What is this 65 GT K code fastback worth?

rickytz7111_old · October 22, 2007 at 4:53 PM

I went to look at a 65 K code GT fastback today. I will try and describe this car to best of my ability. It's a 65 k code GT factory red car with deluxe white interior. The car currently has black pony interior in it that is a little worn. The sheet metal overall is in great shape. It has all original panels like quarters, floors, hood, doors, fenders, trunk drop offs, trunk lid and aprons, even the battery apron is good. They are correctly date coded for the car with no rust at all. The paint is weak on the car and the roof looks like it had a rim and tire on top of it and dented it in and made some eye lashes. The car looks like it has been painted a couple of times. As for the drive train it is all there. I mean it has correct hipo heads, correct vin# stamped block, correct date coded hipo fan, correct hipo motor mounts, correct rebuilt carb from pony carbs., dual point and every thing else you can think of is there. It has a top loader 4 speed and the correct 65 9” rear end. The car is basically all original except for the black deluxe interior which should be white. The car is running and driving but it does over heat. I think this is due to the radiator, thermostat, or water pump. The oil has no evidence of a blown head gasket, cracked head or block. All the chrome would probably need to be reaplced to make this a really nice car. The guy just told me that the radiator is leaking, that should be what is causing the overheating problem. All the interior pieces are there but some will need to be reaplaced due to small pits. What would you guys feel this car would be worth?

Edited by - rickytz7111 on 10/22/2007 17:42:00

Edited by - rickytz7111 on 11/05/2007 09:42:26

Edited by - rickytz7111 on 11/05/2007 09:43:07

dunc289_old · October 22, 2007 at 5:08 PM

This sounds like a good starting point. If the major draw back is paint, you may want to go with it as is for a while. There are paint jobs, and then there are really fine paint jobs. My paint job on my 66' vert is about $10K, and it is not a show job, tho it will be quite nice, original Emberglo metallic. But I know of $15K and up, so the car must warrant the high quality job. Doing just paint when you are almost there for the full resto should be a consideration. This one just may be worth it, tho red is not the most rewarded color IMHO. Price? $30K, give or take. AS Is. <img src=images/icon_smile_big.gif border=0 align=middle>

LuvKcodes_old · October 22, 2007 at 9:02 PM

It's a good car to restore. And you could drive it in the meantime. I'd say if you can get it for $15,000 or less you can't go wrong. Depending on just what it will take for body work, going thru the mechanics and just how much you like this particular car (fastback, color, interior, etc.) it could be worth as much as $20K. The car has some nice things going for it.

rickytz7111_old · October 23, 2007 at 11:12 AM

I would love to get it for 15K. I don't think he is going to budge. He is asking 30K for the car and I offered him 25K for it. The drive train alone is worth over 10K with all the hard to find parts and they are all there no hunting at all. Do you guys feel that 25K would be a good price for this car? Like I said earlier all original sheetmetal with no rust. The body would need just normal body work and paint. The roof would require a little more attention. Thanks

Edited by - rickytz7111 on 10/23/2007 12:05:33

fullburn_old · October 23, 2007 at 11:17 AM

I would say 20-25 I see regular mustang selling for 15-20 all the time

pony65k · October 23, 2007 at 3:32 PM

If you could get it for $25K and you're happy to pay that, then I would go for it. I don't know if the engine needs a rebuild, but factor in the paint/bodywork, the interior if you want to change it back to original. If you end up paying another $25K on top of the initial outlay the car to you owes $50K. If you plan on keeping it the question is, is the car worth that much? I have no doubt that it is. I have seen them at this price that aren't fully complete.

At then end of the day you have to weigh up the fact that this car seems to be complete and I'm sure they don't come around too often. Go from there.

Good luck.

RP

rickytz7111_old · October 24, 2007 at 4:33 AM

Thanks for all the replys. I will give the guy a call today and see if he has thought about my price. Thanks

paul_old · October 24, 2007 at 6:53 AM

Ricky, When you and Patty dance, who leads? Pablo

rickytz7111_old · October 24, 2007 at 6:56 AM

Well i'm bigger so I would have to say that I would.

rickytz7111_old · October 25, 2007 at 12:29 PM

Well I just got off the phone with the guy. He seems pretty firm at 30K. I don't know if I want to pay that much for it. I don't know what to do.

GTKPONY_old · October 25, 2007 at 3:19 PM

In my opinion, $30k is a bit on the high end, but if the car looks right to you (sounds like a good one from your description) then paying a few thousand more than you want will only be a temporary concern. You will long forget about the additional money (as long as it is still within your budget of course) and hopefully have years of enjoyment from a beautiful, rare car that will only appreciate in value. If you can afford it, buy it.

-Michael

pony65k · October 25, 2007 at 3:55 PM

Would he meet you in the middle? $27.5K?

How badly do you want the car? Can you afford the extra? Are you willing to pay the extra? How would you feel if someone else bought the car from under you?

Good luck.

RP

66gtk · October 25, 2007 at 7:34 PM

Go to his house, give him $25K in CASH and tell him your offer expires when you walk out the door.

rickytz7111_old · October 26, 2007 at 4:37 AM

66GT I don't think this guy cares if he has to hold on to it or not. He said that he has already turned down a offer from his friend that always hits him low for 25K. As far as meeting in the middle that was what I was going to do next. I was thinking maybe $26,500 and see what he says. I don't know if I would be upset if the car sells. I just feel 30K is on the high end. I would probably get my money back but I want some room to breathe. Thanks again for all the advice

dunc289_old · October 26, 2007 at 7:50 AM

I missed a nice GT coupe K because I thought a thousand dollars was too much more. When someone else readily went the extra thousand, I realized it wasn't that much more and the cars are harder to find. I was willing to go the thou, and if I had, we both would have been happier. think hard on it.<img src=images/icon_smile_big.gif border=0 align=middle>

gjz30075 · October 26, 2007 at 8:20 AM

Agree with Dunc on the dollar difference. Worth thinking about. I missed getting a '66 Shelby project because I was several thousand below his price and all my Shelby experts said his price was too high at......30K! <img src=images/icon_smile_sad.gif border=0 align=middle> It was only five years ago.

rickytz7111_old · October 26, 2007 at 10:01 AM

I will for sure be giving it some thought. 5K more now could mean 10K more later. I know what you mean by you passing on that shelby.

SixT5HiPo · October 26, 2007 at 10:11 AM

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

I don't know if I would be upset if the car sells. I just feel 30K is on the high end. I would probably get my money back but I want some room to breathe.

Buying a car as an investment can be risky business, and if you are counting on "getting your money back" there is no guarantee either way. We don't know if these cars have "maxed out" now, or will contuinue to go up in value as the years pass. A lot depends on economic factors way beyond our control, but there has been slow and steady growth in values since the first collector car price bubble burst back in the 1980's. Remember, a lot of speculators got burned back then...

The hobby is fun to enjoy on all different levels, but if I had to count on getting my money back, I wouldn't enjoy my car nearly as much. As to the specific car you are looking at, I always recommend making a personal inspection, including a test drive before making an offer.

RalphJr · October 26, 2007 at 10:57 AM

I agree with these guys. Think really hard about it - AND not too long - or you could miss out.

I'm lucky I've had my K since 1979 - EXCEPT the years were really hard on it - even before I owned it.

I am into the car for rust repair, paint, missing parts, new parts, etc etc etc....over $30,000 right now and I haven't rebuilt the engine or tranny - PLUS I already owned the car! Keep in mind this is a full restoration with major rust repair in the floors and rear quarters - and a show quality paint job inside and out.

The car has way too much value to me personally to ever sell it, but if I had to I wouldn't be able to get my money back - at least not unless values continue to go up. I do it for the love of the car and the hobby - my wife thinks I'm crazy - at least until she gets to ride or drive the car - this is my third project but the one closest to my heart since is the very first car I owned as a teenager!

dunc289_old · October 26, 2007 at 3:01 PM

I paid what he is asking for a VERY rusty barn find vert. It will cost between $30 and 60K to do the kar. Will I get my money out? who knows. I just want it finished and in MY hands, if at all poosible. You have something to consider.<img src=images/icon_smile.gif border=0 align=middle>

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