True value of a clean 66 coupe with factory 289 4V engine in todays market? - Mustang Evolution

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Old 08-20-2013, 11:02 PM   #1
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True value of a clean 66 coupe with factory 289 4V engine in todays market?

I'm kicking around the idea of buying a 66 coupe to fix up and eventually sell for profit. I'm asking the group what they feel the true value of a 66 coupe is, not what Haggerty or KBB say, but what you can realistically get for it. I'm thinking either fix it up to a very nice daily driver status or go all in and full restore. It's a 66 coupe with a 289 4V carb and an automatic transmission. It's currently light blue in need of paint and bodywork. From my preliminary check out it needs patch panels in the rear quarters, both sides. The trunk and floor pan is solid. It runs. Interior is pretty good. Needs a dash pad, carpet, possible new covers on front seats there are some small tears. Headliner is vgc. The build plate says it started life as a 289 4V (good), a 3 speed manual( not so good ) Emberglo Metallic paint like a copper color (they say rare), standard vinyl interior. Was made in Metuechen NJ April 23 1966. A good omen, my daughter was born 4/23/85. It's badged as a GT, I don't think it is or was. it has rally type original wheels, new tires, new brakes, new Holley Carb, new dual exhaust that come out through the rear valance. Odometer says 85K. Could be 85, 185, 285? HAGGERTY says a condition 4: $8000. 3: 16,000, 2: $22,000, and 1: $28,000. They all seem high. I can buy it for probably $2100. I'd be willing to dump $8-10k in it if I could double my money. But is that realistic. It's not a convertible or fastback, or a K code engine. So in the end will it only be a $10-14K car in the next 3 years or so? My experience with early Mustangs was back in the 70's when I never paid more than $900 for one. Some as low as $250 that were sweet. But it's now 40 years later. Please give me your honest opinions from experience. Thanks, Dave & Laurie.
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Old 08-21-2013, 12:34 AM   #2
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I'm kicking around the idea of buying a 66 coupe to fix up and eventually sell for profit. I'm asking the group what they feel the true value of a 66 coupe is, not what Haggerty or KBB say, but what you can realistically get for it. I'm thinking either fix it up to a very nice daily driver status or go all in and full restore. It's a 66 coupe with a 289 4V carb and an automatic transmission. It's currently light blue in need of paint and bodywork. From my preliminary check out it needs patch panels in the rear quarters, both sides. The trunk and floor pan is solid. It runs. Interior is pretty good. Needs a dash pad, carpet, possible new covers on front seats there are some small tears. Headliner is vgc. The build plate says it started life as a 289 4V (good), a 3 speed manual( not so good ) Emberglo Metallic paint like a copper color (they say rare), standard vinyl interior. Was made in Metuechen NJ April 23 1966. A good omen, my daughter was born 4/23/85. It's badged as a GT, I don't think it is or was. it has rally type original wheels, new tires, new brakes, new Holley Carb, new dual exhaust that come out through the rear valance. Odometer says 85K. Could be 85, 185, 285? HAGGERTY says a condition 4: $8000. 3: 16,000, 2: $22,000, and 1: $28,000. They all seem high. I can buy it for probably $2100. I'd be willing to dump $8-10k in it if I could double my money. But is that realistic. It's not a convertible or fastback, or a K code engine. So in the end will it only be a $10-14K car in the next 3 years or so? My experience with early Mustangs was back in the 70's when I never paid more than $900 for one. Some as low as $250 that were sweet. But it's now 40 years later. Please give me your honest opinions from experience. Thanks, Dave & Laurie.
I don't see you doubling your money, even doing all the work yourself. A $24,000 66 coupe would have to be a frame off Resto, with new wiring, interior, rebuilt engine, etc. if you pay 2 and dump in 10 you probably could make a few. It depends on how great it looks. Check Craig's list regularly and see what you can get for 15,000 on a 66 cpe or even eBay, but they tend to be kinda high.
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Old 08-21-2013, 12:41 AM   #3
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Originally Posted by Spiney View Post
I'm kicking around the idea of buying a 66 coupe to fix up and eventually sell for profit. I'm asking the group what they feel the true value of a 66 coupe is, not what Haggerty or KBB say, but what you can realistically get for it. I'm thinking either fix it up to a very nice daily driver status or go all in and full restore. It's a 66 coupe with a 289 4V carb and an automatic transmission. It's currently light blue in need of paint and bodywork. From my preliminary check out it needs patch panels in the rear quarters, both sides. The trunk and floor pan is solid. It runs. Interior is pretty good. Needs a dash pad, carpet, possible new covers on front seats there are some small tears. Headliner is vgc. The build plate says it started life as a 289 4V (good), a 3 speed manual( not so good ) Emberglo Metallic paint like a copper color (they say rare), standard vinyl interior. Was made in Metuechen NJ April 23 1966. A good omen, my daughter was born 4/23/85. It's badged as a GT, I don't think it is or was. it has rally type original wheels, new tires, new brakes, new Holley Carb, new dual exhaust that come out through the rear valance. Odometer says 85K. Could be 85, 185, 285? HAGGERTY says a condition 4: $8000. 3: 16,000, 2: $22,000, and 1: $28,000. They all seem high. I can buy it for probably $2100. I'd be willing to dump $8-10k in it if I could double my money. But is that realistic. It's not a convertible or fastback, or a K code engine. So in the end will it only be a $10-14K car in the next 3 years or so? My experience with early Mustangs was back in the 70's when I never paid more than $900 for one. Some as low as $250 that were sweet. But it's now 40 years later. Please give me your honest opinions from experience. Thanks, Dave & Laurie.
Quarters are a ***** and if you need both done thats going take a lot out of your budget. They have to be straight its one of the biggest body panels on the car and if its all wavy then you wont get crap for your car. I have spent a lot on my car and its still not done well factor in a few mistakes on my part but still cost me a pretty penny to get it to the states its in now. If you really want to double your money you would have to keep it stock for the most part resto mods will cost more than 20k in parts let alone labor. If you really want to make money get a car with a good body that needs mechanical work
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Old 08-21-2013, 12:58 AM   #4
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Originally Posted by Spiney View Post
I'm kicking around the idea of buying a 66 coupe to fix up and eventually sell for profit. I'm asking the group what they feel the true value of a 66 coupe is, not what Haggerty or KBB say, but what you can realistically get for it. I'm thinking either fix it up to a very nice daily driver status or go all in and full restore. It's a 66 coupe with a 289 4V carb and an automatic transmission. It's currently light blue in need of paint and bodywork. From my preliminary check out it needs patch panels in the rear quarters, both sides. The trunk and floor pan is solid. It runs. Interior is pretty good. Needs a dash pad, carpet, possible new covers on front seats there are some small tears. Headliner is vgc. The build plate says it started life as a 289 4V (good), a 3 speed manual( not so good ) Emberglo Metallic paint like a copper color (they say rare), standard vinyl interior. Was made in Metuechen NJ April 23 1966. A good omen, my daughter was born 4/23/85. It's badged as a GT, I don't think it is or was. it has rally type original wheels, new tires, new brakes, new Holley Carb, new dual exhaust that come out through the rear valance. Odometer says 85K. Could be 85, 185, 285? HAGGERTY says a condition 4: $8000. 3: 16,000, 2: $22,000, and 1: $28,000. They all seem high. I can buy it for probably $2100. I'd be willing to dump $8-10k in it if I could double my money. But is that realistic. It's not a convertible or fastback, or a K code engine. So in the end will it only be a $10-14K car in the next 3 years or so? My experience with early Mustangs was back in the 70's when I never paid more than $900 for one. Some as low as $250 that were sweet. But it's now 40 years later. Please give me your honest opinions from experience. Thanks, Dave & Laurie.
Keep kicking that idea until its out the door. And I paid 1000 bucks for a 70 mach 1 grabber orange couple months ago. No rear end mild rust built 351 Cleveland sitting in it. Sold for 2k next day no title and car had two vins lol. They are out there just keep looking. I know coupes are nice but the most money comes out of investing in a fastback or mach or boss. The only way I would restore a car and look to profit is if the car was a boss or cobra jet but even than parts original for those aren't a dime a dozen lol.
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Old 08-21-2013, 07:56 PM   #5
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I have a 66 GT coup in Emberglow. It started off needing minimal repairs.... Then I decided to do a complete "restomod" restoration. Just about any part is available depending on how you plan to fix it up. But... It can get expensive depending on how much work you can do yourself because paying for labor will cost big $'s. I have a stack of receipts that I plan on totaling up some day. Emberglow is rare but I don't think it raises the value much. BTW I've been running 13.20 seconds at 101 mph in the 1/4 mile. Good luck.
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Old 08-21-2013, 08:55 PM   #6
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Thank you everyone for your replies. DADDYO, how much do you think you have tied up in it, ballpark? And did you do all the work? What condition was the body in when you started? Thanks, Dave

Btw, very nice cat!
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Old 08-22-2013, 09:17 AM   #7
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Hard to say 25k maybe. And yes I did a lot of the work myself over the last several years. Going back to stock would be the least expensive. For me. Motor 4500, 9" rear end 2500, tranny 2000, wiring harness a couple hundred But I built mine for street/strip The body was fine except for the floor pans. It's the little things that add up if you need them. It's been an experience although expensive at times. Still need to save for minor body work, paint, chrome trim, etc. I would really like modern front end to change geometry so it would drive like a new car. Oh yea and air conditioning, stereo, rear tires and on and on...... Like I've said in previous posts. All it takes is time and money.....good luck.
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Old 08-22-2013, 10:21 AM   #8
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Hard to say 25k maybe. And yes I did a lot of the work myself over the last several years. Going back to stock would be the least expensive. For me. Motor 4500, 9" rear end 2500, tranny 2000, wiring harness a couple hundred But I built mine for street/strip The body was fine except for the floor pans. It's the little things that add up if you need them. It's been an experience although expensive at times. Still need to save for minor body work, paint, chrome trim, etc. I would really like modern front end to change geometry so it would drive like a new car. Oh yea and air conditioning, stereo, rear tires and on and on...... Like I've said in previous posts. All it takes is time and money.....good luck.
Have you looked into the shelby drop? My car handles a million times better and it only a couple hundred
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