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Old 07/21/2003, 07:20 AM   #1
greg66
 

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Found '66 HCS in a barn... sort of

OK, not really a barn, but it was a decrepid car port enclosed with plastic and tarps.

Anyway, I was checking out a tip on a local stang for sale and ended up finding a '66 HCS in horrible shape. Although it was covered in mountains of crap that the guy had stored in his garage, I could tell this baby needs a lot of work. It needs quarters, floors, and fender patches at a minimum... in addition to a complete sandblasting/dip to remove quite a lot of surface rust all over the place. Timberline Green was the original color. The passenger floor pan was not there due to it rusting out. The interior was not in the car, although it looked like the guy had most of it (black standard) including a rally pac. It is a 289 2V car with a 3-speed, although the heads and intake were sitting across the room from the car, and had been sitting off the motor for years probably. Also, I suspect the guy didn't have the title to the car, but the guy was Mexican and didn't seem to understand many of my questions when I asked them... so maybe there is a title.

Anyway, I am wondering what this heap of a Mustang might be worth. I think I can get it for about $400. Worth it or no? I really don't need another stang... would just be buying it to re-sell.
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Old 07/21/2003, 12:08 PM   #2
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Re:Found '66 HCS in a barn... sort of

I would think that you could part the car out for a bit more than 400.
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Old 07/21/2003, 01:40 PM   #3
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Re:Found '66 HCS in a barn... sort of

[quote author=-=MUSTANG=- link=board=1;threadid=518;start=0#msg2788 date=1058814486]
I would think that you could part the car out for a bit more than 400.
[/quote]

Them's fightin' words 'round here...

Seriously, if you buy the car to make money PLEASE sell it as a whole. There were only 333 of the '66 HCSs made. With the Rally-pac and 289/3-speed it's an even more desireable car that deserves to be restored.

-Winston
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Old 07/21/2003, 02:41 PM   #4
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Re:Found '66 HCS in a barn... sort of

Sorry Winston, didn't mean to rock the apple cart. I just believe that sometimes things aren't worth saving. If the description of the car is accurate, restoration costs could exceed the value of the car. Even though these cars are dear to our hearts many of us still have to factor in economics when deciding what to do with the cars that cross our paths.

Hopefully a new owner will have the means to restore the car properly and if the costs go a little high, that person can hold onto it until the value catches up to the restoration costs or has the means to accept a financial loss.
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Old 07/21/2003, 10:51 PM   #5
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Re:Found '66 HCS in a barn... sort of

If I had the money I would use it all to restore a mustang the joy and hard work of building it and showing it off is worth more then any buck in my pocket. blood sweat and tears is harder then cash
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Old 07/22/2003, 07:12 AM   #6
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Re:Found '66 HCS in a barn... sort of

[quote author=-=MUSTANG=- link=board=1;threadid=518;start=0#msg2790 date=1058823717]
If the description of the car is accurate, restoration costs could exceed the value of the car.[/quote]
In my experience, restoration costs almost always exceed the value of a car.


Quote:
Even though these cars are dear to our hearts many of us still have to factor in economics when deciding what to do with the cars that cross our paths.
He isn't being forced to buy the car and part it out. I would suggest that he try and find someone that is willing to restore it and pass this find on to them.


Quote:
Hopefully a new owner will have the means to restore the car properly and if the costs go a little high, that person can hold onto it until the value catches up to the restoration costs or has the means to accept a financial loss.
That's my point -- this car should only go to someone who can accept that the car will cost more to restore than it's worth. There are plenty of these people out there, eager for such a project. To these people, the almighty buck isn't king -- bringing something special back to the road is.

This car should not be parted out in favor of a lesser car. If it were a plain Jane coupe that would be one thing, but a HCS V8 w/manual shift and a Rally-Pac (if original) is something special. I think that car is worth saving even if you have to replace every piece of sheetmetal on it. There are people willing to do just that. If it were anywhere near me, that person would be me (his and hers restoration projects... wouldn't that be nice!).

-Winston
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Old 07/22/2003, 02:28 PM   #7
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Re:Found '66 HCS in a barn... sort of

Winston,

That is a noble view you have regarding our hobby. I just prefer to look at cars more objectively. Not all rare Mustangs are desirable, HCS don't bring prices like Shelbys, Bosses, and hipo cars do, therefore your restoration dollar doesn't go as far. You don't have to view the "almighty buck as king" to make intelligent decisions when it comes to spending money, especially money spent on a hobby.
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Old 07/22/2003, 03:51 PM   #8
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Re:Found '66 HCS in a barn... sort of

I agree that the HCS cars aren't up there as far as value is concerned. The car in question here is probably only worth about $1000 more than the same coupe without the HCS designation, once restored. However, my opinion (which you disagree with apparently) is that money spent in enjoyment is money well spent, regardless of the material return you receive for it.

If you don't enjoy restoring vehicles, then you certainly wouldn't want to buy a car that will require prohibitive amounts of money to fix up when compared to its value. However, if you do enjoy the process of restoring a car (whether it be by you personally or hired out), then you're paying money for the accomplishment of restoration. There are plenty of hobbies that cost thousands of dollars or more but which yield no material gain whatsoever. Mountain climbing, surfing exotic locales, and flying hot air balloons around the world are just a few that come to mind. How do you rationalize the money spent on these endeavors? Personally, I make my intelligent financial decisions elsewhere so that I don't have to worry about that when I spend money on my hobby.

Sometimes you just have to live for the experience instead of for your bank account. Pride is worth more than any paper printed with dead presidents will ever be.

-Winston
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Old 07/22/2003, 05:44 PM   #9
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Re:Found '66 HCS in a barn... sort of

And at the end of the day Greg66 still has a rusted out hulk sitting in his driveway. Instead of spending upwards of 15,000 he can make a few thousand by parting it out, there is a financial decision that may allow him to put more money into another one of his cars. While I don't disagree with your assesment on spending money for pure enjoyment ( I'm into boating as well as Mustangs, so I am acutely aware of spending money for pure pleasure ) sometimes the object of ones affection is nothing more than an object of commerce to another. It just depends on which guy finds the car.
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Old 07/22/2003, 06:58 PM   #10
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Re:Found '66 HCS in a barn... sort of

Quote:
Anyway, I am wondering what this heap of a Mustang might be worth. I think I can get it for about $400. Worth it or no? I really don't need another stang... would just be buying it to re-sell.
Greg66, my suggestion would be to either buy it and resell as-is for possibly a few bucks profit, or let it go and pass the opportunity on to someone who's interested in restoring it.

If you buy it and restore it you won't get your money back. As rare as the 66-67 HCS's are, they just won't bring in enough money to make you any profit on the restoration. So if you're looking to make some cash for other projects this wouldn't be a good route to go.

If you buy it and part it out I personally think it would be a shame. You won't get any more money for parts from a 66 HCS then you will from a standard 66 coupe, so there's really not much point. If you're just going to part it out surely you can find another normal 66 Mustang around for a similar price. That way this one could be left to someone who wants to restore it.

Obviously at some point a car becomes a lost cause, but it's sure hard to see something as rare as 1 of 333 go to the crusher.
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Old 07/22/2003, 08:23 PM   #11
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Re:Found '66 HCS in a barn... sort of

[quote author=-=MUSTANG=- link=board=1;threadid=518;start=0#msg2801 date=1058921050]
And at the end of the day Greg66 still has a rusted out hulk sitting in his driveway. Instead of spending upwards of 15,000 he can make a few thousand by parting it out, there is a financial decision that may allow him to put more money into another one of his cars.[/quote]

I can understand his (valid) desire to make a buck -- I've been there too. I'm just pleading that he settle for several hundred dollars by selling it to someone who will restore it -- thereby rescuing this rare car -- rather than parting it out and making more money. No, it doesn't make economic sense, but then again neither does the National Parks system. Money is replaceable. It will come and go, and one George Washington is just as good as another. If he doesn't make as much money here, he'll make it somewhere else. However, once this car is parted out, it's gone forever.



Quote:
It just depends on which guy finds the car.
Very true! Sadly, sometimes it's the wrong guy. We'll see which one Greg is... :)

-Winston
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Old 07/23/2003, 08:16 AM   #12
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Re:Found '66 HCS in a barn... sort of

Plus, are there really thousands to be made from parting out this particular car? The body panels sound shot, the interior is gone, the engine is in pieces, it's been sitting for so long the rest of the running gear is probably frozen up or in desperate need of a rebuild.

I know there's a lot of little pieces you could sell on Ebay that may add up to quite a bit, but that's also quite a bit of work.
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