The Mustang got its second mild restyle in 1969 and would continue to sell well although just about everyone else was fielding a pony car by then. This convertible is a work-in-progress and in limited company as the number of 390 V8/automatic ragtops made that year were under 150. That year would also be the swan song of the 390 in the Mustang. This two-owner car is about 95 percent complete and needs someone new to finish the work that was been started. Located in Yachats, Oregon, the car is offered here on Barn Finds Classifieds for $21,500.
This car was purchased by the seller from the original owner about 13 years ago. The original purchaser had rebuilt the motor the prior year and put 2,000 miles on it then, but the rest of the car needs a serious restoration. The seller drove it around a little before starting to take it apart about three years ago. He did his homework in buying this car as he mentions its rarity in terms of production: only 252 Mustangs convertibles were built with the 390 V8 and just 146 of those had the automatic transmission. Given the list of options to car was fitted with, it drills down to 1 of 1 according to its Marti Report.
When new, this car was finished in Meadowlark Yellow paint with a black convertible top and interior. If came with quite a few accessories, like power steering and front disc brakes, factory air and an AM radio/8-track tape player (I still have a few of those tapes; thankfully, technology has improved in the past 50 years!). The 390 V8 engine has been verified as matching the car. When the buyer begins work on this project, the needed pieces will include a new full one-piece floor pan or two side pans. But we’re told the frame rails, torque boxes, and trunk floor are all good.
The car is mostly complete, but not everything there is pictured. For example, a bunch of other stuff will need to be loaded onto the truck: radiator, front grille, front and back valances and bumpers, headlights and taillights, dashboard, gauges, glove box, dash pad with a rip in it, carburetor, driveshaft, two sets of rims, reupholstered front and back seats, A/C plumbing, and rear interior quarter panels. After you get the floors inside the car fixed, be sure to acquire new carpeting, door panels, vinyl material top, trim piping, and probably some odds and ends.
The last photo here is what this car may have looked like back in 1969. Until the Mustangs really got big and bulgy in 1971, these are some of the best looking of the breed. If you’ve got the space, time and some extra coin left over from the stock market, this looks like a good project to finish up!
95% complete? I see a lot of stuff missing from this project. I fear that the asking price will put you underwater from the starting gate.
The rest of the 95% of the parts are not shown in the pictures but are present as stated in the ad
I had a 69 convertible back in the 1976 and sold it. Now its in the UK and they spent close to the asking price for this one. Mine was in much better shape and road ready. I hope that this unit has factory air because an aftermarket A/C runes the looks and value . I did not see any factory a/c under the hood. It would take alot of work to bring this one back,3
If you read the Marti Report it states it is a factory A/C car. The A/C lines are not present but the compressor mount on the engine is present and so is the under dash unit. The compressor is just not shown but present
Well they may have spent close to my asking price for your 69 mustang convertible, but I will bet it was not a 390 big block car. Funny how people who make comments truly do not understand that not every mustang is priced the same as its lower end model. You would not find the price for a 69 Mach 1 with a 428cj engine being the same as a 69 fastback with a 302 engine. The same goes for my 390 convertible. Only 252 made with the 390.
Where do sellers come up with these prices?
Sellers price their vehicles based upon several factors,
1) Rarity of the vehicle (in this case without breaking down all the options they only made 252 big block 390 mustang convertibles in 1969. That is pretty rare. Then only 146 of those were automatic transmission cars and with the other options 1 of 1. So, you can not compare a 390 convertible price to a 302 or 351 where they made tens of thousands. Also, think of how many of these cars were destroyed in wrecks.)
2) Desirability of the vehicle (Like the 1970 Cuda Convertible with a big block engine, this 1969 Mustang Convertible is desirable for the few who can afford them with a very limited in production.
3) Prices based on other similar cars. In this case the 390 convertibles rarely come up for sale. It is like saying where do you come up with a price on a 69 Shelby Mustang over the $100,000 price. Rarity, Desirability, and Prices based on others.
I have a red 69 convertible with the factory 351W auto and factory AC. PWr disc and steering in fantastic condition. Tried selling it last year for 25k with no takers. Since i moved from San Diego to Arizona its a great car to have here. Decided to keep it. The pool of buyers for these cars seems to be getting smaller..
I got a 1969 red Mustang convertible after I graduated from high school in 1971. $2,500 with only 25,000 miles. I always wanted a Jaguar so I soon traded it for a 1965 3.8S. Big mistake. Rebuilding a Jaguar engine when your Summer job pays $2.40 an hour is not much fun. On top of that the person I traded with wrecked the Mustang racing it at Golden Gardens Park. Since he had not transferred the title yet, the police came looking for me.
Never could understand why an original owner needs to rebuild his motor. We still take nice care of our cars don’t we? Even Joe Biden’s sons had Joe’s 1967 Corvette’s motor rebuilt as a surprise gift to Joe. A car Joe still loves to drive. A lot of us are in that “me too” category when C2 Corvettes are concerned. Maybe Joe has a heavy foot. I still don’t understand an original purchase by the original owner needing a motor rebuild later.