How lucky could a guy get to buy a 1970 Mach 1 Mustang originally sold from the factory with a 428 cubic-inch Super Cobra Jet engine and drag-pack suspension? Not only that, but as the eBay listing describes, only 23 of these Mach 1s were sold without the Ram-Air option, and only one of them was the green paint, meaning that this car is truly one-of-one.
It’s amazing that it sold for only $10,900 right? Or is it amazing that it reached that price point? This car comes with a catch, and that catch is that nothing is left and it’s going to cost a pretty penny to get it show-worthy again.
This car is the definition of project. We can only imagine that the person that let this car get into this state is having some serious regrets right now. With this car, you’re basically getting the VIN tag, the cowl tag, and a bunch of rusted metal around them. There is no engine, no transmission, no rearend, no hood, no fenders, no doors, no trunk lid, no wheels, and no tires. This car is the definition of a project. It’s hardly even classifiable as a project car and if it weren’t for its rarity, it would hardly be worth use as a parts car. Of that whole list of missing things, one of the more important things that is absent and one we did not mention yet — it also doesn’t have a title!
Imagine buying this and getting into a title dispute only to lose your $10,900 investment to a previous owner that held the legal papers? Yikes! It’s unlikely, but it wouldn’t be the first time. We’ve got to venture that the person buying this, did not buy it to restore and try to flip for a profit.
If this car ever sees the road again, or if it even sees an engine ever again, it would be a labor of love putting it together for their own driving and showing pleasure. Think about how expensive it would be to restore this to its former glory. We’re looking at a sumptuous list of expensive parts, especially if someone is trying to go numbers-matching.
The sale of this Mustang really makes us wonder what plans the buyer has for the car. Are they going to give restoration a shot? Are they going to buy fiberglass parts and build a drag car? Or do they make the world’s most unusual and expensive rat rod? It’s hard to say, but we’re sure we haven’t seen that last of this car. In another couple years we won’t be surprised to see a build update, or we’ll see it transfer hands again — likely for more money.
While this car is rare and nearly justifies the insane price tag for the light load of almost scrap metal that’s left from the once magnificent car, there is a major unintended consequence to the classic car market after something like this sells for such a high price.
Now prospectors with plain-Jane Mustang boides behind their houses or in their fields might try to list them for $5,000 claiming that they worth that because “I saw one on eBay sell for double, so mine has to be worth something.” So if you’re planning on buying a vintage Mustang project in the near future, it may not be a bad idea to sit out of the market for at least a few weeks and wait for the hype to die down enough to pickup a good deal.