Ford produced enough variants of its First Generation Mustang to make heads spin, but the Mach 1 remains one of the most iconic and desirable. Pristine examples can command impressive prices, and project candidates almost invariably generate significant interest when they hit the market. That makes the auction action on this 1970 Mach 1 unsurprising because it is a relatively solid and unmolested vehicle ripe for restoration. The seller has listed the Mustang here on eBay in Allen, Texas. Spirited bidding has pushed the price to $10,600, which is below the reserve.

Ford’s acknowledged affordable high-performance options pack for its First Generation Mustang had been the GT until the company unveiled the Mach 1 for the 1969 model year. The Mach 1 brought more extrovert styling cues and a range of engine choices that suited most tastes. It single-handedly sounded the death knell for the GT with a sales total of 72,458 vehicles versus the GT’s tally of 5,396 during the first production year. The company discontinued the GT at the end of 1969, and the badge would eventually return in 1982. The only limiting factor for Mach 1 buyers was that, unlike the GT, it was a Fastback-only proposition. This Mach 1 rolled off the Metuchen Assembly production line in Edison, New Jersey, in June 1970. The first owner ordered it in Calypso Coral, with this car 1-of-3,569 Mach 1s to wear that shade. Its history is unclear, although the photos confirm that it requires total restoration. The paint is tired, many chrome pieces require a trip to the platers, and there is rust requiring attention. However, the problems are surprisingly minor, suggesting the dry climate has done an admirable job preserving the classic steel. The underside shots reveal a few areas of steel penetration that might be patchable because most of the floor pans, rails, and torque boxes look sound. The lower exterior extremities are also pretty clean, and the only significant problem is a couple of areas of Bondo that are making a bid for freedom. We can only guess what is hiding below, but bracing to replace the impacted panels might be wise. The car retains its Sport Slats and rear spoiler as per the included Marti Report, but this doesn’t reveal whether the Magnum 500 wheels are original or a later addition. The tinted glass is in good order, and the overall impression is that whipping the Mustang’s panels and paint into shape should be relatively straightforward.

This Mustang’s interior is standard Mach 1 fare trimmed in Black Knit vinyl. It is complete and unmolested, with the factory AM radio occupying its rightful place. To recapture its glory days, a complete retrim is required, which is a satisfying task many would tackle in a home workshop utilizing one of the excellent kits that flood the market. The shopping list might extend beyond the upholstery to items like gauge lenses, a console lid, and some plastic components, but locating the required items shouldn’t take much time or effort. The buyer misses out on features like a factory tachometer, but the first owner’s decision to order the car with air conditioning is a welcome bonus.

The seller supplies little information on this Mustang’s history or mechanical health, although they confirm it is a numbers-matching classic. The engine bay houses the M-Code 351ci V8, with the first owner adding a three-speed automatic transmission and power assistance for the steering and front disc brakes. The M-Code would have delivered 300hp and 380 ft/lbs of torque under the driver’s right foot. Ford released more potent Mustangs in 1970, but this car’s ability to cover the ¼-mile in 14.9 seconds and hit 134mph confirmed it was no slowcoach. The photos suggest it might have been many years since this car fired a shot in anger, and budgeting for a drivetrain rebuild would be wise. However, as the figures show, the results should justify the cost and effort once this Mach 1 returns to its rightful place on our roads.

It is common to find First Generation Mustang project candidates with significant rust issues, but this 1970 Mach 1 seems to have avoided the worst of those problems. Completely dismantling the car would be the best way to achieve a high-end result, and I suspect that will probably be the path chosen by the new owner. It has attracted thirty-one bids, proving that people are willing to give it a red-hot go. Are you tempted to make a play for this classic, or would you prefer a turnkey version?