What is a +100K Mile Blue Bullitt worth?

[walt460]

I found a +100K mile Blue 2001 Bullitt that has a blown engine. The engine still turns, but tight, owner suspects he spun a bearing.

Autocheck shows always in Texas and Nevada, 2 owners, verifies high miles.

It has been sitting one year. Paint is sun burnt, needs paint, but body is good never wrecked. Interior rough, driver's seat needs repair, etc., has original wheels, needs tires. Reportedly the trans and clutch replaced 25K ago.

What do you think it is worth?

 

[Fox-4]

5k, imo.

maybe a bit less for all the work you'll be doing.

 

[walt460]

$5K, really? What is worth if it is a running clean car with good paint, good interior, well serviced but +100K miles?

 

[jymboslice]

Are you looking to buy this? Because I kind of want it haha.

 

[KLeech]

If that were me I'd probably make an offer around 2000-2500.

 

[walt460]

I am looking to buy it, just not sure what I should pay.

I rebuild/restore SN95s that are collectable models; Cobras, Mach 1s, 35th & 40th Anniversary GTs etc. I never done a Bullitt car.

When I do the math, it just does not seem worth it. A motor rebuild is $2000, seats will be $1500 to reupholster, paint will be $2500-$4000 per my painter buddy, tires $600, it needs exhaust, headlights and some other stuff..... I could put $6000 in this car pretty quick. Or, and it has an ORP so it needs a catted H-pipe to be legal here in Nevada. From looking on-line, it is worth $10,000 max when done, (recall it has over 100K miles showing on AutoCheck). I am OK working cheap, but I can not sell at a loss and keep my hobby going!

Suggestions, ideas? Should I just fix the motor on the cheap, buy some used tires, paint the trunk, roof & hood and flip it?

It is one of only 723 Blue Bullitts, I keep thinking it desires to be restored. What do you think?

 

[P49Y-CY]

I am looking to buy it, just not sure what I should pay.

I rebuild/restore SN95s that are collectable models; Cobras, Mach 1s, 35th & 40th Anniversary GTs etc. I never done a Bullitt car.

When I do the math, it just does not seem worth it. A motor rebuild is $2000, seats will be $1500 to reupholster, paint will be $2500-$4000 per my painter buddy, tires $600, it needs exhaust, headlights and some other stuff..... I could put $6000 in this car pretty quick. Or, and it has an ORP so it needs a catted H-pipe to be legal here in Nevada. From looking on-line, it is worth $10,000 max when done, (recall it has over 100K miles showing on AutoCheck). I am OK working cheap, but I can not sell at a loss and keep my hobby going!

Suggestions, ideas? Should I just fix the motor on the cheap, buy some used tires, paint the trunk, roof & hood and flip it?

It is one of only 723 Blue Bullitts, I keep thinking it desires to be restored. What do you think?

I think a car like this does need to be restored, it is just the wrong time right now. I think in another 20 years or so the fact that it is a limited production bullitt mustang would have more weight in making the decision. I am not an expert, jmo. best of luck with it :beer:

 

[walt460]

P49Y-CY,

Agreed, but I am already old, can't wait for value to rise. I once did pre-1971 Mustangs, but they became mostly show cars, not daily drivers. I like building cars that will be driven often and enjoyed, so I moved to SN95s some time ago.

I like finding desert-state SN95s parked and broken in someone's driveway, then bringing them home to make them back to stock-appearing but FAST cars. I am just finishing a 2003 Cobra. I also have a 2004 Anniv GT almost done and I put a 2004 Mach 1 motor/trans in it so it is a real sleeper, complete Mach 1 interior will go in as well.

 

[P49Y-CY]

P49Y-CY,

Agreed, but I am already old, can't wait for value to rise. I once did pre-1971 Mustangs, but they became mostly show cars, not daily drivers. I like building cars that will be driven often and enjoyed, so I moved to SN95s some time ago.

I like finding desert-state SN95s parked and broken in someone's driveway, then bringing them home to make them back to stock-appearing but FAST cars. I am just finishing a 2003 Cobra. I also have a 2004 Anniv GT almost done and I put a 2004 Mach 1 motor/trans in it so it is a real sleeper, complete Mach 1 interior will go in as well.

sounds like an excellent hobby walt460 :beer:

I am getting old too, and I always think that we never know what the future holds, so it is best to just enjoy the cars and drive them now while we have them.

would I be correct in saying that it was probably just a matter of time that made those pre-71 cars become show cars instead of daily drivers? and even then it was only certain styles/combos that were destined to become "classics"

 

[walt460]

sounds like an excellent hobby walt460 :beer:

I am getting old too, and I always think that we never know what the future holds, so it is best to just enjoy the cars and drive them now while we have them.

would I be correct in saying that it was probably just a matter of time that made those pre-71 cars become show cars instead of daily drivers? and even then it was only certain styles/combos that were destined to become "classics"

Yes, you are correct. The "classics" and "performance" models become Collector Cars and the old 6-cyl cars get modified all-to-heck and become someone's hot rod. Either way, they are not likely to be daily driven over time.

I bet I will be moving on to SN197s soon as my supply of wrecked SN95 Cobras and Mach 1s is drying up. I have been buying for some recyclers locally and one guy in Michigan for Cobra parts, and they just do not get the cars as insurance claims much anymore.

 

[Stanger00]

Paint match the burnt panels and paint correct the other panels. That should save you from having to do a full body re-paint.

But I see you want it to be perfect. I also think 2-2500 is a fair price for it and you can still make a little on it. I dont think you will go upside down and the right buyer will purchase a TB Bullitt with over 100k on the body for 10-12k.

 

[walt460]

I am thinking your $2000-2500. is where it needs to be. Seller is asking way above that, and he thinks he can part-it-out for more than that. (Parting out a mustang that is one of only 723 made and still has a straight never-wrecked body?) I have some serious negotiations ahead!

I will post results when a deal is made, or not.

 

[Stanger00]

It would be tough to part out and clear 2-2500. I think the trans (500), PI Motor (750-800), rear end (200), brakes (200). The bullitt intake 500-600. Since the seats are in bad shape and the foam is still good you could get 400-500 for front and rear. That is what I think fair prices are for those parts on a bullitt...But those are pretty worn parts so the calipers may need to be rebuilt, the motor may need valve seals, the differential may need new clutches and the seat covers are beat to hell. I tried selling my PI long block for 800 and then 500 and then offered to deliver and no one ever called me....Go up to a max of $4k and paint the sun burnt panels and paint correct the rest so you dont use up too much of your profit margin.

I see in my local zip code that a fair condition Bullitt is worth $7k. I wouldnt pay 7k for that car, ever. It looks like shit. It will take a lot of work and some money just to get it in fair condition.

 

[Chris01Bullitt]

I sold my bullitt for $7500 about two years ago with 98k miles on it and it was in perfect condition...

 

[AntiHeightPunk]

2k-2.5k

 

[flyboy1294]

Considering the condition of the paint and interior, I would say $3000 max. If you were going to flip it, I would probably pass it up.

 

[HighCal]

Check out the carfax. From what I'm told autocheck usually misses a bunch of stuff. People use autocheck when selling cars since some stuff doesn't show up but anyways I don't think its gunna be worth the money flipping it. Very narrow profit potential especially at the price your paint buddy charges you

 

[walt460]

HighCal,

Thanks for your thoughts. I ran the CARFAX, and it shows some more details as to service, but still is a clean report matching AutoCheck. It actually shows the mileage being higher that the owner claimed by 8K.

Yeah, my paint guy is expensive, but he is good. I would not use him if I was just quickly flipping the car. I use him when I want the car to be "like new".

I sure agree that this project would be a lot of work for minimal profit, if not a loss. I am now looking for a customer who would want the finished car, maybe I can do it with "other people's money".

 

[HighCal]

HighCal,

Thanks for your thoughts. I ran the CARFAX, and it shows some more details as to service, but still is a clean report matching AutoCheck. It actually shows the mileage being higher that the owner claimed by 8K.

Yeah, my paint guy is expensive, but he is good. I would not use him if I was just quickly flipping the car. I use him when I want the car to be "like new".

I sure agree that this project would be a lot of work for minimal profit, if not a loss. I am now looking for a customer who would want the finished car, maybe I can do it with "other people's money".

Your welcome buddy. Best of luck to you as well. It's nice knowing some people take the time to do the stuff you enjoy doing.:beer:

 

[Stang Lover]

I sold my bullitt for $7500 about two years ago with 98k miles on it and it was in perfect condition...

Crap. Mine is rolling on 95K & i'm hoping to get 8.5 out of it.