65 fb pricing

cjc6566 · July 9, 2007 at 7:17 PM

How much is a 65 k FB worth?

I have been a member for a while reading many of the topics to bring myself up to speed on most areas and watching the pricing conversations but still would like some help. I have found a car and the details are as follows.

Current owner has had the car since 1967, and has supporting documents of that fact. The miles on the car are 92k. All of the standard validating tests in Tony’s third edition (I haven’t bought 4th) are correct with the exception of the vin stamping on the block;(I don’t want to get into that discussion…someone could have blown it up in the first two years of its life or it was never stamped or seller is missing it, not a deal breaker for me either way). The seller can’t find it and I am out of state so I won’t have a chance to look until end of the week. The car has a poor paint job over what was a raven black car with red interior-survivor quality except driver seat. It has some small rust areas in one quarter (fist size) and a few other spots but for the most part pretty good base car. The car has not been licensed since 1977 but has been driven 2000 miles over that time to keep the fluids moving. The seller is aware of the value of the car so this is not a bargain…but it fits much of what I am looking for in a car. I was hoping with this little information a few members could give me their ballpark ranges for such a car.

link to pictures

http://www.kodakgallery.com/Slideshow.jsp?…47&conn_speed=1

Thanks

Cjc6566

Edited by - cjc6566 on 07/10/2007 14:42:17

SPECIAL ED_old · July 10, 2007 at 5:49 AM

Pictures would be a big help.

b9folk_old · July 10, 2007 at 7:03 AM

1965 K fastbacks are worth exactly $2999, because $3000 and up requires sales tax to be paid in MN. (That is what I paid for mine in 1989, and it hadn't been licensed since 1979.) <img src=images/icon_smile_big.gif border=0 align=middle><img src=images/icon_smile_big.gif border=0 align=middle><img src=images/icon_smile_big.gif border=0 align=middle>

Sorry, I should be more serious, and there are a lot of highly experienced people here who can help you. Time for 2nd cup of coffee.

66transam_old · July 10, 2007 at 12:05 PM

I don't know how much this helps, but this 66 K code fastback just sold for $22k. It might give you something to compare with the car you're looking at?

Edited by - 66transam on 07/10/2007 12:07:13

SixT5HiPo · July 10, 2007 at 9:53 PM

It's hard to believe that project fastback sold for so much with a "mystery motor" that isn't in running condition...

CharlesTurner · July 10, 2007 at 9:57 PM

Quite impressive! Although, we have no way of knowing if the transaction will actually be completed.

round2K_old · July 11, 2007 at 6:37 AM

Particularly high given the money that will have to go into the car to compliment the "survivor" grade parts.

cchesley_old · July 11, 2007 at 7:01 AM

I am a real estate appraiser by trade and have some experience with appraising personal property. I also own 3 K code cars and I am a Gold Card judge for MCA. The way I look at the value of a car like this is to back into it. I look for sales of finished cars (which are much more plentiful than cars that need restoration) and deduct the estimated cost to get them to a finished condition.I guess that the market participants typically do not know what the actual cost of restoration is, because most people pay way more than they should for cars that need restoring. A quality restoration should run $20-$40K depending on how work much the owner does himself. New parts and materials alone can run $15K.

Another problem with valuing unrestored cars is the extent of restoration required. A severly rusted car can cost double what a solid strucute would run. Some unrestored cars are sold with a lot of parts that could be used in the restoration. All of this should be taken into consideration.

As an example: If the finished car is worth $45,000 and the cost of restoration is $25,000, the you should pay no more than $20,000 for the car. The cost of restoration is always more than anticipated.

LuvKcodes_old · July 11, 2007 at 9:47 PM

I agree with your rationale. But I have a friend who restores Mustangs and does virtually all the work himself, all mechanical, body and paint. He sends out what requires specialists to do, as we all would. This cuts his restoration costs to a minimum.

I would roughly estimate this car would require $10,000 in parts but could easily run $15,000 or more to get the right K stuff if it's not on the car in restorable condition. Even if you consider your hundreds of hours of labor to be free, that makes the cost about $32-37K. Considering all the labor it would take, I can't see restoring a car at this cost when you could likely buy a similar restored car for under $40,000.

One thing for sure you're right about, "the cost of restoration is always more than anticipated," often way over budget.

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

I am a real estate appraiser by trade and have some experience with appraising personal property. I also own 3 K code cars and I am a Gold Card judge for MCA. The way I look at the value of a car like this is to back into it. I look for sales of finished cars (which are much more plentiful than cars that need restoration) and deduct the estimated cost to get them to a finished condition.I guess that the market participants typically do not know what the actual cost of restoration is, because most people pay way more than they should for cars that need restoring. A quality restoration should run $20-$40K depending on how work much the owner does himself. New parts and materials alone can run $15K.

Another problem with valuing unrestored cars is the extent of restoration required. A severly rusted car can cost double what a solid strucute would run. Some unrestored cars are sold with a lot of parts that could be used in the restoration. All of this should be taken into consideration.

As an example: If the finished car is worth $45,000 and the cost of restoration is $25,000, the you should pay no more than $20,000 for the car. The cost of restoration is always more than anticipated.

CharlesTurner · July 12, 2007 at 6:05 AM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

I agree with your rationale. But I have a friend who restores Mustangs and does virtually all the work himself, all mechanical, body and paint. He sends out what requires specialists to do, as we all would. This cuts his restoration costs to a minimum.

I would roughly estimate this car would require $10,000 in parts but could easily run $15,000 or more to get the right K stuff if it's not on the car in restorable condition. Even if you consider your hundreds of hours of labor to be free, that makes the cost about $32-37K. Considering all the labor it would take, I can't see restoring a car at this cost when you could likely buy a similar restored car for under $40,000.

One thing for sure you're right about, "the cost of restoration is always more than anticipated," often way over budget.

And let's not forget that this type of restoration would not be to concours level. Add in the cost of NOS or mint original parts and the cost skyrockets!

SixT5HiPo · July 12, 2007 at 10:06 AM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

I agree with your rationale...

I would roughly estimate this car would require $10,000 in parts but could easily run $15,000 or more to get the right K stuff if it's not on the car in restorable condition...that makes the cost about $32-37K. Considering all the labor it would take, I can't see restoring a car at this cost when you could likely buy a similar restored car for under $40,000.

"the cost of restoration is always more than anticipated"

We've seen a lot of nicely restored K fastbacks with correct powertrains sell for under $40,000 that are better deals than this one.

pony65k · July 12, 2007 at 2:53 PM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>We've seen a lot of nicely restored K fastbacks with correct powertrains sell for under $40,000 that are better deals than this one.

Are sub $40Kfastbacks that have been restored with all the correct parts still available? Does the GT package put it over this $40K? Where are they?

RP

SPECIAL ED_old · July 12, 2007 at 6:56 PM

I have not seen a clean original restored Hipo for under $40k in quite a while. GT's and original pony interior kars would command a higher price along with desirable color combos that are original.

SixT5HiPo · July 12, 2007 at 8:15 PM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

I have not seen a clean original restored Hipo for under $40k in quite a while. GT's and original pony interior kars would command a higher price along with desirable color combos that are original.

I don't know about that...

Here's one that SOLD for half that amount in May of this year: http://cgi.ebay.com/ebaymotors/ws/…em=150119463246

This one was really nice, and SOLD for just under $32,000.00 in April of this year: http://cgi.ebay.com/ebaymotors/ws/…em=140103777698

SPECIAL ED_old · July 13, 2007 at 7:07 AM

These look like nice solid kars but they both need work to be in what I would consider to be in original restored show condition. That being said, I think the buyers got a good deal for the price.

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

I have not seen a clean original restored Hipo for under $40k in quite a while. GT's and original pony interior kars would command a higher price along with desirable color combos that are original.

I don't know about that...

Here's one that SOLD for half that amount in May of this year: http://cgi.ebay.com/ebaymotors/ws/…em=150119463246

This one was really nice, and SOLD for just under $32,000.00 in April of this year: http://cgi.ebay.com/ebaymotors/ws/…em=140103777698

[/quote]

SixT5HiPo · July 13, 2007 at 7:41 AM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>These look like nice solid kars but they both need work to be in what I would consider to be in original restored show condition. That being said, I think the buyers got a good deal for the price.

Absolutely!

boss1_old · July 17, 2007 at 9:40 AM

The pic link did not work for me.

You cannot evaluate the value rationally based on restoration cost. If we did that nothing would get restored. It costs the same to restore a T code as it does a K code for 95% of the work.

People like undiscovered, unmolested projects. And they pay for them if they have good owner history and documents.

Any complete K code fastback that is not a rust bucket with the proper components will be worth $15,000-$23,000.

Lots of people have money for a project car. Plus they get to do it their way. that is why you scratch your head sometimes at the prices paid.

Finished car, especially those that were restored serveral years ago are COMING DOWN in value. The market is weak.

This comes from buying and selling classics everyday all day. Not from arms length observation of eBay.

cjc6566 · July 17, 2007 at 10:46 AM

Thanks for all the comments. I offered 21,500k but seller insists the kar is worth 25k to 30k, not sure 25k would get the kar. In the end, I will keep looking for a more finished car. I would rather pay 35-45k for a more complete kar, as time to do the heavy repairs is something I don’t have at the moment.

SixT5HiPo · July 17, 2007 at 8:41 PM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

I offered 21,500k but seller insists the kar is worth 25k to 30k, not sure 25k would get the kar. In the end, I will keep looking for a more finished car. I would rather pay 35-45k for a more complete kar, as time to do the heavy repairs is something I don’t have at the moment.

Smart thinking. <img src=images/icon_smile_approve.gif border=0 align=middle>

rockabilly_old · July 18, 2007 at 8:20 PM

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>

Thanks for all the comments. I offered 21,500k but seller insists the kar is worth 25k to 30k, not sure 25k would get the kar. In the end, I will keep looking for a more finished car. I would rather pay 35-45k for a more complete kar, as time to do the heavy repairs is something I don’t have at the moment.

Hi,

I am near you in Vancouver. I have two restored GT K Fastbacks that I am selling because I am moving. You are welcome to come over and take a look before I put them out on the market.

Participate now!