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Price opinion from advertisements and recorded sales. Not an inspection or a certified valuation.
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Reference photograph of a Ford Mustang GT Fastback
Valuation · Ford · First generation · 1967-68

Ford Mustang GT Fastback

6.4L NA V8 (390 FE GT) · 240 kW / 570 Nm · 4sp manual · RWD
AVOIDRated within the over $100k band · 99 of 104 at this money
Model value
$150,000
Must gain each year to break even
+6.2%
The projection does not clear it, and nor does most of the library.
CarQuant score
53/100
Scored against the over $100k band, not the whole library
Evidence grade
Measured
Four or more recorded Australian sales
$150,000
$100,301 lowhigh $161,254
Calibrated to recorded sales
Fifteen published Shannons lots, April 2018 to March 2022, fourteen of them sold. Most are not the car this record describes: four declared replicas or tributes, a 1960s Shelby, four Mach 1s, a coupe, a convertible that passed in and a 1965 fastback.

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Put in the asking price and the odometer reading. You will see what this model should make at that reading.

Should make, typical example
$150,000
At about 45,000 km. Enter an asking price to compare.

Odometer only. Colour, options, history, condition and the photographs move it further, and that is what the report reads.

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Price history

Today $150,000 · modelled median at five years $130,625
Solid line: the value this library has carriedDashed from 2026: modelled · even money $114,675 to $146,736
The green band is the even-money range and the one to plan on: half of outcomes land inside it. The pale band behind it bounds eight in ten ($100,301 to $161,254). The path is this model's own: it starts along the momentum of its recorded history and bends toward its projected median as the horizon lengthens, so no two cars share a future curve.

The verdict

The numbers argue against it. Scores 53/100, ranking 99 of 104 in the over $100k band. Ownership economics is the strongest input, risk resilience the weakest.
Running it costs about $8,220 a year (5.5% of value), which is what the economics score measures. All in, including the projected value change, it is $14,075 a year.
The model's five year median is $130,625, a -12.9% move, with the tenth percentile at $100,301.
Value calibrated to recorded sales.
Evidence
Measured10 recorded sales
Off its peak
-30%
Value band
moderate
Multiple recorded transactions plus an aggregate source. Treat the level as reliable.
Scored against every recent Australian sale this library holds, half its values land within 11.2 per cent of the price paid and the rest miss by more, in either direction. Projections are therefore damped toward flat in proportion to how little is known, and the plausible band is never narrower than the error the model is known to make.
Short term (1-5 years)$14,075 a year all in, -12.9% median value move
Long term (10-15 years)Scarcity case already formed
Negotiate from$150,000

Recorded sales

Every recorded observation, and when
15 rows on record
$237k$126k$15k
20182020202220242026
the value this record published, year by yearnow $150ksoldcontext, excluded1 row is undated and is not plotted
Every row, with its price and note (15) ↓
Library value against the sold record
10 sales · median $67,750
Value $150,000
$39,000$172,500
Mar 2022Shannons$110,500Sold
SOLD. Feb-Mar 2022 Shannons Summer Timed Online, Lot 130. Mustang 'A Code' fastback, RHD. No year of manufacture in the results sheet. Peak-market print, and the direct RHD half of the same-sale pair with Lot 127.
Mar 2022Shannons$95,500Sold
SOLD. Feb-Mar 2022 Shannons Summer Timed Online, Lot 136. Mustang Mach 1 'Q-Code' fastback, LHD. No year of manufacture in the results sheet.
Mar 2022Shannons$40,000Sold
SOLD. Feb-Mar 2022 Shannons Summer Timed Online, Lot 127. Mustang coupe, LHD. No year of manufacture in the results sheet. The LHD contrast to Lot 130 in the same sale.
Mar 2022ShannonsNo saleNot a sale
NOT A SALE. Feb-Mar 2022 Shannons Summer Timed Online, Lot 134. Mustang GTA 390 S-Code convertible, RHD, passed in. No year of manufacture in the results sheet.
Apr 2021Shannons$172,500Sold
SOLD. Apr 2021 Shannons Autumn Timed Online, Lot 125. Mustang Mach 1 S-Code fastback, RHD. No year of manufacture in the results sheet. The highest first-generation Mustang print in the archive.
Apr 2021Shannons$64,250Context, excluded
SOLD. Apr 2021 Shannons Autumn Timed Online, Lot 121. Mustang 'Boss 302 Tribute' fastback, RHD, declared as a tribute. No year of manufacture in the results sheet.
Mar 2020Shannons$165,000Sold
SOLD. Mar 2020, Shannons Melbourne Autumn Classic, Lot 81. Shelby Mustang GT350 fastback, RHD. A 1960s Shelby, not an S550. No year of manufacture in the results sheet.
Mar 2020Shannons$77,000Sold
SOLD. Mar 2020, Shannons Melbourne Autumn Classic, Lot 79. Mustang fastback, LHD. No year of manufacture in the results sheet.
Jul 2019Shannons$42,000Sold
SOLD. Jul 2019, Shannons Melbourne Winter Classic, Lot 42. Mustang Mach 1 fastback, LHD. No year of manufacture in the results sheet.
Apr 2019Shannons$37,000Context, excluded
SOLD. Apr 2019, Shannons Melbourne Autumn Classic, Lot 74. Mustang 'Shelby Replica' fastback, LHD, declared as a replica. No year of manufacture in the results sheet.
Mar 2019Shannons$58,500Sold
SOLD. Mar 2019, Shannons Sydney Autumn Classic, Lot 52. 1965 Mustang fastback, RHD. The results sheet notes the price excludes the 5% buyer's premium.
Feb 2019Shannons$48,000Context, excluded
SOLD. Feb 2019, Shannons Melbourne Summer Classic, Lot 39. 1967 Mustang 'GTA Replica' fastback, LHD, declared as a replica.
Sep 2018Shannons$39,000Sold
SOLD. Sep 2018, Shannons Melbourne Spring Classic, Lot 23. 1972 Mustang 'MACH 1' 351 V8 fastback, LHD. A later first-generation car, not a 1967-68.
Jul 2018Shannons$60,000Context, excluded
SOLD. Jul 2018, Shannons Melbourne Winter Classic, Lot 38. 1968 Mustang 'GT 500E Eleanor Replica' fastback, RHD, declared as a replica.
Apr 2018Shannons$54,000Sold
SOLD. Apr 2018, Shannons Melbourne Autumn Classic, Lot 38. 1967 Mustang fastback, LHD.
10 completed Australian sales of 15 rows. Rows marked asking, no sale, or context are shown for honesty but do not count toward the evidence grade: an ask is not a transaction, a pass-in is a refusal, and a provenance or overseas result does not price the ordinary local car. The badge on every row is computed by the same rule as the grade, so the two cannot drift apart.

Score breakdown

Against the over $100k band median
104 cars in band · ink tick marks the median
Ownership economics30% of total
70/100+1
Scarcity25% of total
55/100-10
Demand durability20% of total
66/100-12
Liquidity15% of total
33/100+1
Risk resilience10% of total
4/100-30
Sub-scores run 0-100 before weighting; the weighted total is 53/100. Medians are computed live from the 104 cars currently in the over $100k band, so this picture moves when the library does.
The working behind each factor: baseline and drivers ↓
Ownership economics30% weight
70/100
Baseline84 pts
− 5.5% of value a year to run-14 pts
Sub-score (baseline plus drivers, clamped 0-100)70 pts
Scarcity25% weight
55/100
Baseline20 pts
+ 275 survivors estimated in Australia+35 pts
Sub-score (baseline plus drivers, clamped 0-100)55 pts
Demand durability20% weight
66/100
Baseline56 pts
+ The shape everybody knows, and the one everybody wants to fake+12 pts
+ A genuine right-hand-drive fastback is a scarce car in this country+10 pts
− Most of what is offered here is not what the badge claims-12 pts
Sub-score (baseline plus drivers, clamped 0-100)66 pts
Liquidity15% weight
33/100
Baseline12 pts
+ 120 days on market+8 pts
+ 25 sales a year+13 pts
Sub-score (baseline plus drivers, clamped 0-100)33 pts
Risk resilience10% weight
4/100
Baseline42 pts
− Fakes are endemic and the local catalogues are full of declared ones-18 pts
− Structural rust across torque boxes and frame rails is $60,000-12 pts
− A bad conversion is $40,000 to re-engineer before it is a car-8 pts
Sub-score (baseline plus drivers, clamped 0-100)4 pts
Model output, not advice or a valuation. Verify independently before acting.

What it costs to own · about 2,500 km a year

Annual cost of access, excl. fuel
$8,220a year
Share of value per year
5.5%
Scheduled servicing$1,97024%
Tyres, annualised$99012%
Registration and CTP$90011%
Insurance$1,73021%
Sinking fund (failure table)$2,63032%
All-in annualised (a different number)
Purchase (model value plus duty)$156,000
Running costs × 5 years$41,100
Median exit, net of selling cost$126,725
All-in annualised over 5 years$14,075/yr
Share of value per year9.4%
Cost of access is what the car costs to run. All-in annualised adds depreciation, duty and selling costs across a five year hold. They answer different questions and are labelled separately for that reason.
Break-even appreciation, 5 year hold
6.2%a year, only to get the money back
This library projects
-2.7%a year
The projection falls 8.9 points a year short of the hurdle. On these assumptions this car is a cost, not an asset, which can be an entirely rational thing to buy but should be bought knowing it.
Purchase$150,000
Stamp duty$6,000
Running costs x 5 years$41,100
Selling cost at exit, 2.6% of the salescales with price
Sale price needed at +5 years$202,361
Storage
Bought at
No forecast is used to compute the hurdle. It is the purchase, the duty, any premium and 5 years of running cost, grossed up for the cost of selling and spread back over the hold. The projection it is measured against is the weakest number in this product and is drawn that way in the chart above. Transport, finance and any restoration spend sit outside it.

Specification

Engine6.4L NA V8 (390 FE GT)
Power / torque240 kW / 570 Nm
0-100 km/hNot established
Transmission4sp manual
DriveRWD
Kerb weight1,500 kg
Built worldwide800,000
Delivered to AustraliaNone. Every car here is an import
Effective AU survivors275 (imported)
Australian sales / year25
Typical days on market120 days
Launch priceNever sold new in Australia

What moves the price on this model

Colour hierarchy
Original paint, unresprayed+6%
A period factory colour rather than a modern shade+4%
Resprayed over filler from a prior restoration-9%
Options
A genuine car rather than a declared tribute or replica+60%
Right-hand drive rather than an equivalent left-hand-drive fastback+45%
Structure documented at the torque boxes, frame rails and shock towers+18%
Odometer sensitivity±1.4% per 10,000 km vs 45,000 km
Applied on top of these

Condition, history, originality, ownership, delivery and modification multipliers apply to every car in the library. They are applied automatically when an advertisement is analysed, and the schedule is set out once, on the analyser page.

Projected value in five years

Projected value at five years
$130,625
-12.9% on today
The model's figure. Today it is $150,000.
Even odds it lands between $114,675 and $146,736.
$100,301 lowhigh $161,254
The shaded range is even money and 28% wide; the outer figures bound eight outcomes in ten. Band width follows the evidence - a model with a tight measured record carries a tight band.
A weaker five year outlook than 86% of the library.
-26.6% weakest projected move in the librarystrongest +73.1%
Five-year cost of ownership
Value change alone: -$19,375 across five years.
Running costs over the same period: $41,100.
Duty and expected selling costs: $9,900.
Net cost of five years of ownership: $70,375, or $14,075 a year.
The projected value fall is added to the running cost. Depreciation is the larger number here.

The case for and against

The case for

A quality right-hand-drive conversion clears 35 to 60 per cent above a comparable left-hand-drive fastback, and the local prints show it: $172,500 for a right-hand-drive Mach 1 S-Code in April 2021 against $95,500 for a left-hand-drive Q-Code fastback eleven months later. The best cars held through the correction while mid-market drivers softened.

The case against

Of the fifteen Australian lots on record, most are not this car: four declared replicas, a 1960s Shelby, a 1972 Mach 1, a coupe, a convertible that passed in and a 1965 fastback. Structural rust is $60,000 and a poor prior restoration another $50,000 to strip and redo, against a $150,000 valuation with no catalogued 1967-68 GT fastback anywhere in the published record.

Known faults and risks

Risk 1Declared replicas made a third to a half of genuine money in the same rooms
Risk 2Not one of the fifteen published local lots is a catalogued 1967-68 GT fastback
Risk 3Structural rust in torque boxes, frame rails, cowl and shock towers at $60,000
Structural rust: torque boxes, front frame rails, cowl and plenum, floors, rear quarters, shock towers$60,000
Poor prior restoration hiding filler, stripped and redone properly$50,000
Bad RHD conversion re-engineered: pedal box geometry, wiper sweep, steering shaft angle$40,000
Shock tower cracking around the upper control arm$8,000

Similar cars, and what they cost to run

Evidence behind this valueMeasured · 10 recorded sales
Carried value
$150,000
Historical price
2016 · $157,5002026 · $150,000
Measured
Multiple recorded transactions plus an aggregate source. Treat the level as reliable.
Fifteen Australian lots, and the finding is what they are rather than what they made

The published Australian auction record for first-generation Mustangs is dominated by cars that are not what a buyer thinks they are shopping for. Four are honestly declared replicas or tributes: a Shelby Replica at $37,000, a GTA Replica at $48,000, a GT 500E Eleanor Replica at $60,000 and a Boss 302 Tribute at $64,250. One is a 1960s Shelby GT350 at $165,000, which is a different car entirely. Four are catalogued as Mach 1s, one of them a 1972 car that the research flags explicitly as a later first-generation example rather than a 1967-68. One is a coupe, one is a convertible that passed in, one is a 1965 fastback. Not one lot in the fifteen is catalogued as a 1967-68 GT fastback, which is the car this record prices.

Read the rest of the evidence notes (4 more)
The declared replicas are the most useful numbers in the set

Sold honestly, in the same rooms, in the same years, they made a third to a half of genuine money. That spread is the published cost of the badge, and it also sizes the loss on a car whose seller was less honest.

Drive side is the biggest single variable in this segment and here it is priced

Quality right-hand-drive conversions clear 35 to 60 per cent above comparable left-hand-drive fastbacks. The cleanest demonstration is the Mach 1 pair, $172,500 right-hand drive in April 2021 against $95,500 left-hand drive eleven months later, and even that is two engine codes eleven months apart across the top of the market. The pairing the results sheet itself invites - $110,500 for a right-hand-drive 'A Code' fastback against $40,000 for a left-hand-drive car in the same sale - is a fastback against a coupe, so it overstates the drive-side gap and is not used as one here. A left-hand-drive non-GT fastback is a $70,000 to $95,000 car.

The sheets mostly do not carry a year

Where 1965, 1967, 1968 or 1972 appears above, it is printed in the source; where no year appears, none was published and this record does not infer one. The March 2019 result at $58,500 also excludes the five per cent buyer's premium, which the sheet states.

And all of it is old

These results run April 2018 to March 2022 and stop there, because Shannons left the auction business in November 2023. Real published prices, four to eight years old, describing a run into a 2021-22 peak that the model has since given back about ten per cent of.

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The report prices the car in the advertisement.

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Backed by 10 recorded Australian sales of this model. Read a complete one on a real car first. Seventeen sections, no account, nothing to pay.

This model, today$150,000
Half of sales are further out than$16,769
The report$249
67×
the price of the report: what half of real sales of this model sit further from this page's number than, on this car
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