I have an opportunity to purchase a 68 GT Fastback with the following specs:

390 4 Speed S Code
Engine, Transmission and Posi Rear rebuilt 300 miles ago.
Original raven black paint
Original ivy gold interior
New dual exhaust
New tires
Power Steering

The paint hasn't had any work done on it ever. Because of this, there are several minor topical rust spots, and only a very small rust spot (about the size of a pencil point) that goes through the corner seam of a quarter panel. It is not visible unless you are underneath the car, or looking through the trunk.

I test drove the car today and it felt great to drive...perfect transmission, perfect handling, and the engine felt top notch.

As indicated above, the engine and transmission were rebuilt a few hundred miles ago, but the exterior and interior of the car don't look like they have been touched since 1968. Everything is original, but seems weathered and used.

The asking price for the car is $28,500. If anyone could let me know how this price seems, I would appreciate it. The car has everything I want and I feel is perfect for me, but I'm not sure about the price. What do you guys think? Any response would be appreciated.

 

I personally wouldn't pay over $25k for a 390 4spd GT. If I were to pay $25k, it would have to be in mint condition. If you have been looking for a certain style, color, interior color for a while. I can see how it might be worth that price to you. The bottom line is if you are going to keep the car for a good while, and it is exactly what your looking for and money is no issue, go for it.

Here is a link to one for $24k. The wheels need to be replaced, but it doesn't look to bad. I'd probably offer $18k for this one.

http://adcache.collectorcartraderonline.co.../0/75504410.htm

 

Price is way out of line for having rust present (that you can see).