Ford Mustang V8 1964 - 2010 Market Review

Date: 03.06.2024

It is seven years since we took a hard look at what it costs to own various versions of the Ford Mustang, and a lot has changed. Now with early cars sitting 60 years of age and the market very different from the way it looked in 2017, the time right for another peek

Ford Mustang V8/Fastback/GT-390 1964-68

Early Mustangs are the easiest versions to find in Australia. A, C and D Code cars with 289 or 302 cubic inch V8s are always for sale, however, easy availability hasn’t diminished demand or curtailed prices.

Values across the board since 2017 have effectively doubled. Even after recovering from the 2021-22 COVID-19 price spike which saw some silly records set, the cost of desirable versions remains strong and stable.

Genuine K Code cars with four-speed transmission and 6.4-litre GT390 models remain popular and scarce. Our market survey found just a few K Code coupes and none of the 1965-66 Fastbacks which have been disappearing to become Shelby GT350 clones.

Reduced demand for ‘Eleanor’ donor cars has helped moderate the prices of GT390 Fastback GTs. However, there remains the temptation to paint cars in Highland Green to create a ‘Bullitt’ movie tribute and ruin their authenticity.

Mustang V8 1964-68 $65,695 [55] 

Mustang V8 Fastback 1965-66 $98,385 [13] 

Mustang V8 K Code $94,635 [3] 

Mustang V8 Fastback 1967-68 $114,950 [13] 

Mustang GT/GTA390 1967-68 $135,675 [8]

Ford Mustang/Mach 1/Cobra-Jet/Boss 302 1969-73

The bigger and more imposing Mustang launched for 1969 would play host to a new group of performance-oriented versions. New for 1969 was the Mach 1, with 4.9 or 5.8-litre engines, bold stripes and a distinctive grille.

Mach 1s were popular new-car imports to Australia and numbers have continued to swell thanks to private arrivals. Restyled 1971 cars with their fashionable, near horizontal Sports Back are less expensive than 1969-70 Mach 1s or Boss 302. The small-block Boss offers great buying at prices that haven’t climbed as far proportionately as the Mach 1s.

Extra space between the shock towers provided space for larger engines, including Ford’s Nascar-spec 7.0-litre as installed in the 1970 Boss 429.

A more affordable way to own a 7.0-litre Mustang though is to find a CJ428 Cobra Jet,
or the more desirable but also more expensive Super Cobra Jet.

Mustang V8 1969-73 $52,225 [14] 

Mustang Mach 1 1969-70 $95,440 [10]

Mustang Mach 1 1971-73 $68,990 [10] 

Mach 1 Cobra Jet $169,000 [2]

Boss 302 $143,745[4]

Ford Mustang 1993-2010

These are the Mustangs with work to do before matching the market performance of earlier models. Pre-2004 cars lost huge chunks of value when new and have been scrambling ever since to recover.

Some 2005-10 GTs maintain high asking prices, but it is hard to see value in a 15-year-old RHD converted car at $70,000 when newer ones come with a bit of factory warranty remaining and are cheaper.

The 2007-10 versions of the KR500 and Super Snake are being sold in the USA at prices that confirm their collector appeal. Converting those amounts to AUD and adding the various costs that accompany imported vehicles also mirror the prices being sought here.

Australia’s problem though is our refusal to fully register low-volume LHD vehicles, instead insisting on destroying their authenticity via the RHD conversion process. Understandably, not a lot of KRs or Snakes are being imported and fewer still will be used on public roads.

Mustang V8 Coupe 1993-98 $21,725[8] 

Cobra Coupe 1999-2002 $38,355[8] 

Mustang GT Coupe 2005-09  $73,600 [5] 

Shelby GT500/Saleen 2006-09 $118,895 [10]

Super Snake/500KR 2007-10 $163,750[2]

Unique Cars magazine Value Guides

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