StraightSix
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COMMUNITY
1968 GT/CS & HCS
2007+ GT/CS
1966-1967 HCS
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2003 GT/CS Price Guide
- Thread starter StraightSix
- Start date
StraightSix
Well-known member
- Joined
- Aug 20, 2002
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;D Thanks for the compliments and appreciation!
-Winston
-Winston
x-codegtcs
Well-known member
Winston - great job. I just have a question, which may induce lynching by mob, but I have to ask - curiosity demands it!
Last month a guy showed his GT/CS 390-4V on the site. The cursory photos made it appeare to be in GOOD condition at best. Based on the options in the list, this car would have valued at about $12K. I do not remember if it was a GT or not, but for discussion sake I assumed it was. Many said the car was worth $15K or maybe more. I understand the list is VERY limited with the big block info, and I understand the emotion that goes with the purchase, I am just curious as to the descrepancy and any thoughts. I know there is no science in this, just would like to see everyones thoughts. Thanks in advance.
Bryce
Last month a guy showed his GT/CS 390-4V on the site. The cursory photos made it appeare to be in GOOD condition at best. Based on the options in the list, this car would have valued at about $12K. I do not remember if it was a GT or not, but for discussion sake I assumed it was. Many said the car was worth $15K or maybe more. I understand the list is VERY limited with the big block info, and I understand the emotion that goes with the purchase, I am just curious as to the descrepancy and any thoughts. I know there is no science in this, just would like to see everyones thoughts. Thanks in advance.
Bryce
68sunlitgold
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- Aug 20, 2002
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- 1,359
Winston,
I noticed that the "428 R-code" was left off the list, I wish someone with a 428 would see this site and give you/us some info on their cost. Another good source for prices on the R would be just plain R coupe although I realize there where not many of them made. I wonder if Bob Teets could shed some light on this subject since there where more HCS's with "R" than CS's? Just a thought
Doug
PS Outstanding contribution to the site and fellow GT/CS owners and I can say I got an increadible deal on my CS. ;D
I noticed that the "428 R-code" was left off the list, I wish someone with a 428 would see this site and give you/us some info on their cost. Another good source for prices on the R would be just plain R coupe although I realize there where not many of them made. I wonder if Bob Teets could shed some light on this subject since there where more HCS's with "R" than CS's? Just a thought
Doug
PS Outstanding contribution to the site and fellow GT/CS owners and I can say I got an increadible deal on my CS. ;D
Bluestang
Well-known member
Straightsix. As an enthusiastic owner of a big block GT/CS I think you did a good job. In my western Washington area all big block mustangs are hot. I think the southern California market is very hot right now. A group of buyers came through and bought what ever they could get their hands on. My idea of value is influenced by this. I think a good way to value a big block GT/CS is as equal to or above a 67/68 BB fastback.Thanks again for shedding some light on a hard to define area. PS, its as close to owning a shelby as I will ever come. Kimball
StraightSix
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[quote author=x-codegtcs link=board=1;threadid=195;start=0#876 date=1044413165]
Last month a guy showed his GT/CS 390-4V on the site. The cursory photos made it appeare to be in GOOD condition at best. Based on the options in the list, this car would have valued at about $12K. I do not remember if it was a GT or not, but for discussion sake I assumed it was. Many said the car was worth $15K or maybe more. I understand the list is VERY limited with the big block info, and I understand the emotion that goes with the purchase, I am just curious as to the descrepancy and any thoughts. [/quote]
Bryce,
Yes, the $15k valuation given by me was actually based on the car being in "Excellent" condition with a little fat thrown in because of the known history. I used the Excellent category due to the 2nd place finish at Knott's, assuming that the pictures that were posted didn't do the car justice. If the car is in fact in "Good" condition, then you are correct about the price in the guide being around $12k according to the guide. It's hard to tell from the pictures what is wear and tear and what is just dirt and dust from sitting. Either way, the guide may be way off for this car. As you pointed out, data here is almost non-existant.
I believe that my guide is very accurate for 289-302 cars, which made up most of the data. There were a few I6's in several conditions which fit in nicely into the data I already had. The values for the 390's, however, are just my attempt at applying the Mustang Monthly data to the GT/CS. As for the 428 cars (Doug), I think it's really name-your-price.
The purpose of this price guide is to give a reasonably accurate average value for things based on actual transactions so that people can conduct their own transactions in confidence. When there are few transactions, you can use a little estimation to fill in the blanks, but some of the confidence is lost. When there are no transactions, there is no ability to assign value. I don't want this to be one of those guides that dictates price and influences the market, but rather one that "receives" prices and is influenced by the market. I would like the market to be what it will, and for the price guide to follow.
-Winston
Last month a guy showed his GT/CS 390-4V on the site. The cursory photos made it appeare to be in GOOD condition at best. Based on the options in the list, this car would have valued at about $12K. I do not remember if it was a GT or not, but for discussion sake I assumed it was. Many said the car was worth $15K or maybe more. I understand the list is VERY limited with the big block info, and I understand the emotion that goes with the purchase, I am just curious as to the descrepancy and any thoughts. [/quote]
Bryce,
Yes, the $15k valuation given by me was actually based on the car being in "Excellent" condition with a little fat thrown in because of the known history. I used the Excellent category due to the 2nd place finish at Knott's, assuming that the pictures that were posted didn't do the car justice. If the car is in fact in "Good" condition, then you are correct about the price in the guide being around $12k according to the guide. It's hard to tell from the pictures what is wear and tear and what is just dirt and dust from sitting. Either way, the guide may be way off for this car. As you pointed out, data here is almost non-existant.
I believe that my guide is very accurate for 289-302 cars, which made up most of the data. There were a few I6's in several conditions which fit in nicely into the data I already had. The values for the 390's, however, are just my attempt at applying the Mustang Monthly data to the GT/CS. As for the 428 cars (Doug), I think it's really name-your-price.
The purpose of this price guide is to give a reasonably accurate average value for things based on actual transactions so that people can conduct their own transactions in confidence. When there are few transactions, you can use a little estimation to fill in the blanks, but some of the confidence is lost. When there are no transactions, there is no ability to assign value. I don't want this to be one of those guides that dictates price and influences the market, but rather one that "receives" prices and is influenced by the market. I would like the market to be what it will, and for the price guide to follow.
-Winston
rjw
Well-known member
- Joined
- Aug 22, 2002
- Messages
- 257
Regarding the GT/CS 390 being discussed...if I am not mistaken, this was an "original owner" car which had been stored under cover in a garage for something like 12 years...both factors may have been at work in valuing it on the "high" side of market values.
I appreciate the efforts invested in trying to come up with GT/CS prices. I'm sure that it will be very helpful to many people. During your investigations into options and car prices, did you give any thought to whether a premium of any kind would be appropriate for original/unrestored cars? I have two unrestored GT/CS cars in very good condition...so I'm curious what you think.
Thanks
Scott
Thanks
Scott
x-codegtcs
Well-known member
Winston,
Thanks for your thoughts. I guess I had to ask since according to your list I over bought my xcode :-[ BUT I got a killer deal on the Jcode ;D All in all, I am happy to own my gt/cs's since I have been around them since 85. Beauty cars and gets lots of looks.
8)
Bryce
Thanks for your thoughts. I guess I had to ask since according to your list I over bought my xcode :-[ BUT I got a killer deal on the Jcode ;D All in all, I am happy to own my gt/cs's since I have been around them since 85. Beauty cars and gets lots of looks.
8)
Bryce
StraightSix
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- Joined
- Aug 20, 2002
- Messages
- 272
[quote author=x-codegtcs link=board=1;threadid=195;start=0#931 date=1044852702]
Thanks for your thoughts. I guess I had to ask since according to your list I over bought my xcode
[/quote]
That's just it, Bryce. You probably didn't pay too much for your X-code. More likely it's that the guide isn't representative of the actual value. I didn't really have any GT/CS data points for a 390. I only had the Mustang Monthly data for non-GT/CS X-code cars, and the general consensus reached on the *minimum* value of hubert's original owner car. The only reason I decided to include the X-code in my guide with such little information was there seemed to be a good bit of interest in its value, what with several board members owning one and hubert selling one at the time. Again, this guide is supposed to follow the market and reflect what actual buyers and sellers feel is a fair price for their cars. As long as what you paid isn't way out of line, then the guide should be based on your purchase and the purchases of others.
As far as 390 and larger-engined cars are concerned, the price guide isn't really at a useful point of yet. For 6cyl-289-302 cars, you can probably be sure you paid too much if it's way over the value given by the guide. That's only because of all of the sales data I have on those cars.
The thing is, a price guide is a dynamic thing. Because of its nature, it must follow the market. If it didn't, the value of things would never change. Each time someone pays more than the value stated in a price guide, that's a bump toward increasing the value of that car (or whatever thing you buy). Therefore, you should always be willing to pay what a car is worth to you, even if it's a bit above what the guide says. If most people do this, then that's how their investment gains value. Hopefully, that information makes it back to the price guide, and in the next edition the car is documented to be worth more!
-Winston
Thanks for your thoughts. I guess I had to ask since according to your list I over bought my xcode
[/quote]
That's just it, Bryce. You probably didn't pay too much for your X-code. More likely it's that the guide isn't representative of the actual value. I didn't really have any GT/CS data points for a 390. I only had the Mustang Monthly data for non-GT/CS X-code cars, and the general consensus reached on the *minimum* value of hubert's original owner car. The only reason I decided to include the X-code in my guide with such little information was there seemed to be a good bit of interest in its value, what with several board members owning one and hubert selling one at the time. Again, this guide is supposed to follow the market and reflect what actual buyers and sellers feel is a fair price for their cars. As long as what you paid isn't way out of line, then the guide should be based on your purchase and the purchases of others.
As far as 390 and larger-engined cars are concerned, the price guide isn't really at a useful point of yet. For 6cyl-289-302 cars, you can probably be sure you paid too much if it's way over the value given by the guide. That's only because of all of the sales data I have on those cars.
The thing is, a price guide is a dynamic thing. Because of its nature, it must follow the market. If it didn't, the value of things would never change. Each time someone pays more than the value stated in a price guide, that's a bump toward increasing the value of that car (or whatever thing you buy). Therefore, you should always be willing to pay what a car is worth to you, even if it's a bit above what the guide says. If most people do this, then that's how their investment gains value. Hopefully, that information makes it back to the price guide, and in the next edition the car is documented to be worth more!
-Winston
