Want something in the Mustang line that not many others will have, but don’t want to spend insane money for it? A 1968 GT/CS (GT California Special) might be your cup of tea. But you’re not going to get the chance often, so that’s why the car here on ebay might tempt you. The price seems steep at an ask of $108,000, but when you consider the rarity and the fact that this one is more special than most—it’s got an S-code 390 under the hood—you might see your way to dropping a huge mound of cash to secure it. You’ll have to trailer it from Acworth, GA should you get the win.
When is a GT not a GT? In some cases, when it’s a GT/CS (GT California Special). This was a Southern California dealer special available in the 1968 year on the Mustang Coupe bodystyle. Thing is, a GT/CS didn’t have to be a GT—some were six-cylinders, and others had the 2-bbl V8. Only those ordered with the GT option group were truly Mustang GTs. But that didn’t matter in the face of what every GT/CS had, which was Shelby exterior appointments including Thunderbird-style taillights as well as bodyside scoops on the rear fenders and a ducktail spoiler. There was also California Special script lettering on the rear quarters and other callouts on the brake scoops, a blacked-out grille, and fog lights. The hood was the type with twist-style locks. The car in question is described as a “triple GT” because it is a GT/CS, it has a 390, and it has the optional GT package.
This particular car has many desirable qualities, As was said, it has a monster 390 under the hood. It’s also coded in the ad as a survivor, though there’s no clear definition of what that is except that it has factory-pattern overspray and other indications of being an untouched original. It has had a top-side repaint, disqualifying it for full survivor status. For my taste, the paragraphs where this is described are pretty heavy-handed (and repetitive), so I’d just take this as a starting point and make sure I had an expert eyeball the car before making the deal. Just one example of where hype might take over reason in this ad: the claim that the GT/CS was the first limited special edition Mustang ever produced by Ford. What about the Shelby itself? How about the 1966 Sprint Special? Maybe we’re parsing the verb here on every word (what is limited, what is a special edition), but it’s necessary to cut through the hyperbole of this ad, it would seem.
I remember seeing one of these for sale at a classic Mustang repair shop twenty years ago. I think it was $25,000 they were asking. It was every bit as nice as this car, but that’s what time has done to values. While a regular Mustang has maybe doubled in that time, this one’s gone up by a factor of four. Better get your Mustang special edition—whichever one you’re craving—before things go even more crazy. On the other hand, GT 350s used to be $30K and now they’re ten times that, so maybe that ship has sailed for us normal folks.
Some considerations about this Thoroughbred and No Exceptions taken ! will see.
Good write-up Brian. I agree with your analysis. Looks like a very nice and desirable Mustang.
I don’t follow prices on these, but if you were to have asked me blind, my guess would have been no where near the ask. And the ebay ad: I often complain about ads with too little info and too few pics; as Brian notes, this one is the opposite. It’s too long, repetitive, loaded with hyperbole, and makes stretches to try to pump up its desirability (it doesn’t really matter to me that the Terlingua cars were the same color). Quite a few pics but I didn’t see a Marti report (?).
Seems like a nice original car, but not completely original?? Not sure where that makes the car ‘land’.
Thanks for the thumbs-up, Bob in TN.
Had a chance in ‘81 to buy one S code 4 speed red black vinyl top (with a dealer 6pack setup in the trunk lol) $2500 dad said used too much gas lol….not the point
Man wanted to trade even his ’68 GT 500 for my ’55 TBird I had advertised for $1955 in 1974 … had fuzzy steering wheel and dice hanging from the mirror … my (ex)wife said she didn’t want another Mustang, especially one from the South Side … we’ve all had some that got away …
You can find nice California Specials for under $40k without difficulty. I understand the rarity of the car, but I question the desirability, especially at $108k. that being said, nice car, but…
How about a very similar example to help reveal why these 390GT/CS vehicles are experiencing a major price correction as we speak. True that you can still find a “regular” GT/CS Mustang in driver condition with the lack luster 289-2V powertrain for $40K. So follow me through on this: It is also true that I can find loads of Porsche 914-4s with the lack luster 4 cylinder engines for under $25K. But the fact that I can find loads of 914-4s at a cheap price has no bearing on what I am going to have to pay if I want to buy a performance oriented Porsche 914-6! Same body, different motor. If I want the higher performance 6 cyl engine in the 914 I am going to have to pay 4Xs to 5Xs more than the base 4 cyl and pull out $100K+ of my pocket to do it. WHY? Because a 914-6 is not the same as a 914-4, even though the street versions look exactly the same except for whats under the hood and some suspension tweaks. Initially 914-6 prices lagged because of the 914-4 lower price points but that has long disappeared as collectors came to recognize the 914-6 as a performance Porsche standing on its own merits separate of the 4cyl model. A base 289-2V Mustang having the GT/CS appearance option versus a High Performance 390GT Mustang that also has the GT/CS appearance package may look the same but are two completely different vehicles. One is a desirable “Muscle Car” that looks like a Shelby with performance and handling to match! The other is just a “poser”, looks like something its not. If it looks like a Shelby, I want it to go like a Shelby, and the 390GT/CS is just that! How about this example since it hits right over the target: Two 70 Fastbacks sitting side by side, they look identical: same color, miles, and condition. But one has a 428-4V and the other a 302-4V. Would you expect them to be similarly price based on the similar looks or expect the 428 to have a lot more value? Now there are those that will be perfectly happy to drive a GT/CS with a 289-2V for $40K to $60K because they really are not into muscle cars as much as they just want a really cool looking car to drive and rather save the money that a performance version costs. But with so few decent 390GT of any body style now remaining (coupe/fastback/convertible), and the 1968 390GT/CS being possibly the rarest of them all and the only one with the Shelby magic, I think it is going to rise near to or be at the top of the Mustang 390GT heap!
Not to mention the Porsche 916 – not the 914-6 … a stand-alone model with a hard top – as opposed to the 914’s targa – it was designed for 1972 but only eleven were built … it was 250 lbs lighter, used the same engine as the 911, was faster than a 911 at 145mph, and cost $14k then – $103k in today’s dollars – now over a million if you can find someone willing to sell theirs – and only one was shipped to the US … the car was cancelled as it posed a threat to the top model 911 …
I want some of what the seller’s smoking.
I think the seller binge watched the Mecum Kissimmee auction for the last week. Good luck.
or even better yet, maybe the seller went to Kissimmee and was bidding on or selling cars. For anyone who did not, they might not be aware that Mecum had a banner sale there starting off this year with 2,954 cars sold, total sales of $217M, at a crazy high 90% sale rate! Collector car values continue to explode and outpace Gold and Silver as the new precious metal LOL. So what it would tell me about anyone that either watched or went to Kissimmee this year is that they would be more in tune with the actual collector car market than someone who did not and would be more likely to have the keen sense to spot previously undervalued cars such as the 390GT/CS which is the subject of this post.
As others have stated, nice Mustang but 105k?! There was one in my neighborhood, a 68 with 390 as well, light yellow and black, he sold it this past September for (?), the asking price was 54k, which I thought was high, despite being unfamiliar with these cars. The car was every bit as nice (as the one shown here) with long ownership history (1981), all docs including original sales literature, pictures going back to when car was new, detailed log of all work performed with receipts and matching #’s. I just don’t see where the owner of this one gets 105 at?
Maybe you could expound a bit on the “one in your neighborhood” that you are referring to. My first hunch is that it was just a standard coupe, NOT a GT/CS? That means they are not the same and cannot be compared in sales price any more than you use a regular base Mustang price to figure out what you should pay for a BOSS 302 or 429. Following the reasoning that adding the GT/CS package to a plain jane Mustang generally doubles its value, (the Mustang you saw at $54KX2=108) and funny enough already there! Now for additional value adds that we don’t even need, lets continue. My Second hunch is that it was the more prevalent 390-2V rather than the scarce GT390-4V High output engine, another big value increaser. My third hunch is that it also lacked the GT package which is a whole separate package from the GT390 motor, again another value add. My fourth hunch is that while you say it visually appeared every bit as nice as this one, this one undercarriage proves it is probably in the top 5% of the nicest unrestored Mustangs and I would have to actually see pictures of the Mustangs undercarriage you reference to believe it was also in the top 5% like this one. That kind of outstanding originality adds a tremendous amount of value to any car, maybe a 20% bump so when your talking a big block very special Mustang that could add onother $20K because finding Mustangs this crazy original clean only come up once evey few years.
Only takes one buyer i guess 🤷 This seems like a true CS with the autoloader trans for easy cruising the shoreline. ⛱️
Just get a Marti report to verify the car and hence the premium. A few items unusual but may just be an issue with restoration, other than not having the original engine. Rear badges not in the correct position, “triple GT” big block should have chrome 12 slot wheels not just trim rings in chrome. No badges should be in the grille, and a couple of other nuances.
Question: wouldn’t a GT come with the front tower brace (some call them Monte Carlo bars)?
cheers,
bt
The taillights are ’65 Thunderbird units, but the turn signals lack the T-Bird’s sequential operation.
Very nice Mustang. Not $108,000 nice, though.
Correct, and the side scopes were not functional.
My first car was a GT/CS, double black, S code 390 and 4 speed, one of two. In 1973 that cost a whopping $650. Sold it a year later for $1,200, and thought I was the most clever 17 year old on the planet.
This is a nice car, but with that colour combination and auto trans it’s worth a bit more than half the asking price. Settle down Bevis.
GT/CS had the 65 T-Bird tail lite buckets and lenses but were not sequential like the T-Birds. Some were modified with the sequential relays to make them sequential like the Shelbys were.
I always wanted one but not at $108,000
I don’t think that this Mustang is even close to the asking price.
“25 times more rare than a Boss 429”. Ok, let’s ask 10 car collectors what they would rather have. I think all of you guys know the answer. The person who wrote the description is beating on his chest a bit too hard.
Fun to have respectful debates here on this forum. I agree with you that anyone should have enough smarts to take a $350K Boss 429 over a $100K 390GT Mustang IF hypothetically being given a choice between one of those cars for free. But I think you missed the sellers intended point being made there. It was not that the 390GT/CS is better or more desirable than a Boss 429 BUT it is a great alternative if you can not afford the Boss 429 yet want something super special, unique, and powerful. We all know the Boss 429 and early Shelbys have rocketed off the launch pad and are roaring off into the pricing stratosphere which is leaving a big vacuum behind as “regular car guys” who can not afford those $350K+ Mustangs step back to find the next rocketship about to leave the launch pad. It is about finding something today that is very special yet still affordable. And nothing I see is better poised to get pulled up in price by the rising early Shelby GT500 prices than these undervalued rare 390GT/CS. The point being made was a wakeup call, not beat on the chest moment saying these are better. The 390GT/CS have been undervalued because they are so rare and far between in sales that no one knows how to value them. 69 and 70 Boss 429 values are super easy because there are so many of them around and sold there is tons of sales data to go by. The only thing people have to reference on the 390GT/CS are small block GT/CS (which represent 99.9% of the sales) and that is NOT THE SAME. First and foremost you have to keep the main thing the main thing, and the main thing with any bonafied muscle car is the drivetrain (GT390). It adds confusion when a car has TWO main things such as this 390GT/CS. Giving credence to the wrong main thing leads to a wrong evaluation point. I think an example to study might be to look at something like the Hemi convertible Cuda. No one has any problem figuring out those two main things work together, to compliment which radically increase the cars value. You can’t use the lower price point of a 318-2V convertible sale to drive the price point of a Hemi convertible down LOL. But that is what is being done with the 390GT/CS. Proof is nright here in other postings pointing to the lower 289-2V GT/CS sale prices to pull the 390GT powertrain premium down. Lets apply some logic here: Since the GT/CS Shelby appearance package is known to raise by double or triple the value of what would otherwise be a plain jane 289-2V, then it MUST ALSO add significantly to the value of a more rare and desirable GT390 Mustang, not lower it. Question is should it double or triple the value as it does a small block? I see and fully expect 390GT/CS prices to drastically rise to price points between a regular 390GT and a Shelby GT500 which is where they actually belong as they are far more than just a 390GT Mustang and just shy of a Shelby. Interested to hear factual reasons from previous posters why a 1968 390GT/CS should be priced less than a regular 390GT that doesn’t have the Shelby appearance packge?
When these came out they were typically referred to as a “girl’s car”, a Shelby-styled Mustang. Funny thing is I dated a woman who had one in Gulfstream Aqua… go figure!
Yep, funny how things change. We used to say the same thing about the 1971 Cuda, a chick car! Back in the early 70s you could not give a 1971 Cuda away as no one liked the billboard side sticker (they looked ridiculous) or the fender gills or the chopped up front grill, chopped up tail lights, etc. We only wanted the 1970 Cudas with the big gaping open mean looking front grill and clean painted muscular slab sides. Sales for the 71 Cuda fell off a cliff and why the 72 Cuda dropped all the “gingerbread” stuff and went back to looking exactly like a 70. Today the 71 Cudas are all the rage, funny how things change! Regarding the Mustang GT/CS, back then we called them the “poor-mans Shelby”. Today, if you want a 68 Shelby this 68 GT390 GT/CS has nearly all the performance and Shelby looks but at half the price so maybe it still is the poor-mans Shelby LOL.
This is a reference level vehicle a true survivor grade vehicle. Meaning If you wanted to see how they were built this would certainly be one to look at and study. Although, missing a few key parts those can be located either as repop or NOS. This vehicle would deserve NOS parts detailing. The rarity of a 390 S code in a CA Special is quite unique so the ask is not really out of the question. If this was a 428 CJ you would expect to add another 25 – 30% to the asking price. The market has significantly shifted the past 18 months and premium cars are getting premium prices. The buying power of the USD has dropped significantly this past 2 years. So it is no wonder people are asking significantly higher for their assets. If this were an average CA Special with a C code or even a J code then $25 – 40K is more in alignment with current market. Unmolested original cars are garnering a premium over an “over restored” car at the moment that is certainly the trend in the market. Also consider if this was a rough car it would certainly garner close to $40K add the tariff of a full restoration and you are at the $100K mark. So there you have the $108 number fiver or take 10%.
I agree with you on the price point being right on. Appears some are fixated on the assumption that being a GT/CS somehow locks it into an “imaginary” value limiting factor rather than unlocking increased value potential. Sometimes cars go under the wire as undervalued until they are not, and the 390GT/CS is on that cusp. What seems to be overlooked is that just the stand alone GT/CS Shelby appearance package when added to an otherwise very plain jane standard non-performance 289-2V Mustang coupe actually doubles to triples its value. Let that sink in and think about that! This kind of vehicle value increase would normally be reserved for major performance oriented options. NOW, lets look at this vehicle: There is no disputing that cramming a GT390-4V motor with 335HP / 427 lbs torque into a 1968 Mustang qualifies it as a top tier bonafide muscle car. When dealing with muscle cars, the main feature is always the powertrain. SO, the main feature guiding the price point on this Mustang is that it is a bonafide 390GT Mustang which are extremely hard to find, in high demand and even clones sell for $100K+ especially if painted dark green with American mags (Bullitt clones) or some Shelby looking aftermarket goody-bits (Elinore clones) are added to it LOL. Now following the fact that the GT/CS stand alone Shelby appearance option will double to triple the value of any plain jane 289-2V Mustang coupe, how much more so when added to a real GT390 Mustang? The value of this particular Mustang should be between that of a top level 1968 GT390 Mustang or even clone ($100K+) and a 1968 Shelby GT500 ($225K) being this vehicle is a hybrid mixture of the two, a top tier incredible performance Mustang that had Shelby’s hand in the design creating one of the best performing / looking Mustangs of all time fully documented right from the factory. I think a car like this will be $125K to $175K shortly so you could easily make the case that it is an excellent deal at the given asking price being much more than just a GT390 yet currently priced at just the GT390 price point and the real deal, not a clone. And I did not even bring in all the value add factors about the excellent original condition, being GT, etc..
Read the fine print of the Ebay ad. It is date coded correct but not the original 390 from the factory. Less than 75k miles so why a different engine?
Nice GT/CS but worth $108k?, I don’t know. How about a candy red GT/CS 390 4 SPEED car. Mine is now for sale for $65k.
This is way more reasonable, $55-65K for Mark’s 4 speed CS. Mine was a C code from Milpitas/SJ factory, with PS, PDB, Lime Gold repainted Royal Maroon. Sold it in 2009 for 13.5K.
Hope to buy it back when current owner is ready to sell (DAVE, are you seeing this?)… -Mike
Mine was repainted in the 80’s, long before I bought it. I have all prior owners except for one and original owner documentation. It could use a new interior, but the 289, was actually a 302 block with 289 heads. C4 trans. Research that, it’s real. I’m a hot rodder at heart. I updated to triple core radiator, hipo water pump and fuel pump, Edelbrock heads and intake, Holley 650 old school double pumper, shorty headers, JBA side outlet exhaust, and a 2” street/strip suspension drop with original look 15×8 rims and 4 wheel stainless disc brakes. Yeah, it runs! All original parts on the shelf. I’m thinking about listing it at $40k. Seems I’m in the ballpark? New interior $50k?
No way at 108K. Nice GT/CS for 30-40K and an S code might add 10K. Seller is smoking funny weeds.
No disrespect, but I am going to apply that 10% add for a big block performance engine to see how that “theory” plays out for me. Just looked up a 1970 Barracuda and checked the price having a standard 318c.i. 2V engine. Nada says $23,000 average retail price. Now if I add + 10% or $2,300 extra for a 440c.i. U code performance motor that gives me a $25,300 target price point. Just checked ebay and it seems that figure is a full $100K shy of what it really takes to actually be able to BUY one LOL. Regarding this 390GT/CS as the subject matter, lets try something else to see if we can bring this home to find a better gage on how much a BIG BLOCK bump in price we get over a small block when applied to the Mustang world. Lets look at the measurable price difference between a 1968 Shelby GT350 (small block) and a 68 GT500 (BIG block)? Appears there is about a $100K premium for the big block. That is more like a 80% bump to the same exact vehicle for the performance engine upgrade alone. Yes, I know the GT500 is a 428, but the 428 is only rated at 10 horsepower more than a 390 as it is basically a hopped-up version of the 390, so you can adjust accordingly. This is a great indicator as it applies directly to the GT/CS small block VS 390GT/CS big block and a truer real world indicator of how much the bigger engines are valued in the early Mustangs. Now if you took a $100K 390GT Mustang and added a 10% bump for the GT/CS Shelby appearance option, you might be closer to being able to apply some kind of a mathematical formula to the price. Funny how bringing together two of Fords best and most desirable Mustang features ever like the 1968 GT/CS and the 1968 GT390 into one vehicle is making people cross eyed as if they can only focus on one feature or the other as if they can not see both at one time. Like the old ink-blot test, what do you see? A GT/CS or a 390GT? Well its both LOL! The problem here is rarity. The big blocks just seldom come up and by DEFAULT everyone just goes straight to and looks at the GT/CS small block sales and they get stuck in that RUT! When they should FIRST be looking up GT390 sales and then come to realize how crazy rare finding a GT390 with a Shelby appearance kit on top of that really is! Hands down, these are far more rare and having Carrol Shelby design I believe will prove to be in the future more valuable than a regular 390GT fastback.
While they are unique, rare, and all the other accolades given here they are simply not that desirable. At least not yet. Anything is possible of course, but dropping that kind of money on a “possible” ROI is rather risky, there are other better known investments out there. That being said, my high school buddy in the summer of 1969 bought a 68 GT390 4 speed 390 convert, Highland Green, gold C stripe, black interior and a white top. the 390 was a bit if a dog, even with an intake upgrade and headers, but it was a great looking Mustang, even the Chevy and Mopar guys loved the way it looked!
Non-original motor, no smog equipment, repainted areas, “mostly” original
interior, This all adds up to a car that is NOT a true survivor.
So any interested parties in my 68 California Special 390GT with 4 speed for $65,000?
Mark,
Maybe put it on BaT (Bring A Trailer) with a minimum reserve you feel is worthy of letting her go. FYI, I just sold a Miata special edition with 4K miles and the market is soft right now, the Miata didnt bring as much as we thought it would. If your CS is the royal maroon car in your avatar, that’s my favorite color! That’s the color that Paul Newitt owns. Paul is the Editor/Creator of the Registry Book.
No the Royal Maroon car was my 69 Shelby GT500 with a 427 side oiler. Sold it last year. My GTCS is Candy Apple Red. I had my car on BAT but did not make reserve and high bidder purchased another car. If you have read articles on our GTCS cars you will see the big block cars are rare and will be pushing up on price. The big block GTCS (390 and 428) are rarer then shel y mustangs. Mine is 1 of 1 per Marti Report out of a total 111 390 4spd cars
Hi Mark, If it is as nice of a 390GT/CS as the one in this blog, I say you raise the price of it to a minimum of $115K (because its a 4sp and red, two additional desirable features) and start marketing it as the very rare car that it is, a 390GT and the rarest of the lot having incredible Shelby looks. While a regular GT/CS is an absolutely great “looking” Mustang, that has been its downfall as it was just lipstick on a 289-2V. But a GT390 is a super car so when you add the GT/CS option to it you now have something very special and near Shelby status. So, if you know what it is worth, do not settle for less. Muscle car prices are rising fast and these are just getting the attention they are due.