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True value of my Mustang


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Can anyone give me any ideas where or how to come up with the true value of my Mustang in its current condition? It is still shy of being completed. Needs transmission, exhaust, convertible top and minor trim items. I have a whole lot more invested than what it's worth, but I need to get an accurate appraised value of it in its current state. Any input would be greatly appreciated!

 

Travis

image.thumb.jpeg.2f0eb04eb8716adc640bd1515c55f488.jpeg

- Travis

 

 

 

I'm an analog man in a digital world.

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Well based on the one pic and your description of needs I'd say it's worth close to 20 grand and with a little work it could be worth over 30 grand. I love love love the color and pretty much everything else about your car. The only thing I wish about it was that it was mine.

Going fast is fun but life is short so slow down and enjoy the ride :D Frank

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Well based on the one pic and your description of needs I'd say it's worth close to 20 grand and with a little work it could be worth over 30 grand. I love love love the color and pretty much everything else about your car. The only thing I wish about it was that it was mine.

 

Same here with regard to the color and the fact that car should be parked in my garage!

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True market value today is LOW. It is a buyer's market. The actual value for insurance valuation should be what it would cost to replace - even as the market improves. I'd insure your car for no less than $25k USD. And when it is finished, I'd bump that up.

 

Ray

1971 Boss 351  

1972 Q code 4 speed convertible 

1971 Mustang Sportsroof  351-2V FMX 

1971 Hardtop (parts car)

1973 Mach 1 (parts car)

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I do like those silver stripes. Are they decals or painted ?

73 ragtop, 1999 Mustang Bright Atlantic Blue Paint, Phoenix Engine 302-335HP,  Edelbrock Carb & Performer manifold; c4 with 2000 stall and shiftkit; 3:55 auburn limited slip differential, Hedman shorties; Car Chemistry Exhaust

 

Classic Air; Tilt Steering Wheel; 1999 Chrysler Sebring bucket Seats ; power windows;

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In all actuality your car or anybody's car is only worth what someone is willing to pay. Like Ray said it's a buyers market but based on the one pic I'd and thinking the rest of the car looks this good or close to it. I'd want to insure it at over 20,000 and not a penny less. It's a very nice looking car and you should be very proud to own it. I would be.

Going fast is fun but life is short so slow down and enjoy the ride :D Frank

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I can give you one example of an insurance buy. I purchased a crashed 1972 vert, 351 H code 3 speed manual, one owner, well optioned,new top, excellent interior, new valve job, new stainless exhaust with ceramic coated headers, new tires. There was not a scratch on the car and was a desirable Gold Glow color. It was totaled and the owner got $16,500 and they gave him the car that he sold to me for $1,500 so his car value was $18,000. If he had stated value say $35,000 they would have paid that but he did not.

If you go to eBay and search and check the sold box you will see what they have recently sold for. As Ray stated I watched the Mecum auction in Florida and all classic cars of any make are way down in price. Boss and Hemi cars were half what they were last year. Cars are like the stock market you might buy a desirable car and before you can restore it the value drop in half.

The market sets the price so set it higher than you expect and go down from there. Offer to sell overseas not an issue for you the seller. The buyer has to load it and ship it all you do is let them pick it up. More money off shore right now.

It is a nice looking car and should get some attention.

David

When a man is in the woods and talks and no women are there is he still wrong??:P

David

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I can give you one example of an insurance buy. I purchased a crashed 1972 vert, 351 H code 3 speed manual, one owner, well optioned,new top, excellent interior, new valve job, new stainless exhaust with ceramic coated headers, new tires. There was not a scratch on the car and was a desirable Gold Glow color. It was totaled and the owner got $16,500 and they gave him the car that he sold to me for $1,500 so his car value was $18,000. If he had stated value say $35,000 they would have paid that but he did not.

If you go to eBay and search and check the sold box you will see what they have recently sold for. As Ray stated I watched the Mecum auction in Florida and all classic cars of any make are way down in price. Boss and Hemi cars were half what they were last year. Cars are like the stock market you might buy a desirable car and before you can restore it the value drop in half.

The market sets the price so set it higher than you expect and go down from there. Offer to sell overseas not an issue for you the seller. The buyer has to load it and ship it all you do is let them pick it up. More money off shore right now.

It is a nice looking car and should get some attention.

David

 

I have Hagerty and a stated value policy. Are you saying they don;t honor stated values?

- Jim

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I can give you one example of an insurance buy. I purchased a crashed 1972 vert, 351 H code 3 speed manual, one owner, well optioned,new top, excellent interior, new valve job, new stainless exhaust with ceramic coated headers, new tires. There was not a scratch on the car and was a desirable Gold Glow color. It was totaled and the owner got $16,500 and they gave him the car that he sold to me for $1,500 so his car value was $18,000. If he had stated value say $35,000 they would have paid that but he did not.

If you go to eBay and search and check the sold box you will see what they have recently sold for. As Ray stated I watched the Mecum auction in Florida and all classic cars of any make are way down in price. Boss and Hemi cars were half what they were last year. Cars are like the stock market you might buy a desirable car and before you can restore it the value drop in half.

The market sets the price so set it higher than you expect and go down from there. Offer to sell overseas not an issue for you the seller. The buyer has to load it and ship it all you do is let them pick it up. More money off shore right now.

It is a nice looking car and should get some attention.

David

 

I have Hagerty and a stated value policy. Are you saying they don;t honor stated values?

 

I believe he said that he did not have a stated value so all they gave him was $16,500. I hope that's the case as I have Haggerty too with a stated value.

-john

(jbojo)

351C 4V cc heads, 10.5 : 1 CR, 290 Herbert cam, Flat top forged pistons, forged connecting rods, Atomic efi,

C6 with Gear Vendor overdrive, 3.89 Tru Trac, Hooker Super Comp with 2 1/2" Pypes Exhaust.        

 

Some Mod pictures can be seen at: [button=http://www.7173mustangs.com/forum-garage?filterxt_uid=2026]Bojo's Garage[/button]

 

 

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I can give you one example of an insurance buy. I purchased a crashed 1972 vert, 351 H code 3 speed manual, one owner, well optioned,new top, excellent interior, new valve job, new stainless exhaust with ceramic coated headers, new tires. There was not a scratch on the car and was a desirable Gold Glow color. It was totaled and the owner got $16,500 and they gave him the car that he sold to me for $1,500 so his car value was $18,000. If he had stated value say $35,000 they would have paid that but he did not.

If you go to eBay and search and check the sold box you will see what they have recently sold for. As Ray stated I watched the Mecum auction in Florida and all classic cars of any make are way down in price. Boss and Hemi cars were half what they were last year. Cars are like the stock market you might buy a desirable car and before you can restore it the value drop in half.

The market sets the price so set it higher than you expect and go down from there. Offer to sell overseas not an issue for you the seller. The buyer has to load it and ship it all you do is let them pick it up. More money off shore right now.

It is a nice looking car and should get some attention.

David

 

I have Hagerty and a stated value policy. Are you saying they don;t honor stated values?

 

I believe he said that he did not have a stated value so all they gave him was $16,500. I hope that's the case as I have Haggerty too with a stated value.

 

John

I just called them. They say I have "agreed upon value". You have to watch out for stated value from what I read.

 

https://www.hagerty.com/articles-videos/ask-hagerty/whats-the-difference-between-agreed-value-and-stated-value-coverage

- Jim

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I have Hagerty and a stated value policy. Are you saying they don;t honor stated values?

 

I believe he said that he did not have a stated value so all they gave him was $16,500. I hope that's the case as I have Haggerty too with a stated value.

 

John

I just called them. They say I have "agreed upon value". You have to watch out for stated value from what I read.

 

https://www.hagerty.com/articles-videos/ask-hagerty/whats-the-difference-between-agreed-value-and-stated-value-coverage

 

Thx Jim,

I just called them and I have the guaranteed value in my policy. Thx for letting me know.

-john

(jbojo)

351C 4V cc heads, 10.5 : 1 CR, 290 Herbert cam, Flat top forged pistons, forged connecting rods, Atomic efi,

C6 with Gear Vendor overdrive, 3.89 Tru Trac, Hooker Super Comp with 2 1/2" Pypes Exhaust.        

 

Some Mod pictures can be seen at: [button=http://www.7173mustangs.com/forum-garage?filterxt_uid=2026]Bojo's Garage[/button]

 

 

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I believe he said that he did not have a stated value so all they gave him was $16,500. I hope that's the case as I have Haggerty too with a stated value.

 

John

I just called them. They say I have "agreed upon value". You have to watch out for stated value from what I read.

 

https://www.hagerty.com/articles-videos/ask-hagerty/whats-the-difference-between-agreed-value-and-stated-value-coverage

 

Thx Jim,

I just called them and I have the guaranteed value in my policy. Thx for letting me know.

 

LOL,

Spooked you too!

- Jim

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Didn't mean to spook you, lol. He had his value at $16,500 so that is all he got he had just reduced from $31,000 so a big loss.

I think Allstate uses the term stated value.

David

When a man is in the woods and talks and no women are there is he still wrong??:P

David

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I can give you one example of an insurance buy. I purchased a crashed 1972 vert, 351 H code 3 speed manual, one owner, well optioned,new top, excellent interior, new valve job, new stainless exhaust with ceramic coated headers, new tires. There was not a scratch on the car and was a desirable Gold Glow color. It was totaled and the owner got $16,500 and they gave him the car that he sold to me for $1,500 so his car value was $18,000. If he had stated value say $35,000 they would have paid that but he did not.

If you go to eBay and search and check the sold box you will see what they have recently sold for. As Ray stated I watched the Mecum auction in Florida and all classic cars of any make are way down in price. Boss and Hemi cars were half what they were last year. Cars are like the stock market you might buy a desirable car and before you can restore it the value drop in half.

The market sets the price so set it higher than you expect and go down from there. Offer to sell overseas not an issue for you the seller. The buyer has to load it and ship it all you do is let them pick it up. More money off shore right now.

It is a nice looking car and should get some attention.

David

 

The market may be down in classic cars but here is one I saw go for sale at the latest Barrett Jackson auction.

 

http://www.barrett-jackson.com/Archive/Event/Item/1971-FORD-MUSTANG-MACH-1-FASTBACK-187153

 

M code engine, No rear spoiler, no ram air, no period correct tires, no deluxe interior although it does have a 4 speed if that adds value.

 

I have all the same paperwork on mine as this one does, Marti, original bill of sale, factory invoice, titles since new and same options and I didnt pay as much as this sold for.

 

Good to see that our cars are keeping value or increasing!

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Mine is insured through a Local RI company for guaranteed value of $19,500 the insurance company will not insure it for any more without having the car appraised, now if I had a 351 he could insure it for $26,000.

 

hagarty has a Valuation tool.

https://www.hagerty.com/apps/valuationtools/search

 

here is the results on my car

Current Values

1972 Ford Mustang 2dr Convertible Base, 8-cyl. 302cid/141hp 2bbl

 

#1 Concours

$34,900

Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."

 

 

#2 Excellent

$23,600

Condition #2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is "excellent."

 

#3 Good

$14,400

Condition #3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. "Good" is the one word description of a #3 vehicle.

 

 

#4 Fair

$9,800

Condition #4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.

Iyman

1972 Mustang Convertable :run_horse:  [button=http://www.7173mustangs.com/forum-garage?filterxt_uid=1507]Visit My Garage[/button]

Visit the Mustang Car Club of New England Facebook Page [button=https://www.facebook.com/MUSTANGCCNE]MCCNE FB Page[/button]

 

Visit the Mustang Car Club of New England Web Page [button=http://www.mccne.com/]MCCNE Web Page[/button]

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I have a restored 72 Q Code Mach 1 insured thru Haggerty for a guaranteed value of 30,000. Its a solid #2 car. They just needed some pics of it, no inspection.

John - 72 Q Code

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I have a restored 72 Q Code Mach 1 insured thru Haggerty for a guaranteed value of 30,000. Its a solid #2 car. They just needed some pics of it, no inspection.

 

Was wondering if Guaranteed value is the same as 'Agreed On' value? From above posts, it looks like it is.

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Guest Pastel Blue

I can give you one example of an insurance buy. I purchased a crashed 1972 vert, 351 H code 3 speed manual, one owner, well optioned,new top, excellent interior, new valve job, new stainless exhaust with ceramic coated headers, new tires. There was not a scratch on the car and was a desirable Gold Glow color. It was totaled and the owner got $16,500 and they gave him the car that he sold to me for $1,500 so his car value was $18,000. If he had stated value say $35,000 they would have paid that but he did not.

If you go to eBay and search and check the sold box you will see what they have recently sold for. As Ray stated I watched the Mecum auction in Florida and all classic cars of any make are way down in price. Boss and Hemi cars were half what they were last year. Cars are like the stock market you might buy a desirable car and before you can restore it the value drop in half.

The market sets the price so set it higher than you expect and go down from there. Offer to sell overseas not an issue for you the seller. The buyer has to load it and ship it all you do is let them pick it up. More money off shore right now.

It is a nice looking car and should get some attention.

David

 

The market may be down in classic cars but here is one I saw go for sale at the latest Barrett Jackson auction.

 

http://www.barrett-jackson.com/Archive/Event/Item/1971-FORD-MUSTANG-MACH-1-FASTBACK-187153

 

M code engine, No rear spoiler, no ram air, no period correct tires, no deluxe interior although it does have a 4 speed if that adds value.

 

I have all the same paperwork on mine as this one does, Marti, original bill of sale, factory invoice, titles since new and same options and I didnt pay as much as this sold for.

 

Good to see that our cars are keeping value or increasing!

 

Wow..., the colour is rare and the 4 spd is a +

 

I saw this car and without appearing overly critical, if you look at the engine compartment I think you will form your own opinions... If I recall, that car had pot riveted the door upper window felts back in place instead of the original staples... Picky yes, but at this price I would expect the overall finishes to be at a much higher level. IMO not well bought for the $$ paid. Gotta love Barrett Jackson. The seller did well on this sale. Congrats.

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I have a restored 72 Q Code Mach 1 insured thru Haggerty for a guaranteed value of 30,000. Its a solid #2 car. They just needed some pics of it, no inspection.

 

Was wondering if Guaranteed value is the same as 'Agreed On' value? From above posts, it looks like it is.

yes

John - 72 Q Code

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Ok...I'm not hawking the fact that I have recently completed my cert in Auto Appraisals, but I recommend a certified appraisal. Not the deal that Haggerty has or a blue book quote but an car specific appraisal.

Thanks

 

Tim

Tucson, Az

1973 SportsRoof

351C bored .040

Crank .020  and Stock cam

Flattop pistons

Edelbrock 4bbl CARB 800 CFM ELEC CHOKE

Edelbrock Performer 2750 Intake Manifold

 

NewPrimedHood_zpsw2jaj0cu.jpg

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