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Is a 73 Mach 1 Resotration Worth It?


Studdley
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I have a 73 Mach 1 that I picked up for 1000 bucks with a title and have begun work on it, though the cost of it is scaring me. The guy who's helping guide the process is telling me that the car will be worth 25k when it's finished and says it's gonna take around 18k to get it there. There has already been a new doghouse welded in along with new floors and some other minor rust stuff. The car is not numbers matching, though the motor is the correct one (302w). It's a 3 speed stick and has the pale yellow color, factory ps pb and ac. It has the deluxe tan interior, though it's going to need some love. Do you all think it's really possible for the car to pull 25k when it's finished? Any thoughts are appreciated.

Gas is for cleaning parts, alcohol is for drinkin, nitro is for racin

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NO...

 

Here is my take and this is just my opinion based on what I have seen over many years with these cars. This car when done is more like a $15,000 depending on how nicely it is done. The fact that it is not original, it has a 302 vs 351, has a 3 speed vs a 4 speed or automatic, has had a fair amount of metal work, brown vs black interior etc leads me to this conclusion. Interested in what others think.

Jeff

1972 Q Code Convertible

 

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I had a Q code/C6 auto '73 Mach 1 that I bought for $1,000 and put another $25K  in to, doing most of the work myself. It was nice when it was done, relatively low mileage, loaded with options like fold down rear seat, air, rear window defogger, tilt wheel, AM/FM stereo, deluxe interior, etc., etc., and had all original sheet metal. It sold for about $23K, finally, to a guy that had one the same color but not a Q code when he was younger. That was about 4 years ago. I think $18K to restore is either optimistic, unrealistic, or you're going to skip over some items. I think $15K value when done is probably close, since it's a 302/3 speed with significant metal work. Unless you're restoring it for the love of the hobby, I'd sell it and buy a completed car and spend the $10K you'll save on a nice '71-73 Mustang coupe.

 

Steve

mach1pic.jpg

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Doing a restore on a 302 in 71-73 is like restoring a 6 cylinder in a 65. No you cannot make a profit and not numbers matching takes 50% away to a collector and nobody collects 302.

Remember the buyers that want these cars are dying off. The next generation cares nothing about them, part of history.

Harsh and blunt but the truth.

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

David

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Thank you all, that's what I was figuring, but I wanted to hear it come out of someone else's mouth.

Gas is for cleaning parts, alcohol is for drinkin, nitro is for racin

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Just curious- is the $18K or a good part of it going to the guy who says it will be worth $25K when completed? lol Really the only models that would support a profit on a full restoration are the '71 Boss 351, or any '71 models with the 429 CJ or 429 SCJ (including Mach 1, convertible, etc.). Possibly the '72 R code, although it is less well-known. And the amount of profit would vary based on the market at the time of sale- seems a bit soft right now. Even the Q code models are possibly a break even or slight loss to the person spending the $$$ for a full restoration. There are of course many factors such as can the owner perform first class welding and metal work himself or is everything farmed out. Also is the drivetrain numbers-matching or not, do the options match the Marti report, and so forth. If none of these factors are met, it is best to just purchase the best quality already-restored or survivor car that you can afford, and let others take the loss. Of course there are people with no intention of selling who would spend a fortune for a restoration on a car with a value they know won't support the cost of restoring it. This can be for sentimental reasons or love of the hobby, things like that. This will probably always be the case with the '71 to '73 models. The '70 and earlier models with desirable body styles and drivetrains will always bring more money. Look at values for a '69 Mach 1 with 428 versus a '71 Mach 1 with 429, and I don't think that price difference will really ever go away.

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It's only a 302 Windsor...NOW that's kind of biased! Aren't we all on here for the love of 71,72 and 73 MUSTANGS, regardless of engine size?   :huh:

71-73 Mustangs never die, they just go faster!

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When your first thought is am i going to make money then your love of the owning the car is questionable. Buy a car because you love that particular car then money wont even be part of the equation. Anyone who loves their hobby gets payback from the shear enjoyment of their hobby

Steve

1971 Grande

 

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It's all about what brings you happiness. If you were a sports fan and purchasing season tickets, paraphernalia, etc you could spent thousands each year to attend events and you will only have the memories.

 

Spend that $$ on the car and you will have memories and an actual ride to enjoy for a long as you wish to keep it.

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For me personally, I would not spend money on a 73 to restore it, but I would make it into a resto mod with 71-2 front end, 429/460 and a 6 speed manual, or not, maybe something else. Non the less ALL 71-73's are worth keeping on the road in some form that pleases the owner.

Without going into too much detail, the car I bought in 2008 was in the 15-16K region and that car was in amazing condition, numbers matching and apart from a surface paint job, was pretty much all original. So then I got to start redoing "stuff". The motor needed a rebuild at 85K miles. So I did the gearbox at the same time, then I put in a 3 core rad and then I decided to strip it and repaint it completely and then I...…….. You get the idea. So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code. Then if I were lucky I might get that 25K. Usually it works out to about 50 cents on the dollar return and that's if you're lucky!!!

Geoff.

Geoff.

 I learn something new every day!

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So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code.

Geoff.

 

I love my 71 Grande. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

 

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

Steve

1971 Grande

 

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So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code.

Geoff.

 

I love my 71 Grandé. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

 

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

 

Steve, so what's stopping you? It's only money!! I know, yeah but!!!

Geoff.

 I learn something new every day!

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So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code.

Geoff.

 

I love my 71 Grandé. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

 

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

 

Steve, so what's stopping you? It's only money!! I know, yeah but!!!

LoL thats whats stopping me...Money. Then theres getting the 2 cars in one place and relying on someone to transfer the bits from the donor car to the shell. Then importing it into the UK. When a car wont start with RORO shipping the dock workers stick the forks from the forklift truck under the back end and lift & push the car off the ship which causes damage to the underside. My old gas tank from my 71 had a pair of dents that matched a forklift trucks forks. If i focus on the 71 it will get finished but if i had 2 cars to work on i may get disheartened by lack of progress

Steve

1971 Grande

 

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[the only models that would support a profit on a full restoration are the '71 Boss 351, or any '71 models with the 429 CJ or 429 SCJ (including Mach 1, convertible, etc.). ]

Even that is questionable. They do not go for the price you saw a decade ago. At 40-50k, they stay for months for sale here in Europe. If you find one for bellow market, just in need of a little "wheeler dealer" massage and have the luxury to be able to sit on your investment and wait long enough, yes. May be.

 

If it's for the hobby as the others said, you will get lots of satisfaction out of it. I know I do and learn tons in the process. Not to mention you get to meet great people and make good friends. That alone is worth a million.

 

For the crystal ball estimated value of 25k. Depends how long it will take before you car is done (and how). Right now, likely no.

There are currently lots offered, I would say even more than before. That's no real surprise.

All 7173 are now at an age where to put lipstick on the rust is no longer an option. It's real restoration time or get rid of it.

Just search this site for titles that include the term "parting"...

 

From what I see and read on this forum. Most restore at their own pace, 5 to 10+ years is very common. If this free claim of 18k figure would be accurate, that's doable per year. In 10 years from now, only the well preserved/restored will be on the market. Likely more expensive.

That is of course expecting a future not too different than today. When it comes to cars & combustion engines, the world is changing fast.

73 modified Grande 351C. (Finally back on the road woohoo!) 

71 429CJ. ( In progress )

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So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby"

 

I'm amazed you can even do this accurate estimate. I honestly could not. I just know its "waaay"! :)

73 modified Grande 351C. (Finally back on the road woohoo!) 

71 429CJ. ( In progress )

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So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby"

 

I'm amazed you can even do this accurate estimate. I honestly could not. I just know its "waaay"! :)

 

I agree...... My 302 Mach 1  didn't have the original motor or trans in it when I bought it. I haven't built mine to resell. Its for me to run the shit outta!  I probably have more in my 408 C Stroker than the car is worth!! lol!!  :shootself:   But who's counting.

When I do get my other garage built, my car is going to get tore completely down and done from ground up.  I am predicting obscene amounts of time, money and labor being put in it...... but I know I will never recoup that. That's ok. My car will stay with me forever.

I am seeing, twin turbos.... 1000 hp street motor  LOL!!

Roll cage.

4 link

6 speed.

coilovers.

AC

ECT ECT...... list goes on and on.

Kevin
1971 Mach 1

408C Stroker - C4 w/3,000 stall - 8.8" Rear w/3.73's - Disc brakes all way around.

 

 

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When your first thought is am i going to make money then your love of the owning the car is questionable. Buy a car because you love that particular car then money won't even be part of the equation. Anyone who loves their hobby gets payback from the shear enjoyment of their hobby

 

That was my goal from the beginning - I wanted my car to fulfill a lifelong dream of having one of my favorite muscle cars... not to simply spend money, do work, and flip a car so someone else can enjoy my efforts.  That being the case, were I into it for the resale value, I would've lost me arse on a much grander scale than the wanna-be flipper that sold it to me (I got mine for almost half his initial asking price).  His $1400 loss on a $3K asking price is a LOT less of an impact than my investment vs. what I could get for it... unless you quantify it as 'proportionally.'  rofl

 

Best price on a pristine '71 H-Code Mach 1 hovers in the $25K range... I'm well over $45K just getting my restomod turned back into an actual car again.  I only kept score for insurance purposes - there's no way I expect to see numbers anywhere close to that, were I to ever accept an offer.

Eric

mach1sig2.gif

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So, mine is the elephant in the room... $100K restoration... could care less what it is worth afterwards, although I know it can bring big $$ at thr right auction. Would I spend this on a '73? No. So, I bought an all original, low mileage H Code 73 vert as my summer driver for $20K... I did my restoration because these are my favorite mustang's... The only other I would own is a B9...

"Yes dear", has kept me in the hobby a long time...

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So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby"

 

I'm amazed you can even do this accurate estimate. I honestly could not. I just know its "waaay"! :)

 

Easy, I have a 2" (50mm) stack of receipts to prove it!

Geoff.

 I learn something new every day!

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My car is an F-code as well. PS, PDB and used to be an auto. Now has a 4 speed & 9" rear. Next step is to finish the rebuild on a 351C and get it to where it should be, performance wise. I put my car on eBay back in '08 just to get a "value". Auction topped out around $15K, which is where I figured it would end up. Today it *might* hit $20k. I look at F code cars as the perfect canvas to make a car your own, and you're not "hurting" the value. That said, if I restore another car I want an M or Q code.

 

Only way to make any money on a restoration is to get the right car in the right condition at the right time and do all the work yourself - or have someone paying you to do the work on their car.

 

A friend of a friend has been a Mustang hoarder for 30+ years. The family owns a construction company and he's been storing shipping containers filled with all manner of high end cars and parts that need restoration. Pretty much anything from 69-73 with Q, R, S, M & J in the VIN. He's getting closer to retirement and was talking to my friend, who owns an autobody shop, about working on his collection. Long story short, he ended up opening his own body shop to do collision work, and his guys work on his cars in between insurance jobs. Smart, really smart.

 

 

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It never ceases to amaze me how a post can get so many responses to one subject.

Thats why the forum will always stand head and shoulders above facebook. All thanks to Rocketfoots creation 7173

Steve

1971 Grande

 

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It never ceases to amaze me how a post can get so many responses to one subject.

Thats why the forum will always stand head and shoulders above facebook. All thanks to Rocketfoots creation 7173

 

Totally agree!! Well said.

Geoff.

 I learn something new every day!

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Bottom line, if you want to make money on restorations open a shop and do them for other people. There are a few exceptions, of course, but most are money pits, as most of us know. I never intended to try to make money, or even break even, just doing what I want.

 

 

“If you can't explain it simply, you don't understand it well enough.”

--Albert Einstein

 

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Where are you located and do you have any pictures of your car? I might be interested in it being its not worth doing anything with according to the replies. It might be time to add another to my house. I agree with what a lot have said but I also know that 70 and below cars are starting to be unobtainable for the average buyer so the next step may be the 7173. I watch a lot of cars being sold that believe it or not are not all original for some big time money so there are always more than one direction for a build to go.

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I love my 71 Grandé. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

 

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

 

Steve, so what's stopping you? It's only money!! I know, yeah but!!!

LoL thats whats stopping me...Money. Then theres getting the 2 cars in one place and relying on someone to transfer the bits from the donor car to the shell. Then importing it into the UK. When a car won't start with RORO shipping the dock workers stick the forks from the forklift truck under the back end and lift & push the car off the ship which causes damage to the underside. My old gas tank from my 71 had a pair of dents that matched a forklift trucks forks. If i focus on the 71 it will get finished but if i had 2 cars to work on i may get disheartened by lack of progress

 

When you ship a non running car you should put it in a container for sure. Then there is also room to ship extra bits and pieces.

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

David

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