Value of a 1967 Mustang
12/22/06, 11:42 AM
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Value of a 1967 Mustang
My father died recently. A few years after my mother. They loved their cars, kept them, if they didn't have the money to upkeep them or store them well. They wanted me to inherit these cars, never to sell them, problem is now I'm alone, next to broke, I don't have the money, time, or even knowledge to fix them up. And storage for them is over 100$ a month. I can pay that, for a while, but I'd rather sell the cars, try to move on with my own life. They cared for me too much -- I haven't even learned to drive yet. Now I have to find a way out of my friend's home, get that license, get another job since my friend wasn't remotely near public transit and I can't get to the job I had now. And of course pay rent all by myself. Lots of fun. Point, I need to get rid of the cars. But also I'm not much of a car person -- pop flatly refused any purchase offer and got a lot of them just for having the car parked whereever. He never did discuss, in the event of his demise, what I should ask for the car he didn't want me to sell. I don't think he planned on dying before I was really even prepared to make a life for myself.
So -- I'm hoping for guidiance about pricing this car. Not really selling it yet. Every time I try I find offers too easily, makes me suspcious I'm being an idiot and practically giving away father's prize. To me the car is priceless, but if I have to get rid of it I certainly want what it's worth. As much as I can get... Anywho, I figure mustang enthusiasts can help educate me. Thanks to anyone spending their time to do so, even.
The mustang in question is 1967, fastback, I believe it has a 390 engine. Locks on the hood, couldn't open it when I last visited for forgetting those keys, but I'm next to 100% certain I do have them. They're odd little keyholes and I have a pair of odd lil' keys that seem to match. I suppose to prevent theft pop left it in the storage yard unlocked, if with the hood latched, so I did get to see/photograph the VIN everyone wants to know when I try selling it -- sadly a recent hard drive crash has destroyed that image, and the car is about an hours' drive away -- can't give ya that data. As to why I think it's a 390 engine -- pop's passwords on his computer (I'm a computer person, knew his) were always mustang related, and so maybe that was handy in that it gave me some specs to his car. GTA 390 was the core of it tho. Anywho -- that's the basics for what the car can/should be, let's move on to what it's become...
My parents didn't have great finances, we got evicted a time or two, by then the car had broken down (the "steering box" or somesuch had cracked. We turned right one time and the car never turned again. Pop said he found a machine shop on the web, in CA, that would take his old part and rework it -- but that was years after and he never did so) and so we stored it. I thought it was stored a bit better than it was -- was horrified of what became of it when I first saw it. The car is whole, mostly what I knew it to be, but it'd be left out in a parking lot, gated, but exposed to rain and weather and basically it's become quite rusty. The body still seems to have integrity, this isn't push-on-it-and-watch-it-fall-thru rust. But it's not pretty either. The car will need some body-blasting of rust, etc. Basically it's sat for about a decade -- the tires have disintegrated, I hear the rubber tubing will all need replacement, the engine will need disassembly and cleaning and of course re-assembly. And for father's working on some of the car, me moving in a hurry, there were some internal panels that were lost. Nothing driving essential, etc, I'm thinking he replaced the door's window crank or somesuch at one point, but never got the panel back on. Stuff like that. The car isn't tip-top, but it is restorable. And it'd be a **** fine car for whomever did so...
Pop did find on the web some sort of report he could get with a VIN number -- one mustang fan suggested this must be a "Marti Report" -- basically someone had bought access to ford's mustang database and sells data regarding the vehicles, rarities, etc. I remember pop's car being something like 1/300 or somesuch, seemed rare to me. I can't swear to this, couldn't find the report as I went thru pop's belongings/packed 'em up. I found no car title, if there even is one. The Tax Commission of his county said that a car of this age doesn't need a title to be sold -- basically one simply writes a bill of sale. Regardless, the car isn't even mine yet -- I have to wait for probate court to decide I'm in fact the administratior or executor or whatever the proper title is, to manage his belongings. Doesn't change that I'm stuck with the bills -- and not allowed in his bank accounts for the cash yet. I love society...
So.. This is pretty much all I know about the car -- that and my sales-effort experience. First time I listed the car with no price, I quickly got a few offers of 5000$ without even inspecting the car. I don't mind a buyer seeing it, I'd like them to, and if I'm thrown a few 5000$ offers I'm thinking the car is worth more. So later, I posted again. Asking 10000$, just to be greedy. Actually my suggestion was 10000$ as a base price, and since so many wanted to see it, since it's hard for me to get out to this car, basicallly we agree on a day, all show up, and if they want to they can out bid each other. Got an offer of 7000$ now, 5000$ more once probate cleared, if I simply would ignore all those other people. Which makes me suspcious that even 12000$ would be a good price. This car is too emotional for me, too much effort, too much worry, too much money -- but the one thing I absolutely do NOT want to do is think back on it the rest of my life, kicking myself for giving gold away for coppers. And yet I don't know what to really ask for the car -- what I should ask based on actual worth. Please, help. Tell me your thoughts.
So -- I'm hoping for guidiance about pricing this car. Not really selling it yet. Every time I try I find offers too easily, makes me suspcious I'm being an idiot and practically giving away father's prize. To me the car is priceless, but if I have to get rid of it I certainly want what it's worth. As much as I can get... Anywho, I figure mustang enthusiasts can help educate me. Thanks to anyone spending their time to do so, even.
The mustang in question is 1967, fastback, I believe it has a 390 engine. Locks on the hood, couldn't open it when I last visited for forgetting those keys, but I'm next to 100% certain I do have them. They're odd little keyholes and I have a pair of odd lil' keys that seem to match. I suppose to prevent theft pop left it in the storage yard unlocked, if with the hood latched, so I did get to see/photograph the VIN everyone wants to know when I try selling it -- sadly a recent hard drive crash has destroyed that image, and the car is about an hours' drive away -- can't give ya that data. As to why I think it's a 390 engine -- pop's passwords on his computer (I'm a computer person, knew his) were always mustang related, and so maybe that was handy in that it gave me some specs to his car. GTA 390 was the core of it tho. Anywho -- that's the basics for what the car can/should be, let's move on to what it's become...
My parents didn't have great finances, we got evicted a time or two, by then the car had broken down (the "steering box" or somesuch had cracked. We turned right one time and the car never turned again. Pop said he found a machine shop on the web, in CA, that would take his old part and rework it -- but that was years after and he never did so) and so we stored it. I thought it was stored a bit better than it was -- was horrified of what became of it when I first saw it. The car is whole, mostly what I knew it to be, but it'd be left out in a parking lot, gated, but exposed to rain and weather and basically it's become quite rusty. The body still seems to have integrity, this isn't push-on-it-and-watch-it-fall-thru rust. But it's not pretty either. The car will need some body-blasting of rust, etc. Basically it's sat for about a decade -- the tires have disintegrated, I hear the rubber tubing will all need replacement, the engine will need disassembly and cleaning and of course re-assembly. And for father's working on some of the car, me moving in a hurry, there were some internal panels that were lost. Nothing driving essential, etc, I'm thinking he replaced the door's window crank or somesuch at one point, but never got the panel back on. Stuff like that. The car isn't tip-top, but it is restorable. And it'd be a **** fine car for whomever did so...
Pop did find on the web some sort of report he could get with a VIN number -- one mustang fan suggested this must be a "Marti Report" -- basically someone had bought access to ford's mustang database and sells data regarding the vehicles, rarities, etc. I remember pop's car being something like 1/300 or somesuch, seemed rare to me. I can't swear to this, couldn't find the report as I went thru pop's belongings/packed 'em up. I found no car title, if there even is one. The Tax Commission of his county said that a car of this age doesn't need a title to be sold -- basically one simply writes a bill of sale. Regardless, the car isn't even mine yet -- I have to wait for probate court to decide I'm in fact the administratior or executor or whatever the proper title is, to manage his belongings. Doesn't change that I'm stuck with the bills -- and not allowed in his bank accounts for the cash yet. I love society...
So.. This is pretty much all I know about the car -- that and my sales-effort experience. First time I listed the car with no price, I quickly got a few offers of 5000$ without even inspecting the car. I don't mind a buyer seeing it, I'd like them to, and if I'm thrown a few 5000$ offers I'm thinking the car is worth more. So later, I posted again. Asking 10000$, just to be greedy. Actually my suggestion was 10000$ as a base price, and since so many wanted to see it, since it's hard for me to get out to this car, basicallly we agree on a day, all show up, and if they want to they can out bid each other. Got an offer of 7000$ now, 5000$ more once probate cleared, if I simply would ignore all those other people. Which makes me suspcious that even 12000$ would be a good price. This car is too emotional for me, too much effort, too much worry, too much money -- but the one thing I absolutely do NOT want to do is think back on it the rest of my life, kicking myself for giving gold away for coppers. And yet I don't know what to really ask for the car -- what I should ask based on actual worth. Please, help. Tell me your thoughts.
12/23/06, 05:10 PM
#4
well....if you NEED the money....I would sell it for the best I could....but if you dont need the money enough to sell it for around $5,000 keep it for as long as you can....cause its only going to gain value as long as it doesnt get in any worse shape....it might be worth 10,000 next year...it all depends on the buyer.
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