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Prices
Hi all,
%/.... '64 - '66 Mustang fastback or convertibles.... I was just trawling through the many 'Hemmings' adds with my neighbour who is looking for a '64 - '66 Mustang. I'm not sure, but the prices seem to still be very high....:confused: Here we are experiencing a real drop in classic car prices. The Australian Ford GT HO in particular has seen prices drop about 25% - 30%. What are your thoughts do you see car prices for classics dropping? Guess I'm asking after the Mustangs in this case. Have they already dropped and this then is the right time to buy...:confused: The '64 - '66 fastbacks and convertibles....%/ Cheers Bernie |
The short answer is yes. When I was laid off I looked at selling my '67 and there was a significant, as you have found, price drop.
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The market for 64.5-73 Mustangs is down about 25-35% off the top shelf cars. The trickle down effect is now catching up and the lower quality cars are now dripping by at least that much. Of course sellers do not realize it yet, but they will when their cars sit on the market for months compared to those sellers who can see the market for what it now is.
Bill S. |
mrmustang
Thanks Bill, Just the person who would know the market there. Yes will keep looking and see what happens. Thanks for the feedback. Seeing fastbacks for $25 - $30,000 and convertibles for similiar, or even a little lower priced in some cases. I am always a little suspicious of the Mustangs that are newly painted in some of the dealers premises. As he is not a die hard enthusiast he is chasing a basic car. I'll keep a look out with him. Thanks again..:3DSMILE: Bernie |
ALL prices are dropping like a rock. BJ auction proved that (and those aren't even real world prices). Hemi cars that sold for $500K last year were selling for $120K or less. The same 429 Mustang that sold for $500K last year sold for $190K this year. I forget the actual numbers on Reggie Jacksons COPO Camaro but it was down well over 50%. Prices will continue to drop at least through the end of this year, maybe longer. Don't use todays asking prices as a guide for car value. The actual price fior the few cars that sell are quite a bit lower.
Jim PS. I don't know the value of Mustangs all that well but at a local major swap meet today, there was a beautiful 66 conv. 4 speed car that had no rust and looked like it was in showroom condition with new top and interior for $12K and nobody was even interested. It looked very nice to me. |
marcalan
Thanks yes thought so. Guess I'll keep looking and see what the market is offering. The aim was to get a good fastback. There is a lean towards the clone GT350 cars, but having said that he was starting to look at convertibles also. For interest I sold my '66 coupe about 5 years ago for $26,000. It was a good restored car with a full reco. engine and gearbox. The new owner still has it. We are now very good friends and his is still happy. Even lets me near it every now and then. I swap rides for the GT40..**) He even has it on his website at.. www.cadel.com.au...ooops sorry under re construction :LOL:...wish I could drive like this guy rides.. Thanks again Bernie |
jwd
Thanks. I spoke with Steve - Mulv - who is in Az. yesterday and he indicated the same when he attended the auctions there. I'm not sure just how far they will go down. Guess it all depends on the seller and the urgency etc. I mentioned that we have seen a real drop of dollar value in the Ford GT HO recently. The GMH Holden GTS have also dropped a bit as well. I'm wondering if some of these higher value cars were just a little over valued/priced here..:confused: Thanks Bernie |
Hi all again
%/ By the way I am looking in the 'on site' web address of 'Hemmings'. Is this the better of the sites to look at...:confused: I have also 'Googled' the words - '64 - 66 Mustang for sale. Any better sites...:confused: Bernie |
Bernie,
Hemmings is a very good site to get a line on the prices of any type of car, but they tend to list most of them a little higher than you can actually get one for. You might try looking up some of the larger Mustang Clubs as they have For Sale Forums just like we have here on CC. A 65/66 Mustang is almost impossible to buy in this area as the few around are either really all out show cars and not for sale or have been bought up to clone the GT-350s. Good luck with the hunt and I believe prices will continue to drop for a while as more people lost their jobs. I have been trying to get a guy that I know who restored a 65 to sell it to me for two years and he is still holding out but not quite so stubborn about talking about selling it now. Ron :p |
Ron 61
Ron Thanks I will try and find one or two of the clubs. Bernie |
BMK -- Hemmings online ads are also a month behind unless you subscribe.
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JWheaton
Yes I saw that some of the adds had been around for a while. Good bargaining if they have been for sale for a while..:confused: Bernie |
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