1967 "S" Code Mustang GT Fastback value?

BDR561 · #1 (**permalink**) 05-25-2008, 09:41 PM

Hoping that some of you "Mustang" guys can shed some light on a vehicle that has become available to me:

1967 Mustang GT Fastback, "S" Code
Originally 390, now has a transplanted 428 (3K miles on rebuild)
Original 4 speed (rebuilt 3K miles ago)
NO A/C
NO P/S
Rust free CA car, professionally restored 3 years ago. (No putty or patch panels, a true rust free restoration)
3.0 posi (originally a 3.0 open)
Caspian Blue with a blue interior
Torque Thrust Wheels
All original sheet metal with NO evidence of any accident history

The car is a solid 9 out of 10 on both interior and exterior. Needs nothing...

Having a hard time finding any comparisons and I know a lot of the audiance here is Mustang based.

Thanks,

Mark

csx4910 · #2 (**permalink**) 05-25-2008, 10:14 PM

The values are a bit down from what they were 2-3 years ago at the height of the "eleanor" craze. I had a completely restored 67(every bolt, nut and washer new or restored) with A/C and an 5 speed Tremec with a hot rodded 390. 2 years ago I turned down offers over $50K. I sold it a year ago for $40K and I know I have seen them recently in the $30-35K range. It is a buyers market!
Ron

tkb289 · #3 (**permalink**) 05-25-2008, 11:31 PM

Mark,

Check out the Nor Cal SAAC page. There are some nice vintage Mustangs that come up for sale from time to time, which might give you some good comparisons.

Cars & Parts

Tim B.

PANAVIA · #4 (**permalink**) 05-26-2008, 12:53 AM

I agree with the above ref's - unless you need the cash, hang onto the car. in the year 2008 it is totally a buyers market. A good S code with a 428 upgrade (done properly) and not too hot rodded is a blue chip investment deal in mustang land. I saw a J code 68 fastback nicely done trade hands for 19K recently. -- the guy was hard up for $. --Steve

mrmustang · #5 (**permalink**) 05-26-2008, 05:20 AM

Mark,

What it is worth depends on what you are willing to pay for it. If you are looking for a concours car, this is not it as the original motor is now gone. A nice summer driver, again, think about where you live and the lack of AC and just how hot that 428CJ will get. As for it being a 9 out of 10, are you really sure about that estimation? Did you really give the car a thorough inspection, check under the dash at the cowl hats, look at the trunk drop offs and lower rear quarters both inside and out? What about the tops of the inner fender panels? Do you smell a whiff of antifreeze in the interior after the car has run for a few minutes? Again I'm not trying to bust balls here, just bring you back to the 9 out of 10 estimation and what it is based on..... Price wise, for a car sitting in Florida without factory AC installed, a non original engine, but 100% rust free with original sheetmetal and an interior that is "as new", chrome that is perfect, and everything else as it should be, in the current market anywhere from $18,000-$24,000. Again, not trying to bust your balls, but one persons "ground up restoration" vs another is like comparing apples to oranges, ask to see the photos of the restoration and make sure to look at everything, as contrary to popular belief, cars in California can and sometimes do have rust problems.......

Hope you find this helpful.

Bill S.

PS: Do a search of the forum, as there was another potential buyer looking at a car very similar to yours about 4-6 months ago. Posted pictures as well as a greater description of the car, might be the same seller still trying to unload (I think he was asking 32K, which even then was reaching for a non conours, 100% restored and original, show detailed car)....

Wayne Maybury · #6 (**permalink**) 05-26-2008, 07:06 AM

BDR

What is the asking price?

I bought a '66 Mustang a few years ago and I learned that some of the California body shops are very good at applying Bondo.

I didn't pay big bucks for the car but I did find some surprises when I beh=gan to restore the car. There was some well hidden collision damage but no rust, so it wasn't really a big deal to fix.

Wayne

BDR561 · #7 (**permalink**) 05-26-2008, 09:49 AM

Wayne,

I can buy the car in the LOW 20's. I personally know the seller and he has records from new. He had it repainted when he got it and at that time the restorer had him come down and inspect the bare body as he was amazed that here was no rust and all the sheet metal was straight and original.

The interior is original and is excellent condition. My friend bought it 3 years ago for 13K, and has put about the same again into it. (Paint, motor, trans...) He has all receipts and all the original parts sans the 390.

The lack A/C is my only stumbling point at his time (also wish it was black), but the condition, big block and 4 speed really have my attention. Yes, I wish it was an R code then it would be a no brainer.

This car has never been advertised before (in the last 3 years). He just can't afford all the toys and picked his mustang over his boat to go!! He wanted 25K but after I went through it yesterday and discussed in detail the car he told me I could have it in the low 20's

My gut says, they don't make them anymore, it's a nice car with the right options, it should appreciate nicely and will always have an active audiance of intereted buyers.

mrmustang · #8 (**permalink**) 05-26-2008, 10:04 AM

Since you know the seller, I say buy it and use it, but do not look at it from an investment standpoint. The market is in flux, and a swing to the negative side by as much as 40% could happen overnight. It's happened before, and it will happen again. The trick is knowing when.......

Bill S.

RodKnock · #9 (**permalink**) 05-26-2008, 10:13 AM

Assuming what you said is correct, I like the deal. I would buy it, sounds like a nice deal. You could always scrounge up/find a '67 390 engine. They don't seem to be rare, but I like the 428 in there. Good deal, go for it.

marcalan · #10 (**permalink**) 05-26-2008, 10:43 AM

I did install an A/C unit in my 67 mustang (289). It made a huge difference in summer driving. You will find many aftermarket systems out there, and a few that look close to original for the interior.

Sounds like a great deal for the car.

m-a

BDR561 · #11 (**permalink**) 05-26-2008, 02:40 PM

I thought about the 67 390 motor. I don't believe the VIN was stamped on the block back then, so I would just need a correctly dated block to coinside with the build date, correct?

I do like the 428 in there and the fact is has been gone through professionally within the last 3K miles. Car runs strong and is quite the terror and a hand full with no P/S.

No quite what I really want, but a cool ride that would be a hard find or the $$. The 67 A/C was an under dash unit I believe so an after market add would be a simple addition that shouldn't hurt the value and make it livable for me down here in sunny FL.

I appreciate everyones input... I'm leaning toward the buy...

PANAVIA · #12 (**permalink**) 05-26-2008, 03:53 PM

BDR is correct on the VIN stamping , ford didnt do that {block stamping} until much later. Concours Date code rules are 3 to 6 months prior to car production date depending on component. if the 428 is all ford inside and out, low 20's is a rock solid deal. just as long as it is a F or R factory car (VIN should read 7F09S1xxxxx, or 7R09S1xxxxx) {F is dearborn MI, R is San Jose CA) 67 VINS are on the drivers side top fender well, reprinted on the door tag, and under the top of the passenger side fender well, under the fender (req rem of fender to locate). T cars are from Jersey and score a bit lower on the $$ scale.

BDR561 · #13 (**permalink**) 05-26-2008, 04:04 PM

Panavia,

It is a 7R San Jose car. The 428 is all ford, I do not know the date codes at this time as I only had about an hour yesterday to go through it. I will go through it in detail Wed.

A/C is only $1200 for a factory style retro fit kit using the stock vent locations, so that has now become a non-issue. Now if only it was black..........

mrmustang · #14 (**permalink**) 05-26-2008, 04:41 PM

Quote:

Originally Posted by PANAVIA

BDR is correct on the VIN stamping , ford didnt do that {block stamping} until much later.

Actually Ford started stamping VIN's on the HiPo blocks starting in 1965. Sorry, but it is a FORD, MCA, and SAAC documented fact on these cars.

1965/1966 "K" Code 289 4V HiPo engines
1967 "K" and "S" Code engines
1968 "J","S","R",and "Q" Code engines

Just to name a few......

Bill S.

BDR561 · #15 (**permalink**) 05-28-2008, 10:05 AM

Bill,

In your opinion, if this car had the original 390, what kind of number would you put on it? I see there is one on ebay now bid to 25K (he is asking 33k) with the "correct" 390 (not sure if that means the original).

Thanks,

Mark

BDR561 · #16 (**permalink**) 05-28-2008, 11:34 AM

Bill,

The one on ebay is not the original motor, but the correct 390 (and he claims that there was no VIN stamping!!) I will watch that one closely as it's very similar to the the 67 I'm considering and I believe mine is the nicer of the two (other than the fact that I prefer the black color).

I value your opinion and will keep all that you have shared in mind. I think I'm going to put a 20K offer on the table and see what happens.

Thanks,

Mark

acmjg · #17 (**permalink**) 05-28-2008, 11:48 AM

I have a '67 S code Fastback here in Cape Coral, FL. My car is pristine, but the 390 was getting tired and I installed a 428 with all the 390 goodies bolted to it. Basically I switched out the short block. My car was also a non- AC car, but I bought the "Perfect Fit" system from Classic auto air in Tampa and the kit comes with all the dashboard vents as the original had. Works great. I have been offered 45K for mine as it sits (last year).

The back of the driver side block below the head was not stamped until '68 so no one but you will know that a 428 is in there. The original block really means nothing except to the absolute purist. A future buyer will want the car or not- the purists are few.

My air cleaner still says 390, but for the local Autozone gatherings, I have a magnetic "428" that I put over the 390 on the air cleaner. I take it off for the "Purist" shows.

If it was close to me, I would pick it up for sure.

Anthony

acmjg · #18 (**permalink**) 05-28-2008, 02:57 PM

From the Cobra-Jet site:
"Starting in 1968 Ford began stamping partial VIN information on a pad just under the back of the driver's side cylinder head of all factory-installed 428 Cobra Jet engines to comply with Government-mandated regulations. Service blocks didn't receive VIN stampings, so as engine swaps have taken place over time it has become very difficult to keep up with this "matching numbers" reality. Once an engine is installed it's practically impossible to see this stamping even if it does exist!"

I know I have read this elsewhere, but they only started stamping the blocks in '68. I could be wrong- won't be the first time!

Anthony

sportyworty · #19 (**permalink**) 05-28-2008, 03:40 PM

Quote:

Originally Posted by mrmustang

Actually Ford started stamping VIN's on the HiPo blocks starting in 1965. Sorry, but it is a FORD, MCA, and SAAC documented fact on these cars.

1965/1966 "K" Code 289 4V HiPo engines
1967 "K" and "S" Code engines
1968 "J","S","R",and "Q" Code engines

Just to name a few......

Bill S.

No Q code in 68 and you forgot X code also not all production blocks got vins.

mrmustang · #20 (**permalink**) 05-28-2008, 04:15 PM

Quote:

Originally Posted by sportyworty

No Q code in 68 and you forgot X code also not all production blocks got vins.

Actually two "Q" Code 68's are known to exist (marti book does not show it, but they are there and I have seen both up close and in person), you are correct, I missed the 390 2V "X" code engines in my haste to post before.

Bill S.