Live Auctions

German Pony: 1967 Mustang Convertible

When I first saw this Mustang Convertible, I was a bit confused by the price. I know low mileage V8 Mustang Convertibles can fetch good money, but $19k seemed high for a project. Then I read the listing and I understood the asking price. You see, this one was one of only a small number of Mustangs built to be exported to Germany. On top of that, it was ordered with lots of bells and whistles. After a few years in Germany, the owner (a military officer) had it shipped back to California where it has resided for many years. It’s now in Wylie, Texas and has been listed here on eBay.

Here are the options this Mustang was ordered with: T-5 package with all Mustang emblems deleted and T-5 badges added, manual convertible top, courtesy light group, rocker panel moldings, console, power disk brakes, heavy duty export suspension (1 of 2 to get this option), AM radio, Deluxe seat belts, accessory package, metric speedometer, paint code B – frost turquoise, interior code 2K, Engine 289 2V, C-4 auto and the 2.79 rear axle. It was quite the nicely optioned car, but after returning to America, the owner’s wife decided she wanted it upgraded a bit. More on that below!

The owner was clearly a Mustang aficionado, as they also owned a 1965 Shelby Mustang. Their wife liked it so much, that she wanted one of her own. Since they already owned this Convertible, they upgraded it with Shelby and Ford performance parts to bring it a little closer to Shelby performance levels. They also performed a restoration with a color change. That part is a bit of a disappointment, as I actually like the frost turquoise color, but this red isn’t terrible. The couple eventually moved to Texas and brought both cars along, sadly a few years after the move this ’67 developed an engine knock and it was parked.

It’s going to need a fair amount of work, but it looks to be quite solid. The seller provides lots of good photos of the underside and the rockers. I’d like to see what’s under the rocker panel moldings, as they could be hiding rust. Hopefully after spending most of it’s life in California and Texas, it doesn’t have any serious rust, but you will want to take a closer look at it to be sure. So do you think being badged as a T5, rather than a Mustang, with some rare options makes this Pony worth the asking price?


  1. grant

    As I recall, all Mustangs sold in Germany were called “T-5”, apparently “Mustang” was patented as a bicycle brand there.

    • BradL

      German truck maker Krupp had the copyright for one of their models.

      • JW

        That is the story I got from my Haggerty newsletter last month on the T-5 name.

  2. CCFisher

    These cars were built with galvanized outer rocker panels that rarely rust. Inner rocker panels (convertibles only) are another matter…

  3. dirtyharry

    All the bells & whistles? I don’t think the 2bbl carb, auto & lazy rear axle ratio qualifies. This was just one step up from the straight 6. I would think the dealer wants every possible dollar for this Stang. I guess when an internet ad, gets you to the entire world, prices tend to be high. Hagerty shows pretty flat values for these, with 58k for Concours, down to 18k for one in fair condition. I am thinking, next “jackpot” cars, with values to get “911 style” hysterical, at some point in the future. They have everything going for them and the 67 body style looks good today. Aftermarket parts a key-stroke away. I personally think a tasteful resto mod gives you a fun car, with great potential. Since this is coming apart, you have a blank canvas. I will take mine with a brake upgrade, a 5-speed and a built 289.

  4. Mike Williams

    Convertibles can buckle in the middle when they get inner frame rot. So be careful with this one.

    • Bill McCoskey Bill McCoskey Member

      My shop replaced many Mustang/Falcon/Comet body structural parts over the years. A coupe or fastback rocker had a cross-section resembling the letter “D”, with the curved part as the outer rocker panel [they were galvanized], and the inner rocker was a simple flat piece of steel that was the straight section on the letter “D”. This piece didn’t get painted on the inside and it wasn’t galvanized. So they rust out from the inside.

      The convertibles added another inner box section, sort of like adding another curved section to the letter “D” forming 2 long box structures. The problem was, that flat panel was now hidden from the paint process on both sides, and often rusted to the point there was no metal at all. Plus, the lower part of the special convertible inner brace didn’t get painted and often rusted out.

      When I would take a close look at one of these cars, I always [with the owner’s permission] used an ice pick to go thru the weave of the carpet, to see how weak the metal was underneath. If the ice pick went thru both sections of the sill assembly, all the way to the inside of the outer rocker, I knew it required all new Inner, center, and outer rocker pieces to be welded onto the body, a very expensive undertaking.

      [look at the carpet near the door sill on this T-5, and you can see the carpet covering the top of the convertible floor box section.]

  5. flmikey

    …color change+rod knock+poor condition does not equal 19K…and I don’t think that just because it’s tagged as a T-5 it’s worth any more than a regular 67 mustang convertible…if it brings anywhere near 5k I will be totally surprised…

  6. Boss351

    Highly optioned? Are any of the really nice goodies working like speed control, tilt away steering, and a/c? 4V carburetor is not original. Color change is a bummer.

    Underneath pictures don’t show too much rot but I would insist on a full inspection before dropping $19K on this Pony.

    • scottymac

      Strange that the Marti report doesn’t show the options you mentioned, wouldn’t those normally show up? They certainly look like factory installations and would be highly desirable. The seller’s gallery makes the car look awfully clean underneath. I thought, Germany, lots of road salt and rust. Doesn’t seem to be much. The T-5 emblems are there, don’t think any vendors have repopped them yet. The axle ratio makes sense for the speed limitless (at the time) autobahns, so make perfect sense. I’m way out of touch on Mustang prices, but I don’t think the seller will have to try very hard to get his price. And no, not affiliated with seller.

  7. Luke Fitzgerald

    Not of my money

  8. JP

    Very cool, never actually have seen a T5. I would say very worth restoring to all stock especially from TX and a convertible. Mustangs are not getting any cheaper that’s for sure. Price should be lower just for the color change imho.

  9. Motrbob

    Needs a motor, top, paint, interior is incorrect and what else? All this for $18,500.00…..WOW what else can I say!

    • Keith

      Welcome to the world of classic cars in these days…..

  10. Magstar67

    I think the seller is associated with the Gas Monkey Garage crew and is the financier of the big money cars in some episodes.

    He often has very nice 70s & 80s & 90s Jeeps and they are priced high but they are the nicest you’ll ever see

  11. Jubjub

    Oh, but come on guys, looks like the one Deborah Winger drove in Urban Cowboy!

  12. Fiete T.

    You could and still can order cars through AAFES/ NEX services. It wasn’t ordered through a European Ford dealer most likely

  13. Rocco in Florida Member

    A T-5 is pretty rare.

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