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Need a Reality Check - Considering Selling my FB

Starfury

Well-Known Member
Hi guys. I still check in here periodically, just haven't posted in a while.

I had a guy roll up to my house yesterday as I was getting back from work and ask about selling my '67 fastback. My normal response is "sorry, it's not for sale," but it's something that's been rattling around in the back of my mind for the past 6mo or so, so I asked him to shoot me a number. He came at me with $20k, and I shrugged it off, so he came back at $25k. I took his number and told him I'd consider it, but that it wasn't something I was actively trying to sell.

I've had this car since 2001. It was my only car for 8yrs, and has been cared for progressively less and less as I got older and life happened. It's still drivable, but it does need some care. A lot of the bushings that I replaced two decades ago are old and dry. The interior is showing its age, as it now needs a headliner, upholstery, and the dash pad and panels are definitely in the "worn" category.

The engine is amazing. I built it, so it's what I wanted when I was mid-20s. 331, TFR heads, aggressive cam, etc. It probably has 30k on it, but it runs like a scalded cat.
Current transmission is a close ratio top loader I scavenged a while back. I also have an Astro Performance T5 that I'm in the middle of rebuilding (still), which will come into play later.

The body is unfortunately a bigger project than I can tackle myself. I knew the car had been hit in the rear before I got it, but when I replaced the fuel tank last year and pulled the liner out of the trunk, I found the crumpled left rear frame rail that was never properly fixed. The trunk seems to seal well enough, but the back end behind the wheel wells is shifted to the right about an inch and the bumper doesn't fit correctly.
All of this needs to be fixed before any body work, and a repair this intensive is likely to get well into six figures.

While I love my car, I don't drive it enough. It's a beast of a vehicle, not easy to get in and drive, and is impossible for my wife or daughter to even consider driving (hot cam, manual steering, manual brakes), which makes passing it off to my daughter difficult.

If I were to sell it, I'd want to make sure I get enough to pick up a 65-66 coupe in nicer shape, at least from a body standpoint, with enough extra to throw at fixing it up the way I want. I can do engine and suspension stuff myself, and could even throw my existing T-5 in it. My wife likes the first gen coupes a lot more, and some upgraded WAF would help with the extra car sitting in the driveway and raising our insurance cost.

Thoughts? What would you do? How does the market for 67-68 fastbacks look right now?
From some quick research on Facebook marketplace and Craigslist, I'm getting the impression that $25k is on the low side for a drivable Fastback that isn't rusted out. If I can pull more out of the Fastback, that's that much more that I would have available to spend on a coupe.
 
You could add power steering and brakes to the car, then maybe it'd be something you could pass on to the daughter.

You could always throw up an offer on some of the sites to see of someone with a coupe you like would be interested in a full/partial trade.
 
$25k is not unreasonable to a knowledgeable Mustang person, considering the cost it would take to bring it up to #2 condition: the frame rail, interior, possibly paint, etc. Yes, it is on the low side, but the car, as you describe it, is needing a fair amount of work. You could counteroffer $30k, expecting to settle at $27.5k, which would probably make both parties happy.
 
Thanks guys.

You could add power steering and brakes to the car, then maybe it'd be something you could pass on to the daughter.
Yeah, EPAS is probably on the docket. I was already working on the T5 conversion to help with drivability, and EPAS was the next big chore. Power brakes are probably more feasible if I build a more sane motor (or go with a roller cam).


$25k is not unreasonable to a knowledgeable Mustang person, considering the cost it would take to bring it up to #2 condition: the frame rail, interior, possibly paint, etc. Yes, it is on the low side, but the car, as you describe it, is needing a fair amount of work. You could counteroffer $30k, expecting to settle at $27.5k, which would probably make both parties happy.
The more I think about it, the more I like this idea.

The guy isn't a mustang guy. He seems like a flipper. Didn't know what year it was, and any proper mustang nerd would know a '67fb from a mile away.
But money talks, and if he brings cash to the table...

I'm still going to sit on it for a week to see how I feel, and give the guy time to stew.
 
I would do a bunch more research on current market sale prices. Basket case early fastbacks routinely sell for upper teens and more. I mean fully rotted out hulks. The introduction of aftermarket bodies has not impacted the value of real originals much if at all. Don't think needed sheet metal work should make the price plummet. To a guy with the skill to repair it all it is not nearly as daunting as you think. With the knowhow and tools a serious dude could get it all done in a matter of days.

Your driveline alone is worth $7-8k on top of the body price. Try to find a good toploader for under a grand. Add in the clutch and flywheel plus a high end stroker. You know the cost to buy all that and put it together. Anyone who has ever really built a car from the ground up knows how much goes into it. Even a basic restored coupe will run you every bit of $50k to do complete, on average. Fastbacks typically more as unique parts command higher prices.

Without more detail and pics I can't be certain but I'd set your floor at $30k. You can run out today and buy all the stuff to refresh the interior for less than $2k. Probably much less if you shop well. Then you have a car with a "new" interior and a fresh, killer drivetrain. Now how much do you think its worth? Remember, you know all the hidden "flaws" the buyer(s) don't. They see a bad ass '67 fastback that normally costs over $50k. Don't sell it short just because a guy stopped by and lowballed you. If he is a flipper as you suspect he is thinking just as I am about the true value.
 
OR......
Keep it. Do one upgrade/fix a year while keeping it drivable. Take it to a cars and coffee once in a while. Go to lunch in it.

I do agree with the further research and starting high on bids. Hey its your car.
 
I’d keep it and civilize it in your case, and quickly so the daughter gets some memories of her own in it.
The low baller will only go lower not higher when he sees the frame kink and tired interior.
Get a quiet exhaust, mild shocks and EPAS, some EBC red pads or Porterfiels all around for more bite, and make a point of using the car for some family outings. Etch it into their DNA
 
I’d keep it and civilize it in your case, and quickly so the daughter gets some memories of her own in it.
The low baller will only go lower not higher when he sees the frame kink and tired interior.
Get a quiet exhaust, mild shocks and EPAS, some EBC red pads or Porterfiels all around for more bite, and make a point of using the car for some family outings. Etch it into their DNA
Unfortunately that's many thousands of dollars of upgrades and project time I just haven't had lately.

It's not pretty, it needs the 5sp, EPAS, a headliner, and probably AC to be reasonably drivable by my wife, let alone the kid.

Based on some research over the past week, it seems like I can find a 65-66 coupe in much better shape for $20-26k. If I can get 30+ for the Fastback, I can funnel the remainder into some QOL upgrades like EPAS, AC, and suspension, put the 5sp swap back on the schedule, and have something that the family will actually want to drive (the kid can learn to drive stick, dammit). And as the kid actually starts driving in general, I can transition to driving the coupe to work whenever I'm not riding the KLR, and the kid can drive my current daily, a '17 Civic.

If I can't actually get 30+ for the Fastback, I'll need to regroup.
 
My advice is to shop around for the needed bits and re-do the interior. At least to the point it is appealing to the not so discriminating eye. This can be done on a budget and will do the most for improving the sale price. Plus, it can be done in a weekend or two. Whatever money you put in will come back and then some.
 
My advice is to shop around for the needed bits and re-do the interior. At least to the point it is appealing to the not so discriminating eye. This can be done on a budget and will do the most for improving the sale price. Plus, it can be done in a weekend or two. Whatever money you put in will come back and then some.
$2k later...

Headliner is toast. The seams gave up last year, which is a shame because the fabric is in great shape.
Front '69 high back seats are starting to split at the seams and need to be reupholstered.
Rear bench is split at the hump and needs to be reupholstered.
Dash pad is warped.
Carpet needs to be replaced.
Dash panels are faded.
Etc....
 
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Yep. $2k spent along with a few days work and you not only add three to four times that investment in resale value but you also broaden the range of buyers a good deal. Do this and go from a $20k asking price to a $30k asking price.

I'd go a step further and seek out a set of '67 front seats and replace those in there now. You can even profit a bit doing this as you can find the seats you need for less than you'll be able to sell the seats you have now. Buy something today for $100 sell it next week for $200. You could do the same to fund the whole interior refresh. Just have to spend some time online watching the market and buy right. Since sleep is a thing of the past for me its pretty easy to find an hour or two early morning or late at night to find the bargains.
 
Yep. $2k spent along with a few days work and you not only add three to four times that investment in resale value but you also broaden the range of buyers a good deal. Do this and go from a $20k asking price to a $30k asking price.

I'd go a step further and seek out a set of '67 front seats and replace those in there now. You can even profit a bit doing this as you can find the seats you need for less than you'll be able to sell the seats you have now. Buy something today for $100 sell it next week for $200. You could do the same to fund the whole interior refresh. Just have to spend some time online watching the market and buy right. Since sleep is a thing of the past for me its pretty easy to find an hour or two early morning or late at night to find the bargains.
I think you and I have completely different ideas of "free time" and "project funds" ;)

I also think that's quite a bit more than a few days' work.

But suggestions are still appreciated :)
 
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