kenthicken

I'm usually over in the S197 section, so forgive me if I'm posting a "what it's worth" question in the wrong area for a classic Mustang...

A friend of mine has come into possession of a 64.5 Mustang convertible, which belonged to his dad who was a noted Mustang restorer in the late-80's, early-90's. His father passed away about 15 years ago, the car went to his mom, who recently passed away. He is looking to sell the car.

According to him, the car has every option available to a Mustang at the time, and is a very low production sequence number from the San Jose plant (1006XX). Car is white with a red top, red interior, 289 4V, auto. Was one of the featured cars on the Ford "30th Anniversary Mustangs" poster (http://media.photobucket.com/image/f...posters001.jpg). He is pretty sure it's matching numbers, but the engine threw a rod and will need to be rebuilt. Don't know if it windowed the block or not. Trans will need to be done as well. Car has been sitting in a garage for 15 years since the engine let go, but other than that, it's in excellent condition.

He needs to get an idea on the value, since he wants to sell. Any thoughts on this?

andrewmp6

If it sat 15 years the car is worth 8k if there is no rust in it at all,Matching numbers is a gm thing it means full vin on the engine trans and rear end ford didn't do it tell later on and it was only special cars and part of the vin.With early fords its date codes that was made a tiny bit before the cars build date.

GT350R Klone

Hard to tell without pictures. There are a lot of cheap project cars on the market. I would say if everything was cleaned up and in excellent condition and JUST needed an engine/trans, you could be looking at $6-$9K.

andrewmp6

The old car market is in the can a lot of stuff is selling for half right now.If hes hurting for money then sell it if not wait a few years it will come back up in price.

kenthicken

Even with the low VIN number and the options the price is sub $10K? Car does not need paint, interior, etc. It's very clean. Only the engine and trans need to be rebuilt - not really a "project" per se.

Like I said earlier, I'm not an old Mustang guy, but seems to me that under $10K is very low.

GT350R Klone

You just never know. You could find someone that falls in love with it and will pay a bunch. I would list it for what you / buddy wants out of it and see if the phone rings. IMO I have not seen early serial numbers or a 64 vs 65 vs 66 really have a market premium, unless it is a shelby, an untouched original concourse car, or a K car.

Look at craigslist, check ebay, there are so many cheap project cars, and a car that needs a motor/trans will only appeal to the guys looking to buy a cheap project car and gain sweat equity.

gothand

May be worth your buddy spending a few grand to get it running and then sell it. Even in this depressed market, I'd think a nicely restored 64.5 vert would be worth close to $17K-$20K.

andrewmp6

There is a few early convertibles selling close to 20k on ebay but they are in perfect shape and drive.If he wants anything over 10k it will have to be running and driving and in prefect shape.A car sitting that long a ton of things can go wrong even if the paint and interior is spotless the tires are dry rotted the brakes will need replacing all fluids are trash the convertible top is probably dry rotted too plus needing the engine and trans redone.

GT350R Klone

Andrew,

I agree. IMO 80% (there are always outliers up and down) of the early mustang V8 verts in today's market would go for (plus or minus $2K):

In great shape $20K
driver with some work needed $15K
project with work done and potential $10K
project with a lot of work needed $5K

kenthicken

Finally have some pics of the car in question to share. I was wrong on a couple of details (thought it was white and had a red interior), but you can see it's very clean after sitting so long in enclosed storage.

You guys may be able to spot rare options (I can't, but "classic car" -wise, I'm a Mopar guy). If this helps establish a value.