Price of 1991 Foxbody

[Blueinfan]

okay, Here's my BIG question - I was looking for a 2012 Boss302 but purchased a 1991 Ford Mustang Convertible LX 5.0 with 91k miles. I purchased it to learn and figured it would be fun to restore it. All original, no rust. I have spent about 5k on it already and most of this was cosmetic stuff! There is another 7k that needs to be spent on it which will be a new paint job (4k), new carpet (200), sets, door panel (600), and convertible top (300). Plus rims and tires 2,000. So over all I would have spent about 15k on the car, Most of the parts have been purchased from Junk yards, LMR, American Muscle, CJpony.

How much do you guys think the car will be worth? I know I won't get what I spent on it. I've added a picture of the car.

This is an example of some of the stuff I have purchased for the car - We all know that some parts are not cheap and are becoming harder and harder to find.

LRS-9345A	87-93 MUSTANG CONVERTIBLE TOP
LRS-53480K	E3ZZ-7653480 83-93 MUSTANG
LRS-50600A	83-93 MUSTANG HYDRAULIC CYLIND
LRS-53300K	83-93 MUSTANG CONVERTIBLE TOP
LRS-53300A	83-93 MUSTANG CONVERTIBLE TOP
LRS-53390A	83-93 MUSTANG CONVERTIBLE HOSE
RP-12320	ROYAL PURPLE MAX ATF AUTO TRAN
LRS-19542A	80-04 MUSTANG POWER TRUNK AND
ACC-9093QT-BLK	90-93 MUSTANG ACC QUARTER TRIM
LRS-60230HDWB	1990-93 MUSTANG CONVERTIBLE SE
N803749S32-6	FOZZ-7660230-F METAL RETAINING
LRS-24150A	E7ZZ-6124150 1987-93 MUSTA
LRS-2733K	79-93 MUSTANG 5.0L REPLACEMENT
LRS-23704AB	87-93 MUSTANG DOOR PANEL SOUND
LRS-23704AA	87-93 MUSTANG DOOR PANEL MOIST

 

[HemiRick]

Look on the price guide web sites, Nada Guide.com, KBB.com, Hagerty.com

 

[Mustang5L5]

How many miles are on it?

Restored condition for a convertible is hard to judge. It's going to vary by region as a convertible in CA or Florida will have more buyers than one from Maine, or Montana.

As a results, convertibles tend to not pull the prices that the hardtops can. If the car is an AOD, that's even worse as AOD cars seem to be the red-headed step child of the foxbody clan.

An LX AOD convertible might get $7-9K or so.

 

[Blueinfan]

How many miles are on it?

Restored condition for a convertible is hard to judge. It's going to vary by region as a convertible in CA or Florida will have more buyers than one from Maine, or Montana.

As a results, convertibles tend to not pull the prices that the hardtops can. If the car is an AOD, that's even worse as AOD cars seem to be the red-headed step child of the foxbody clan.

An LX AOD convertible might get $7-9K or so.

I did some digging after I see your post. You are right! Well I guess I will be keeping it, cruising in it and leaving it for my kids! There is no way I will sell it for 9k after I spent about 12k. I know some people even spend more on a project.

 

[96pushrod]

A friend down here bought a 92 convertible that was bone stock, down to the exhaust, radio, air box, and distributor cover. The car had 41,000 miles on it and was a lx/5.0/automatic. It was about a 9/10 and he paid $12,000 for the car.

Convertibles just don’t sell for what you’ll usually have into them, if it was a coupe or hatch that would probably be a different story.

 

[CarMichael Angelo]

I did some digging after I see your post. You are right! Well I guess I will be keeping it, cruising in it and leaving it for my kids! There is no way I will sell it for 9k after I spent about 12k. I know some people even spend more on a project.

Welcome to the real world. Anybody here that builds/modifies/restores just about any car knows that your single dollar invested is equivalent to .50,....maybe .60 and that’s if you do nice work and choose your mods/improvements wisely.

Have to pay anybody to do anything, and it’s even less.

A nicely restored to factory original will usually bring the highest return on your dollar, but even at that, you could spend 20k in a minute to have a car that’s wire 10-12k when all the dust settles. if you’re thinking that you’re gonna get anywhere near what you put in it, sell it now, and buy a house..because THAT is the only place you can put a dollar in and get more than a dollar out.

 

[Potomus Pete]

All is true, but we are talking future value. In five years { that go by quick } prices will be much higher. Ten years from now we should expect almost twenty grand for a prime car. I base this on sport model cars for sale now that are forty years old. Just remember to do most of your work, so you know your car.

 

[7991LXnSHO]

KBB does not cover old 1991 cars anymore, or at least not when I recently looked.

 

[Potomus Pete]

I would think if they did it would be less than two grand

 

[Mustang5L5]

Yeah KBB isn’t really reliable these days. Even Haggerty classic valuation is off as they go by MSRP and base current values on that. They value a GT vert the highest and a 5-spd coupe the lowest simply because it’s how the MSRP was tiered when new. Other than few exceptions, it doesn’t follow the market.

 

[Blueinfan]

How many miles are on it?

Restored condition for a convertible is hard to judge. It's going to vary by region as a convertible in CA or Florida will have more buyers than one from Maine, or Montana.

As a results, convertibles tend to not pull the prices that the hardtops can. If the car is an AOD, that's even worse as AOD cars seem to be the red-headed step child of the foxbody clan.

An LX AOD convertible might get $7-9K or so.

The car has 91,000 miles