Dusty GT: 1967 Ford Mustang Fastback

This Fastback Mustang GT has some serious potential. The seller claims the body is solid, but it has had some patch work done in the past. They believe it was restored sometime back in the ’80s and was repainted red at that time. Originally, they had plans of installing a 2008 Shelby GT500 engine and transmission in it, which they have on a pallet. The car is currently bid up to $25k with no reserve and 8 days to go. Plus, if you want the Shelby drivetrain, you will have to work out a deal separately for it. You can find this Mustang here on eBay in Highland, Illinois.

The seller believes the engine that is currently in the car is a 4-barrel 289 V8 from a ’65 or ’66. They were able to get it running, but it needs work. It’s paired to a 4-speed, which shifts through all the gears. They don’t offer the car’s numbers, so we don’t know which engine it originally shipped with. There’s a big difference in value between small and big block cars, so it would nice to know what it should have under the hood.

I’m actually kind of surprised by the current high bid on this Mustang. I think it could very well be worth this much or more, given what Fastbacks are going for these days, but I can’t help but wonder if the 2 bidders think the Shelby engine comes with it. Unfortunately, it’s going to cost you extra to take the engine home and the seller doesn’t state how much they are going to want for it. It sure would be cool to have a 500 horsepower supercharged 5.4 V8 under the hood!


  1. Steve R

    This car has more rust than the seller suggests. “Small bubbles” is generally just a fraction of what’s actually present. There are visible rust holes on the top of each inner fender. There is probably a good chance the bodywork from the previous restoration hides something ugly underneath.

    Good luck to whoever buys it.

    Steve R

    Like 10
    • Steve Bush Member

      HUH!! Bid to almost $30k!! For a non original drivetrain/interior 1967 Mustang FB GT with rust issues that will need another $30k or so to be a nice driver. When people talked about spending money on crazy things like this, my late mother would say “they should have their head examined.”

      Like 13
      • Dave

        Lee Iacocca died last night so expect a price bubble on anything he’s associated with.

        Like 6
    • Superdessucke

      The other Rustang on here is at a similarly ridiculous price. My theory is that the working class has been taking busts right in the mouth since the late 70s. Now they feel they matter and are shining.

      So these purchases of golden age red, white and blue Americana represent pent up jubulance and hope? I don’t know. I have no other way of explaining this. It makes no rational sense for sure. The market for most 60s cars probably has 10 more years, at best, before it starts precipitously declining as the Boomers pass out of driving years. And the ultimate cost of this will far exceed its actual value, even in this economy.

      Like 3
      • Steve R

        I have friends that have been saying the same thing for 25+ years. They still haven’t been proven right yet. This is old tired rhetoric. Sure, some cars will come out losers, others won’t. It’s always been that way. The smart buyer don’t generally buy rusty or incomplete car. It’s the novices and impatient, that do.

        Steve R

        Like 1
      • Superdessucke

        And people were saying that homes couldn’t lose value for at least twice that long. I’m not saying. I’m just saying.

        Like 5
  2. Superdessucke

    25 grand already and at least 25 grand in work left to go, if whoever buys it is lucky. I’m going to save some money on my next muscle car fix and buy a new Mustang GT PP2. Absolute peanuts compared to what this would ultimately cost.

    Like 5
  3. fran

    WOW, bidders crack me up, bidding lots of money on a car that probably needs floor pan, front frame rails rear frame rails wheel houses inner panels in the engine area….bla bla bla etc 5X’s Quarters front fenders doors!

    Like 3
  4. Gaspumpchas

    No pics of all the typical rustang rust. Non orig engine. One available separately.25 large?? Too much money out there- hope the guy sends someone to give the whole car a good inspection. Good luck to the new owner!

    Like 3
  5. stillrunners stillrunners Member

    What Keith said…..

    Like 1

    If I were buying this car give me the 289 please and keep the Shelby engine. I don’t need 500 H.P. these days. You can still get in plenty of trouble with reworked 289 or even stock. But too much money for a BIG question mark Mustang.

    Like 1
  7. Troy s

    Hadn’t heard of Iacocca’s passing, my condolences to his family.
    Mustang’s have been collectable for many years,maybe since the Mustang II, and the ones they make nowadays sure take after these old ones. I personally think they’ll remain sought after collectable cars for years to come. Again, you just never know what people will throw money at.

  8. TimM

    Lots of money but we’ve seen cars with no motor no trans go this high!!!

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