Somewhat like myself, the First Generation Mustang grew bigger and heavier with each passing year. Unlike me, buyers could still order a 1973 Mustang Mach 1 with an engine that made the car fleet of foot. That is the case with this Mach 1, which features its original and desirable Q-Code 351 under the hood. It has sat for a dozen years, but the time is right for it to find a new home and a brave soul willing to return it to its former glory. The seller listed it here on eBay in Andersonville, Tennessee. The bidding has raced to $1,525 in what appears to be a No Reserve auction. We always appreciate the input of our readers, so I must say a big thank you to Barn Finder Larry D for spotting this forlorn forest find.
The 1973 model year marked the last hurrah for the First Generation Mustang, but the car sparked slight nostalgia among buyers that saw sales lift from 125,903 vehicles in 1972 to 134,867 for the final year. Of those, 35,440 took the extra step to tick the Mach 1 option on the Order Form. This is one of those cars, and it must have made a bold visual statement in its original shade of Medium Bright Yellow. Those glory days have faded to a dim memory, and returning this classic to that state will prove challenging. The panels look relatively straight, but if, as I suspect, this classic has spent more than five years under its current owner in its present location, the amount of rust is no surprise. It would probably be a shorter list if I told you what doesn’t require replacement because it’s a good thing glass doesn’t rust! The buyer will face purchasing and installing new floor pans, the passenger side front frame rail, the section under the battery tray, the radiator support, the driver’s door, the rear quarter panel on the same side, the trunk lid, the hood, and the rear tail pan. When you add various trim pieces and perished seals to the equation, someone could end their shopping spree with a far thinner wallet. The glass looks like it could be okay, proving every cloud has a silver lining.
To understand the scope of the challenges facing Mustang buyers in 1973, we need to compare vital statistics to gain insight into the First Generation’s evolution. If a buyer walked into their local Ford showroom in 1965 and ordered a Mustang GT 2+2 Fastback equipped with the sweet K-Code 289ci V8, they had 271hp and 312 ft/lbs of torque to shift a car weighing 2,974lbs. Wind forward to 1973, and the Mach 1 with a Q-Code 351 under the hood delivered 266hp and 314 ft/lbs of torque. However, that motor powered a car that tipped the scales at 3,529lbs. Weight is the sworn enemy of performance, making it unsurprising that the ¼-mile ET increased from 14.7 seconds to 15.2 seconds. Considering the extra weight, the performance was respectable in a 1973 context. Drivers felt the extra mass when cornering or braking, with the ’73 model far less nimble than its predecessor. The saving grace is that the Q-Code is less “peaky” than the K-Code, delivering its power more smoothly and progressively lower in the rev range. As well as the 351, this car features a C6 automatic transmission, a 9″ rear end, power steering, and power front disc brakes. The vehicle doesn’t run, and the listing indicates it hasn’t for at least twelve years. The state of the engine is unknown, although the seller believes it is probably frozen. Considering the damp environment and the accumulated corrosion in the engine bay, that’s probably a fair assumption. That brings us to one further fact to consider. That Q-Code is a desirable commodity in the classic world, and buyers are willing to pay a heavy premium for numbers-matching Mach 1s with that engine under the hood. Therefore, revival could make the difference between whether this is a viable project or whether this Mustang’s fate is to serve as a parts car.
The original owner ordered this Mach 1 with an interior trimmed in Brown vinyl, adding a factory tachometer and an AM radio. The interior is complete, but the mold appearing on both bucket seats suggests it probably smells damp and swampy. Some components may be salvageable, but any upholstery, carpet, foam, and underlay is probably headed for the trash. The accumulated dampness also raises questions about the state of the wiring harness. It would be fair to expect corroded connectors, relays, and switches. While a dedicated enthusiast could dismantle the harness and replace the faulty items, installing a new harness as part of the build will be the best option. Once again, this is an aspect of this project that could consume mega-cash.
I am an eternal optimist, and I would like to think that someone will take this ’73 Mustang Mach 1 and return it to its former glory. Seeing a classic reduced to this state makes my heart ache, and while I acknowledge it happens, I don’t believe a vehicle of this caliber deserves to end its days this way. Although I’m an optimist, I am also a realist, and I understand that its restoration will involve an equal expenditure of time and money. Usually, I would question the financial viability of such an undertaking, but this car deserves careful consideration. The Q-Code 351 under its hood makes it desirable, with buyers willing to pay a healthy 30% premium compared to an equivalent vehicle with a less potent V8. I still believe it will be a close call, but with values rising far higher than the market average, a meticulous restoration could make it a reasonable long-term investment. Do you agree, or do you think this Mach 1’s glory days are gone?
If you can win the bid at a reasonable cost maybe $2500, it is definitely worth the time and money to fix. Parts are expensive but not so hard to come by. Anything that proves to be a real Mach1 is going to rise in value. Of course an in person inspection to see just how much rot there is is definitely in the cards. You can count on a total 100% rebuild of the motor and tranny as well as the Interior! A lot of time and work is involved but to get it at the right price is probably worth the risk!!!!
In my mind this was the year model that started the Mustang decline. After all the beautiful cars built in the late ’60s this one almost looks out of place. This car looks like it’s place was under water at one time. About as rough as you can get. If it was a ’68 or ’69 the effort would be worth rebuilding it. Big money pit here.
The original Eleanor, Gone in 60 seconds was the first movie I paid money to go see at Hillcrest 4 theaters. I have read that it was a 71 changed to 73 trim but it was still a kickass movie for a 13 year old
Another concern would be rodent damage to wiring and soft surfaces. Probably mouse nests in exhaust and heater boxes, air intake and maybe into carburetor. Lots and Lots of work ahead for any buyer.
12 years outside in the TN weather? No thank you! This hulk requires a complete rotisserie restoration and in the end the car is not a desirable Mustang compared to the 60s years.
Maybe a parts car? Besides, why would anyone let a car set for 12 years outside?…Never have been able to understand that way of thinking…. Would imagine car was still running when left outside, why not sell it then????
Send it back to the Forrest!!!!!!!!!
Original Eleanor was also not a Mach 1 .
“Mach 1” was not an option. It was sold as a separate model. The Q-code 351 was an option over the 302-2V that was standard on the ’71-’73 Mach 1.
@Adam Clarke
You wrote: “Somewhat like myself, the First Generation Mustang grew bigger and heavier with each passing year. Unlike me, buyers could still order a 1973 Mustang Mach 1 with an engine that made the car fleet of foot.”
I laughed my fat butt off reading and relating to that comment. You’re the man!
IDK why but 73’s to me do not look as good as 71-72’s However I have seen at recent auctions nice 71-73 Mach 1’s sell in the $40K range. It has the right engine and has the optional factory tach/gauge pkg which are 2 good things and it is complete so you do the math.
Been in the autobody 50 years, not worth doing it. The man hours will never end to make it as your dream car. Unless it was in your family and you want to spend thousands of $ and hours it’s just not worth it in my opinion. It will be purchased, disassembled and never finished.
I do believe the car can be salvaged, and should be salvaged based on the various options available, and that is exactly where the money to potential buyers resides. Yes, I do understand the man hours involved ( been doing these cars for several decades and get tired
of hearing all the crying about it on here) but parts are readily available at reasonable cost, and the car does have the Mach I going for it. The market has changed and people need to change with it, these cars are no longer street or drag cars, they have evolved into the market place as a tremendous investment assets, very much like a stock market portfolio, making money over a period of time. Please remember, high value is placed on all rare commodities, and in this case these cars are limited in scope and no longer produced. The value will continue to climb and pay high future dividends in the years ahead.