Million Dollar Mustang? 1964 Real Pace Car

collage

Yes, it’s THE car. No, it’s not a barn find, although it was a storage find at one point! This is THE 1964-1/2 Mustang pace car, modified by Holman-Moody, that paced the 1964 Indy 500 (or at least one of three that did). Here it is! There’s a neat story about it being found and restored by a Mustang enthusiast in Florida and how many original components it has. It’s being sold by specialists RK Motors in Charlotte, NC and is listed here on eBay for, get this, $1,099,000 or best offer!

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I wish they had gotten the font exactly right on the black. But that’s me. Since I don’t have $1M to buy it and correct it, I just had to say it here. However, this may be the nicest Mustang restoration I have ever seen. Period.

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As I understand it from this great article, one of the issues was finding enough Mustang convertibles to supply the Speedway. Not these three, but the replicas that were customarily provided to the Speedway and local dignitaries for the month of May. What a spectacular interior!

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It’s nice to see that the restoration quality continued under the car. Wow.

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And under the hood. Yes, I realize this isn’t a barn find, but I thought you folks might enjoy looking at this beautiful, rare car the way I did. And if any of you actually can afford this and choose to do so…I am up for adoption! Would you like to own something like this, that you couldn’t really drive? What are your thoughts?

Fast Finds

Comments

  1. nessy

    Over a million? For a Mustang? History or not, he is nuts period. If this is the case, I should list my beautiful 54 Dodge Royal Convertible 500 Indy Pace car for a million too. My car, with the Hemi and a stick, was also one of the track cars at the 54 Race.

  2. MH

    Who cares really? It’s just a mustang. If it’s so special ford would buy it back from the owner. Mustangs are a dime a dozen. Buy one like it for 10K and be money ahead. Then you won’t look like a fool who specializes t a million dollars on a car you can’t drive.

    • Andy Frobig

      A freshly restored, 64½ Mustang convertible for ten grand. Send me the Craigslist links, and I’ll go get my checkbook.

      • MH

        Not freshly restored. But a heck of a good driver. Waste of a million bucks I think.

      • grant

        +1

  3. flmikey

    I think the reason it’s listed at that amount is because there are people out there who WILL pay that amount for it…and if it were my car, and someone wanted to pay me that amount, I would gladly sell it…and in 20 years we will be sitting around saying “10 millions bucks? I coulda picked it up for a cool million 20 years ago…

  4. Michael V.

    I’ve always felt that classic car dealerships that list cars for ridiculous amounts do it for the publicity. Oh, I’m sure if someone offered to pay their ridiculous amount they’d take it. To me this is ten times what I’d consider crazy for this car. If I were being overly generous with someone elses money, I’d pay maybe seventy-five grand for this. Maybe I’m wrong.

    Like 1
    • Mike H. Mike H.

      Shelby built (6) GT350 convertibles in 1966 (Hagerty says four were built, but I’m sure I’ve read six); an order of rarity not dissimilar to a 1 of 3 pace car. . . What does one think those might be worth? Hagerty says $1.1M for a concours level restoration, $995k for a #2 car. Does that make this one worth the same money as a rarer than rare Shelby Mustang?

      https://www.hagerty.com/apps/valuationtools/1966-Shelby-GT350?id=13598

      Maybe? It only takes one guy.

      Like 1
    • RayT Member

      I don’t think you’re wrong. They’ve built in a monstrous profit margin for what is, at the end of the day, an early Mustang convertible. Even if they have all necessary documentation (which I’m sure they do) this doesn’t get anywhere near the seven-figure mark, at least for me.

      It’s a good thing I didn’t find it. Given the beefed-up engine and (presumably) suspension, I wouldn’t be able to resist driving it, probably a little more briskly than anyone did at the Speedway! Of course the resulting wear, stone chips and so forth would cut the value down considerably!

      Like 1
  5. Dolphin Member

    The “easily accessible provenance” that the seller mentions for this car seems pretty thin on the ground when you read what it is, especially for a $Million+ car. It wouldn’t come close to separating me from my money…assuming I actually had the money.

    They made multiple pace cars for each Indy 500 so there would be backup in case one had a mechanical failure. With multiple cars, you wonder whether this car was actually used as a pace car in the race, or even whether it was one of the cars at the track on race day, or displayed somewhere else. I have no special knowledge about that one way or the other, but from the description it seems to me that the seller doesn’t either.

    • RayT Member

      The accompanying article Jamie cites gives chassis numbers for the three “Official” official pace cars. So it wouldn’t be all that hard to verify that this one — or its chassis plate — was one of ’em. The article also mentions that the car was later owned by someone in Florida who is, presumably, the one who put it on the block now. Or at least his estate or ex-wife is….

      Still, not for me, even if I had the spondulix to play this game. I’m not, and never will be, a collector. Cars are to be driven and enjoyed, and I never much enjoyed standing around in a warehouse staring at them and wondering if they ran.

      Like 1
    • Dolphin Member

      From a short online article in 2014, Road & Track thinks this is an official Indy 500 pace car.
      See: http://www.roadandtrack.com/car-culture/a9104/you-can-buy-the-1964-indy-500-mustang-convertible-pace-car/

      But there is no VIN for this car indicated anywhere, either in the current Ebay listing or the 2014 R&T article. The R&T article says the car was for sale in 2014 for $1.1 million by the same RK Motors Charlotte as in the current Ebay listing.

      The 2014 R&T article also says that of the 3 official Mustang convertible pace cars, only 2 were actually completed, and one of those had a mechanical failure. The article then says that:

      “Benson Ford himself drove the lone survivor around the Brickyard. Like so many legendary machines, the Mustang vanished, only to be rediscovered by a Mustang Club of America official in the early ’90s. He restored the car to its original glory, and now the machine’s for sale.”

      So is this that actual pace car that Benson Ford drove at the Indy 500? I don’t know, but the fact that it’s still for sale after years on the market says that so far nobody has been convinced that it is that car and that it’s worth $1.1M.

      Like 1
      • RayT Member

        I would think it’d take about 30 seconds to find out. I’d certainly want to do a personal inspection before coughing up a tenth of the asking price, and would want every possible bit of proof — including a test to see if any of Benson Ford’s DNA is on the steering wheel. — before expressing more than mild interest.

        I can see collectors staying away. The price strikes me as atrociously high.

        Magazines love this kind of stuff, and are often willing players when someone approaches them with a mega-zillion-dollar car. Been there, done that.

      • Dolphin Member

        I’m not going to be the one to find out the VIN, for all kinds of reasons including the fact that to ask the Ebay seller anything about the car or auction process someone needs to type in their name and phone number first or the query won’t be sent, and I won’t be doing that. Plus, if this seller really wanted people to know the VIN, they would have included it in the Ebay listing, where there is a specific line for it to be entered.

  6. Frankie

    Historically it’s a relevant car, some others say it’s just a mustang, etc…, I wouldn’t buy it just to let it sit, pay the insurance coverage you’d need and ship it to car shows/events . I like driving them, working on them.

  7. Zachary Pyle

    So many idiots that put the term “car guy” to shame….

    so then what’s the deal with Yenko 427 Chevelle? Or a 70 road runner 426 convertible? Only 3 of those? Let me lay down some knowledge….

    there only so few mustangs Holman Moody prepped, and only 3 that became an Indy500 pace car for 64, and that number can only go down. Cars can be melted and destroyed beyond repair. But you can’t time travel and build more. As a true car guy, I respect all muscle/pony/super cars

    If you don’t, then you’re just a guy that likes cars

    • Chebby

      You can like them and and respect them for what they are, and still not believe they’re worth a ridiculous price.

  8. Chuck Foster Chuck F 55chevy

    Put it in an auction, BJ for the high rollers, and you will see the market value. I seem to remember Ford made replicas, but they were White over blue coupes. but I’ve never seen one. I’m from Ft Wayne IN, and always had an affection for Indy Pace Car replicas, a 69 Camaro being the first one I saw at at age 12, I distinctly remember seeing one on the same day of driving by a Chrysler dealer with a bunch of winged Charger Daytonas in 69-70. Remember the white/gold Olds Cutlass Pace cars? I almost had a chance at a 1971 Dodge Challenger Pace car replica, one of 50 orange over white convertibles ordered by 5 Indy area Dodge dealers, the year Dodge dealer Eldon Palmer pace car driver ran into the stands with the pace car.

  9. Dutch 1960

    The font makes me cringe, I am surprised one could get it so wrong when the photos of the correct way for it to look are everywhere. For seven figures, get it right, already!

    Like 1
    • Jamie Palmer Jamie Staff

      Thanks, Dutch, I’m glad it’s not just me.

      • al8apex

        ditto, makes me wonder what else they scrimped on

      • ninja3000

        Seriously! One would think that half of this car’s historic appeal is the pace car “appearance,” yes?

        Like 1
  10. Prowler

    A perfect candidate for the more money than brains club in the valley of the sun.
    I’m sure you will see it in January at you know what auction……this is just hyping it up to get the Ford guys doing thier due diligence pre. Auction
    If you’re pockets are deep enough and you are a blue oval fan….this is pretty rare air….not a Shelby or Boss 9….but a big piece of Mustang and Indy history

    Like 1
  11. stillrunners stillrunners Member

    I’m in for that D-500 Dodge pace car – the first in a line of D-500’s which I own a 1956….but only the earlier one paced the 500 – with a factory aluminum manifold…..anyone know of another pace car motor that came with one ?

  12. Woodie Man

    Not happening. Not today…not tomorrow. Even the ones with more money than brains won’t bite! You heard it here! :) But man….people are crazy.

    Like 1
  13. Badnikl

    http://wichita.craigslist.org/cto/5632811692.html
    1964 1/2 Ford Mustang Convertible it has a good running (1964)260 V8 motor with a 3 speed manual transmission-$10,000.00

    Not mine, but some are out there

    Like 1

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