For Sale Highly Optioned J Code in need of restoration

Another thing to keep in mind is that prices for these cars are rapidly climbing. I'm afraid the days of purchasing good drivers for $15,000 are long gone.

The prices are climbing currently but the market is fickle and many of these "specialty" cars have a very narrow window of peaking out before falling out of favor. One thing that will continue to increase is the cost to restore. You will never properly "restore" a car, that has been neglected to the point of needing rust repair, for 10K. Neglected cars need complete tear downs. A proper restoration would be more like 25K to 35K. You may be able to lipstick up a pig for 10K (which is sadly what the majority of "restored" cars are) but if you want a safe, straight, and clean car you will have to rebuild and or replace just about everything. Typical rust repair, alone, can suck up 5K to 10K easily without any finish work.

Anyone that has been in the hobby for a long time with multiple cars under their belt will agree that rust repair is the most costly repair and should be avoided if possible. Another area where money can be wasted is paying for cosmetics that are not up to your standard or idea for the finished plan. For example paint and trim. If you are repainting and replacing chrome, trim etc on a car that is a 6 or 7 out of 10 you may as well start with a solid car that needs everything but costs less.

Greetings everyone.
After enjoying this site for many months I have just decided to join it as I am very impressed with how intelligent people are in this group, thank you all for that!

At the moment my wife and I own a 2008 Vista Blue GT/CS and, after many Mustangs, (66 K code fastback/70 Boss 302/65 A code fastback/65 C code fastback and a 68 coupe way back when), I am now setting my sites on a 68 GT/CS. First of all "Don" your posting 2 up from this one is about the most intelligent thing that I have heard about classic car restoration in a long time. The cost of restoration will continue to soar, no doubt about it. Add to that the hassle of dealing with restoration shops and all the things that go with it, (delays, cost overruns, poor workmanship, etc).

According to this site, this car, a Seafoam Green low option car has been sitting in a field since at least 2003. It has been modified with sidepipes, and parts from other cars that were not options originally on this vehicle. It has the wrong engine and the wrong rear end in it as well and apparently the 302 in the "shed" is not the numbers matching engine. No matter how nicely your restore this car, it will never have the correct motor, period. IMHO this car is $25,000 away from being decent, add that to the $11,000 or so cost of buying it and you are into it for $35ish. I doubt you'd ever recover your money for a low option 68 GT/CS in Seafoam Green, (J code or not), with the wrong engine. Classic cars prices are on the rise, but they had better be original if you want top $.

Matching numbers is not that important on a small block GT/CS. It certainly has a bearing on K code Hipo, R/Q code CJ, G code Boss and somewhat on S code cars. Even on those specialty forums most will forgive the engine if a date correct replacement is in place over a heavily metal replaced example. A car that has had 1/4's, aprons and floors is a lesser car than a car that has a date correct replacement driveline along the way.

I mostly agree with what your are saying sporty especially when it comes to non-special edition 1968 mustangs. However, since the original GT/CS is a one year only (not including the recent offering) I consider it to be rare enough to where examples, that are able to be restored to original, should be done so to matching numbers and original colors (these are the cars that will hold best and highest value). I have no problem with reversible upgrades (crate motor, disc brakes, trans, etc.) but if you have the original numbers matching components I would advise owners to not get rid of them and make them available for future restorers to allow for a factory original restore of these rare (and becoming rarer) cars.

I disagree about cars having replacement sheet metal being lesser cars. If the metal work is done right it would be invisible to even a concours judge (many concours cars have replaced metal and in some cases entire bodies).

You make a very good point sportyworty and, as I said, I must commend you and the other folks on the GT/CS folks on your knowledge of the hobby....its very high. I would be very surprised to see this car, (Seafoam Green), GT/CS go for much more than 10K given the fact the hood and probably both rear 1/4s need substantial work if not complete replacement. I still am of the opinion that matching numbers are important, (especially the engine), if you are envisioning a high end restoration. In my experience the first thing people ask you when they see a car like this is..."is it numbers matching" only the more higher functioning people seem to care about sheet metal, as they should.

Exactly right Don.

I have to go with Sportyworty on this one. Certainly a rust free GT/CS with VIN # stamped engine and tranny are what we all want. But given the choice between a car that may be only a dash tag riveted onto a doner decent body and a complete sheet metal original GT/CS with a period cast number correct 302, 289, and C4, I would take the latter. A complete car that has not been diced apart and fixed is worth a lot more in my mind.

This is no diss on people like Marty that have taken pretty rusty cars and brought them back to life. But he is an expert restorer when compared to other restorers. I strove to replace a quarter on my car with an original piece with a close date code in the sheet metal to the rest of the car. This does not happen with repop parts.

As Sporty said a K code HIPO car, or an R or Q or S code car, a correct (not necessarily VIN # stamped) engine is a must. Certainly we all want a rust free original with VIN # engines and trannys. But reality must step in with basic 289's or 302's. Rust repair is so expensive!! Finding an engine is way cheaper! But as we all know getting harder each day.

Rob

I agree with most of what is being discussed here.

While it is nice to have a VIN stamped engine and transmission, it is hardly a deal breaker. At my company we sell quite a few date coded blocks and cylinder heads. The most often requested engine component are 1968 302 engine blocks. Followed by 302-4V cylinder heads, especially smog heads when we have them. I suspect that there are folks that can stamp VIN numbers on used engines, after machining down the flat spot where the VIN gets stamped.

I would hesitate buying a previous rust bucket car. Most shops and owners are not capable or interested, in putting in the effort to properly replace structural panels.

Some 1968 Mustangs are so rare that you buy them no matter how rusty they are. 1968 CJ convertibles, 135 drag cars, CJ HCS, or CJ GT/CS. A 1968 GT/CS with 289-2V is not so rare a car that you should need to buy one with rust issues. There are rust free ones available. My opinion is that if your budget only allows you to buy a rusty GT/CS, save your money and buy a better one. If you get the rusty car for free, you will likely have more money in the car than it is worth just from body work (if it's a 289). I always buy based on condition. Original paint and rust free trump non-matching number drivetrain in my opinion.

Scott

What the Seafoam Green, Yakima GT/CS worth?

I am just wondering, for example, what the forum thinks this Seafoam GT/CS is worth? I am thinking 7ish...please tell me what you think. Really trying to get a handle on the value of these cars. Thanks.

1968Kanada said:

I am just wondering, for example, what the forum thinks this Seafoam GT/CS is worth? I am thinking 7ish...please tell me what you think. Really trying to get a handle on the value of these cars. Thanks.

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I told the owner I thought it was worth $8k, if a bunch of parts were included, and it had a matching number engine, but then I can do most of my own work. I typically spend $20-25k on a restoration, not including purchase price. This one would probably cost me more because of condition. I was flatly turned down.

Steve

Thank you for responding. Personally, I think the owner will kick himself for not taking your 8K, to me thats a very fair offer. The numbers matching 302 is long gone and it has sat out in the elements for 20 years until they got tired of looking at it. I don't know what to say about the factory color, Seafoam Green, it is not on the top of my list. I also hate cars that have had a bunch of things added to them that they did not with come from the factory. Usually none of the "owner added options" work properly. I could see someone buying this who did not care about originality but even then it seems like there is an awful lot of work to be done on this car. Too bad it sat out so long.

$5K would be my max valuation for the overall condition of this car. Even doing the majority of the resurrection, you'd be behind the cost/value power curve. Lotsa labor, parts, and cost in this project. JMHO.

Neil

franklinair said:

$5K would be my max valuation for the overall condition of this car. Even doing the majority of the resurrection, you'd be behind the cost/value power curve. Lotsa labor, parts, and cost in this project. JMHO.

Neil

Click to expand...

I completely agree Neil.

Scott

New ad:

http://portland.craigslist.org/wsc/cto/5054066321.html

68 Mustang GT/CS California Special J CODE-4SPEED.Car is in need of complete restoration but has very little rust(couple of small areas by left rear wheel and small areas by shock towers). Needs paint and interior redone and 302 engine rebuilt. Tons of factory options. (Options did not originally come with the car but were added at a later date). PS, PDB, tilt-away steering wheel, upper and lower consoles, rear window defogger, deluxe interior(interior is shot), factor tach, radio/8 track tape player and convenience group. The car has been sitting for quite some time, but is drivable, but not considered a daily driver. Could be a daily driver with minimal work. The 302 4v engine is not in the car(not #s matching)(was getting worn out so pulled engine to prevent any major damage). Car has a 289 2v rebuilt engine in it now that runs good with approx. 30K on rebuild. Comes with both engines. 4 speed transmission with 11" boss clutch and 9 inch open rear end with lower gears(rear end is not the original one). Have Marti report. Also have lots of extra parts. Will sell car and extra parts as package deal, but can not sell extra parts before car, so don't ask. $11,000 for car or $ 13,000 for all. Most of the extra parts are originals!! This would be a great project car for the right person.

I suspect with Oregon's legalization of recreational pot we will see more and more pipe dream deals from those parts :wink:

When I was 17 I found a POC GT/CS in the back of a used car lot, and over the next couple years I used it as my daily driver and fixed what I could when I had a little extra money.

That scenario is what I envision for this car. As far as I know it's drivable so a kid could buff out the paint and slowly start replacing interior pieces.
IMHO it doesn't need to be 100% restored to be someone's pride and joy.