I have the chance to buy my old car, '65 K coupe, need input on value

[SAC69]

I have the opportunity to buy the '65 K coupe I sold approx 25 years ago. I bought it w/o an engine or trans and someone had installed an 8". I was advised the original K engine was blown. I rebuilt a 289 and installed it with a toploader (unk what the toploader came out of), I had it painted it black laquer (it was a Raven black car) and it was my daily driver while in college and sold it after I bought a new '85 GT. I've learned it's up for sale now and need some rational unbiased input on the car's value.

I have not seen it yet but have spoken with the seller and at length with someone who inspected it with the intention to buy (he passed on the purchase as it did not have a K engine.)

Description/problems:
The paint is faded.
There is an approx 3"x4" section of rust on the front lower passenger door.
There is a rust hole on the driver's door where the side mirror mounts.
There is minor surface rust on the froward pass floor and the w/s mldg has been removed, unk if there's a cowl or w/s seal issue.
The interior needs seats covers, carpet and headliner.
The engine was rebuilt (by me) approx 29 years ago, (hot cam, 10:1, .030 over, crank turned, etc) runs per the owner but is an old rebuild, it;s NOT a K engine, NOT a K trans, NOT a 9".
The car reportedly sat undriven for approx 15-19 in the interval since my sale.
I cut the dash back then for an stereo.
I cut the floor pan back then to install a Hurst Super Shifter III.
The current owner installed a new gas tank, pulled the intake off (My edelbrock Torker) and cleaned & reinstalled it, new brakes.
It's about a day's drive away and I've not seen it yet, I'll possibly stop by this weekend.

The car ran & looked great (not perfect as I never painted the engine compartment) when I had it, no rust, no leaks. It's deteriorated in the last 25 years and basicially needs full a resto/TLC but is not a basket case.

Can you tell me what the approximate value would be for this car, which is essentially a '65 coupe needing a resto which happens to have a K in the VIN? I was not in the market for a car and thus am really not in a position to buy it without it being a financial stretch. Should I just take the money and put into my '69 instead (needs engine rebuild at some point, AOD, r/e gears, etc.)? The seller has given me a price he'd like to get but seems willing to negotiate (to a point).

Thanks for any input.

 

[KBMWRS]

Unless you have some great emotional attachment to the car or intend to flip it why put yourslef in a financial situation you don't need to be in?
My guess with the fixes needed I'd WAG it at 7k.

 

[B67FSTB]

A "K"code coupe car without a K-engine nor K-trans nor K-rear end , in fact you have a K vin-number car with alot off work plus some emotional value.......Just have a look at it and make sure if you buy it , it was a baggern.It will cost too much to make it a real K-code car.!! IMHO.

 

[Fast68back]

Unless you have some great emotional attachment to the car or intend to flip it why put yourslef in a financial situation you don't need to be in?
My guess with the fixes needed I'd WAG it at 7k.

7K seems pretty steep. Without the K drivetrain I would not price it much higher than a comparable V8 coupe. Maybe a few bucks higher because of the VIN, but not a whole lot more. I'd search ebay and craigslist for comparable coupes

 

[FordDude]

If you want to join the more than one Mustang club it would be a cool one to have. Do you have a place to keep it? Extra money to throw at it? Sentimental value can be priceless at times. But you have to think of the end result are you going to have a modified K coupe or an upside down original? But I will take a wild guess here at the value of the "K" :scar Having it in the serial number maybe increases the value a grand, 2 at the most over a "A" or "C" code Mustang. fd

 

[garner67]

Like everyone else said, I'd pass, even though it does has sentimental value. It's missing too many things to bring it back to a real "K" code level.

I say put any extra cash you have into your 69!

 

[DEL65]

Will you be kicking yourself 10 years from now of you don't snag it while you can? Can you live with the regret? BTW, the 1/2 ounce of weed you stashed behind the back seat is probably long gone.

You could buy it and save it for a retirement project. There's no rush to finish it right away. $5K - $6K maximum for all the reasons stated above, but I'm worried about the rust.

You probably already ran the numbers but, conservative rough estimate for non-K restoration, assuming you'll do all the work except the engine rebuild, body/paint:

Paint/Body $5K
Engine/trans/rear $5/$1/$1
Interior $1
Suspension frnt / rear $2K
Misc $2K

Of course it's better, and cheaper, to have one cool completed car than two unfinished ones.

 

[AzPete]

Honestly, you don't sound to thrilled about getting it. I would pass and fix the car you have. You have good memories of the car.....I say live with them and move on. They always say not to get into a bad financial position if it can be avoided.

 

[GrabberOrange69]

Will you be kicking yourself 10 years from now of you don't snag it while you can? Can you live with the regret? BTW, the 1/2 ounce of weed you stashed behind the back seat is probably long gone.

You could buy it and save it for a retirement project. There's no rush to finish it right away. $5K - $6K maximum for all the reasons stated above, but I'm worried about the rust.

You probably already ran the numbers but, conservative rough estimate for non-K restoration, assuming you'll do all the work except the engine rebuild, body/paint:

Paint/Body $5K
Engine/trans/rear $5/$1/$1
Interior $1
Suspension frnt / rear $2K
Misc $2K

Of course it's better, and cheaper, to have one cool completed car than two unfinished ones.

+1

For all the reasons above, I'd steer away from it. Now if you'll be kicking yourself 10 years from now, keep reading.

FWIW, I bought a rusted out, junkyard stripped, '66 K fastback, no title, for $400 in 2001 (not ONE K part left on it, other than the K in the VIN). I traded it to a guy for some bodywork 6 months later. That dude is way upside down on the car now, it still doesn't run (though he has all the right K parts and the bodywork is done, no paint) and can't see a way to get above water on it, and has stopped work. The car was an original red on black pony interior car, and if you cant get right side up on that, you certainly won't on a coupe needing the same stuff. Think long and hard about it...