NEW! Award 38: 1984 Ford Mustang GT350 17K Mile Survivor – Sold!

Apr 2020 | Classifinds, Malaise Monday

Ford commemorated the 20th anniversary in 1984 with a special edition Oxford White over Canyon Red GT350 model such as the hatchback version listed on Craigslist in April 2020 in Chelmsford, Massachusetts. With only a stated 17,000 original miles and equipped with T-Tops and a five-speed manual, the private seller is asking a very optimistic $19,500. Unfortunately, a check of the Hagerty Insurance Online Valuation Tool confirms this private seller has their special edition priced $7,200 above the current #1 “Concours” estimate of $19,500.  A second check using the NADA Guides Classic Car Online Valuation Tool also confirmed the seller’s asking price is about $5,000 above the “Low”, “Average”, and “High” retail value range of $3,030, $7,437, $14,125, respectively.  Even this 19K original mile automatic-equipped convertible on BringATrailer.com sold at no reserve one year ago for $15,100, so we were at a loss on why the seller thinks they can get this kind of top dollar for their Mustang.

Then we remembered why.  At the Barrett-Jackson 2018 Scottsdale event, Fox Body Mustangs were a hot commodity with several hitting record prices.  As the video below shows, a very similar car to the one featured here hammered for $28,000.   So, what we have is a seller who likely saw this same video from two years ago for a very similar car auctioned on a Saturday afternoon  (Scottsdale’s peak day) with a room full of willing, able, and likely imbibing free alcohol achieve a record price.  Rather than rely on today’s pricing guys we’ve outlined above, the seller appears to be using a single data point from two years ago.  Consequently, the seller earns our latest NEW! (short for “No Effin Way!”) award.

While most of the Mustang was carried over in late 1982 for 1983, there were some changes and improvements on the then five-year-old “Fox-platform” model. The front fascia was restyled with a more rounded nose and reshaped grille. New, wider horizontal taillights with dedicated amber turn signals replaced the vertical sectioned units. This was also the first Mustang to the use the “Blue Oval” Ford emblem on the exterior, both front and rear.  The Mustang GT received a four-barrel carburetor and a new intake manifold, bringing power up to 175 horsepower.

Halfway through the model year, Ford also recognized the 20th Anniversary of the Mustang with the GT350, essentially a limited run of GTs and Turbo GTs and labeled as 1984 1/2’s, similar to the originals.  Ford produced 5,260 hatchback and convertible models were built, all trimmed with Oxford White exteriors and Canyon Red interiors. They featured red GT350 rocker stripes and tri-bar Pony emblems on the front fenders.  A new “Quadra-Shock” rear suspension, which replaced the slapper bars with horizontally mounted axle shocks, became available after a few months of production. After 1984, the TRX option was retired for the Mustang.

In addition to the wild asking price, we’re surprised the seller does not provide a picture of the documentation we hop comes with this low-mileage time capsule.  The biggest faux pas we see on this car are the wheels, which are not the stock 14″ wheels or the optional TRX units this car would have come equipped with when new.  If the seller doesn’t include them with the sale, that’s another point of leverage.  Overall, a nice low-mileage example with a too-high asking price.  Good luck with the purchase!

Here’s the seller’s description:

“1984 Mustang Gt 350 5.0 5 speed t tops 17000 original miles car is in perfect condition low production a true time capsule looks and runs excellent must see will consider interesting trades c10 corvette Chevelle.

Do you have a Fox Body Mustang story you’d like to share?  Comment below and let us know!

1 Comment
  1. Analog Man

    As much as I always get a laugh out of ‘I know what I’ve got’ craigslist ads and associated crack-pipe prices, this car might be priced reasonably correctly. The values of so many ‘collector’ cars seem to be disconnected from Hagerty or NADA (or sanity…). Fox-body Mustangs in particular have been on a tear lately, and for the past year or two prices have been rocketing into the stratosphere. Some of the recent sales on BaT have been for what to me seemed like eye-watering prices, such as this 1993 5.0 LX with similar mileage for $24,250 –

    https://bringatrailer.com/listing/1993-ford-mustang-lx-5-0-17/

    and these two less-desirable GT’s (with higher mileages and no T-tops) for $12k and $14k –

    https://bringatrailer.com/listing/1988-ford-mustang-gt-5-0-7/

    https://bringatrailer.com/listing/1987-ford-mustang-gt-5-0-7/

    So I can understand where the seller is getting his guidance for an arguably more valuable and rare GT350. What is funny is that craigslist is not exactly the best forum to get the highest price for a collectible car. It’s a place where cheapskate sellers go because they want to avoid paying a listing fee or commission, and where you find countless scam artists and bottom-feeders offering half of the asking price or a trade of farm equipment.

    Even in the new coronavirus world order, this clean, low-mileage, 5 speed, T-tops GT350 might get something close to the asking price, but not on craigslist.

    Reply

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