BITOG challenge - Value this classic Mustang

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DriveHard

DriveHard

Joined
Nov 24, 2003
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Middle of Iowa
BITOG, I am in need of some valuable help please. My 19 year old daughter (step daughter) inherited a classic car from her family. It literally just showed up in my driveway a week ago. She is 6 months pregnant, and her husband is currently deployed (Army). She is home visiting right now before she heads back to college in about a month and a half. She desperately needs to sell this car to help keep her and her husband financially sound. I would love to get what the car is worth and send her back to school with a little cushion in her bank account.

I know nothing about classic Fords, so am lost on where to even start to put a value on this thing. It is a 1968 Mustang. It is in GREAT condition. There is not a spec of rust anywhere. I know almost no history on the car...but there are some receipts in the glove box. It appears to have been maintained very well, runs great, and drives great. The leak you see in the pictures is from the power steering...I have already located it, and will fix it soon. There appears to be no other leaks, or oil burning.

So...what is this thing worth? What is the best way to sell it in a month or two?

Here is a link to the pictures.
https://drive.google.com/folderview?id=0...amp;usp=sharing

Thank you in advance for the help!
 
I can also get any additional pictures, etc. anybody would need, and answer any questions to the best of my ability.
 
Its going to take some work to fix what has been butchered on it, are any of the original parts still there?
Do you want to sell this as is or do a little work to get it closer to the real value of the car?
Is the engine original with just an aftermarket intake and covers? any idea if the internals have been changed?

It looks like it has higher springs, aftermarket wheels and shifter, was the dual exhaust original on this car? Any rust or bondo?

In really nice shape all original 15-16K as is if no rust or bondo 12K I would guess. If the engine is not original take another 2K away
 
Vintageant, there is not an appraiser at the link you provided that serves my state. I have contacted the local custom car shops that deal with cars like this, and am awaiting a response.

Trav - I have no idea what is original, or what is not. I don't have much interest or time to put into getting this thing back to stock. It will have to be sold pretty much as it sits. I have no original parts or parts of any kind...like I said, it just showed up in my driveway.
 
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Don't over think it. Get a range of asking prices from the internet, take your best guess erring just a little on the high side.

If you get 4 offers the next day you are too low, so don't be too quick to accept. If you are not getting offers you are too high, and need to lower the asking price to get it sold.

As long as it runs and drives, I would do nothing except to have it cleaned (inside and out) and waxed at the local car wash center. Buyers for the most part are not looking for a daily driver, they are buying the car and planning to fix it up for their own use and tastes.
 
I did '68-'70 muscle Mopars for 15 years along with the shows. I doubt the Fords are that much different. Trav's basic price range seems reasonable to me. You'd need a high end, fresher restoration to pull in the $20's unless the car was a factory high horsepower V8. If the body is solid and the car runs and performs well that's what's important. Anyone can go and buy nice, used original parts to bring the car's look back to stock (wheels, shifter, air cleaner and valve covers, etc.). That's a not a huge expense. The used parts have value too. Many enthusiasts are fine with their Mustang's modified like this. Other than a pure stock version, this car is quite typical (and desirable) just as it is.

Looks to be in solid #3 driver condition which covers most of what you see at local car shows and cruise nights. There are probably Mustang shows in your area during the summer. You could take the car there for some opinions. There's probably a classic car show nearby every weekend. You can google that for your own state. Missing an original V8 engine is more of an issue than a V6. Most of the price guides don't assume you have an original engine, just the correct size and time frame for your car.

While I'm not a fan of the wheels, extra chrome, the shifter, etc....there are plenty of Mustang enthusiasts who won't really car. They just want a nice looking Mustang to cruise in that doesn't break the bank. While I love my classic cars bone stock down the original looking batteries, that's only one segment of the market place.

There are Collector Mustang web sites that can zero in the value for your just based on the pictures. Use a weak refrigerator magnet and see if there are any places in the quarters, fenders, rockers, roof pillars, etc. where it doesn't stick at all or just weakly. Most repainted cars will have some areas of light bondo. Large areas many square feet wide would be abnormal. A 2nd or 3rd coat of paint will also weaken a magnet's pull. Also check on classic car sites to see what other owners are asking (carsonline.com, autotrader.com, ebay current and completed/sold auctions, classiccars.com, etc,)

Mustangs by year

cars on line - Mustangs 1960's
 
I'd look on eBay at recently sold prices for similar car. That will give you a starting point, or frame of reference.

Around silicon valley, that car in that condition would prolly do $15K or so. My BIL and his daughter are building one similar and they paid $10K unfinished with a pile of parts.

Yeah sure, all originals are worth more to the collector crowd, but they are a PIA on correctness and such. You'll have to sell this as a daily driver. Someone will want it, it all comes down to finding out how to reach that person ...

Hemmings Motor News used to be a great way to go. I don't know if that still holds in the iPhone age ... You can try AutoTrader too as a source of current pricing. They have a national online sales site that might work for you...

Selling the car and maximizing the $$ will take some time. If you need to send her away with a nest egg, you buy the car and agree to pass along any overage to her after you resell it. Give her $12K and and start to work. I'll bet it'll go for $15~17K within 90 days ...

The car hasn't been butchered. It's just been tweaked very much as it would have been back in the day. Yeah, those parts were not 1970 editions, but the idea was/is the same. They just personalized it. Maybe they upped the HP a few...

It's not like they built a drag car or anything.
 
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1968 specs

The data tag decodes to a 1968 2-door hard top coupe with a 289 V8 engine (200 hp/288 ft-lbs both "gross" values). For such a light car at 2600 lbs that little V8 is more than enough. No doubt they probably upped the HP a bit + a shift kit with the manual valve body.

Car was built in San Jose which is probably a plus. If that car spent most of much of its life out west before coming to Iowa, odds would be good the body stayed fairly rust free. It might have just one repaint which would be ideal. With a low 108403 sequence number the car was likely built early in the year (August 1967). There's a data plate somewhere on the car (door jamb, under hood?) that could identify the axle ratio, etc.).

BrucLono is correct about the "correctness" crowd. Between them and the tire kickers they will try to convince you that the car is a complete mess and how it will cost them a small fortune to "fix" everything back to stock....lol. And most of them will be car flippers anyways. If you don't know much about the car's condition take it down to a local shop that knows something about classics. They can tell you if the car is solid, relatively all there, etc. There are Mustang guys lurking in your town or the next one over. Wouldn't be that hard to dig them up. Drive the car around town and you'll get plenty of "help". What "for sale price" is currently on the windshield? A 10 min visit to a nearby body shop will tell you about the repaints, bondo, etc. Someone in her family must know something about this car? Would not be surprised if the 67K on the odometer is the original mileage. That would be a plus too. Other options is that it was reset to 000000 when it was "restored" or has gone around the clock once at 167,000. I'd lean towards the 67,000.

You can dig a bit deeper on whether the engine/trans are original to the car. Should be easy to google and find where the engine stamping is. On Mopars in 1968 they stamped the SON (assembly line sequence #) and not the VIN on the engine block. They also stamped that same SON on the radiator support, and the driver's side trunk lid drip rail under the weather stripping). To match those cars up you need a build sheet or a metal fender tag to link the VIN with the SON. I don't know if the 1968 Fords work the same way. But, it shouldn't take you long to find out one way or another.
 
Keeping it simple the most important factors are that it looks and runs good. Nice paint and interior. Then comes having an original (85-95+%) sheet metal body and original drive train. The other stuff is just fluff. Who cares if the undercarriage has surface rust or extra undercoat if it's driver quality?

Don't under-estimate the value of nice original sheet metal and paint possibly being under there (you need to find out). Many of these cars have poorly fitting reproduction body panels or originals with large sections cut in and replaced. Very few bother to remove all traces or clues. I'd much rather have an original, rust free sheet metal car than one with repro replacement panels. Anyone can "build" a repro car.
 
Are you selling it?

My brother owns a couple Mustangs including a 68 Shelby 350 and right now we're at the top of the market. He gives it another five to ten years before the sixties cars plateau and eventually drop in value. Oh sure there will always be those certain cars that will keep and appreciate in value but run of the mill models will drop. Right now the guys that invested in the fifties and early sixties models are seeing zero growth or even decreasing values on their investments.

My brother just restored a 66 289 4 sp convertible and he told me he has more in it than he'll ever be able to sell it for.

Here is the problem say a guy was 21 in 1968 and always wanted a 68 Mustang but never got around to buying one. He's 69 years of age today. How many 69 year old guys do you know that are chomping at the bit for an old Mustang? Those who wanted one already have it or their past the age of seeing the desire of still wanting one. The other problem is the guys born in the seventies as a group are not that car crazy like those born in the forties, fifties and, sixties. The kids that graduated High School after 1985, don't seem to have the interest in cars like those before them. The market is mostly with guys 50 and older for these older classic cars. We're looking at a quickly shrinking market for these older cars.

Checking out Classic Auto Trader I'd put the value if the car was cleaned up in the $15K to $20K. The more original condition it is in the more it is worth. Like original air cleaner, valve covers and wheels.
 
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Originally Posted By: ALS
Are you selling it?

My brother owns a couple Mustangs including a 68 Shelby 350 and right now we're at the top of the market. He gives it another five to ten years before the sixties cars plateau and eventually drop in value. Oh sure there will always be those certain cars that will keep and appreciate in value but run of the mill models will drop. Right now the guys that invested in the fifties and early sixties models are seeing zero growth or even decreasing values on their investments.

My brother just restored a 66 289 4 sp convertible and he told me he has more in it than he'll ever be able to sell it for.

Here is the problem say a guy was 21 in 1968 and always wanted a 68 Mustang but never got around to buying one. He's 69 years of age today. How many 69 year old guys do you know that are chomping at the bit for an old Mustang? Those who wanted one already have it or their past the age of seeing the desire of still wanting one. The other problem is the guys born in the seventies as a group are not that car crazy like those born in the forties, fifties and, sixties. The kids that graduated High School after 1985, don't seem to have the interest in cars like those before them. The market is mostly with guys 50 and older for these older classic cars. We're looking at a quickly shrinking market for these older cars.

Checking out Classic Auto Trader I'd put the value if the car was cleaned up in the $15K to $20K. The more original condition it is in the more it is worth. Like original air cleaner, valve covers and wheels.


Yup, it is for sale...I thought that was pretty clear.

It is in the for sale section right now.
 
I grade it at 3+ as a very good original but never restored. Some things immediately caught my eye as far as being not correct. Given that I'd put the value at 10,500 -12,000K. It is a basic Mustang with no A/C, drum brakes, and no console nor stock shifter. I say that since I have a grade 2 Mustang, in a different color and all correct valued at 15,000K with A/C and console.

All in all it is a good looking car. The Royal Maroon is a nice color. I am very picky about engine compartments and the first thing I would want to know is if the original engine parts were available. Those cost money even though I have them in stock just in case the need arose. Most likely not here so for me that would cost you in my book.

For those who think it is worth 20K, and if the owner thinks so also, then put it up at an auction and you will find out real fast where it falls especially at a no reserve auction. Conversely, anyone offering less than 10,500 is looking to flip so I would just flip them off. Those types always stop at my house asking if my cars or truck are for sale.
 
I have owned a few older Mustangs over the years. Nothing special about this one. You might get $15k to the right buyer but that would take some time. $12-$13k for a quicker sale. Now if it were a fastback you could get a lot more out of it.
 
Well let me give you a comparison. A local fella I know sold a 67 fastback 289 automatic car that just a bit nicer than this one in the Ames Iowa area last year. He was able to only get 13k for it. So you are looking at 11-13k probably. In places like Des Moines, you may get more as there is a bit more money around. Ones that nice in this state are rare and usually come from somewhere else. The guy I know brought his from southern Oklahoma.
 
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