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Author
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Topic: Mustang Appraisals
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davidm
Journeyman Posts: 3
From: Chesapeake, VA
Registered: Dec 2002
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posted 01-01-2003 10:34 PM
  
I'm curious to know what the average restored Mustang appraises for. I just got a few of my Mustangs appraised today and learned that my 1966 convertible 6-cyl. is worth 4.5K more than a 1966 GT hardtop 289 4V. The GT can be seen below. The only thing sited bad was a few picks on the top of the rear light bezel and some grinding marks on the front bumper. No rust or anything... just silly cosmetic things that can easily be replaced... I was surprised that my convertible is worth more than my GT... It doesn't seem right... and I personally feel the GT is the nicer car all the way around between all my cars... Wierd.
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V8 Thumper
Gearhead Posts: 2830
From: Orange, Ca. United States of America
Registered: Dec 2001
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posted 01-01-2003 10:58 PM
'Market value', 'supply & demand', 'high/low Blue Book  '... all synonyms for the same thing. It's only worth what someone is willing to pay for it. Insured value is typically the most common reason/motive for an apprasial, that or pricing an exotic. I suppose it also depends on the appraiser and his/her tastes. I too think a GT has at least equal value to a 6 cyl vert, but that's just my opinion. I doubt many will be willing to advertise their car's worth on the internet, unless of course it's for sale.
Region also plays into the 'demand'... verts are of course popular in warm climates  Oh hey... welcome to M&M!  ------------------
1965 GT coupe, 333ci aluminum headed/solid cammed stroker, four speed, 3.70:1 9" All Blue Oval, no blue bottle
http://mustangsandmore.50megs.com/V8Thumper.html [This message has been edited by V8 Thumper (edited 01-01-2003).]
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johnmustang
Gearhead Posts: 3244
From: Vancouver Island , British Columbia , Canada
Registered: Nov 2001
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posted 01-02-2003 12:57 AM
Welcome to M&M, the best mustang site on the net. You will get alot of great advice here from some very knowledgeable people, and we also look forward to getting input from you.How about posting pictures of your mustangs, so we can get a look at them, as Todd said supply & demand and so on. Converts are very much sought after at this time, especially the early ones, but, ultimately it is who wants it and how bad they want it that will determine the final price that is offered to you. Any mustang is a good mustang in my books, but I am partial to the fastbacks. JOHN ------------------
65 2+2 FASTBACK
87 TAURUS WAGON
98 F150 XLT TRITON V8 4.6, 4 WHEEL DRIVE
Member:Vancouver Island Mustang Association
M&M #1710
MyPhotoPage
MY TRUCK
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Fastback68
Gearhead Posts: 1280
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 01-02-2003 04:53 AM
Just a thought ... maybe your appraiser has a skewed idea of the value of GTs based on selling prices for clones, or maybe he's working with a category 65-68, and the 67-68s are dragging the value down, since in those years the "GT" badge didn't really mean anything much.
Or another thought ... I read an article recently about how six-cylinder Stang values in the US are coming up fast.
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ctastang
Gearhead Posts: 1323
From: Virginia Beach, VA, USA
Registered: May 2000
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posted 01-02-2003 05:53 AM
David, welcome to M&M! Did Jeff Locke do your appraisals? (He lives in Chesapeake.) He appraised my '66 shortly after I got it and the value was right where I expected it. "a few of my Mustangs..." - How many do you have??? Do you belong to a local club? Mustang Club of Tidewater meets tonight at Cavalier Ford at 7:30, Southeastern Virginia Mustang Club meets Tuesday at 7:00 at Beach Ford and Mustang and Ford Club of Virginia meets next Thursday at 7:00 at Kimnach Ford. Come on out! Carole ------------------
66 Coupe, Arcadian Blue with standard blue interior C-code "Miss Stang" alias "Miss Cranky"
99 Coupe, Crystal White, palamino interior, with 35th anniversary badging and stripes, 3.8 liter, daily driver "Anni"
MCA #45106
M&M #501 - got those 501 blues
Vice-president Mustang Club of Tidewater 2001, 2002 & 2003 https://mustangsandmore.com/ubb/ctastang.html
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Jeff
Gearhead Posts: 190
From: Moore, OK USA
Registered: Mar 2001
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posted 01-02-2003 02:56 PM
NADA says: Low (#3) Mid (#2) Hi (#1)
1966 GT 289: $5940 $10,850 $17,425
1966 Vert $8,200 $13,700 $22,300 In my experience, an MCA appraisal would be very close to this give or take a few percentage points based on options and condition. The value of your cars depends on more than just condition, it depends on collectibility. There's more demand for your convertible.
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Fastback68
Gearhead Posts: 1280
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 01-02-2003 03:43 PM
But Jeff, the vert is a 6 cylinder, the GT is a V8. Does NADA make no distinction?
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mustangs68
Moderator Posts: 16507
From: Hampton,Virginia,USA MCA#39406 M&M #12
Registered: May 99
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posted 01-02-2003 10:21 PM
davidm,
welcome to M&M.Was this your Insurance Company that appraised you Mustang for their needs? When ours looked over my 68FB several years ago they set the price at $11,500,no where near what I feel it's worth..let's get real a selling price of $7500 would have been nice back then but to relpace it,this is what they would have given me cash if totalled. sam
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johnmustang
Gearhead Posts: 3244
From: Vancouver Island , British Columbia , Canada
Registered: Nov 2001
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posted 01-02-2003 11:02 PM
quote:
Originally posted by Fastback68:
But Jeff, the vert is a 6 cylinder, the GT is a V8. Does NADA make no distinction?
Believe it or not 6 cylinders are becoming more & more scarce, people are always tearing out the 6 and putting in the 8. There is nothing wrong with that, but , it does make it harder to find original 6`s. I know that there are still a fair number of them out there. There also seems to be a growing number of people actively looking for 6 cylinder stangs, just as an example, I just recently sold my 68 coupe 6 cylinder, totaly restored car for $16,500.00 CDN ( about $10,800.00 U.S.funds ), the right buyer will pay top dollar for what they want. Your vert is worth alot more than my 68 coupe was, don,t let it go cheap if and when you sell it. JOHN ------------------
65 2+2 FASTBACK
87 TAURUS WAGON
98 F150 XLT TRITON V8 4.6, 4 WHEEL DRIVE
Member:Vancouver Island Mustang Association
M&M #1710
MyPhotoPage
MY TRUCK
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Dave Gibson
Moderator Posts: 6749
From: Pensacola, Florida, USA M&M#166 MCA#47921
Registered: Aug 99
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posted 01-03-2003 06:14 AM
David,
Welcome to Mustangsandmore.com. Check out all of the Forums and have fun. Be fore warned that site is very addictive. Also, we have several members in your area. If you get a chance to meet up with any of them, please do so. It will be well worth the time and loads of fun.  For insurance on Classic Cars, it's hard to beat Hagerty's. Especially when the insurance is for stated value. You don't need an appraisal to get covered. Hagerty's will also allow you the option to increase the value every year and the increase is right on with the maket value. Plus you can't beat the price. We are very happy with Hagerty's. Dave & Terri ------------------
Poison Ivy (Dave's)
'65 Fastback Modified 289 4V, C-4, dual exhaust, styled steel wheels, rally pac, A/C
'02 Explorer XLT, Black, 3.73:1 limited slip, class III tow package!
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