hotpotato

Hi all!

First post so please be gentle!

I'm looking at buying a restored 67/68 fastback, and am noticing quite a big price difference between bid prices and offer prices. I've been wanting one for years, and nearly bought a few years ago in CA from Mustangs Only, but couldn't quite make it work at the time.

The few I've kept my eye on on ebay, restored seem to max out around the $30 to $32k mark, below the reserve. Whereas classic dealers have them on at around $42k++

Is the spread really that big on them? Are they taking a shot to see if someone nibbles?

I see the same cars being relisted again and again for failing to make the reserve, dealers like Vanguard Motors who have several, but all seem to be deep into the $50s.

I'm in the NV area a lot of the time, so interested in dealers in neighboring states, but would be exporting the car to London UK. Dealers/restorers in the UK are importing unrestored cars, restoring them fully and selling them for about $50k, thats after transport, import taxes, and a full high end custom restoration.

So I guess my general question is, where do you think the market is, for decent shape, well restored models?

barnett468

the uk shops can not buy one import it along with parts pay duty and restore it properly for 50k. its impossible. . . for 50k you should get a car with orig sheet metal no rust repair fully restored within maybe 3 years . . detailed nicely underneath. . . most of these are rust buckets with taiwan sheet metal and a spray can engine rebuild. most dealers are a rip off.

racer_dave

Prices are going to be all over the place. It will depend on what parts they used, how good the work is and the options on the car. Also coming in to play are the people who do the work themselves versus people who pay to have the work done. Many of them bought the cars to flip and it took them a lot more $$ to restore them than they expected.

And what doesn't help is the whole 'barrett jackson' syndrome of seeing high option, full resotrations go for 80K. As soon as the average joe sees that he thinks his car is worth 50K even though it doesn't have near the amount of work or concours restoration quality work done to it.

I'd spend more time looking on craigslist or on the classifieds pages on the mustang web sites. Also check out any Ford or classic car shows. Personally I think a good driver should be in the 15-17 range, good restoration 25 and full out resoration maybe 40. Also, if you can wait it out, collector car prices drop in the fall when people realize they have to store them over the winter again. Don't be in a hurry and make sure have the $$ ready so when you do see a deal that you can grab it right then.

I paid 10k for mine 4 years ago. It needs work, but its a driver for sunny days. I see them in the same condition now for 15ish.

hotpotato

Actually given the current exchange rate, you're right, in the uk now we're looking at about £35k which is about $60k. Though a few months ago it was about $53k....

I know someone that bought basically this one, though unfortunately for him he paid £30k, and they cut corners, so he spent about another £10k to get it sorted properly.

I'm tempted to go and take a look at this one for sale privately in Vegas, but will need to bring it down substantially in price for a full and proper respray!

https://lasvegas.craigslist.org/cto/4452509685.html

Have also seen this one by a dealer, but everything about it screams scam already. He's listed it every day since early may, dropping the price as he goes. Given that the only google review I can find of the place says he's a cheat selling cars with no title, plus the car doesn't even feature for sale on his site, doesn't exactly fill with confidence!

-I also have to look into the import problem. Taxes are high in the UK, being a classic though there's potentially some relief, 10% duty and 5% tax for classics, but if they've had a lot of work done the tax element could become 20%...

hotpotato

Interesting what you say there, the restorer I spoke to said something similar, he mentioned that American workshops are magicians with the bodywork, able to have mainly filler compared to actual panels, and sometimes just sticking new panels over old ones. He said he had a car in once that weighed twice what it should with all the patchwork that had been done to it...

barnett468

hi;

the green car in vegas is a pile. look at the fender apron where the starter solenoid mounts. irs very wrinkled so oir was hit hard there. the drivers front aprin has seam sealer where it meets the trear aopron so this is suspicious. the drivers rpcker panel is pushed up on the bottom by around 25 mm. so oit had damGE THERE.


THE SILVER CAR AT THE LAKE ACTUALL LOOKS DECENT BUT BECAUSE IT HAS THOSE STUPID RIMS AND IS JACKED UP, AND HAS THAT COLOR ON IT, IT SUGGESTS TO , ME THAT IT WAS A KIDS CAR AND THE PAINT IS LIKE;Y A 500.00 PAINT JOB. THE ENGINE LOOKS TOO NEW ALSO THEREFORE IT IS LIKE;Y A SPREAY CAN REBUILD BUT YOU HAVE TO ASK FOR RECIEPTS TO SEE. IT WAS A MANUAL TRANS CAR, IT STILL HAS THE MANUAL TRANS BRake pedal.

make sure you but a real v8 car.

barnett468

i do not quite undersatand your post but heres the deal. very few shops anywhere do repairs without using bondo. they make the dent very small then use a small amount of bondo. australia and new zealand has several guys that can repair a very damaged panel with no bondo. every country also has its body butchers. obviously a shop that puts a new panel over an old one is not a real body shop. also some customers only want to pay for a bondo repair and not a good repair. the shop is there to make money, not turn customers away so they slap the bondo on. the customer is always right.

i am a professional restorer. a fully resto on a car with a good body will cost the cars owner around 65k and sometimes more. it would cost around 90k in england. you can not buy a fully restored car for 50k unless the owner is desparate.

hotpotato

Thanks! Very helpful info. I might try getting a friend to take a look before I get there. Agree, horrific rims on the silver one. Any idea what the engine is? -really annoys me it's an auto I have to say. Anything nice in AZ?

barnett468

the engine in the silver car is a small block. probably a stock 289 or 302.

there are very few good cars for sale in az. it has been picked clean years ago.

look at this. the cowl looks bent but otherwise looks decent. if the bodies good its worth 30k or more all day long.

http://www.ebay.com/itm/Ford-Mustang-GT-1968-ford-mustang-gt-s-code-4-speed-virginia-car-/121364978898?forcerrptr=true&hash=item1c41ea9cd2&item=121364978898&pt=US_Cars_Trucks#ht_242wt_1122

fastbackford351

That guy Ed from Wheeler Dealers looks like he does a pretty good job.

Maybe give him a ring and see if he can't fit you in.