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Author
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Topic: 1968 Mustang GT
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hrvat
Journeyman Posts: 4
From: San Diego, CA 92101
Registered: May 2006
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posted 05-03-2006 02:41 PM
 
I am curious if any one would be willing to put in writing and sign a paper stating that a 1968 Mustang GT in excellent shape with minimal miles would be worth 55,000 dollars. This is for a student project and your help would be appreciated. ------------------
K. Grgurevic
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Scott H
Gearhead Posts: 1480
From: Chicago area
Registered: Mar 2005
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posted 05-03-2006 02:46 PM
I'm a certified judge for the Mustang Club of America, and I do appraisals on classic Mustangs. But not without seeing the car. Speculation is worthless.
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hrvat
Journeyman Posts: 4
From: San Diego, CA 92101
Registered: May 2006
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posted 05-03-2006 02:55 PM
quote:
Originally posted by Scott H:
I'm a certified judge for the Mustang Club of America, and I do appraisals on classic Mustangs. But not without seeing the car. Speculation is worthless.
I agree with you... it is a speculative project based on the facts that the car is in pristine condition, top quality paint job... because the project is an in class assignment I just need from someone with credibility would say that this car could be priced in at $55,000... this information will not reach anyone other than my class mates and myself... but would be used to show that the car's value could reach at least if not more than $55,000...
------------------
K. Grgurevic
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mustangs68
Moderator Posts: 27681
From: Hampton Va MCA#39406 M&M #12 Member Mustang Club of Tidewater
Registered: May 99
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posted 05-03-2006 04:46 PM
Best thing to do is do research online and find a similar Mustang(s)and use that as your base for value.Sam
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ericcasas
Journeyman Posts: 99
From: Austin, TX
Registered: May 2005
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posted 05-03-2006 05:57 PM
quote:
Originally posted by hrvat:
[QUOTE]Originally posted by Scott H:
[b]I'm a certified judge for the Mustang Club of America, and I do appraisals on classic Mustangs. But not without seeing the car. Speculation is worthless.
I agree with you... it is a speculative project based on the facts that the car is in pristine condition, top quality paint job... because the project is an in class assignment I just need from someone with credibility would say that this car could be priced in at $55,000... this information will not reach anyone other than my class mates and myself... but would be used to show that the car's value could reach at least if not more than $55,000...
[/B][/QUOTE]
Just write the appraisal yourself and sign it "Scott H". >8P -E ------------------
http://ericcasas.mustangsandmore.ws
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Fastback68
Gearhead Posts: 4511
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 05-03-2006 06:46 PM
It seems to me like you have things the wrong way round. You should be asking a knowledgable person how much such a car MIGHT be worth, rather than telling the knowledgable person what figure you want him/her to give. No?
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68 S-code GT
Gearhead Posts: 3835
From: Sayreville, NJ, US
Registered: Mar 2000
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posted 05-03-2006 10:27 PM
It a vague question! You never say what options or body style the car is. It’s asking someone to tell you if this Ford is worth $55k.
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hrvat
Journeyman Posts: 4
From: San Diego, CA 92101
Registered: May 2006
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posted 05-03-2006 10:35 PM
you have all posted amazing replies and very helpful information... opposed to telling you all that the only information I have is what I have listed, I have to say that I have checked 700 websites and recieved different reports about the cost of specific 68 Mustang GTs on the market and what has been sold... I know that I can write my own letter and sign it with anyones name upon it, but what is the point??? I just thought there might be a nice person, with some credentials, out there in the world who would attest to the fact that it is possible that a 1968 Mustang GT in pristine condition and a perfect paint job would write a short letter stating that fact... it is not a requirement but it shows that I am trying to do some research for my class... and not just looking on the internet as the rest of the class is most likely doing... so thank you guys for the help, as best as you could be... I am sure what I have retreived will be enough... ------------------
K. Grgurevic
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Fastback68
Gearhead Posts: 4511
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 05-03-2006 10:58 PM
quote:
I just thought there might be a nice person, with some credentials, out there in the world who would attest to the fact that it is possible that a 1968 Mustang GT in pristine condition and a perfect paint job would write a short letter stating that fact...
I'm intrigued by this thread, so I will sort of give you what you want 
As a fairly knowledgable person in this area, I will hereby state that an all-original big block fastback or convertible 1968 Mustang GT in concours condition could fetch $55,000 if sold at auction by Barrett Jackson, at which buyers are well known for paying over par. On the open market, in the US, such a car could be expected to fetch $35,000 tops. However, a 1968 1/2 GT 428CJ could fetch $55,000 - again, if in concours condition.
Simon Ward, Mustang restorer, Manila, Philippines.[This message has been edited by Fastback68 (edited 05-03-2006).]
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RICKS
Gearhead Posts: 438
From: Ocala, FL
Registered: Mar 2001
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posted 05-04-2006 09:49 AM
Just to clarify, "1968 Mustang GT" is FAR TOO VAGUE to be talking about values. You've got to drill-down further to an actual body-style and driveline. That's where the biggest differences in value exist. It doesn't have a damn thing to do with condition. You could have the worlds best, most perfect, '68 Mustang GT, but if it's a coupe, with a 302-4V, with no options and manual steering and brakes, you'd never see more than $25-30K for the car, and it would have to be a world-beater. If it's a convertible or fastback, then it's a different story. If it's a big-block, then it's a different story. If it's heavily optioned, then it's a different story. You can't pin an arbitrary value on a '68 GT without AT LEAST specifying bodystyle and motor. Because those two areas ALONE could double or triple or even quadruple (like an R-code convertible) the value of the car. In short, I understand what you're trying to do, you're just not understanding that '68 Mustang GT's come in all different combinations of bodystyle and engine, and the values swing WILDLY depending on the combination the car has. Cars are not valued just by year and model, it's gotta have a particular motor under the hood to reach the $55K mark. I've got a 1970 Mustang Mach 1 with a 351-2V under the hood, real low miles and pristine, that's probably worth around $40K (maybe a bit more in this nutty market, who knows). If it had a 428-4V under the hood, you could DOUBLE that figure. If it had the drag-pack option, you could possibly add yet another $20 grand to the value. So, your question is a bit like coming on a website and asking how much a hamburger is worth. Are you talking about a McDonalds cheeseburger off the .99 cent menu, or are you talking about a fully-involved Wendy's triple?? All hamburgers are not created equal, and all '68 GT's are not as well.
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Fastback68
Gearhead Posts: 4511
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 05-04-2006 10:31 AM
quote:
In short, I understand what you're trying to do
Do you really? Please explain 
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hrvat
Journeyman Posts: 4
From: San Diego, CA 92101
Registered: May 2006
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posted 05-04-2006 11:49 AM
ok... it appears that my simple question is being over analyzed by the parties involved... I am not an ignorant person... I maintain a master's degree and am working on a certificate in law studies... I know that there are factors that are involved that would make the car more or less valuable... i.e. motor, component parts, and options... I own a car and make repairs on it myself... I understand the passion that you all emit from your lives towards these cars... I think it is a similar passion I have for things in my life... If this was a real case (law) where I had to prove the price of a car... I would have the information that you are in need of... unfortunately I do not... the only information I have is a it is a 68 Mustang GT... it is in great condition... and it has a new top quality paint job... do you think that I would be so ignorant to not put in the type of engine if I knew the information???? I understand your inability to price this car.... you cannot see it... you cannot touch it... you cannot smell the engine... however, again... if this were a real case and I represented a client and was willing to pay you $300 per hour for your testimony in court... each one of you would be banging down my door to have an opportunity to write a small note to me concerning the situation... I am not though able to pay anyone $300 dollars for this information because I am not able to turn and have my client pay me for that expense... I am a STUDENT... I am asking for your expertise... and I think I have it now... I just needed one person who had some credibility to step forward and give me the information needed.... so here we go... would someone now, speak to this...I have a 1968 Mustang GT 2 door Fastback with a 302/230 HP V8 engine 4 speed transmission Air conditioning Mustang Pony Interior Ram Air with a HIGH retail Value in excellent condition overall.. well maintained original vehicle showing very minimal wear. how is that for some information??? can anyone attest to that information??? Keep in mind... THIS IS NOT FOR REAL... IT IS FOR A CLASS WHERE I REPRESENT A CLIENT WHO LOST THIS CAR IN A FIRE.... I AM FIGHTING AN INSURANCE AGENCY WHO ONLY WANTS TO PAY THE LEAST AMOUNT!!!!! thanks ------------------
K. Grgurevic
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Scott H
Gearhead Posts: 1480
From: Chicago area
Registered: Mar 2005
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posted 05-04-2006 12:15 PM
quote:
Originally posted by hrvat:
a 1968 Mustang GT 2 door Fastback with a 302/230 HP V8 engine 4 speed transmission Air conditioning Mustang Pony Interior Ram Air with a HIGH retail Value in excellent condition overall.. well maintained original vehicle showing very minimal wear. how is that for some information??? can anyone attest to that information??? Keep in mind... THIS IS NOT FOR REAL... IT IS FOR A CLASS WHERE I REPRESENT A CLIENT WHO LOST THIS CAR IN A FIRE.... I AM FIGHTING AN INSURANCE AGENCY WHO ONLY WANTS TO PAY THE LEAST AMOUNT!!!!!
This is EXACTLY the kind of information that would have been helpful in your original post.
Your theoretical car I would probably value closer to $40,000 rather than $55,000, but there could be extenuating circumstances that as an appraiser I would consider increasing the value. I've been in this situation in real life, trying to prove the value of something that was lost. Some things that came in to play were:
Did the agent who sold the policy inform the client of the differences in Agreed Value, Stated Value, and Replacement Cost?
If not, the agent could be named in a lawsuit as well as the insurance company. This might make settelement for a higher dollar an easier proposition. Did the client ever have an appraisal on file with the insurance company? Even if it was an older appraisal, it shows intent to insure the vehicle beyond an 'average' value. Did the client have any supporting paperwork for recently completed restoration work? A $10,000 paint job that is 10 years old would most likely be depreciated by anyone assessing value. But if the work was done within the last year, he should get full value for paint work. I understand this is an excercise, or mock trial, and having these facts included in the scenario will make the outcome more realistic.
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RICKS
Gearhead Posts: 438
From: Ocala, FL
Registered: Mar 2001
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posted 05-04-2006 12:17 PM
It might be worth $55K if you found briefcase with $30K in unmarked bills in the trunk. Otherwise, $25K-$30K car.There's a monumental difference between excellent condition with a new paint job, and the fully concours restored cars that bring the high money you see on TV. So I'd call that car a $25-30K range, tops. Hope that answers your question. I find your reaction a bit over the top, considering that we were just trying to help, and you gave us nothing really to go on. Even if you paid me as an "expert witness", I wouldn't lie and say the car's worth $55K. Nobody hear is questioning your age or education. But considering that "pony interiors" were not offered in 1968, and "ram air" was only installed on 428-powered cars in 1968, your level of education and ability to work on your car doesn't allow you to start ranting and raving at folks who know far more about the topic at hand. We weren't trying to insult you, we were just trying to get enough info to craft an answer that was something more than being just plain silly. Sorry for touching a raw nerve...
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Scott H
Gearhead Posts: 1480
From: Chicago area
Registered: Mar 2005
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posted 05-04-2006 12:34 PM
quote:
Originally posted by hrvat:
I am not an ignorant person... I agree, your writing style indicates a person of intelligence, and I don't think any of us said otherwise.
I maintain a master's degree and am working on a certificate in law studies
So you are aware of how specific the law can be, and we are just trying to work within those parameters. the only information I have is a it is a 68 Mustang GT... it is in great condition... and it has a new top quality paint job... do you think that I would be so ignorant to not put in the type of engine if I knew the information???? The instructor who issued this challenge is setting you up for failure by giving an assignment with not enough facts to properly prepare, argue, or negoiate the case. I understand your inability to price this car.... you cannot see it... you cannot touch it... you cannot smell the engine... So you understand it would be similar to asking a coroner to testify as to cause of death without having seen a body or an autopsy report.
I am not though able to pay anyone $300 dollars for this information
We didn't ask for money, we only asked for enough information to properly give you an answer that had meaning, and not appear in the process to be fools
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mustangs68
Moderator Posts: 27681
From: Hampton Va MCA#39406 M&M #12 Member Mustang Club of Tidewater
Registered: May 99
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posted 05-04-2006 04:55 PM
Let's flush this out.Are you working on a case project involving a Classic Mustang which for some reason has been destroyed and a fair price has to be reached? PS..I have some of those things hangin' on the wall and they just collects dust,I don't have to maintain them
(I'm just joking now) Sam
[This message has been edited by mustangs68 (edited 05-04-2006).]
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6750H0
Journeyman Posts: 25
From:
Registered: May 2006
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posted 05-04-2006 07:23 PM
ok this is for real
I have a 67 mustang coupe 289 right now everything is orignal except the engine(91 5.0 HO CARBED,so no more 289)rims and paint job.(paint job is very sweet.pearl/metalic/red with orange and pink flakes.)
So my big question is whats my car worth.
and how much would it be worth if i were to go orignal again.ps:sorry for posting here.
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sigtauenus
Gearhead Posts: 3969
From: Va Beach
Registered: Jun 2000
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posted 05-04-2006 09:45 PM
quote:
Originally posted by 6750H0:
ok this is for real
I have a 67 mustang coupe 289 right now everything is orignal except the engine(91 5.0 HO CARBED,so no more 289)rims and paint job.(paint job is very sweet.pearl/metalic/red with orange and pink flakes.)
So my big question is whats my car worth.
and how much would it be worth if i were to go orignal again.ps:sorry for posting here.
Your car is only worth what somebody is willing to pay for it. Your definition of sweet paint is much different than mine. Much like the definition of "no rust" or "rust free" is much more like an opinion than a definition...everybody has their own idea as to what they mean, and for some people, their definition changes with the wind. I could say I'd give you 2,000 for it, but you'd likely be insulted. I could say 20,000 and you'd likely break your arm reaching for the title before I changed my mind. Somewhere in between is the answer, and like has already been mentioned, we can't even begin to guess without more details and certainly cannot narrow it down without seeing it in person. As for original or not, unless its a rare car, I'd say you're better off with the paint you have if it really is nicely done. It doesn't make much sense to spend 5 grand on a paint job making it original just to get 1-2 grand more in selling price, which is likely to be the case. Again, we're talking about an average coupe. Shelby, Boss, Mach 1, etc, are another story.
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sigtauenus
Gearhead Posts: 3969
From: Va Beach
Registered: Jun 2000
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posted 05-04-2006 09:57 PM
quote:
Originally posted by RICKS:
It might be worth $55K if you found briefcase with $30K in unmarked bills in the trunk. Otherwise, $25K-$30K car.There's a monumental difference between excellent condition with a new paint job, and the fully concours restored cars that bring the high money you see on TV. So I'd call that car a $25-30K range, tops. Hope that answers your question. I find your reaction a bit over the top, considering that we were just trying to help, and you gave us nothing really to go on. Even if you paid me as an "expert witness", I wouldn't lie and say the car's worth $55K. Nobody hear is questioning your age or education. But considering that "pony interiors" were not offered in 1968, and "ram air" was only installed on 428-powered cars in 1968, your level of education and ability to work on your car doesn't allow you to start ranting and raving at folks who know far more about the topic at hand. We weren't trying to insult you, we were just trying to get enough info to craft an answer that was something more than being just plain silly. Sorry for touching a raw nerve...
Rick, nicely worded. Correct and to the point. In all fairness though, this guy is in law school and doesn't know Mustangs. The options he listed are available on the NADA classic car guide, and if they were all possible on one car, would get you a high retail value of 48,160 in Virginia Beach. That being said, you would have to know that what NADA guide refers to as the Mustang Pony Interior which increases a cars value by 10% easily correlates to the 68 deluxe interior. If he had selected the 428 CJ instead of the 302, he would have a NADA high retail value of $58,695. Real question here should be, why does he need a statement from one of us about the potential value of a car when he can get a quote that meets his criteria from an officially recognized medium such as the NADA guide?
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Fastback68
Gearhead Posts: 4511
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 05-04-2006 11:03 PM
quote:
Real question here should be, why does he need a statement from one of us about the potential value of a car when he can get a quote that meets his criteria from an officially recognized medium such as the NADA guide?
Exactly my thought.
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RICKS
Gearhead Posts: 438
From: Ocala, FL
Registered: Mar 2001
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posted 05-05-2006 09:27 AM
Well, it's all an exercise in futility, as we all know that a 302-4V GT wouldn't likely stretch to the realm of high 40's (unless it was truly a thoroughbred), and we ALL know that going from the 302 to the 428 would add one hell of alot more than a $10K or 20% premium to the car. So the NADA doesn't reflect the true market in this instance. 6750HO, it's just not possible to value your car on that description. Your definition of "nice" could be the hobby's definition of "project", and I don't mean that in a bad way. Your car could actually be very pristine and straight and clean and unmolested. But we can't tell from here, and you may not be qualified to make that assertion. The value of a car is based on so many things. A car can appear to be a show car, but you crawl underneath and you can poke holes through the frame with a screwdriver, and the bottom of the outer panels are formed out of bondo and chicken wire. A car that "looks" like it's worth $25K, could in reality be worth $5K on close inspection. We can give you ballpark values for cars in different levels of condition, but we can't tell you what condition your car is. You may think it's mint, and we would tell you it's rough. Or, you could have a real diamond on your hands, and we wouldn't know, because we don't know what your standards and experience level is. If you want to learn more about your car's value, don't ask online, get involved with a local MCA chapter. Go to www.mustang.org and find the Mustang Club of America chapter nearest you, and join up!! Then you'll have access to folks who can give you the straight-scoop, seeing your car in-person. We really can't help you here, any figure that we would toss at you would be worthless, collector cars aren't valued like baseball cards. They've got alot more complexity than simply saying "I've got a 1975 Hank Aaron, no tears, mint".
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Fastback68
Gearhead Posts: 4511
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 05-05-2006 12:47 PM
hrvat, I have this urge to speak frankly. Chances are I'm completely wrong, so please don't get too mad.
Here in Mustang land, we spend a lot of time discussing scam artists on e-bay and the like. We're really quite expert at it, I think!
Your initial request was so naive and uninformative, it got me suspicious. Then you started saying how you wanted to be different from your classmates and not rely on the Internet, but you had searched no fewer than 700 websites. Then late in the day you came out with some vital info about a car that never existed.
I only speak for myself, but I felt all along that your presentation - if sincere - was all wrong. I think there should be a lesson in this for you. Trust the people you're dealing with and lay it all out on the table from the get go.
But when all is said and done, I'm still not convinced. What you claim to be trying to achieve makes no sense, law student or otherwise, unless ...
Sorry all, this is not my style. But this whole thread is so ridiculous, I can't help but smell a rat.
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