What woudl you pay for a rusty 68 c code vert? - Page 2 - Vintage Mustang Forums
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post #16 of 20 (permalink) Old 07-16-2019, 07:19 AM Thread Starter
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Originally Posted by awhtx View Post
I think you guys are extremely optimistic on your value estimate for a fairly plain ragtop. Knock about $10K off of those estimates.
Actually, those arenít out of the ballpark around here. But of note is thatís what people ask, not nessesarily what they get...
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post #17 of 20 (permalink) Old 07-16-2019, 08:31 AM
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Well I look at it as you are like me in that you do the work yourself. One thing that most tend to focus on here is the resale value and they ignore the project value. Restoring a car isn't about the resale value if it was you would be a business restoring cars not someone restoring a car because they enjoy the restoration.

Now the way I look at it the A code Z code DHFGSJ code is just a random letter stamped into the metal up front that only a few people will care about. I couldn't care less what that digit is it's what the finished car is that I care about.

As for price. My 66 is from a friends mom that passed away Long story most of it on my build page. If I were to pay cash for mine I would have only offered around $500. No rust other than two small spots from a dripping window and cowl drip but it had accident damage etc.
Now being more familiar with current parts prices and how they are built if I were to do a convertible I would most likely NOT start with an existing car unless it was either really solid or really cheap. If I were having to pay 7-10k for a car that I know is rusty needs interior and drivetrain that means that very little of the original car will remain. That said that now means that I would just order a new assembled floor pan and just build a new car as it makes more sense than dumping that same amount of $ into a rust hulk but with much more labor needed and consumable cost.

Remember why you are doing it. For the end product or because you enjoy the project. If all you are looking at is resale value then start up a car lot and become a dealer because that's not what being a car guy is all about.

And yeah I am thinking about a 67-70 ish vert for the next project because I enjoy the project since I am not a socialite bar hopper that spends more on beer than they would on restoring a car I like to have something to show for my $.
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post #18 of 20 (permalink) Old 07-16-2019, 11:24 AM
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I think if you are looking at these cars as anything other than a love affair you should try and buy "finished" cars (or almost finished ones that the PO got tired of or ran out of funds) instead of projects.

If you like cut knuckles and grease that will not come out of your fingerprints, or if you love the idea of saving one then dive right in.

Myself, I'm somewhere in between but I've owned mine since the '80s and spent about 20 years working on it. Oh who am I fooling...I'm always working on it.
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1967 Convertible (GTA/GT350 mashup owned since 1988)
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post #19 of 20 (permalink) Old 07-17-2019, 02:20 PM
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Just as an example here, not expressing a strong opinion on your plan, but I bought my very rusty 68 vert for $8000 back in 2008 and put at LEAST another $10K into it for parts and paint. It was a terrible, horrible, financial mistake. I lost a lot of sleep during those four years of sheet metal replacement and parts refurbishment (all done in my little garage). I also changed the exterior and interior colors so I gave myself the added bonus of paying for new interior when I really could have re-used much of the original. To be honest, I farmed out the body blocking and paint as well as the exhaust. I tried doing both on my own at first but found that I lacked the "touch" and patience and decided it best be done by an experienced hand.

HOWEVER! During the four years of hellish pain and anguish, I have this car of mine to show for my trouble. Most people think I just bought it off a dealer or paid someone else to restore it so my pride is generally lost on everybody else but my inner circle. I also hate entering it in car shows but I LOVE driving it. It's everything I'd hoped, partially because I made it that way myself. No buyer's remorse here. I blogged the entire ordeal:

1968 Mustang Convertible Restoration

Good luck on whatever you decide to do.

- Alex O.


'68 convertible restoration "almost done". See Ol' Rusty's progress at 68Vert.BlogSpot.Com

MCA #72655
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post #20 of 20 (permalink) Old 07-17-2019, 02:26 PM Thread Starter
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Here's teh thing: I am a car guy, I do all my work myself. Engines, suspension, welding, upholstery, etc. I love it.

But, sometimes, you just want to turn the key and go.

I'm also not a "convertible guy". I generally prefer a hard top of some sort.

But that being said, my wife is not into cars at all. Other than driving something back and forth to work that is. They're appliances to her.

In looking for another car, I wanted something we could use together yet still engage in some "car culture". We decided a nice little convertible (maybe a 2 seater) would be a fun toy that we could use together and enjoy some countryside drives as well as the occasional car show (either going to it or being in it).

On top of all this is the restriction we all deal with: I'm not made of money.

At the end of the day, I passed on the 68 for obvious reasons. We looked at a 69 vert, but that was 15,000nd it would have taken a good 10G to get it to where I woudl want it (paint, light rust repair, engine work, running gear replaced, disc brake conversion, etc). Really liked the car, butdecided to pass on it. Too much money to buy, too much money to get up to snuff and too long to get it to "driver" status.

So I'm skunked, right?

Well, hold on to your seat and please resist the urge to throw large or sharp objects: I bought a corvette.

1988, convertible, LT98, 700r4, Z52 package (suspension and handling upgrades), black on black with a saddle color top, Greenwood appearance package (spoiler and lowers), 9500 Cdn (around 7200 USD). Need sa few things like mufflers and a master cylinder, but it's good enough for what we want.

I don't need to be too attached to the car, so the decision was made with the head, not the heart. Same way my wife makes deisions about her cars (well, similar, but not same, the heart still gets in there a little bit).

At the end of the day it boiled down to this:

68 mustang was never in the running, full stop.

69 was 15000 to buy, Vette was 9500.advantage: Vette
Mustang needed about 10G to get it up to snuff, about 2-4g would get the Vette in tip top shape. advantage: Vette
Finished, the Mustang would have be super cool and very usable but still 1960's tech. Vette, finished, pretty much modern running gear (cruise, tilt, power modern brakes, fuel injection, etc) that you can jump in and head for the other side of the continent with little concern and all the comfort you can want. Advantage: Vette
Performance - not even a race, the C4 buries the 69, every time.
Resale values: A C4 will never be worth as much as a 60's mustang, just a fact. Advantage: Mustang
What does the heart want? Mustang. Advantage: Mustang.
"Bro appeal" - A C4 can turn heads as you cruise on by, but a 69 mustang convertible WILL turn heads as you drive by....and will also gather a crowd when stopped. Advantage: Mustang.

Sure, a C4 is not the most desirable Vette out there (by far), but that's what makes them affordable right now. The values will go up eventually in the event we ever want to get rid of it. All I have to do is reference the C3 corvette with the big rubber bumpers: When I was younger, you couldn't give one of them away. Now, the prices are climbing ridiculously fast. Doesn't take a genious to see that the C4 will eventually go down that road, especially with it's racing pedigree and the specialty C4 models (IE:ZR-1).

Now...I have to go get my Argo 8x8 ready to sell and the trailer I haul it on. Need to free up one of my 4 heated bays. Only so much space available here......
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