Are prices going up? - Vintage Mustang Forums
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post #1 of 61 (permalink) Old 05-09-2019, 02:31 PM Thread Starter
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Around here you never see a fastback or vert, it’s all coupes. I saw this ‘65 for sale today. It’s a 289 automatic C code, not a GT. it’s been repainted years ago, and it needs painted again. I see hidden rust and nothing special. The owner wants $14,000 for the car because he says they go for big money at Barrett Jackson auctions.

Are prices going up this much or am I undervaluing this coupe?
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post #2 of 61 (permalink) Old 05-09-2019, 02:43 PM
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I hope prices are going up or else I overpaid and am overspending on my coupe. I bought my '64.5 last summer for $10.5k. From the looks, it's in better shape than that one but still needed (needs) it's fair share of attention.

One day I'll get the Fastback I want... I hope I can do it before prices go crazy.

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post #3 of 61 (permalink) Old 05-09-2019, 02:43 PM
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I think prices are going up as well for coupes too. Fastbacks and convertibles have gone crazy. Thatís driving up demand on whatís the next available option, the coupe. As these cars get more and more modified and repaired thatís driven it even more. I truly believe the day any Mustang with a intact VIN and clear title is going to be the a big deal.

My 66 is a very solid Cali car. I never was afraid to do stuff to the car but Iím starting to be afraid.

Tom

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post #4 of 61 (permalink) Old 05-09-2019, 03:12 PM
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I hope so.

I have way too much money in my project already, but at least it's a fastback, so that should help if I ever do sell it.
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post #5 of 61 (permalink) Old 05-09-2019, 03:13 PM Thread Starter
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I was expecting to see it for sale around $10,000 but $14,000 seemed too steep. I even looked to see if it might have been an A code, but it’s a C code.

I guess the prices are going up. Every time I see a price like this it reminds me that I got a pretty good price on my car after all
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post #6 of 61 (permalink) Old 05-09-2019, 03:15 PM Thread Starter
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Quote:
Originally Posted by Dan Babb View Post
I hope so.

I have way too much money in my project already, but at least it's a fastback, so that should help if I ever do sell it.
Being a fastback is what commands such a high price. I remember my grandfather had a 65 fastback when I was a kid and that was the car I always wanted. I actually prefer the 67 fastback but I like all fastbacks 65-68

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post #7 of 61 (permalink) Old 05-09-2019, 03:44 PM
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In a word, Yes.
What does he mean by big money? Yes, I have seen a 6cyl at BJ go for $20K. I bet it didn't have a rusty cowl but you never know.
Looks nice in the pic which is never the whole story, if you can stand yellow, yech, and since all these dogs have some fleas the trick is how many fleas and no looming distemper! A lot will depend on what else you see similar within 200 miles but you won't do much better unless you are ready to accept a mangy mutt.

For $12-15K i would expect a car that runs and drives fairly well, is complete and 20 foot presentable but maybe needs light maintenance and only the most minor rust. If it needs much more I feel you could drop down to the $8-12K range maybe even less for a lesser car and end up doing the exact same work to get it into good shape.

One thing I think that is raising the prices on a generic Mustang are that many of us know that we couldn't replace our cars with any sort of similar "classic" without spending a lot more so we just don't sell even if we can get 4-5 or even 10X what we originally paid. Similarly some people think $15K is a good deal on a crapp box when they see Camaro etc "projects" regularly go for 3X that much. Then there are those that think they deserve to get the money that put into one back.
If you are ready to spend that much I bet you can get a very very nice one by taking your time and willing to travel with cash in your pocket to inspect a few and act when you see it.

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post #8 of 61 (permalink) Old 05-09-2019, 03:49 PM
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The "cost" of my 66 vert goes up almost daily.

Oh wait you said "price". All I can say is I am sure that the cost is far out pacing the price. I hope that prices are going up!
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post #9 of 61 (permalink) Old 05-09-2019, 04:12 PM Thread Starter
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Looking at the car closely I can tell you that it has a lot of rust. It doesn’t look garage kept by any means. He said he didn’t think it was that color originally. I would rather have a car in the original paint unless I knew it was painted properly.
I’m definitely not looking for a car myself but I do look in case I find a K Code car, S code car, vert or fastback.

I guess the prices going up will prevent me from ever landing a K Code
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post #10 of 61 (permalink) Old 05-09-2019, 04:15 PM
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There's always some one that thinks they have gold after watching bj.
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post #11 of 61 (permalink) Old 05-09-2019, 04:23 PM
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I look at 65-66 coupes for sale every day. To answer the question, I would say yes and no. What I mean is, naturally, as things do, they get more expensive based on inflation alone. That said, in my market, I have not observed a consistent, notable price jump. Dummies who over value their junk is a timeless constant.

The following examples are for cars that I would say are priced right, not this rusty $14k pipe dream. Nobody is paying that.

10 years ago lots of driver quality V8 cars were out there for +/- $10K. Now they're more like $12K. Today, a $14K coupe has shiny but not perfect paint, and needs little. There might be a bit of rust in the floor or trunk drop offs, but small stuff, nothing structural. $14-16K range is loaded with nice drivers.

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post #12 of 61 (permalink) Old 05-09-2019, 05:45 PM
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Prices in the Bay Area are already nuts! Hard to find a decent coupe below $15,000! Don't ask about Fastbacks...



1966 Convertible (Plant: San Jose, CA)
289 2V, PS, AC
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post #13 of 61 (permalink) Old 05-09-2019, 05:49 PM
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According to Haggerty, no.
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post #14 of 61 (permalink) Old 05-09-2019, 05:56 PM
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Quote:
Originally Posted by Mustang4SF View Post
Prices in the Bay Area are already nuts! Hard to find a decent coupe below $15,000! Don't ask about Fastbacks...
Well, to be fair, the prices of everything in the Bay Area are nuts.
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post #15 of 61 (permalink) Old 05-09-2019, 06:08 PM
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Quote:
Originally Posted by BlakeTX View Post
Well, to be fair, the prices of everything in the Bay Area are nuts.

Sad but true!



1966 Convertible (Plant: San Jose, CA)
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