Fastback prices – enough already!

Ever since Nicholas Cage drove ‘Eleanor’, the modified 1967 Mustang fastback, in ‘Gone in 60 Seconds’ the market price of the 2+2 bodystyle has sky-rocketed. Several companies have even cropped up specializing in selling fully restored and modified Eleanor Mustangs. Over the years these companies have scoured eBay listings, classifieds, and approached owners directly to consume the available inventory of fastback Mustangs. As a result the supply has nearly dwindled and demand continue to rise.

Before Angelina Jolie was associated with the car one could usually find fastbacks in fair condition priced a couple thousand dollars above a coupe bodystyle in comparable condition. Nowadays the few fastbacks that make it to a public classifieds listing are in the range of $8000-$10,000 above coupe pricing. It is absolutely ridiculous and unfortunately there is no end in sight because deep-pocketed buyers are willing to pay these prices. After all, what is $10,000 when you may be spending another $60,000 on a full Eleanor-like restoration?

Many of us who ever had hopes of someday owning a classic Mustang fastback have since realized these dreams will remain just that. Just take a look at these two examples of recent fastbacks listed on craigslist.com

1967 Mustang GT Fastback “S” code 4-speed – $22500
Factory “S” code GT four-speed with a 390 V-8, disc brakes, and 9″ positraction rear end. Hit in the front in 1973 and parked since then. Still has the original GT exhaust system with factory tips and all of the smog equipment. Highlander green with the deluxe black interior. Overhead console, original paint, no rust, needs complete restoration. Minor front frame damage. Not running. Very rare and desireable car.

1965 Mustang fastback V-8 4-speed – $11000
This car is a GT 350 clone. It has a 289 V-8 with a 4-barrel carburetor and a factory 4-speed transmission. It is a “C” code car, so it’s not a real GT.
It hit a pole dead center in 1978 and has been parked inside a warehouse ever since. There is no apparent damage to the car from the cowel on back except for the steering wheel and the glove box where the driver and his passenger hit upon impact. There is however some frame damage in front of the shock towers.