The highest-grossing car at Mecum Auctions’ sale in Chicago was this lovely blue ‘Stang in pristine condition that went under the hammer for $245k.
Manufactured on September 18, 1969, this Mustang Boss 429 Fastback is one of the 499 cars produced for the 1970MY and was sold as new back in the day at Boyce Ranson Ford in Conover, North Carolina. Even though it’s a 47-year-old car, the odometer reads only 25,000 original miles (40,233 kilometers), while the “concours restoration” makes it even more desirable. These assets were reasons enough to enable the pony car painted in Grabber Blue and with a white interior cabin to go for an impressive $245,000 at a recent sale organized in Chicago by Mecum Auctions.
There’s a lot to like about this particular ‘Stang, from the original and NOS parts used during the restoration process, to the Drag Pack and four-speed transmission linked to the original 375-hp Boss 429 engine.
Besides this classic Mustang, Mecum Auctions' event also saw another 434 cars go under the hammer during the October 6-8 auction in the Windy City where total sales reached $10.5 million. Here is the complete top 10:
- 1970 Ford Mustang Boss 429 Fastback at $245,000;
- 1967 Chevrolet Corvette Convertible at $123,000;
- 1988 Porsche 911 Turbo Cabriolet at $100,000;
- 2004 Rolls-Royce Phantom at $90,000;
- 1956 Chevrolet Nomad Resto Mod at $85,500;
- 1957 Ford Thunderbird E-Code at $85,000;
- 1970 Dodge Hemi Challenger R/T at $80,000;
- 1968 Shelby GT500KR Fastback at $77,000;
- 1968 Ford Mustang Convertible at $70,000;
- 1966 Shelby GT350H Fastback at $137,500.
While classic Mustangs continue to be in high demand, the same thing can’t be said about the current model. Ford is idling production at its Flat Rock Assembly Plant following a massive drop in sales of 32 percent last month to just 6,429 cars. By the end of September, the Blue Oval company had enough cars in its inventory for 89 days, which is around 30 days more than what industry analysts consider to be acceptable.
One of the reasons why sales are taking a dive might have to do with the lower incentives Ford has been offering lately. Year-to-date sales are down by 9.3 percent to 87,258 cars compared to the January-September 2015 period.
Source: Mecum Auctions