Among the most sought-after first-generation Mustangs is the 1969 Mach 1 R-Code, built with the mighty 428 Cobra Jet Ram Air V8. This example, listed here on eBay with a clean Michigan title, represents a rare opportunity to acquire an authentic R-Code fastback in its original Candy Apple Red with black vinyl interior. According to the seller, the car is confirmed by a Marti Report as a true R-Code Mustang and retains its inner spring tower reinforcement plates, an important authenticity marker.
While the original engine and transmission were separated from the car more than 40 years ago, what remains is a genuine R-Code Mach 1 fastback that still carries its factory identity. The seller emphasizes that this is a full restoration project, but for collectors who have the resources and vision, it offers tremendous investment potential.
From the factory, this Mach 1 was finished in Candy Apple Red (Paint Code T5) and optioned with Black Vinyl Bucket Seats (Trim Code 3AA). The interior will require a complete restoration, but the original Mach 1-specific details remain in place, ready to be refurbished.
The data plate confirms its pedigree: built at the Dearborn plant, ordered through the Detroit district, with the desirable 3.50 locking differential (Code S) and C6 automatic transmission (Code U). The VIN further validates its status: 9F02R164273 (9 = 1969 model year, F = Dearborn assembly, 02 = fastback body, R = 428 Cobra Jet).
The seller describes the body as a solid restoration foundation, but stresses that this is a project car and does not currently run or drive. The buyer will be starting with a blank canvas, either sourcing the correct Cobra Jet drivetrain for a factory-style restoration or building a custom high-performance setup that pays tribute to the car’s roots.
R-Code Mustangs remain among the most collectible muscle cars of the era. With its documentation, clean title, and original Candy Apple Red/black vinyl color combination, this example is the kind of project serious enthusiasts search for.
Would you restore this Mach 1 back to factory-correct 428 CJ glory, or would you build a custom drivetrain worthy of its R-Code pedigree?
Oh my, this was somebody’s pride and joy. Had those beautiful flairs put on and paint. Oh don’t forget the graphics. The Keystone classic wheels and modified body late 70’s? Going to be a big project, but it was a contender back in the day. Best of luck to the new owner. Don’t know about that radio, but I’ll bet the dash was cut up a bit for fitment. But it was an old Mustang.
It is an old Mustang and should remain that way, however restored to as close to showroom condition as possible. To use a Coyote and Tremec with all of the other upgrades would make it like a new Mustang. If that’s what you want save yourself a lot of time and get a new one, leave this for the restoration it deserves.
In its heyday it would have been a sight to see, that day is long gone. The engine, transmission, shaker and 9” rear end are all gone and the body is incredibly rusty. There are better places to spend $28,500 than what is now a pile of junk.
Steve R
Steve R.: I completely agree with your assessment of this thing. I don’t have a feel for what it is worth, but I am sure it is not even in the same zip code as the asking price.
The price is now reduced to $24,500.
In addition to the missing drivetrain this car is also missing the correct 1969 Mach I and Cougar Eliminator only front seats. The seats in it now are 1970 seats.
$28,500 for this Bondo pile with no engine??
This car and the ad for it are nothing more than look what it used to be.
See, now this car is a different car than the 390 one. Looking similar was the last thing in common, and the 428 is without a doubt the most awesome motor Ford made. This was the car the big brother, or dad had( automatic for mom), and the hottest stick for 1969. rated at 335 HP, this motor was well over 400hp. It would do 0-60 in 5.5 sec. and the 1/4 mile at 14 flat at just over 100. Those 1/4 mile times improved when traction improved. 13s easy. People sure have chutzpah asking 5 figures for this drek.
I can’t imagine the thought process where someone would think that this car is a good deal. Dip the body to start with and it appears you will be replacing every panel. With all the missing parts there is nothing left but a data plate.
Dip the body and it will disappear in the solution!
It’s not a 428 anything if there’s no engine in it, 29k… I think not.
Tow that thing to the top of a hill, get the wheels straight, tie a belt to the steering wheel and the seat rails and send that heap on its last drag race.
…wait that is a waste of a perfectly good belt!
No engine, no transmission and little originality is left. Once the paint is gone, the real fun begins. Too much money for too little return. Taking the pictures with it being wet didn’t help the cause any.
My ex-boss had one like this in red. It was a 4 speed with the factory drag pack. (Optional oil cooler, 3.90 traction lock, etc.)
It was in concourse condition. But he drove it regularly. Whenever he saw me busting my butt and getting too “worked up” . He would through me the keys and say take a ride. Our dealership was at the base of the mountain from Lake Tahoe and the drive up there was 2 lane in each direction and very curvy. Middle of the day and .middle of the week there was very light traffic. Standing on the throttle and blasting around the corners was exilerating. Doing a couple of laps up and down brought my mental state back to earth. You would think that this was a good boss. He wasn’t, this was his ONLY redeeming feature. I think that when he threw me the keys. He was actually afraid that I would quit. As I was doing the work of three people and he knew it. I eventually did quit and he eventually committed suicide. (Kind of drank himself to it)
Sounds like you worked in Reno…
I have worked in Reno a couple of times. But the dealership I’m referring to is in Carson City.
Been there?
Yikes! Looks like a lot of mud on that ride. Cracks on every panel. Looks like the flares were made our of galvanized sheet metal? Guaranteed, someone will pick it up for the VIN / cowl tag & rebody it.
Well, we (I) can go a step further, like it or not, this is what is becoming of the classic car hobby. If this isn’t a blatant enough of an example, what do you think this dealer paid for this car? Maybe a grand? ANYTHING? Did nothing whatsoever to it, and ask, what, $28,500? ( maybe they’ll knock off the $500). All this tells me how low the hobby has sunk, and if someone does pay that, they’re no better than the seller. Money, just can’t have enough.
BTW, I realize the most sought after car is going to bring 5 figures today, and the 390 Mach 1 is gone for about $17,000 and was clearly a much better deal.
The 1969 390 Mach 1 was already bid to over $18,000 when the seller ended the auction early. The seller would have taken an offer substantially higher to end the auction early.
Steve R
What a heap of…………xxxx……….28 G’s……………wow.
But if you do buy it, it belongs to you, so you can do anything you want with it, even if the purists around here say different.
I thought I had seen it all. Even a Yugo for $49,999. Scary price for this heap.
You must have missed the “7,000 original mileage” 240Z from a few days ago with a $50,000 asking price.
Exorbitant asking prices are nothing new, me and my buddies laughing at overpriced Auto Trader ads in the early-1980’s was one of the things that made looking through it so fun. Another thing that hasn’t changed are people saying the hobby is dying and being ruined by greed. Neither of those are going away.
Steve R
Jack up the serial number and slide a Dynacorn ($17,500) body underneath. Half way home for less than $50K.