daverulz

Hi guys,

First post, but please bear with me.

I have a neighbor selling a 1990 GT convertible, black on black with 130k on it. It's 100% stock other than maintenance items, and I'm sure it has NEVER been raced or beaten up on (adult owned) I know it's been pretty well maintained, and that it's been stored inside. I'm guessing it's not too rusty. They are also the original owners, and the car was originally from CA. My guess from the quick glance I got at it last summer is that it's a pretty nice specimen. That being said, they want $6800 for it which to me seems outrageous since when you look up 1991's on KBB (the farthest back it will go) in excellent value they list at $2600 with that mileage. So whose number is off? I don't want to insult them with a super low offer, and I'm really only interested because I'd love to get a cheap toy car even at 5k it's about double my budget. I know the value really comes down to what people are willing to pay for it, so am I out of line in thinking that when their expectations for price come down I might be able to snag it within budget or will a mustang collector pay what I consider a huge premium for a stock 1 owner 'vert?
Is there some other way other than KBB for determining the value of a "semi classic" like fox Mustang?

Thanks for any input!
Dave

daverulz

Well, I just looked it up as a classic on NADA.com and they list retail on it as a "classic" at close to 6k, so I guess since this isn't really a DD (they barey drove it, it's been babied) I'm outta luck. If anyone has any input I'd be happy to hear it, but it looks like I'm going to go back to dreaming about a fun car and not driving one.

mjr46

book value does not dictate price of these cars in reality...demand vs desire does

daverulz

Thanks for the reply! That's what I'm realizing, I'm hoping there's no demand....but I'm probably wrong. I'm sure an enthusiast will pick up the car pretty quickly, it really is rare to find any car that is over 20 years old that is unmolested, let alone a Mustang. Who knows, maybe they'll get desperate to sell it before they move and drastically reduce their price. But if they're expecting over 6k for it I would think they'd just take it with them instead of sell it at 1/3 of their asking price.

mjr46

I paid 4800 for my 89 vert and it had losts of mech issues, body wise it was nice

arabianobsession

Mustangs that age with that mileage around here usually fetch around $4k, but that's even with some mods. This one is bone stock, which people either hate or prefer. And if it's bone stock, I've found (at least here), people won't pay much for a car that has 130k on it.

It all depends on the demand in your area. Are Mustangs a dime a dozen, or do you rarely see one?

daverulz

They're common enough, but I don't think they are common in this condition. That being said, I don't know that there's a huge market, at least not in my area as most people are more interested in BMW, Mercedes or 60's classics from what I've seen on the road. The people who have Mustangs of this vintage have them for the same reason I want it, cheap fun. I know this car has sentimental value to the owners, so that may play a role in why it is priced so high...maybe I just need to convince them it will go to a good home....

I May still be able to make a deal, who knows, lets see how desperate they get to see it gone, but like I said, with what I can offer I would think they'd rather keep it.

arabianobsession

There's nothing wrong with just talking to them and seeing where they stand with it. That's how I got my 95 Mustang...it was friends of mine who were selling it, and although it is just a V6 coupe, it's a harder to find one that they were pretty attached to. They started off asking way too much for it, but I think that was part of the reason. When they found out I wanted to buy it and they knew I would take care of it and give it a great home, they sold it to me for half of what they were asking originally.

No harm in trying

fltt

Dave I thought the same as you did about unmolested Foxes but the reality is they are a little more common than I had originally thought.

With that said this vert has 130k on it and is still going to need TLC, suspension needs to be checked could need inner and outter tie rod ends struts, shocks, probably a tune up. Look for rust or rot. I bought my 91 vert from Tampa for $5900.00 2 yrs. ago with 77,000 miles on it.

I agree with Arabianobsession talk to them tell them you are interested and feel them out for what they really want.
What color is it? Interior? Top?

fltt

Oh yeah heres a pic.
Just added the chrome cobra r rims.