12K for 67 coupe "show car"?????

[Snail50]

as you know from my recent posts, I'm looking for a 67-68 coupe.
I just had a disappointing (but educational) look at a 68 coupe with serious frame rust. Although I spent 8 hours on the road just to come home empty-handed, it made me realize that I want to start with the best, most rock-solid car I can find.

That being said, back to the subject:

I found a 67 coupe within a few hours of me that by description seems to be an all original, great condition car. Seller is third owner, owned it since 86; car is originally a California car (according to seller). Also supposedly a show car that has won 30 trophies (stock-driven category), including a first place just this last November.

The car has a 289 2V, AT, turn-signal hood (but no other exterior decor group options), factory AC, black interior (no interior decor group, no consoles), and PS. Seller says interior is in great shape, all orginal, but showing a little wear in places.

The car sounds like it's in the kind of condition I'm looking for, however, 12K seems to be high for a 67 coupe with relatively few options. Just my opinion. Seller said it was appraised (I don't know how) at 10-14K, so he listed it at 12K to split the difference.

In general, in how good condition would this car have to be for it to be worth $12K? I guess I'm out of touch with the current values of coupes anymore, so I'm wondering how realistic/reasonable his asking price is. I'm thinking 9-10K would be an okay price for a VERY nice, original car. Like I said, I want the best car I can get to start with (but I also don't want to get raped in the process).

Thanks once again for your input (and patience).

 

[302RWP]

here is the vehicle description on a 1967 "Show quality" Mustang. They are asking 12.5K...
1967 Ford Mustang Coupe, with a new 302, V8 Engine. The car just got new brakes on all four, and a rebuilt rear-end. Everything on the car has been professionally done. It has side exhausts (as you can see in the pictures). The paint job is purely amazing, the colors are Charcoal, with two Grey stripes. The stripes are real, they are not decals. The interior is all original, which was kept in great shape! The RPM Gauge is mounted on the dash. The Stereo is purely amazing. It has 2, 12inch JL Subs, 4 Premier Speakers, and Daul Alpine V12 Amps. The deck, is also one of the best out at the moment the Pioneer DEH-P7500MP. The Rims are Colorado Customs with Nitto Tires. The car has a B&M Slap Shifter. The shifter is very simple if you have never used one. It's basically a manuel without the clutch, kind of like the SMG. The back lights are custom shaved lights that look amazing. I have barely driven the car since I've had it. I have all the reciepts to every little thing that is done on the car. This car is a HUGE Attention Grabber. If you want a weekend cruiser, show car, or even a daily driver, then this car is for you. This car is basically fully restored from the ground up. So it has no problems what so ever. The car has got in no car acidents since it has been in my hands.

dont know if this helps? hope it does

 

[2nd Mustang]

Another view...

I paid $7500 for my 67 coupe. Built 302, headers, limited slip, top loader 4 speed, nice interior, good paint, lowered, some suspension work, etc. It's by no means a show quality car, but it still turns heads. I've added about $5k in parts and labor in three years, so now my total investment is about $12.5K. I still plan to put more into it later. When it comes to classics, the sky's the limit, just don't get taken like that guy that paid $16K for a great looking convertible, only to find out it was a rust bucket with new paint.

 

[SuperDave]

An authentic appraisal would never be stated as a range (between S10-14K). Suspect that is over valued at $12K but then I haven't seen the car.

 

[mp67]

My opinion is: Look at the car first. Show car in stock driven catagory usually means mostly original and in great shape for being original. If you look at the car and think it is in great shape for original and want to keep it that way then it may be worth the money. But if you think, yeah its in great shape for original, but I will want to recover the seats, and the brand new seat covers will make the original carpet look worn so I will replace it, and the new seats and carpet will make the door panels look old, etc... See where I am going? You will be into it for the 12k and still be restoring. For a coupe at 12k, I would say it should have to be in what you consider excellent condition top to bottom, front to back, and underneath. Just my opinion though, and I hope it helps. Good luck.

 

[69 302/351c]

Where were the trophies won? MCA competion or local parking lot shows? The judging criteria varys greatly.

For a coupe to be "stock" and showing a little wear in places..$12000 is too high. Looks like you need to take another road trip, the price may be negotiable. Good Luck

 

[Snail50]

Thanks all. Great advice. For 12K I'd expect the car to be in absolutely perfect condition (considering its age), like MP67 said, but I still would not want to pay that amount because I think it is too much.
The seller is mailing me photos which should arrive today. If it looks good I'll go see it this weekend. I don't really mind the trips, and the Mrs found a nice outlet mall along the way, so she doesn't give me any flak.
The seller said that the price is negotiable, but of course didn't say how much. I'll probably go with the intention of spending no more than 9-10K, IF it's in such GREAT condition. If it were an original GT or GTA, with full deluxe interior and other desirable options, it would make it more valuable to me, but this one's only "real" options are turn-signal hood and AC.
The 12.5K show car sounds nice, 302RWP, but I'd say any collectibility and orignality is gone, and who knows what all that blingy bling is hiding? I'd rather have a bone stock unmolested car than something that has been completely reworked without me knowing/seeing how it was done and by whom.

 

[Snail50]

I don't know where the trophies came from, 69 302/351. He named off a few shows, none of which I've heard of, but I'm not familiar with shows anyway. Hell, he could own a trophy/plaque shop and just make his own. Instant show car.

 

[Ozsum67]

My car isn't "perfect", if any really are.......but it is valued at 10 grand.

 

[Snail50]

My car isn't "perfect", if any really are.......but it is valued at 10 grand.

But what condition IS it in, Oz? And by what source is it valued at 10K? Is that a "book" value, or was it actually appraised?

 

[Pakrat]

My opinion is: Look at the car first. Show car in stock driven catagory usually means mostly original and in great shape for being original. If you look at the car and think it is in great shape for original and want to keep it that way then it may be worth the money. But if you think, yeah its in great shape for original, but I will want to recover the seats, and the brand new seat covers will make the original carpet look worn so I will replace it, and the new seats and carpet will make the door panels look old, etc... See where I am going? You will be into it for the 12k and still be restoring. For a coupe at 12k, I would say it should have to be in what you consider excellent condition top to bottom, front to back, and underneath. Just my opinion though, and I hope it helps. Good luck.

I could not agree with MP67 more. If you looking for an as is car to maintain its worn but original shape, than this seems a little more appetizing even at the high price, but if you are looking for something to make your own, I personally feel it is a shame to take a 35+ survivor and change everything over to new shiny repro or modded parts just to have a better working base. Cars can be restored many times, but they are only original once.

I have to believe that somewhere out there is a late 80's early 90's older restoration that is mostly solid but in need of refreshing again within a 7-8k range that has your name all over it. I would still see this car though if you have the time. High priced or not, the more sticks you have to measure other cars against, the better perspective you can gain on what your dollar will buy you in this highly emotional market.

Good Luck, we'll be watching.
Pak.

 

[SuperDave]

Hark! From what I'm reading here, there is a reverence for ORIGINALITY! All my preaching has borne fruit!

 

[Pakrat]

Hey now SD, you can't take credit for all of that. I have always thought of myself more as a "temporary keeper of history" as opposed to just a "classic car owner". It's an honor and priviledge to be the current caretaker.

 

[SuperDave]

Pakrat: Hooray! We agree! The preservation of the original is seldom advocated here if one reads the posts. I have a reverence for my car that borders on obcession as "a piece of history.

I never CLAIMED to have originated the concept of preservation. Actually, an early Mustang is NOT a "classic" as defined by automotive purists. A "classic" is a limited production, exotic and expensive automobile; the Mustang does not qualify in any of these categories. If I were to take my pristine convertible to a "concours d'elegance", I'd be hooted of the field.

Of couse, there I go again running contrary to conventional wisdom!

 

[mp67]

SD, I always agree on preserving what is worth preserving. This car sounds like it is a worthy candidate for that, although at a lower buy in price. But, lets say it was a torn down project plain jane coupe already, with non original motor and so forth, then the expense of putting it back to original would probably far outweigh its value for the near future anyway. So I would then propose a restomod.

 

[Pakrat]

Absolutely, that is exactly how it should work. Cars that are long since forgotten, abused and all but a faded memmory are perfect candidates for a new lease on life and second re-birth as a restomod. The sky should be the limit. But when you come across a car that has survived all this time, even as the new proud owner, who are you really to suddenly come along and change that. If I bought the grand canyon it would be pretty frickin selfish of me to fill it in simply becasue I saw it as nothing more than an old hole, especially when there is tons of level and already filled ground to buy instead.

 

[Snail50]

thanks for all the input, everyone.

 

[SuperDave]

From Snail's most recent post, I assume that we have been "dismissed".

 

[Snail50]

no way, SuperDave. I value the input of other Mustang enthusiasts, regardless of their opinion, so long as they have some experience on the subject.
I definitely respect the originality of the car, and that makes it more desirable to me. The better the condition and the more original it is, the more I'd want it, mainly because the chances of the car having been molested by some bumbling backyard mechanic (not all backyard mechanics are bumblers, and not all bumblers are backyard mechanics) are greatly decreased.

See, if I find an all original, pristine show car, it will give me that much more satisfaction to gut the interior, tub the rear, drop in a 500+ ci crate motor with nitrous and paint the whole thing neon pink, and put a big wing on the back.

Just kidding.

 

[Ozsum67]

But what condition IS it in, Oz? And by what source is it valued at 10K? Is that a "book" value, or was it actually appraised?

Being picky, I would rate it at a 8 or 8.5 out of 10. My recent restoration (2 years ago) was mostly complete and the value was a replacement value set by my insurance company.