Equipment
428/335hp Cobra Jet, automatic, 3.25 Traction-Lok, power steering and front disc brakes, air conditioning, Rally wheels, Polyglas tires, tilt steering column, hood pins, AM-FM, wheel covers.
Condition
#3 Good
Runs and drives well. Flaws not noticeable to passersby. Most common condition.
Fair older repaint over old paint. Chips behind the driver’s door and a few other places. Good upholstery and chrome. Foggy gauge lenses. Clean underbody and chassis. A usable but superficial older restoration.
Market commentary
It’s possible to be mistaken, but doesn’t the technical specification of this Cobra Jet Mustang GT Convertible sound a lot like a Shelby GT500? It was sold at Russo and Steele Arizona in 2005 for $73,980 when its odometer showed just 31 fewer miles than the 8,340 miles it does. It sold at RM’s Wayne Davis sale in 2008 for $121,000, then here at Kissimmee in 2021 for $121,000. Its value has advanced no farther than the miles on its odometer since then, an enjoyable and rare Mustang convertible for a moderate and reasonable price.