GT 390: 1968 Ford Mustang Fastback

The difference in price between a standard Ford Mustang Coupe and a Fastback is pretty dramatic. According to the classic car insurer Hagerty, a base 1968 Mustang Coupe V8 in good condition has an average value of $17,600 while the same car as a Fastback has an average value of $25,600. The Fastback featured here on eBay has a current bid just shy of $50,000 and is located in West Shokan, New York. While that price is nearly double the average value, there are some special things included with this sale. Check it out.

This car was born as a real-deal “S” Code, Highland Green 1968 Mustang Fastback GT 390. The original engine is seized and needs to be rebuilt but the seller says it still has the original I.D. tag and Holley Carburetor. Since the car was originally Highland Green, it would make an awesome Bullitt clone!

According to the seller, the car has been garaged since 1979. It was totally disassembled for restoration but never completed. There are some N.O.S. (New Old Stock) parts included with the sale. As you can see there is an original Ford hood, still in the FoMoCo wrapping. The fenders were in the same condition but the seller unwrapped them for the ad photos. The seller lists quite a few parts that are missing, but thanks to aftermarket suppliers, they shouldn’t be too hard to find replacements for.

The seller doesn’t say much about the interior other than the original black bucket seats have been replaced with tan ones. The 4-speed shifter is in place and ready to slam some gears. The steering wheel is aftermarket, but other than that it doesn’t look like it has been messed with too much.

Overall, this seems like it would be a pretty good project, although the mid-five figure price tag seems a bit steep to me. If I had $50k sitting around, I might pick up a finished car or driver that I can put some money into. What about you? Does this seem like a good project to you?

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  1. bobhess bobhess Member

    Might be a good project but not at that level of price. A New York car without New York rust would have to be seen to be believed. Whoever’s got the 50K bid either knows something about the condition of this car or has enough money where it doesn’t make any difference if the restoration is twice the purchase price.

    Like 17
  2. George

    For 50k it needs to come with its own mechanic and body man…

    Like 18
  3. TimM

    For 50K I’m sure there are better examples out there for the money!! Besides if the seized motor ends out being toast you spent 50K on a car that’s not going to be numbers matched any more!! Might as well take your 50K to the craps table!!

    Like 10
    • Scott

      Mustangs do not have “numbers matching” anything. The date code cast into the block is the only identifier. Find an engine made in 68 and your good to go.

      Like 3
      • Timothy Phaff

        Thank You Scott for pointing that out. It makes it easier to make a numbers-matching build.

  4. Eric B

    I wonder how much longer it’s going to take for people to realize what these sell for now. In the meantime, let’s see how many comments we can rack up saying this is too much money for a fastback. Annnnnnnd……GO!

    Like 8
    • john atanasio

      some people have more money than brains I think.I think that no car is worth that kind of money unless you are going to make a profit after you shell out another 30000 grad into is apsolutely crazy.

    • stu

      Eric B…..
      This car is priced proper….

  5. gaspumpchas

    this rustang is right around the corner from me, so if anyone is brave enough to spend the coin on this ruffian, let me know I’ll take a look for you. Not one pic of the underbelly, good luck and stay safe, Charlie, 845-635-3662.

    Like 4
  6. bill tebbutt

    Wow. I agree with Eric B. As a 68 GT owner, I can’t believe the prices of projects. I mean, I’m happy and all. But having spent 12 years restoring my own car, a previous poster’s comment on $50k to restore this is not crazy. At all.

    I’m going to have to start looking in more barns!!!!!


    Like 5
    • Eric B

      Bill, I have a 67 GTA I bought about 6 years ago as a running, driver quality semi-project. Some would probably do a nut and bolt, but it’s presentable as is. Has some minor rust bubbles, needs floor patches, has an 80’s repaint. Little things. I bought it for 24, but it was local to me, so I was willing to spend a tad more because I could actually look at it, no shipping charges etc. At the time, it was probably worth closer to 20-22. I haven’t done a thing to it, because life. Just bought a lot of parts when I see a good deal. I could sell it as is and make a nice profit. The prices are ridiculous, but they are what they are, and frankly I’m questioning whether I should sell. I’ll be too scared to drive it being worth so much. The same comments over and over regarding prices just gets a bit tiring. Prices of cars are what they are, crazy or not.

      Like 5
      • Steve R

        The most vocal critics of today’s pricing on this site typically aren’t even interested in the cars they comment on. They are sitting on the sidelines, happily entertaining themselves by complaining.

        Steve R

        Like 8
      • bill tebbutt

        Ha! Eric we had a similar start. Bought mine 13 years ago for $13k Cdn. It was local, and had been “restored” . I drove it for a bit, then, started thinking…….

        Took it to my bodyshop friend, whose work was exquisite, always (Rick passed away two years ago sadly). I thought we ought to sand it down and give it a proper coat of paint. Left the car. 2 weeks later, Rick calls and says “Come on over, we need to talk”. So we start picking away at the car. Front fenders off, doors and hood off. Decode the tag. Really start looking at the “restoration” that had been done.

        Turns out the silver car was originally black, had 8 (!) coats of paint on it, 6 different colours one at a time. and it was a GTA, which had always bugged me (ie not a toploader). I was making real coin at the time, which probably didn’t help my decision-making. So I said “Screw it – lets do a proper job on this!”

        Rick’s guys worked on it when they weren’t doing factory work for Mercedes and Porsche (!) – it was on the rotisserie for about 2 years. I built the motor and axle, sourced the toploader, specc’ed out 4 wheel disks, some fairly trick suspension, frame connectors, etc, and after 5 years in the corner of the shop I took it home. This summer, it will run for the first time – it is almost done now! It is a beautiful underneath as it is on top…..

        How much in it? You don’t want to know!!!!!!! I don’t want to know either!!


        Like 2
    • Eric B

      Steve R….nailed it. Some of them usually have a slight dig towards Mustangs within the complaint about their prices as well. Likely GM or Chrysler guys or whatever. Everyone has their own tastes and likes what they like, but who looks at a 65-70 (especially 67-68) fastback Mustang and doesn’t appreciate the incredible styling?

      Bill, sounds like you’re going to have quite a car though and at least these current prices should make you feel much better about what you have into it. I’m sure you can’t wait until this summer. Not to make you paranoid, but make sure you take the necessary precautions to keep you and it safe. Make sure no one follows you home, etc.

      Like 1
  7. Tom

    The collector car world has officially gone off the cliff. 50 grand for this thing because it was originally green?? Unbelievable…

  8. Gary Rhodes

    The only person that makes money on a restoration is the restorer. I love seeing people’s ads
    ” $125,000.00 invested, will sell for $55,000.000 or best offer” I looked at a 64 Plymouth Fury in 1998 at the Mopar Nats, tube chassis, altered wheelbase, 14-71 blown Kieth Black dual plug aluminum Hemi, 1800 hp on gas, Lenco transmission, Dana rear axle. A absolutely beautiful car with only 500 miles on the build. The owner said it scared the crap out of him and I believe it. On the trailer it shook the ground while running. I was seriously considering buying it but my dad asked me how far I thought I’d get to a tank of fuel, I would have had to pull a Cam 2 trailer behind me to go cruising so I reconsidered. He said he had almost $130,000.00 and sold it for $45,000.00 while I was there.

    Like 1
  9. George Mattar

    Playground for the rich. All the deals for workin folks gone $50,000. More money than brains.

    Like 1
  10. Larry Ashcraft

    I had one of these, but sold it before the prices went crazy. Mine was maroon, and I put a Hurst shifter, Hooker headers, new 2.5″ exhaust, and a 3:89 posi rear in it. When my daughter turned 16, I got rid of it.

  11. Pauld

    It was a decision to buy an old muscle car and have to work on it and worry about someone running in to it, or buy a new muscle car. I bought a new 2018 Challenger, scat pack 392, with shaker hood, and loaded for 50K. It has all the modern electronic things and Brembo brakes. It addition it is safe with air bags. Who everr bid 50k for this project should re consider.

    Like 1

    Sorry but you are wrong. Starting in 1968 Mustangs, and all other Ford products, do have the VIN stamped on the engine and transmission. This was mandated by the federal government and Ford did follow those rules. Also the numbers shown on the engine ID tag in the last ebay photo will match the numbers on the build sheet, if one is to be found in the car. So yes, there is such a thing as a matching numbers Mustang.

    Like 1

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