I’ll wait while you slip out to your shed or barn to see whether you’re sitting on a potential fortune. If a quick look reveals a First Generation Bronco, you could be laughing all the way to the bank. It is hard to believe that a vehicle that was largely unloved when new and was built in such low numbers that it barely justified its existence could now be a classic car “must-have.” However, that is the reality, and tidy examples can command some extraordinary prices. Take this 1970 Bronco as an example. It is a solid vehicle, but it isn’t perfect. It has minor rust problems, but its engine bay houses its original V8. It is located in Southlake, Texas, and has been listed for sale here on eBay. Bidding has reached $23,100, but this figure remains short of the reserve. If you are interested and wish to bypass the whole auction process, the owner offers a BIN option of $38,000.

The first thing to note about this Bronco is how original it appears to be. Somebody has replaced the rear bumper and added additional bars to the front, but otherwise, it’s pretty much how it would’ve looked when it rolled off the showroom floor. Nobody has cut the panels to fit larger wheels and tires, but the thing that strikes me is its lack of visible rust. If the vehicle has spent its life in Texas, that may account for it. The owner doesn’t claim that it is rust-free. He says it is present in the usual places, which means that the floors and front inner fenders may require attention. However, if it hasn’t progressed too far, returning it to a sound state could be easy and relatively inexpensive. It could be the lack of rust which the owner is using to justify his BIN figure. The panels have a few minor dings and bruises, but these are pretty limited for an older SUV. The glass looks good, and the overall impression is that this could be a straightforward restoration for its new owner.

Even the interior of this Bronco looks encouraging. It isn’t perfect, but it’s nowhere near as shredded as we’ve seen with some recent examples. The seats are upholstered in White vinyl, and while the photos are limited, they appear to be free from significant rips or physical damage. Before I spent a dime inside this classic, I would treat everything to a deep clean. The seats may respond positively to such treatment, and they may present well enough to eliminate the need to source replacement covers. An in-person inspection will reveal the truth, but it’s possible that the interior would be quite acceptable if the buyer wanted to retain the vehicle as an original survivor.

The owner supplies no engine photos, but we know that this Bronco features its numbers-matching 302ci V8 and a three-speed manual transmission. With 205hp available under the right foot, this combination makes the Bronco surprisingly sprightly for a vehicle of this type. A ¼-mile ET of 17-seconds may not seem that startling, but for a rugged off-roader, it is pretty impressive. The owner has recently fitted new tires, a new master cylinder, and a new coil. He says this classic runs and drives well, so the open road or the great outdoors are beckoning for the Bronco and its lucky new owner.

There’s an old saying that states that you get what you pay for. That would seem to be the case with this 1970 Bronco. We’ve seen our share of Bronco projects in recent times here at Barn Finds, and some of the prices and bidding could take your breath away. The BIN on this one is one of the highest we’ve seen for a First Generation Bronco project, but it also appears to be one of the best and most promising that has crossed our desks lately. Fully restored, there’s no reason why it can’t realize a value well north of $50,000 in the current classic market. If an in-person inspection reveals little rust, that could justify the price. So, did you want to go back out and check that shed again? You never know, but you may not have spotted a hidden Bronco the first time.