Current values for 1969

[dk fuelish]

Hello, My name is Dave and this is my first real post. I am considering the purchase of a 1969 (first choice) or 1970 Mach 1. Would some of you owners and others more informed than I am, give me some realistic prices for a 1969. Not asking prices, but a real right now sale would be. This would be for a #2 approx. restored, driveable, m-code. Asking prices are all over the place. If some one actually wants to sell their car the numbers are usually quite different. I don't want to insult a seller. I just want to be an informed buyer. Thank you.

[JTS71 Mach1]

To be perfectly honest the prices these things are selling for are way out of proportion with what something is actually worth. I see people giving thousands of dollars for cars that 30 years ago, I wouldn't have give a hundred bucks for. Rusted out hulks! Needs everything! I know they don't make them anymore but DAMN! (which isn't exactly true,"Dynacorn") I attribute the price gouging to the auctions Barrett Jackson, Mecum, etc. Where Guys with more money then sense, pay ridiculous prices, so far out of reach of the average car guy, that it's become ludicrious, and the "I paid more for mine then you did", mentality that has caused every one with a Mustang, Camaro or damn near any old car in the back yard, just turned from a pile of rust, into solid gold. So that being said a #2 car could cost 15 to 20 thousand, and then you have to depend on the skill and abilities of the builder, as to wether or not you got your money's worth. As you can hide a multitude of sins, with a high dollar paint job. Because all you see initially is the gorgeous paint. 3 days later you start to see all the other stuff. All I can say is good luck as 69 & 70 Mach1's are just about the hardest ones to find to begin with. Just my thoughts JTS 71 Mach1

[Steven Harris]

I think Jack (above) has given you a realistic ball park.

There are a couple of current threads dealing with cars currently for sale in the NE. The guys subscribed to the thread have 69/70 interests and know what it happening at this point in history.

No doubt but they will jump on and give you the finer points to the current trend.

[1969_Mach1]

Dave, one source you can check out for pricing trends is Hagerty insurance. Their website has a valuation tool. It doesn't cover the M-code Mach 1's, but it will give you an idea.

http://www.hagerty.com/valuationtools/HV...?vbe=58497

There are many opinion differences on pricing. I think some of it depends on how many Mach 1's are in your part of the country. For some reason, there are very few in my area, Northern California. So I tend to have a higher value of these cars than some others. I think another big factor that has driven up prices is more people with higher incomes are interested in them. So sellers can simple get more money for these cars. There are other factors as well. For example, paying for restoration work can be high. So like most people, I do most of it myself in my garage, but we enjoy it.

Like jts71 Mach1 eluded to, 30 years these cars were priced so most anybody with a job could afford one. For example, in 1980, my older brother paid $3200 for an excellent condition, almost 100% original, very fully optioned, 1969 M-code Mach 1.

Through an unfortunate incident, I inherited my M code 69 Mach 1 when it was at the initial stage of restoration. I did all the work myself (less paint) to save money, plus I enjoy it. If I was to buy one today, because of pricing, I'm sure it would be the typical rusted out car.

Hagerty's valuation tool falls in line with my thinking. Check it out, you may be shocked by the high prices. If you enjoy the hobby, there is also the restoration option to save on the initial cost, its fun, and you'll gain a greater appreciation for the car.

Good Luck and Best Regards,
Mike

[Mustangmike]

Welcome Dave! I am in agreement with the advice all the members have provided. This is the way I look at classic cars....how much money do I want to spend and how much car can buy? Forget about subsidizing what everyone paid too much for. There is a Mustang out there with a seller who wants to sell it! Unless you are buying a Shelby, Boss, R-Code 4 speed drag pack car, you should be able to get yourself into a really nice, turn key, driver quality, cruise night trophy winning Mach 1 for $18 to $25k

As JTS eluded to, for the guys who are supplementing their retirements by selling or flipping rusted, dented and twisted Mustangs just remember the countless hours and money that needs to be invested into these cars that either you were unable to do or could not afford to do!

Okay that was my angry elf...sorry!

[1969_Mach1]

Wow! I was reluctant to throw out any numbers. I was thinking $20K to $25K for a nice driver quality rust free 1969 Mach 1. An M-code a little higher than an H-code but still in that range. Maybe, maybe not trophy winning. Other than that, I can't believe Mustangmike and I are somewhat in agreement on the price range.

If were posting gripes on this topic mine is why do most shops charge like they are building the next spacecraft for NASA? I was a mechanic for 8 years when I was younger so I do all my own work. I enjoy it, plus I cannot afford to pay somebody else to do it. Shop pricing never used to be like it is today. Oh well, that's my big gripe.

Best Regards,
Mike

[rindel]

I bought my 1969 mach1 #s matching engine and trans M code last year for $19k. I was looking for two years and walked away from a lot of almost deals where the seller couldn't match my price. What I noticed was that most owners wanted anywhere from 25k - 35k for an M code. The 25k ones were hard to find so i think i lucked out with the $19k deal. I used craigslist and various craiglist search engines. I even drove 6 hours to look at some. My choices were 1966 - 1970 fastbacks and I wanted it to be original stock as much as possible. Good luck in your search.

[1969_Mach1]

Nice find. At $19K that was a good deal, rindel. Maybe the seller wasn't certain what they had or were motivated to sell the car. The other price ranges you encountered seem to be more typical.

Best Regards,
Mike

[Mustangmike]

Wow! I was reluctant to throw out any numbers. I was thinking $20K to $25K for a nice driver quality rust free 1969 Mach 1. An M-code a little higher than an H-code but still in that range. Maybe, maybe not trophy winning. Other than that, I can't believe Mustangmike and I are somewhat in agreement on the price range.

If were posting gripes on this topic mine is why do most shops charge like they are building the next spacecraft for NASA? I was a mechanic for 8 years when I was younger so I do all my own work. I enjoy it, plus I cannot afford to pay somebody else to do it. Shop pricing never used to be like it is today. Oh well, that's my big gripe.

Best Regards,
Mike

Agreement is good and it sounds like we are similar in a lot of ways! My apologies if I came off too critical on the topic. It's funny, when I go to swap meets there are the same guys, selling the same parts. The problem is they are asking too much money and hey if that's what they want to do that's fine with me. When I completed my project and parted with my extra parts I sold just about everything I brought. Why...because I am sold the parts at prices I thought were fair for their condition.

Listen, I would never have an issue paying a sellers asking price for a nice 100% completed and driving Mustang. After all, the work is DONE so financially you know where you stand! If you ever watch the show Counting Cars, the Count, never over pays for a car he is interested in purchasing for restoration. Actually, I can't believe some of the sellers take his offers and very often these cars are generally in decent shape.

The way I look at it is, you wouldn't want to purchase a house that ends up becoming a money pit so why would you want to do the same for a car.

[dk fuelish]

Thank you all for your replies and input. 19k for a Mach 1, please tell me what part of the country you are shopping in because I'm heading there. Very nice find. I am looking all over the US. I have never done a restoration, maybe capable, but not at this time in my life. That being said I have been looking at finished, driver + cars. Price ranges are from 30K to 55K. I am not saying this is what I can afford or want to pay but jeez. The sweet spot seems to be 35-45K right now. Still higher than I would like. I agree that BJ auctions screws up a lot of peoples perception of value because the rich guys come out to play. Mecum, to me, is somewhat of a working man's auction, but they do have some higher end depending on where and what time of year. I think Spring prices tend to creep up because there is more time to enjoy(in general). Fall prices are more about storage, the wife possibly losing that space in the garage, and others just flipping for a new ride next season. Personally, my goal is 4-6 keeper cars for me and my wife to enjoy, maintain , and eventually pass on.