Boston Bob doesn't think we'll correct like 1991 because "we're years along now." He believes the previous boom was populated with speculators and older collectors more interested in pre-'60s vehicles, compared to people who are now in their forties and fifties and favor cars of the '60s.
Drew Alcazar pegs these 45- to 65-year-old buyers as affluent. George Waydo, owner of K.A.R. in Columbus, Ohio, has a showroom full of classic Mustangs. He says his customers call and ask the price of a car they want. Many are baby boomers buying the '60s car of their dreams. George says they want a "youth-extender," and a musclecar fits the bill.
"They are not conscious of value," George points out. "They don't know if a car is worth $19,000, $29,000, or $49,000. They just know they can afford it."
Are Longtime Owner/CollectorsThrilled With Prices?Dennis Falk owns a pair of Shelbys, both '69 GT500 convertibles. Prices are about $100,000 for fastbacks, and at least 50 percent more for convertibles. One of his Shelbys is an unrestored original. The other is in the paint shop and under restoration.
We asked, "Are you excited because your cars are going up in value?"
He answered, "Me? No. I mean, if I was going to sell it, yes. But I don't plan on selling. It gives me a good feeling to know my investment hasn't gone down. It's like buying a stock. If you're going to hold it, it's only worth what it is when you are ready to sell it. That's how I look at it. Had I bought them purely as investments, yeah, it'd be a nice deal."
Falk is a banker with the attitude of many of us. We don't want to sell and not have a car. His course remains the same as when he bought the Shelbys: "Buy it, drive it, and enjoy it."
Top 10 Known Prices for '64 1/2 to '73 MustangsIn the Nov. '04 issue, we compiled our first-ever, top-10 Mustang price list. Now, after the big winter auctions, six of the original ten have been bumped from their lofty spots. Interestingly, last year's list included a number of restomod-type cars; this year's list is dominated by original muscle Mustangs.
| Price ||Model ||Notes |
| 1. $280,800 ||'67 Shelby GT500 ||Barrett-Jackson 2004, Black, aftermarket wheels, aluminum Shelby 427 market engine |
| 2. $260,000 ||'66 Shelby GT350 ||Russo & Steele 2004,First ’66 Shelby Mustang |
| 3. $240,000 ||'69 Boss 429 ||Kruse International 2004, Black, Woodhead Collection |
| 4. $225,000 ||'65 Shelby GT350 Competition ||Documented private sale, restored to concours |
| 5. $224,640 ||'68 Shelby GT500KR ||Russo & Steele 2005, Highland Green, convertible, SAAC and MCA awards |
| 6. $194,400 ||'69 Boss 429 ||Russo & Steele 2005, 20,000 miles, original Maroon paint |
| 7. $194,400 ||'67 Shelby GT500E ||Barrett-Jackson 2004, First in the Eleanor Shelby series |
| 8. $191,160 ||'67 Shelby GT500 fastback ||Barrett-Jackson 2005, Rotisserie restoration, dark green |
| 9. $162,000 ||'68 Shelby GT500KR fastback ||Barrett-Jackson 2005, No information available |
|10. $162,000 ||'67 Shelby GT500 ||Barrett-Jackson 2005, |
| ||fastback ||29,000 miles, restored, green |