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At the latest Barrett Jackson auction, the Ford Mustang was front and center. While not all the cars fetched what the owners expected, it provided a rare glimpse at some classic and remodeled Ford Mustangs. The offerings were particularly rare this year and impressed the audience.
Rick Lind put his 1966 Mustang up on the block with high hopes, but walked away with only $30k. He was expecting to get at least $50k, and stated, "I'm a little disappointed, but the market is the market. There's a 1,000 people there. If someone thought it was a bargain, he could raise his hands there. I wanted more, but that's it." Lind had spent $12k over the years on maintenance and refittings for his beloved car.
It is believed that Lind’s car failed to do as well as expected due to the fact that he highly modified it. He used the car for speed races and extensive work had been done to the vehicle. Many purists don’t like to see that in a Ford Mustang and that may be the reason that they largely stayed away from Lind’s car.
A 1971 Mach 1 Mustang listed by Jeff Gregory performed a lot better. He was hoping to get anywhere from $65 to $75k for his vehicle, and ended up right in the middle with $70k. His car was largely original and he managed to save all the original paperwork, manuals and the charm of the vehicle. Even though Gregory was pleased with the final price, he found it hard to part with the car he owned for so long. He stated, "My uncle had one when I was a little kid. It's always been on my mind. I paid 6,000 dollars for it in 1984."
As the auction continues, many people are expecting great things from one particular Mustang. This model was personally modified by Carroll Shelby himself and given as a gift to his son in 1967. As one buyer noted, it is considered to be the Holy Grail among Mustangs. The expected price for this rare find is at least $300k. The current owner purchased it in 1991 for a paltry $24k and is quite delighted at the initial estimates.
The Ford Mustang is one of the most collected cars in the United States. Auction goers typically reserve at least $250k to bid on their dream Mustangs and competition is fierce. Owners who have taken good care of their cars can expect to walk away with around $100k, depending on their condition.
As one fan put it, buying a Mustang is better than buying gold. Bill Withers, a Canadian fan stated, "Most people that wanted one, couldn't afford them, but today, baby boomers are retiring and they've got the money to buy." Rick Nash, who is listing his very rare Shelby GT350 agrees. His car is estimated to go for around $100k. He said, "I guess you could say I'm a purist. I love them just as they left the factory."
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