68 Fastback Purchase Price?

[ELSpeedy]

Hi,

I am looking for some advice on what is a fair price for a 68 fastback. Any input appreciated as I am not really up on what Mustangs are selling for.

Here is a quick description.

VIN: 8F02C126614
Warranty Plate: Gone
Engine: 302 - needs rebuild - Not stock
Tranny: 4 spd - Not stock
Rear: 9" Posi w/ 4:11 gears
Paint: Repainted poorly, areas of rust were filled as opposed to new metal, some paint flaking or chipped. The best description I can give is that it is a true 20 footer. It really does turn heads at 20 foot, get closer and things fall apart.
Interior: About the same as the exterior, not real bad but not real good. Some areas of the carpet are rough, non stock wheel, nothing pristine but nothing total junk, very used condition.
Tires/Wheels: Brand new tires, old pitted Cragger SS's

So with that said, I am not looking for a frame off resto project, I have one of those already. What I am looking for is a fun toy that I can rebuild the engine and drive it for a year or two and sell it, hopefuly for a profit.

So what do you think?

Thanks,
Evan

 

[Ronstang]

If it has improperly repaired rust you better be careful as to how much you pay because making a profit on a car like that will be tough...at least in my opinion.

 

[zookeeper]

I agree, if it has serious rust in the subframes, rockers or rear quarters and it was filled with bondo, keep that in mind. Even if you were to get it cheap ($5,000-$6,000) it could cost that much to get the rust fixed correctly. Be careful.

 

[ELSpeedy]

I agree completely regarding the bodywork. If I were doing a complete rebuild I would pass more or less no matter what the price. I am actually pretty good at bodywork and paint but like I say I have a full rebuild project going right now, 63 Nova SS. Frankly it will be a few years before that is done and it would be kind of fun to have a driver.

I found some pieces of junk on the internet, body only and that is not all that great, for the $6,000 range. Most of those are GT's but again no drivetrain and likely never sell at that price. That to me was about $5,000 too much frankly.

According to the "Old Cars Price Guide" a 4 rating is $5,100 and a 5 rating is $3,060 and a 6 rating is $1,020. A 4 is described as a 20 footer and 6 is a parts car. I believe these guides are typically high at least from my experience. My best guess is that it would be just over a 5 which is considered restorable.

So with that in mind, do you guys think that a purchase price in the $3,500 - $4,000 range + $1,500 or so in rebuild and misc. for a total investment of around $5,500 is close to where it should be for what it is?

I guess what I am really asking is does a 68 fastback have additional value over other mustangs of similar era? Again I am not really up on old mustangs but I believe the fastbacks are a little harder to come by right? What would you consider a "can't lose" price (realistic price I know free would pay off for sure) ?

Thanks again.

 

[zookeeper]

If you can get the car for $3,000-$4,000 and it's running, even poorly, it's worth it. As far as '68's being more or less valuable, I own one and here's my opinion: '67-'68 fastback prices are through the roof these days, with '68's being just a tad less valuable. It sounds like you've found a saveable car to enjoy for a minimum investment, so for that price, I'd say you're safe. A couple years ago I had the chance to buy 2 big block GT fastbacks plus a ton of rare parts for $5,000. I passed since both cars were rusty and I really couldn't justify that kind of money for disassembled parts cars. Now I kick myself everyday that I thnk of it...like now.

 

[ELSpeedy]

Thanks for the info so far... I made a quick web page with pictures of the car. I don't have any yet of the underbody and I only have a few showing the paint and body condition. The paint and body work I believe were "professionally" done however it was not even close to what it should be.

Can someone identify the seats? I believe they are supposed to be realatively valuable but

Here is the link: http://home.speedfactory.net/threedmaniac/Mustang.htm

Keep in mind the pictures make the paint and body better than they are but in general you will get the idea.

Any of you guys into RC helicopters? If you are bored stiff you can check out my website creation abilities, or lack thereof. http://home.speedfactory.net/threedmaniac/

Thanks

 

[UNVMATT]

Ever since the darn "Eleanor" fad came along the price of fastbacks have skyrocketed!

Convertibles used to be the only stang that went for big bucks..Now fastbacks go for more than verts do!

Check out ebay for real world pricing.. I desire a fastback to fix up but I would never pay 3000 or more for a rusted out, missing doors, no tranny or engine, no interior-piece of crap. You can get fully restored ones for low 20's..

 

[65 fastback]

You'd be stealing that car for $3,500 - $4,000. If he's really going to let it go for that, you'd better get over there today with a cashier's check.

Tim

 

[Pakrat]

Your seats are from a 69' Mach 1 I think, looks it anyway. It also has a 69' hood scoop which looks simillar to 68' cobra jet, I have never seen louvers on the back window of a 68' before though.

Agreed, if as specified, 3 to 4k is a decent price for this year fastback on today's Eleanor market. Which by the way has thrown the idea of "fair pricing" out the window with most people selling them.

 

[zookeeper]

I think that car would go for about $8,000 or so on ebay. Whatever it's rust issues may be, I noticed they aren't showing on the tops of the inner fenders in the engine bay. I've seen them show there and in the tops of the rear quarters under the vent on really bad cars. If you haven't bought the car yet for $4,000, I'm sure there are a line of people that would (me included).

 

[ELSpeedy]

Hey guys, thanks for the assistance and information.

I now have a 68 fastback sitting in the garage


I expect I will be visting here quite often.

Thanks,
Evan

 

[65 fastback]

Congratulations!

Tim

 

[vrooom]

Feels good don't it?

If you don't mind...how much were you able to get him down on the price?

 

[ELSpeedy]

Feels good don't it?

If you don't mind...how much were you able to get him down on the price?

I bought it for $4,000. I had it in my garage for a couple days to look it over before I bought it. The main issues with the car are the rear wheelwells and the bottoms of the doors. Those areas are repaired poorly. Everthing else is pretty solid. I crawled around the underside and other than an area behind the passengers wheel well it is solid.

I took it out tonight for a quick drive and let's just say I think the traction bars that he took off are going back on

Evan

 

[vrooom]

hehe...nice. Where are you located? I know a place where you could get some used doors for a fair price. (located in WI).

 

[ELSpeedy]

hehe...nice. Where are you located? I know a place where you could get some used doors for a fair price. (located in WI).

Actually I am located in St, Cloud MN so depending on where in WI it is not very far away.

Evan

 

[zookeeper]

Congratulations! The nice thing about vintage Mustangs is the your doors interchange with coupes and the quarter panel stuff can be fixed with patch panels. The nice thing about fastbacks is that it's almost impossible to not recoup your money when it's time to sell, since the prices are rising by leaps and bounds. Plus they look bitchin' Of course I may be biased, since I own a '68 fastback also...

 

[vrooom]

Actually I am located in St, Cloud MN so depending on where in WI it is not very far away.

Evan

I am located in MN also. Check you PM.

Josh