Is a Clean, Low-Mileage, Original Fox Mustang GT Worth Over $20,000?
For folks who remember buying these cars for pennies, current Fox Mustang prices may come as a serious shock.
I got my driver’s license the week of my 16th birthday in December of 2004. That means that shopping for my first car had begun in earnest sometime around two years prior. I can’t tell you when, exactly, the daydreaming started, but my parents would likely tell you that I was still in diapers.
Despite being barely a decade since the end of Fox Mustang production, nice examples weren’t exactly common. In fact, most were what you’d call “clapped out,” “rode hard, put away wet,” or simply “beat.” I learned a lot of new euphemisms as part of my car-shopping journey, and few of them had positive connotations.
I did, however, find one incredibly nice Fox at a small car dealership just a mile or so from my parent’s house. It was a two-tone Medium Cabernet and titanium 1988 GT with around 60,000 miles, more or less identical to the car seen here.
What Could Have Been
At the time, I could have brought that car home for $6,500. To a kid who was mowing lawns and babysitting for twenty bucks a night, that might has well have been a million dollars.
As the years went on, Fox Mustang prices continued to rise. At first, only exceptionally low-mileage cars or rarities like the ’93 Cobra topped $20k. Now, twenty-plus years removed from my wide-eyed, scrawny self staring at one like this at a dealership, even above-average Fox Mustangs are major money.
This car, found on eBay in Palmetto, Florida, was listed with a $20,995 Buy it Now. For folks like me who recall when these were just used cars, it may seem crazy to pay that kind of money for one. But ask yourself – when was the last time you saw one this original and nice? Even as Mustang fanatics, we don’t see them in original condition like this very often.
However, if you’re inclined to believe that this one is overpriced, you may not be alone. The bidding on this particular car only reached $12,100 before the auction ended, with the reserve price not met. We wouldn’t be surpised to see this one sell in the high teens, though. Like it or not, that’s the market on these cars now.
Photos: eBay
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