hemming's Muscle Machines. They list invidual cars that went up for sale at auction and give their impression along with the hammer price, if it sold. It's a good way to see the trends.

[Blues Power]

havent seen the issue yet prob in todays mail.

to add to what was said already i find that the BJ auctions tent to distort peoples minds on what soemthing is worth or not worth.

they alwasy see cars going for big $$$$ for say a______ and then the market trends try to play an unrealisitc catch up to what they saw on TV

the crazy bidding wars on flea bay do not help the situation either. they get a buddy to bid up the car them some poor schlum pulls te trigger and gets burned on the pricing. so the next car gets listed even higher.

[Maxum96]

Ever since Barrett-Jackson started televising their auctions, people have gotten stupid about what their car is worth. Like Varilux said, someone sees a 65 Shelby go for 6 figures and thinks his 65 Coupe 6 cylinder that's been sitting in the backyard for 30 years with weeds growing up through the huge holes in the rotted out floorpan must be worth $25,000 or more.

Just a couple years ago I went and looked at 70 Torino GT formal roof. It was a M code (351C 4V engine) with a Shaker scoop. That was about the only option on the car. The car had been parked under a tree for about 10-12 years uncovered. Both rear quarters were rotted out. Floorpan was rusting out. The exterior was covered in surface rust. Aftermarket old style cast turbine alloy wheels. The interior was junk. The shock towers had been crudely cut with a torch to grease the upper arms. The only good thing about the car was the engine and the Shaker (Torino Shakers are different than Mustang Shakers). That was the only reason I wanted to buy it. The car had not been taken care of. It was maybe a $1,000 car on a good day.

The owner said he wanted to sell. When I asked him what his price was, he said he'd already turned down an offer of $8,000. He said he'd seen Torinos like his go for big bucks. I'm guessing he'd seen Torino Cobras that were restored sell for money. I wished him good day and walked away. I wasn't even going to try and talk him down. He was delusional. Lots of people out there like that.

[Aaron]

Beauty is in the eye of the beerholder as they say. I paid $10,500 for my 67 390 vert recently and wouldn't sell it for less than $18k - $20k only because of what the car means to me. My car-guy friend said he didn't think the car was worth more than $7k or 8K tops, told me "don't fuss over a big block, they're a dime a dozen" but he isn't a mustang guy.

[Joe]

While not afflicted with "Barret-Jackson syndrome", I was still a little bit disappointed when I saw that either of my beautiful Mustangs were worth about as much as a new no-options, bottom-of-the-barrel economy car, and that after some hard bargaining with the dealer. Placed side by side, who would pick the new car? Oh well, I have no intentions to sell and no delusions of making anything if I did.

[Klutch]

Originally Posted by Aaron

Beauty is in the eye of the beerholder as they say. I paid $10,500 for my 67 390 vert recently and wouldn't sell it for less than $18k - $20k only because of what the car means to me. My car-guy friend said he didn't think the car was worth more than $7k or 8K tops, told me "don't fuss over a big block, they're a dime a dozen" but he isn't a mustang guy.

It's quite obvious he's not a Mustang guy. Big block Mustangs are anything but a dime a dozen. If you look at the charts in the MM mag, there's a significant price bump for original big block cars. Ford did not make nearly as many big block Mustangs compared to small block and I6 examples. That makes them somewhat rare and they are desireable; two points that increase value. Tell your friend good luck in finding a decent 67 390 Convertible for $7-8K.

[slim]

The following is JMO. Anyone is welcome to think I'm an idiot! Rare doesn't = value. IMO sometimes few of something were made because no one wanted it and it wasn't worth a damn in the first place!

Are there more Yugos or 68 Mustang small block automatic verts in #1 condition?
Is an Edsel station wagon worth more than a small block 67 Mustang fast back?


Slim

[KarlJay]

One issue with 'value' is that if they look at 'what they are selling for' you really have to know the true condition of each car and weight the average.

If someone said the Average price/value of a 66 coupe V8 4sp is $______, You should want to know how many did they look at and what was the high/low. How many of us have seen a hack job, rusted out, bondo bucket. How many are from people that had to sell because of other reasons (job loss, moving, etc)

Hard to put a lot of value on these value lists, esp on older cars unless they really detail the condition.

[Blues Power]

if I had to get into the hobby today, i couldnt afford to do so.
I got in when BB were cheap under $1700 and SB were even cheaper.
bosses and CJ's were sitting on dealer lots b/c no one could afford the 55 cents a gal price hike.

Parts were stll availbe at the dealer and NPD was just born. lol

I can remember neigbors tossing out 4V carbs for 2V thinking they were going to save gas money. ahhhhh theye prob did in the long run but was it worth the cost of the 2V carb and intake to do so

[Klutch]

Originally Posted by slim

The following is JMO. Anyone is welcome to think I'm an idiot! Rare doesn't = value. IMO sometimes few of something were made because no one wanted it and it wasn't worth a damn in the first place!

Are there more Yugos or 68 Mustang small block automatic verts in #1 condition?
Is an Edsel station wagon worth more than a small block 67 Mustang fast back?

Slim

I don't think anyone on this forum would argue that rare=valuable. Anyone familiar with the Mustang hobby knows rare+desireable=valuable. For example, I know a tiny number of Mustangs had bench seats. This is a very rare feature. But almost nobody wants a Mustang with a bench seat. So, the rare bench seat doesn't make the Mustang valuable.

As for your examples, right now, it's likely there are many more 68 Mustang small block automatic verts in #1 condition than there are Yugos simply because almost every Yugo ever produced has been scrapped and reduced to razor blades. And Edsels are highly collectable and pretty rare these days. I'm pretty sure a nice Edsel wagon would be worth more than a '67 fastback.