Someone tell me why this M-code brought just under $9K on eBay

Usually the eBay sale prices for these things make sense, but I am having a very hard time trying to wrap my head around this one:

http://www.ebay.com/itm/1971-Ford-Mustang-Mach-I-351-4v-M-code-1-owner-71K-original-mi-fully-loaded-/121223796758?forcerrptr=true&item=121223796758&pt=US_Cars_Trucks&hash=item1c39805816&nma=true&si=3VZ6XG1nhhS8EXqbejhnAEDpESw%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

I'm honestly stumped. What is it about this otherwise-identical-to-any-other-M-code car that makes it worth $8,950 - complete with rotted outer wheelhouses?

-Kurt

Quality rust is hard to find?

It's well optioned, has rare options, and the interior is in decent shape.

It's well optioned, has rare options, and the interior is in decent shape.

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$8.9K for the additional bragging rights of a tilt wheel, rear window defrost, and the convenience lighting group?

Besides the rust, the driver's door has been fiddled with incorrectly, the aprons could be bowed due to the missing braces, and the cowl and floor pans are both huge question marks - to say the least.

It's an over-the-top premium for a car that would otherwise be valued in the $3-5k range on a good day, wouldn't you say? Sure, it looks decent at first glance, but it isn't even a 20 footer.

-Kurt

That's a lot rust for 9 grand. Someone going to spend a lot of money at the body shop and supply house to reslove all those rust issues.

John J

There's a butt for every seat.

There's a butt for every seat.

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Right up to that decisive point when the seat falls through the floorpan. :whistling:

-Kurt

Seemed pretty close to me.

We can wait and see what the feedback is or maybe the buyer will sign up here and give us the details.

Is this additional evidence of mustang $$ temporarily rising due to the 50th Anniversary hype?

I like it, it is where they should be.

Buyer gave feedback so it seems like a done deal

What would a 69 or 70 mach 1 M code bring.

Is this additional evidence of mustang $$ temporarily rising due to the 50th Anniversary hype?

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Nope; there are an equal number of rustbuckets that don't sell for these prices.

-Kurt

Is this additional evidence of mustang $$ temporarily rising due to the 50th Anniversary hype?

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Nope; there are an equal number of rustbuckets that don't sell for these prices.

-Kurt

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I think there is some M code mythology developing. All Boss 351's are basically bought up so "M's" are catching some buzz as the next best thing.

An equally rusty M code, non-ram air, convert sold on E-bay recently for 10K. I followed it because it was purple just like mine.

It then showed up on craigslist less than a week later for 9K and stayed there for a while. Same pictures that were on E-bay

I called on it and he said he was open to offers - I offered 5K and he said if it did not sell he would call me back.

He never called.

so..........

Should I clearly and truthfully describe mine on E-bay and then sell it to the highest (i.e. the most uninformed) bidder and then feel bad about it?

I hate to feel bad but I do not want to leave money on the table.

hmmmm...........

Paul

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I think there is some M code mythology developing. All Boss 351's are basically bought up so "M's" are catching some buzz as the next best thing.

...

Paul

That's exactly what the guy who originally sold me my M code told me as part of his sales pitch. I still wish I would have stuck to my plan of finding a 429 Mach with a top loader.

Jim

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I think there is some M code mythology developing. All Boss 351's are basically bought up so "M's" are catching some buzz as the next best thing.

...

Paul

That's exactly what the guy who originally sold me my M code told me as part of his sales pitch. I still wish I would have stuck to my plan of finding a 429 Mach with a top loader.

Jim

I agree with that!

I looked at several 71-429 Mustangs over the years before they went off the charts. I even passed on a rough 429 convertible because I thought 8K was too high for a car that barely ran.......sniff.....sob......cry.......

Would you believe I put a bid on eBay for a genuine 429 cj for 45k! ( It was in very good condition, no rust anywhere)

The auction didn't meet reserve and was passed in.

Not long after the market crashed and he couldn't sell it for any price.

On his third attempt he would have accepted 40k because l sent him a pm.

Wow - I wish mine would've been in THAT good of shape when I found it. But - I still would be ripping off quarter panels, trunk pan, floor pans (most likely), cowl, and all sorts of other stuff as I've been doing so far.

Maybe mine being such a pile for only $1600 wasn't such a bad deal after all.

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I think there is some M code mythology developing. All Boss 351's are basically bought up so "M's" are catching some buzz as the next best thing.

...

Paul

Click to expand...

That's exactly what the guy who originally sold me my M code told me as part of his sales pitch. I still wish I would have stuck to my plan of finding a 429 Mach with a top loader.

Jim

I agree with that!

I looked at several 71-429 Mustangs over the years before they went off the charts. I even passed on a rough 429 convertible because I thought 8K was too high for a car that barely ran.......sniff.....sob......cry.......

This summer I visited my home town in California and friend of the family found out I had a 71 Mach1 and told me had inherited a 71 Mustang from his Dad who was the original owner and asked if I could look at and give him some advice on the Mustang. He warned me that the car was in bad shape before we went to the garage, it was a wimbledon white 71 Mach1 covered in dust with four flat tires. It was a 429 car with top loader, I couldn't find anything but surface rust from scratches on it. I told him he had rare gem and advised him to keep it, I also told him if he ever wanted to sell it, give me the first chance at it...still waiting on the call.

Jim

While I'm still a bit skeptical, the M-code theory does seem to make the most sense.

Odd though - it isn't as if collectors are grasping at straws trying to find Boss 351 or 429 cars. I can see some scuffle going on over 429SCJ's, but I can't see that same crowd going after what is essentially 4th best. Can't see any of the 429 crowd settling for anything other than a C-code.

As for the 351-seekers - it is not as if R-codes are that difficult to locate if you have the right cash. Being irrational and spending R-code money on M-codes is downright foolish.

What would be even more foolish is if the M-code rationale is based on the theory that it "must be unusual" due to its replacement by the Q-code the same year. If anything, a 1971 Q-code is the thing to dig up, as a measly 145 Q's were built in '71, according to Marti.

-Kurt