71 vert sold for $42K

Check out this 302 2V vert that sold for $42,000. Considering it's been in the UK from new it's bound to have some rust too.

http://www.historics.co.uk/buying/auctions/2014-11-29/cars/1971-ford-mustang-convertible.aspx

And the interior is all wrong! The steering wheel is on the wrong side.

The hood trim is coloured coded, rather than chrome, so it's had a respray at some point. The strips are after market. Also there's a big ugly after market Mustang sign where the clock should be.

Dang... nice car!

Now, in addition to seeing yours, it's got me Jonesin' for a vert of my own. :-/

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And the interior is all wrong! The steering wheel is on the wrong side.

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I agree. That is as strange looking as...

I spotted this car again recently at a car show and I spoke to the owner. He's selling, it's up for sale for $63,000! And he recons he'll get it too. Crazy.

Here are some pics I took of it:

And the interior is all wrong! The steering wheel is on the wrong side.

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No Mike, the steering wheel is on the good side.

your screen setting is set to flip ...

rofl

I spotted this car again recently at a car show and I spoke to the owner. He's selling, it's up for sale for $63,000! And he recons he'll get it too. Crazy.

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It's an awesome car, based on what we've seen - but this guy is part of what's wrong with the automotive enthusiast scene these days.

The problem is all these TV shows dealing with car flipping. I know there's nothing illegal about buying a car, washing it, and selling it for profit - stealerships do it all the time. IMHO, there's just something immoral [on a level] in doing this to such extreme. The guy has pretty much nothing invested in this car beyond what he paid for it, but somehow it's now $21K more valuable because he's sat it, possibly put a few miles on it, and taken it to a car show?! It would be one thing if he'd gotten an incredibly smokin' deal on the car, and decided to sell it for close to its actual value... but unless I'm missing something, I think the car was probably a bit high on the value when we saw it prior to this guy buying it.

The sad thing is: someone will pay and now the "value" of that car is significantly higher - nobody will ever willingly take a loss on such an investment. When word of these kinds of "epic flips" gets around, now suddenly the '71-'73s are the "hot market," and the prices for anything '71-'73 shoot up. While this is great news for the seller (private seller, flipper, stealership, et al), it sucks for the enthusiast looking to buy-in to the '71-'73 scene because the "pay-to-play" number has gone up.

I guess I'm a little sensitive to the whole "flipping" business, because my car was a "flip" to me (the guy saw nothing but $$$, but had no idea what he had). I wanted the car partly because I also had no idea what it was (aside from being a '71 Mach 1)... but I also didn't want to hassle with going out-of-town to get it, so I wasn't going to quibble over a couple hundred bucks (I would've spent that in gas, trailer rental, food, etc., just going to get a different car that I would've paid more for). I also saw the guy try to flip another car I'd actually seen and recognized as a turd to a friend... tried to burn him, too... but I intervened, saved my friend from making a mistake, and pissed off the wanna-be flipper in the process. Word is getting around, and he's not doing so well.

Back on topic: I know as a right-hand drive car, it has more "rarity value," and it IS really nice... but I'm still not sure it's worth $63K - especially not when it was only worth $42K last week. :chin:

The classic car market in the US and UK has gone nuts over the last 4 years and this seller is jumping on the band wagon. For example a few years back you could pick up an early 1970s 911 Targa (the ugly duckling 911) for $12,000, last year a 1973 911 Targa sold for $308,000. Talk about a flip! The market has gone crazy. Low interest rates have meant people are investing in commodities and unfortunately classic cars have become one.

http://www.total911.com/195500-for-a-porsche-911s-targa-at-salon-prive/

That is crazy. I love Porsches - 911s, 928s, 944s, 924s... even the 911 Targas. (Of course, I'd probably toss on a wide-body kit, whale tail, Speedline wheels, and maybe even go slant-nose. )

The only problem with classic cars becoming commodities, is that once the "valuable" units are in the bidding wars (driving the prices up), the prices for the unrestored 'potentially valuable commodities' goes up as well. Once that happens, the "little guy" gets squeezed out and unrestored 'potentially valuable commodities' either never get restored, or enter the market as ridiculously overpriced units. Thus, the classic car enthusiast scene becomes yet another rich-man's hobby.

On the subject of unrestored cars going up in value, check out this rusty heap of $hit. This sold last year for $208,000.

https://www.silverstoneauctions.com/1973-ferrari-dino-barn-find%20



Here's an ad for a Dino from 12 years ago when prices were more sensible, at $60,000.

with world currency collapsing all over, people are looking to invest in something.

classic cars have become on of those investments. Basically instead of buying bonds which is on the verge of collapse people with extra money are going for tangibles like cars.

thus the market in Europe has exploded for classics. In the states what is hot is the really high end cars and nothing else, pretty much the middle of the road cars that were going for like 60-80K in like 2005 have collapsed down to the 20-40k and the really high end stuff has skyrocketed. like a 100K hemicuda is like 200-300K

or that 81 mile hemi that is suppose to get 1 million dollars. basically those cars are not driven they are displayed and don't deprecate any more.

people are hoping for a long term investment return on cars like the ferrari, the same thing is happening with Artwork and books.

what you will see more and more are garbage piles like that ferrari hitting the market, because they are becoming worth restoring and the ultra rich consider them a bargain buy.

Ferrari Dinos are fairly rare, anyway. But yeah - that's a pile.

They're rare now as half of them either rusted away or were rapped around a lamp post.

And people didn't considered the Dino a proper Ferrari, it didn't have a Ferrari badge, it only had a V6 engine and it wasn't very reliable. But everyone's forgotten that now and prices have gone crazy.

Why does Europe have all of our money?

How big of a suitcase did Luxstang leave the states with the last time he was here?

And, IMHO, Ferrari's were pretty junky in the 60's and 70's. I guess that is why they sold 1M 65 Mustangs and maybe 10k Ferraris?