First Ford Mustang kept by original owner valued at $450,000




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First Ford Mustang kept by original owner valued at $450,000

Posted on 10 Sep 2018

When a Ford Mustang broke down the family had a decision to make; sell it for junk or store it in the garage until it could be fixed. The light blue convertible was a family car for 15 years from 1964 before it finally stopped running.

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First Ford Mustang Kept By Original Owner Valued At 450 000

Sitting in a garage until owner Tom retired, it was then discovered the car was the first Ford Mustang sold after reading about one bought the day after theirs . His wife Gail commented  “Tom came to me and said, ‘I think you bought the car a day earlier,’ ” She added. “And, sure enough, he went down to the basement and found the receipt and the owner’s manual. Sure enough, I had purchased the car on April 15.”

Armed with this information they contacted Hagerty Classic Insurance with their evidence that proved their claim. With Ford recently celebrating the 10 millionth Mustang sale it has put Gail in the spotlight. As a guest of Ford the legendary Mustang has been put on display to the public at Royal Oak, Michigan.

With only 68,000 miles on the clock the fully restored car that originally cost $3,447.50 has been valued at between $350,000 to $450,000. Jonathan Klinger, a spokesman for Hagerty, commented “It can be difficult to place a specific value on such a unique car and story," He added. "A car with significant provenance like this – being the original owner of the first-ever sold Ford Mustang – would likely have a premium of around 10 times the current market price,” he said. “Enthusiasts are drawn to the bookends of models. It is stunning that the first-ever sold Mustang is still owned by its original owner”.

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