Join Date: Jun 2014
Location: Rocket City USA
Based on the questions you asked, my advice is to walk away from
this car. Contact the local Mustang club, find the experienced old
guys who prefer the old cars, and the spend some time learning
more before you leap.
To answer your main question...
Decent 67/68 coupes with a V8 and no options run about $8K in
my region of the USA. Decent running I6 cars start at about $7K.
Riskier project cars in primer and maybe missing some parts run
$4K to $6K.
As others have stated, your photos are WAY too small for anyone
to evaluate condition and value. I can't even tell the precise year
from your photos.
If the car runs and drives safely and you don't see tons of obvious
rust underneath, then I'd offer $8K. If the seller had photos which
document a full body restoration proving the car isn't full of bondo
over rust, then I'd probably go $10K to $12K tops. But I wouldn't
go much higher because you're quickly heading into "I coulda had
a fastback" territory.
The car in your photos is clearly a resto-mod. It is not original and
has a lot more than 6K miles on it. No Mustangs from this period
except Shelbys came from the factory with stripes. The wheels are
also clearly modern design. The car has a 65/66 steering wheel
installed in a 67/68 car. Can't say I blame them as both the 67
and 68 steering wheels are considered butt ugly by most people.
Cars claiming such low mileage must include service records from
dealerships over the last 40+ years proving the claims are legit.
Otherwise, don't believe it and assume the odometer has rolled
over at least one. In this case, it's obvious the car has typical
mileage over 100K miles.
Finally, owners of resto-mod Mustang coupes typically invest lots
more money in parts than the car is worth. Then they expect to get
their money back when they sell. Unfortunately, it doesn't work
that way. Resto-mod cars are typically much less valuable than
cars restored to original condition. There are many supply-and-
demand reasons for this and I won't get into them now, but it's a
very safe rule of thumb as a buyer.
The one exception to the resto-mod vs original rule are the
commonplace, no option, under-powered I6 Mustangs. These cars
are perfect hot rod candidates because they are the cheapest cars
to buy in stock form, and you probably won't lose your shirt even
after investing in a new drivetrain, brakes, and suspension. Don't
think for a second you can make a profit, but you probably won't
have to sell the car for 50% of what you invested either.
Move along. Nothing to see here.