Are these values of mach 1 and fastbacks inflated right now? And does the impending recession mean the prices on these will readjust once we are in a recession?
I have been watching, and even in the last week or two seen some mach 1s come off of places like ebay or hemmings and go back up for more. Why are the 69s now becoming so much more popular? 10 years ago getting a 67 was just as hard. Now it seems like it has flipped.
Thanks for the input and will keep watching.
I am not new to forum, old logon doesnt work and dont use that email anymore.
If anyone does have a good driver, for reasonable money (dont care about collecting or show cars, want to drive and enjoy) please let me know.
Also, does anyone know where to find historical data on the values of these cars? I would be interested to see the fluctuations of value over their lifetimes.
It seems your asking for some investment advice ? Well. here's some. don't buy an old car, expecting to make a profit, it's a loseing proposition. Brian
No, not making an investment. This is going to be a non concourse or show car. A driver to be driven and enjoy. Not to resell. I only car about being able to afford it, not the investment value.
I ask about waiting because my budget is limited and everything right now feels just out of reach.
Sorry, i actually do not watch tv. However i work (am not myself claiming to be) with very intelligent heads of businesses and financial gurus. This isnt me hoping, it is me preparing. They say the signs are there. So I want to financially be ready to do what I need to get by and survive.
Recessions happen, they always do and will. I would bet all i own that another will come. Just look at history.
Anywho, thanks for the correction on spelling. I will make mistakes in my posts, but it is honestly because i dont care to waste the time anymore to be correcting as many as i make with my sausage fingers on my phone. So I apologize on advance for any spelling errors.
The recession talk was started because of the inversion of the 2 year to 10 year treasury note.
"Earlier Wednesday, the yield on the benchmark 10-year Treasury note was at 1.623%, below the 2-year yield at 1.634%.
The last inversion of this part of the yield curve was in December 2005, two years before a recession brought on by the financial crisis hit.
A recession occurs, on average, 22 months following such an inversion, according to Credit Suisse."
If you are in the financial position of "what I need to get by and survive", I would advise not to buy an old Mustang...especially what has become one of the most desired models made. It will cost you up front to buy a good one, or over time to restore one.
If you truly believe there is a recession in the near future, wait. The "toys" are always the first thing to get dumped when a person thinks they are in a financial bind.
As for me, I refuse to participate.
When i said prepping to get by, i meant as a general statement. I mentally have been preparing to get this as a gift for my wife. So its ok. But I do understand the cost of building one is steep. I can appreciate that.
I guess what I am wondering is if anyone remembers what happened in the last recession. After 2008, did prices on these dump? I just honestly dont remember. I wasnt looking to buy or sell anything then so never looked at market.
I know that is not a predictor of what will happen, but i weigh all factors.
I do agree tho that life is short. If the ideal thing came up for a reasonable price, even if it was a little.more than i wanted I would do it. The issue is nothing has yet been that ideal and I feel as if prices are a little inflated right now. Maybe falsely? Are the values of the boss and machs making owners of regular fastbacks think they should get more or are they worth that?
Again these are all questions I am asking because I dont know. Just trying to feel this market out which i have no experience exploring.
Nope. In 2011 I was looking to buy a 69 or 70 Mach 1 project car. Everything I found for sale was either completely restored and selling at a very high price or completely stripped and selling for a very high price. Emphasis on selling. Not sale price. Meaning, these cars were selling at very high prices. And every time I emailed or called a seller, the car was already gone or the seller had already taken a deposit. The 69 and 70 Mach 1 Mustangs are very popular.
I eventually found a running/driving, but very rough, 1970 Mach 1 in Las Cruces. I paid more than I wanted, but I couldn't find that car at that price today.
As I recall, when the economy tanked, high end American cars suffered some loss in value. For example, a friend of mine bought a really nice, but not perfect, '70 Boss 429 for half of what's its worth now. Meanwhile, fastback Mustangs, GT Mustangs and Mach 1 Mustangs held pretty steady in value.
good solid nice driver fastback will always demand a good price so just be prepared if something you like pops up and then you can ask us if good deal! Wes
To me, it all depends on the sellers (not Marks) position. I recently purchased a '69 Mach 1 that had been in storage since 2004. It came with most of the parts needed and had been painted right before going into storage. I paid 10k for it and currently I have ~12-12.5k in the car. The lady that owned it is getting up in age and she had two of them so she was ready to let this one go. It's not perfect but I will attach a couple of pictures.
My point is, recession, no recession, you can find good deals. It will take some time, most of the time, to find a "good" deal on one. Maybe the prices will raise or lower according to economic upturns and downturns in big auctions, but the car your looking for has really just been on a slow and steady rise for some time now. It is imperative that you are in the financial position to take advantage of a deal when it comes along. If you aren't, someone will be.
I recall a '69 being posted on VMF from an ad in Orlando, FL the day it was listed. I called after seeing the VMF thread and it had already sold (same day).
I paid more than $10,000 for mine. In fact, I'd say I overpaid. I wanted a Mach 1, I'm capable of doing the work to get it done, and I like doing it. It's a pretty complete car, runs, and a lot of the sheetmetal has already been replaced. I have found some problems, though.
As others have stated, if you can afford it, get it. If you want an investment, get an investment advisor and follow his advice, leave the garage for storage...
I wouldn't count on picking one up cheap during the next recession. They are a luxury and not a necessity, so the people that have them will probably be able to survive the next recession without having to sell it to pay their bills.
But looking for a good deal is always a good idea. Have your cash ready and jump on it, cause if it is a good deal it will go very fast, recession or not. Have fun and enjoy your Mustang.
I think some of it has to do with the body style unique to 69/70. Larger, more aggressive than previous years. And, IMO, much preferred to the body changes incorporated in 71 forward.
I bought my numbers matching 70 Mach 1 for $13k, delivered, and will have $30k into it all in while doing most of the restoration myself. Farming out the work and that price goes way up.
I will keep looking and just get myself financially ready.
I looked at this one recently.....he told me little to no rust...when i got there i could see it needed some significant rust work. I could see holes thru the floor. Plus he wanted a premium for it. I just didnt want this much of a project, and it is a total restoration. It was a mess. Not one panel was straight and there was more rust and rot i couldn't see. This didnt make sense to me. Not for that price. It looked so much better in the pics. I ran.
You can thank your fellow hobbyists who have already taken the plunge and have the audacity to actually drive their cars on sunny days for all to see and drool over. Lust is a powerful motivator when it comes to finally buying the car of one's dreams. Around here, a '69 sportsroof/Mach 1 car with some "needs" will not likely be had for less than $25K while a nice driver is more likely in the $35K and up range. Big block, highly optioned cars are much more. Today, 428 Cobra Jets and Boss 9's are for those with founder's stock. Every day Boomers are getting closer to retirement and have that desire to relive their youth through the symbols of that youth. Supply and demand in your local area will vary and there is always the unicorn car that skews the data points. If your primary criteria is low price, you can wait for the unicorn. If your primary criteria is the nicest car you can afford, jump into the deep end when you see something that fits your standards and won't require a 2nd mortgage to buy. Look at Haggerty and the successfully completed on -line auctions to fine tune the current transaction prices in your area.
Since you framed your inquiry with "investment" and "surviving the next recession" language, I suggest you get the rest of your financial house in order, build that underground shelter or whatever represents security to you before you get serious about putting discretionary money into a hobby car. In my experience, an "investor" puts out money with the expectation that the market will make him a profit. A hobbyist puts out money, time, and sweat with the expectation that driving the car for pleasure will be the reward in itself. If the car is eventually sold at par or for a profit, that is frosting on the cake.
As for me, again, as noted before i am not looking at this as investment. I was trying to be clear before that this will be am enjoyment driving car. Not for resell and profit. And as far as getting things in order, again that refers to a general state of just preparing to make it though tougher times. Not with building bunkers or whatever. This is a planned thing that I keep putting money away for.
The concern here is the cost continuing to climb, and I pay several thousand more maybe a year from now. I am trying to balance the cost with what I have to complete for projects, and doing this. I am into a couple house projects too but if i can juggle things i would.
I wish there was even a loan i could take to assist with partial payment but i dont want to pay interest, and throw money away, so i will wait and be patient.
If anyone knows any interest free classic car loans let me know.
After reading all of this I feel very lucky to have only paid 11,000 for my 70 Mach 1 back in the winter of this year. It’s a running driving car that the P/O drove on a regular basis in NYC. The one front torque box needs a bit of work and the floor had a previous patch job with fibreglass. The paint was done a while back but is horrible. All the body panels are good without rot or bondo except the drivers door had a patch and the passenger front fender had a patch. The car is a 1 of 186 white exterior with white interior according to Marti. Unfortunately someone changed the outside and inside to black. It will all be going back to white very soon. Funny thing is this is an factory A/C car and all of the A/C is there and it blows ice cold....lol. Car also has the original AM 8 track with it.
To the O/P, good luck in you’re quest, they’re out there. You just have to have cash in hand, be ready to travel and be ready to walk away if it’s not the right car. I traveled from Toronto Canada to NYC twice for this one.
FWIW, I bought my 70' Sportroof 3 months ago for $25,000 after looking around for almost a year, all the nice driver cars i was seeing were 35k and up, and every time i found something at 30k or below it was sold as soon as i called. It was a 302, AC, PS,PB car with Grabber package, Grabber Green with white interior, 1 of 351 with this combo. Now has a recent rebuild 351c 4V with close chamber heads with FItech go street 400, which runs good and some other restomod goodies. The rear quarters are new, and most of the body is rust free except the floor pans will need some attention in a couple years and now i know the cowl leaks a little. The interior had some work done, new seat covers, head liner and new dash and i am installing AC shortly. We are enjoying the car now so we are happy with it so i don't think I over paid because of the extra goodies.
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