Disclosure: This site may receive compensation when you click on some links and make purchases.

Pony Hoarder: Mustang II Collection


At first glance, this listing for a 1978 Ford Mustang Mach I here on eBay seems pretty sedentary. A closer look, however, reveals the seller has a bit of an obsession with these cars and has several available that he’s happy to sell to you. In addition to what looks like a decent driver-quality Mach I, he also mentions another Mach I with a manual transmission; a ’78 with T-Tops, a manual transmission and some sharp mesh wheels; and a ’78 Cobra II with no transmission. Though they’ve been unloved for years, I’m predicting a bit of a comeback for the black sheep of the Mustang family. They’ve been popping up with increasingly regularity on craigslist and eBay (though some have been sent to the junkyard), and I wonder for how much longer you’ll be able to buy a genuine Cobra for short money. It may not ever be as popular as the Mustangs that came before or after it, but I hope to experience one of these first-hand in the not-too-distant future. Does anyone else think they’re staging a comeback?


  1. JW

    I think they are becoming more acceptable but increasing in value I’m skeptical on that. If I had the room I would pick up the 78 Cobra with no trans, with some tasteful modifications these can be fun cars.

    Like 0
    • Rocco

      If you pick the one up without a trans., I have the correct C-4 trans. with converter and block plate. Or if you want to build your own, I’ll separate the bell-housing, converter, & blockplate. Of course if it is a 4-speed car you might not want an auto.

      Like 0
      • JW

        Thanks for the offer Rocco but I really don’t have the room for another project and with him being in California with the cost of shipping and what he might want the car isn’t worth it.

        Like 0
      • Cassidy

        Where are you located and how much for the tranny? Is it rebuilt, if not, how many miles on it? Thanks!

        Like 0
      • Rocco

        @ Cassidy,
        I’m a tranny man, so I can rebuild it for you. I’m in Pensacola, FL. If you would rather have it rebuilt in your local town, I understand. I would like to get $400.00 for the tranny complete, including the proper flywheel, converter, bell-housing, block plate, & tranny with the proper linkage for the floor shifter. I’ll take it apart and make sure it is rebuild-able before you make a commitment, or if you want, I’ll rebuild it with Borg-Warner clutches & front band for an additional $450.00, a total of $850.00 + shipping. I’ve only ever sent one tranny out of town, so I don’t know the cost. The tranny weighs about 150lbs + crate, and the zip code is 32534 if that helps. I’ve been in business since 1976.
        You can look me up on the web. Genes Transmission in Pensacola, FL

        PS. My first name is Gene

        Like 0
  2. Dolphin Member

    I’m guessing that a few people picked these up years ago when they were real cheap to wait until they became ‘classic’ Mustangs. This fellow is probably trying to liquidate because they never became classics, or valuable.

    Like 0
  3. Jeff Staff

    I suppose it’s more of a comeback in the “likeability” department rather than sheer value. I personally feel like they might become a more acceptable classic to own, rather than a valuable car to invest in.

    Like 0
  4. Blindmarc

    In the 80’s I managed a restaurant in SoCal. A car club that met there had one of these in it. I got to drive it one night, and with a built 302 & 4 speed, it moved. He had slips showing it would run in the low 13’s. I like them.

    Like 0
  5. Rex Kahrs Rex Kahrs Member

    Heck yes these are appreciating! There’s probably $1500 in vintage Mustang parts that guy’s yard . 2K in scrap metal.

    Like 0
  6. BradL

    Wow! That many Mustang II’s must be worth what – 2 to 3 hundred dollars?

    Actually, I saw one on the road a few weeks ago and was excited to see it. It’s probably been 25 years since the last time.

    Like 0
  7. BradL

    Well, you edit and it drops your photo. Here it is:

    Like 0
  8. JW

    Actually if restored and modified tastefully they are pretty sharp cars. My wife bought a new 78 Cobra and the first thing I told her get rid of that billboard CCOBRA on the sides while leaving the stripes down the hood, tub it with some big fat meats in the back, shoe horn a 351W with dual exhaust and let it scream. She didn’t care for those ideas BUT she was always taking my modified 4×4’s and leaving me the Mustang … Figures.

    Like 0
    • Jeff Staff

      JW, I like the way you think! Exactly how I’d turn mine out, but I personally like the side graphics.

      Like 0
  9. berkeleystangs

    Holly wood needs to make a good movie with one on it like Eleanor in gone in 60 seconds or bullet then everyone needs one

    Like 0
  10. Harry

    My Father bought me a 1974 Mustang II as a graduation gift. It was a v6 with automatic. Was not a fast car but I run the heck out f it. Had it for about 5 years and traded it for a Ford Granada. (Got married, started a family). Wish I had that car today. Someday I hope to own one.

    Like 0

Leave A Comment

RULES: No profanity, politics, or personal attacks.

Become a member to add images to your comments.


Get new comment updates via email. Or subscribe without commenting.