S Code Fastback: 1968 Ford 4-Speed Mustang

Here’s an interesting find, it’s a 1968 Ford Mustang fastback “S” code. You know, the fundamental for a Bullitt Mustang. It has a Marti report which backs up the claim and it appears to have all of the components, but as usual, there’s a bit more to the story than initially appears. Located in Santa Fe, New Mexico, this Mustang is available here on eBay for a current bid of  $13,950, reserve not yet met.

This is another listing of few words but we are told that it is, “An amazing restoration project.” Interestingly, it is a lifelong New Mexico car and was originally painted code “T” or Ford Candy Apple Red of which it still bears some resemblance. As opposed to a southwest sunburned effect, this Mustang looks more like it was painted with a brush. The tan trunk lid is probably a replacement due to some long-ago mishap. The front and rear bumper, along with the front roll pan and some of the trim, are gone but what’s left of the body, in typical southwest fashion, doesn’t appear to be significantly corroded. There is some light surface rust here and there but that’s about it. It’s a landscape of dents and scrapes, however.

The interior is pretty well trashed. In spite of the Marti report’s claim of red vinyl interior, there is what looks like a blue bucket seat in the driver’s seat location, though the warped door card is, in fact, red vinyl. The instrument panel is gone, lots of loose wiring is visible and there is a radiator haphazardly dumped into the passenger seat position. The photo was snapped with some sort of a cover over the outside of the car so it, and the angle chosen, doesn’t portray a thorough image of the interior. From this vantage point, it looks like a write-off.

Under the hood, we have a “youstabee”. Yes, this is an S code mustang, that used to harbor a 325 gross HP 390 CI, V8 engine. So instead of it being an S code, it now used to be an S code but has lost its S. Not to worry, the seller indicates that he has a 390 CI engine and a four-speed manual transmission that is included in the sale. Heaven only knows the engine’s origin or condition, an inquiry would have to be made. And no, there is no image of either driveline component included.

With images of $3.4 M ’68 Mustangs dancing through his head, perhaps the seller assumes that will be the draw for this car. It could be, I suppose but the Bullitt Mustang has been done to death. It would be nice to restore this example back to some semblance of its original condition, just to preserve it. You could even install white sidewall tires as the Marti Report suggests this Mustang used to have.  The lack of the original engine will adversely affect this Ford’s value somewhat but having a proper engine for it will improve that situation somewhat. Since the provenance of the included engine, not to mention its condition, is unknown, the risk is substantial, at least at this price point. The auction ends on Thursday, May 21st and it’s hard to say what the reserve is. There is one bid, hmmm… Well, at the current bid for a car with so little disclosure, the bidder can knock themselves out. This one seems a bit shakey, what do you think?

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  1. ccrvtt

    “…used to be an S code but has lost it’s ‘S’..”

    Just like the next owner will do trying to restore this mess.

    Like 13
    • Ike Onick

      Yep. Pretty good idea what the “S” stands for.

      Like 9
  2. JohnfromSC

    This will probably end up going for stupid money, so the chance that it returns to it’s marti configuration are slim. But if you want a bullett restomod, there are better ways to do it today that are cheaper and very high quality. Most everyone wanting a Bullett could care less about matching numbers. A local expert down here finds high quality coupes with little rust, chops off the roof and other necessary nods, and correctly welds in a donor fastback top and correct pieces. A good 390 engine is a bargain, and just requires knowledge to be rebuilt correctly. You can put in a 5 or 6 speed tremec, 4 modern discs at the corners, better suspension, etc , all for a fraction of what it would cost to do it, versus starting with this fastback car as a basis.

    Like 9
  3. Mike W H

    There’s a company called Revology that would build this into an awesome restomod for around $280,000. They are to Mustangs what Singer is to Porsche. You bring the body.

    And as long as there is a valid drivers license (or not) in every Baby Boomer’s hand, the Bullitt Mustang will never be considered “done to death”.

    Bullitt style is exactly what I would do with any ’68 Fastback. Now, what is “done to death” are “Eleanor” clones.

  4. Rick Haner

    just curious where anyone is finding donor fast back tops these days???

    Like 1
  5. Jon

    Stupid money. No thank u.

  6. Eric B

    I like the mention of just restoring it back to original as opposed to yet another Bullitt. Or God forbid, Eleanor. I hope that fad has gone away. As far as grafting a fastback body on to a coupe goes; If you don’t have the skills to do that yourself, do you realize how much that would cost? Even if you do, the amount of time. And when it’s all said and done, you’ll have a fastback that the marti report shows was originally a coupe, which will hurt it’s value. I would never buy one, wondering if the work was done correctly, etc. Either way you do it, they’re expensive.

    Like 3
  7. Johnny

    $14,150 and still going–hahaha. Someone sure has money to waste on one it will take awhile to drive. I started looking at some old cars last night out west . Better shape and some driveable or with a little work. Could be driven–for less and in alot better shape. Looking around can save yourself time ,money and aggervation. I wonder what my 66 Fairlane Gt with a really nice body ==less running gear would be worth? I know I wouldn,t pay pay a fortune for something I could not drive off in. Plus the value isn,t gonna last forever. I,ll keep mine because I,m gonna put another 390 back in it this summer and enjoy it. What is their on this mustang that does not need replaced? I t looks shot to me. Even if you did make it looking brand new. Look at the money you,d have in it. Look at these cars people have alot tied in them.That has been for sale for along tome. Hell get one in better shape and drive it and enjoy it.

  8. TimM

    At least here’s a car asking not what I call stupid money but it definitely is somewhat crazy!!! The owner does however claim to have the original motor and transmission!!! That makes this car what it is claimed to be!!

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