The ultimate buyer’s guide to the Ford Mustang, with valuation articles written by SCM expert analysts, past auction sales results, cars currently for sale, recommended books, and more–from the world’s leading collector car experts.
For 38 years, Sports Car Market has been the trusted monthly guide to the collector-car world—combining expert analysis of the cars, the market, values, trends and the sales that shape the hobby. Our nearly 60 expert reporters bring decades of deep, marque-specific knowledge to every issue, helping you understand not just what sold and for how much, but why it mattered.
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This Buyer’s Guide is reviewed and edited by Sports Car Market's editorial staff using SCM's 38 years of collector-car reporting, expert analysis and auction data. Historical and technical information is checked against multiple sources. SCM's market analysis is based on our proprietary Platinum Auction Database and the work of our marque specialists. If you find something here that we should improve, please help us make this page better, and send your thoughts to [email protected]
Last updated: September 30, 2026
Introduced in April 1964 as an early 1965 model, the Mustang combined sporty styling, a long hood and short rear deck with mechanical components derived largely from Ford’s compact Falcon. Its enormous range of engines, body styles and options allowed buyers to configure anything from an economical commuter to a serious performance car, a formula Ford has continued for more than six decades.
The first-generation Mustang (1965–73) began as a hardtop and convertible, with the fastback joining the lineup shortly afterward. The base engine was a 170-ci thriftpower inline-six, which was quickly replaced by a 200-ci inline-six late in the 1965 model year. As well, 260- and 289-ci V8s were offered. Performance quickly became central to the Mustang’s identity.
The 1965 Shelby GT350, developed by Carroll Shelby, transformed the fastback into a formidable performance and competition car. For 1967, the Mustang grew larger, allowing Ford to install big-block engines such as the 390.
Another substantial restyling arrived for 1969, when the lineup expanded to include the Mach 1, Boss 302 and Boss 429. The Boss 302 was developed in connection with Trans-Am racing, while the extremely valuable Boss 429 existed largely to homologate Ford’s 429 engine for NASCAR competition. The Mustang grew again for 1971–73, becoming longer and heavier while offering engines as large as the 429. Increasing emissions requirements, insurance costs and changing market conditions brought the original high-performance era to an end.
The Mustang II (1974–78) was dramatically smaller and was based on Ford’s Pinto architecture. Introduced during the fuel crisis, it emphasized economy and comfort rather than outright performance. The 1974 Mustang II offered no V8–the standard engine at launch was a 2.3-liter inline-four, with an optional 2.8-liter V6, but a 302-ci V8 returned for 1975. Sportier appearance packages included the Mach 1 and Cobra II, while the 1978 King Cobra provided aggressive graphics and styling. Although often overlooked by collectors, the Mustang II was commercially successful and helped keep the Mustang alive during a difficult period for American performance cars.
The third-generation “Fox-body” Mustang (1979–93) returned the model to a stronger performance trajectory. Built on Ford’s Fox platform, it was lighter and more practical than its predecessor. The familiar 5.0-liter V8 became increasingly important during the 1980s, particularly after higher-output versions appeared.
The 1984 Mustang SVO took a different approach with a turbocharged 2.3-liter four-cylinder, sophisticated suspension and four-wheel disc brakes. Fuel injection became standard on the 5.0 for 1986, and a major styling update arrived for 1987. The generation culminated with the limited-production 1993 SVT Cobra and Cobra R, which previewed Ford’s renewed commitment to factory high-performance Mustangs.
The fourth-generation SN95 Mustang (1994–2004) replaced the angular Fox-body styling with a more rounded design while retaining a heavily revised version of the Fox platform. The 5.0-liter V8 initially continued in the Mustang GT, but for 1996 Ford replaced it with the overhead-cam 4.6-liter Modular V8. SVT Cobra models offered substantially more performance, including a DOHC version of the 4.6. The Mustang received its sharper-edged “New Edge” styling for 1999. Notable models included the 2000 Cobra R, the revived 2001 Bullitt, and especially the supercharged 2003–04 SVT Cobra, commonly called the “Terminator,” which produced 390 advertised horsepower. However, dyno testing famously revealed that Ford was being conservative—most stock Terminators put down close to 360–380 horsepower at the rear wheels, meaning real-world flywheel output was well over 400 hp.
The fifth-generation S197 Mustang (2005–14) introduced retro-influenced styling inspired by the 1960s cars and moved to a substantially newer platform. Early GTs used a 4.6-liter V8, while the Shelby GT500 returned for 2007 with a supercharged 5.4-liter V8. A major mechanical upgrade came for 2011, when the GT received the new 5.0-liter Coyote V8, restoring a famous Mustang displacement designation while providing dramatically improved performance. The 2012–13 Boss 302 combined a high-revving version of the Coyote with extensive chassis improvements. The 2013–14 Shelby GT500, with its supercharged 5.8-liter V8 producing 662 horsepower, was the most powerful production Mustang to that point.
The sixth-generation S550 Mustang (2015–23) represented another major engineering change. For the first time, all Mustangs received independent rear suspension, replacing the solid rear axle traditionally used by mainstream models. The lineup included a turbocharged 2.3-liter EcoBoost four-cylinder and the 5.0-liter Coyote V8. The Shelby GT350, introduced for 2016, used the extraordinary 5.2-liter flat-plane-crank “Voodoo” V8, producing 526 horsepower and giving the Mustang a much more track-focused character. The 2020–22 Shelby GT500 used a supercharged 5.2-liter V8 producing 760 horsepower and a seven-speed dual-clutch transmission. Other notable variants included the Bullitt and Mach 1.
The seventh-generation S650 Mustang, introduced for 2024, retained the basic architecture of the S550 but brought substantially revised styling, electronics, interior technology and powertrains. The standard Mustang continued with the turbocharged 2.3-liter EcoBoost, while the Mustang GT retained an updated 5.0-liter Coyote V8. Importantly for enthusiasts, Ford continued to offer a manual transmission with the V8.
The major new performance model was the Mustang Dark Horse, featuring a 500-horsepower version of the 5.0-liter V8 along with upgraded cooling, brakes, suspension and available track-focused equipment. Ford also expanded the Mustang into increasingly specialized competition models, including the Mustang GT3 and GT4, while the limited-production Mustang GTD pushed the platform into supercar territory with a supercharged 5.2-liter V8, advanced aerodynamics and a rear-mounted transaxle.
Important Sales Reviewed by SCM Experts
In each month’s issue for the past 38 years, SCM’s analysts have reviewed 5 to 7 significant cars sold at auction, and discuss what options, history, or details made that particular more or less valuable. They give their expert opinion on the market for these cars, and whether this car was well bought or well sold. If you’re thinking of purchasing a Ford Mustang, you’ll likely find these profiles critical in helping you make the right decision. Each of the following is an article from our print magazine on a Ford Mustang sold at auction.
This highly optioned 1970 Ford Mustang 428 Cobra Jet convertible is powered by a date-code-correct 428 Cobra Jet engine, backed by a cast-iron tailshaft C6 transmission and date-code-correct N-case 3.00-gear ratio limited-slip rear end with 31-spline axles. Only 47 convertibles were built with the 428 Cobra Jet engine, and of those, only 14 were Q-codes. […]
429-ci OHV Q-code V8 Holley 735 CFM 4-barrel carburetor 375 hp at 5,600 rpm 4-speed close-ratio manual transmission Competition coil-spring front suspension with Traction-Lok differential Less than 3,500 original miles Restoration by marque expert Bob Perkins Multiple award winner including Mustang Club of America “Triple Crown” in 1990 Extremely well documented with original window sticker, […]
428 Super Cobra Jet R-code Automatic Power steering Power disc brakes Factory shaker hood Factory oil cooler Frame-off restoration to show-standards From the Davis Collection Popular Videos about the Ford Mustang Mach 1 428 SCJ 1969 Ford Mustang Mach 1 428 SCJ Kumbera Motors 76,504 views 1969 FORD MUSTANG MACH 1 428 SCJ DRAG PACK […]
The hero car driven by Steve McQueen in the 1968 Warner Bros. film “Bullitt” Featured in the majority of scenes from the legendary car chase through San Francisco Sold to Warner Bros. employee Robert Ross following the film debut Popular Videos about the Ford Mustang Introducing our New Arrival! 1967 Ford Mustang Fastback Restomod 😍🔥 […]
Number 38 of 250 cars built in 1995 5.8-L V8, 5-speed manual Manual seats and windows, rear seat delete Initially sold only to customers holding a competition license All original, no dealer prep 318 actual miles Paint correction, recent ceramic coating Factory invoice, window sticker, Ford Certificate of Authenticity Popular Videos about the Ford Mustang […]
Highly modified 351-ci V8 built by Jack Roush Close-ratio 4-speed with Hurst shifter 4.11 locked rear end Originally sold unfinished to Ed Hinchliff, who assembled the car to Kar-Kraft blueprints with the help of former Kar-Kraft chassis engineers Lee Dykstra and Mitch Marchi Campaigned in period; accompanied by SCCA logbooks No videos found for "Ford […]
This Cobra R is #73 of 107 made No dealer prep, 589 actual miles Original grease marks and stickers Radio delete, back seat delete, a/c delete Comes with window sticker and original battery Popular Videos about the Ford Mustang Cobra R MotorWeek | Retro Review: 2000 Ford Mustang Cobra R MotorWeek 384,424 views
351 Ram Air Factory 4-speed 38k actual miles True survivor with 95% original paint Original North Carolina car coming from a private collection First time offered for sale All original sheet metal Popular Videos about the Ford Mustang Mach 1 MISSING '73 Ford Mustang Mach 1… FOUND 40-YEARS LATER! Adventures With Purpose 2,866,359 views Surprising […]
This is the very first Ford Pilot Plant/Pre-production Mustang hard top. This 1965 Mustang started the Pony Car revolution in American car building, resulting in the later creation of the Camaro and Firebird. It was hand-assembled at the Ford Pilot Plant and is one of three known existing Pilot Plant Mustangs to survive. Popular Videos […]
This is an original car from the movie “Gone in 60 Seconds.” This car was used in the street scenes in the movie, and it comes with a Certificate of Authenticity from Cinema Vehicle Services signed by Ray Claridge, president of Cinema Vehicle Services. Also included is a license plate that was on the car […]
This 1969 Mach 1 Mustang is documented by its Marti Report as one of four produced with these options. It is powered by its matching-numbers 428-ci Cobra Jet engine with correct Holley carburetor, backed by a C6 3-speed automatic transmission, and has resided with the same California owner for the past 15 years. This highly […]
Powered by a Hi-Po 289-ci V8 and 4-speed manual transmission, this K-code Mustang recently completed a rotisserie restoration. The exterior features factory-correct Caspian Blue paint with white stripes. It’s equipped with a Ford nine-inch rear axle, Special Handling Package, 8,000-rpm tachometer and vinyl bucket seats. Popular Videos about the Ford Mustang Fastback Introducing our New […]
1993 Mustang SVT Cobra with Vortech supercharger 60k actual miles Owner’s manual and two sets of original keys Number 378 of 4,993 built, with certificate from Ford Parked in a barn since 2005, brought back to life with new fuel tank, fuel pump, alternator, water pump, radiator, drilled and slotted rotors, shocks and struts, tires […]
This Ford Mustang is very special thanks to its finish and history. It was made especially for Henry Ford II, as confirmed by a certificate from Ford France, dated January 3, 1991, which states: “The Ford Mustang serial number 6F08K285715 was the vehicle commissioned by Ford for Henry Ford II during his stays in France. […]
Carroll Shelby’s personal GT350 H On display at Shelby Automobiles since 2008 Desirable Hertz “Rent-a-Racer” Shelby Iconic Wimbledon White with factory-painted Le Mans stripes The ultimate in provenance and ownership history No videos found for "Ford Mustang GT350 H fastback".
5.0-L DOHC 32-valve V8 6-speed manual transmission 945 miles from new There was no mistaking the Boss 302 for other run-of-the-mill Mustangs. Like the original, its unique exterior décor set these cars apart, as if the running gear didn’t do that. Produced for just two years, a total of 3,249 Boss 302 Mustangs were built […]
428-ci, 335-hp Cobra Jet V8 engine 4-speed manual transmission Deluxe Marti Report confirms engine, transmission and colors Professionally restored by Signature Auto of Gahanna, OH — completed in June 2016 Restoration utilized many original components Reported this includes engine and transmission GT Equipment Group Very detailed throughout Philco AM radio Argent wheels No videos found […]
This LX hatchback is powered by a 5.0-liter electronic fuel-injected high-output engine and 5-speed manual transmission. It’s equipped with power steering, power brakes, power windows and air conditioning. Finished in Cabernet Red with Scarlet Red interior, it features the original window sticker, and all factory build/shipping markings and decals are still on the car. It […]
This all-original, unrestored survivor, 1965 convertible Mustang was purchased new in October 1964. Since then it has remained in the same family and has been garaged since new. It has 14,633 original, documented miles. Like-new inside and out, it’s in pristine condition and runs like a top. It has original everything. The convertible top is […]
K-code 289-ci HiPo V8 engine 4-speed manual transmission Restored by marque expert Fred Glazier Jr. Displayed at the Simeone Museum Very correct with numerous and extraordinarily rare specific K-code FoMoCo parts All exterior sheet metal is original Ford (as noted by Fred Glazier) Customer-ordered per factory buck tag Deluxe “Pony” interior Very rare factory build […]
This is an extremely well-preserved, all-original 1993 Ford Mustang Cobra. This outstanding car comes with extensive documentation including multiple 100-point judging sheets from the Mustang Club of America, the original window sticker, registration history back to 1994, and Ford SVT vehicle certification with build date of 5/14/1993. It was number 3,162 of 4,993 Cobras built […]
Here is the real deal: a factory S-code 390 4-barrel big block and an original factory 4-speed. One of only 65 built in this paint and trim code: factory Acapulco Blue with black interior and the black-out hood treatment. This GT Mustang is verified with a Deluxe Marti Report and the original Buck Tag. It […]
1966 Ford Mustang Notchback No. 16 built by Shelby American One of 16 1966 SCCA A/Sedan Group 2 cars Largely unrestored and never raced Painted orange by original owner Sat from 1977 to 2014 Copy of letter from Rick Kopec of Shelby American Automobile Club verifying authenticity 289/350-hp Trans-Am spec engine Aluminum high-rise intake Holley […]
1970 Ford Mustang R-code fastback 428-ci Cobra Jet V8 engine 4-speed manual transmission Complete frame-up restoration just completed Power disc brakes Steel wheels with dog-dish hubcaps One of one factory black/black with console R-code car One of four factory black/black R-code cars Elite Marti Report with window sticker yt_popular_videos: no make/model provided via shortcode […]
Triple-black A-code Mustang GT convertible 289/225-hp V8 engine Four-speed transmission Four-barrel carburetor GT exhaust Power convertible top Deluxe Pony interior Rally Pac gauges Woodgrain console and dash Chrome luggage rack Fog lamps AM radio Styled steel wheels Double-red-stripe tires High-gloss paint on straight body Raven Black with black interior and top Red GT stripe yt_popular_videos: […]
• The final Kar Kraft Bud Moore Boss 302 Trans Am racer • Completed under the supervision of Bud Moore and sons to 1971 BME specifications • Certificate of Authenticity signed by Bud Moore • Eligible for HSR/SVRA events and a FIA Historic Technical Passport No videos found for "Ford Mustang Boss 302 Trans […]
Complete, no-expense-spared, nut-and-bolt rotisserie restoration done very correctly with attention to detail. This is a true 23,000-mile car and comes fully documented with all of its options on its full Marti Report. 351 M-code V8, 4-speed transmission, Ram Air hood, power disc brakes, stripes and in-dash tach. Fully loaded car. Finished in Grabber Yellow with […]
In the November-December 2013 issue of ACC, Editor Pickering tapped me for an article about two 1969 Camaros, otherwise known as the Camaro Comparo. For this exercise, I’ll be digging into two heavy hitters: a pair of 1969 Ford Boss 429 Mustangs. I’ll label this the 429 Mustang Match-up. Building the Boss The Boss 429 […]
• Visually accurate re-creation with modern updates • Owned by Chad McQueen, son of Steve McQueen • Documented on “Celebrity Rides” TV show • Titled as a 1968 Ford • Ford Racing 347-ci V8 engine • 450 hp • 5-speed manual transmission • RRS front independent suspension, rear RRS three-link setup • 4-wheel RRS disc […]
A Highway Patrol 5.0 Retired Missouri Highway Patrol car One of 25 cars ordered by MSHP in 1993 Seven were Vibrant White with Red interior Ordered new from Shawnee Mission Ford in Shawnee, KS Once retired, it was sold to the last trooper assigned to the car and used for MSHP special events Copy of […]
• One of 50 lightweight Mustangs produced • Delivered to Ford in Dearborn as a marketing vehicle • Factory-sponsored drag car driven by Dave Lyall • Sold to Lyall for $1 to compete in the Super Stock wars • Documented with copies of the window sticker, Lyall’s $1 contract, Michigan title search, Ford internal memos […]
• Believed to be 17,000 actual miles • Boss 302 matching-numbers engine • 4-speed transmission, 3.50 Posi rear end • Documented by the invoice, Protect-O-Plate, warranty card, Elite Marti Report, original drive-out tag, metal dealership tag • Acapulco Blue with black interior • Power steering and brakes • Argent Gray Magnum wheels, rear window louvers • F-60-15 Goodyear […]
These Cobra Rs are regarded as the best-handling Mustangs ever built. Only 300 were made, making this a rare opportunity to own an example of this street-legal race car. But this car is special even among that limited group of 300. This car was ordered by the man responsible for dynoing the engines for […]
All new chassis-up, not restored. Artistic level of fit and finish. Supercharged 418-ci engine, 6-speed Tremec transmission and nine-inch rear end. 24×15 massive rear wheels, fully modern suspension and brakes. Custom interior. Massive sound system and functional “zoomie” exhaust activated from center console. Custom fabricated up-down license plate holder. Custom integrated gas cap and […]
Built to homologate the new 429 “semi-Hemi” engine for NASCAR, the Boss 429 was the most powerful Mustang ever and one of the rarest as well. The engine, intentionally under-rated at 375 horsepower, featured a forged-steel crank, NASCAR rods, four-bolt main bearing caps and large-valve aluminum heads with crescent-shaped combustion chambers. A large cold-air scoop […]
Chassis number: 5F08D110588 Engine number: C6AE6015C Introduced in April 1964 at the New York World’s Fair, and conceived by Lee Iacocca, the Ford Mustang created an overnight nationwide sensation. It offered a winning combination of sporting performance, personal luxury and crisp styling that spawned a new “Pony Car” market and encouraged stiff competition from Detroit’s […]
This Mustang was built in 1965–66 and ran Division Five until October 17, 1971, when it was retired. The best time it ran was 9.97 at 137.4 mph, with a weight of 3,150 lbs with a driver, in Denver. It has always been a race car, so it has never seen bad weather. The body […]
These are one of the few cars where the car is the cheap part Fewer than 900 Boss 429 Mustangs were created for 1969, followed by a smaller run of just 500 copies for 1970, prior to the cancellation of Ford’s corporate racing program. Although the Boss 429 was conservatively rated at 375 horsepower in […]
1970 Ford Mustang 428 Cobra Jet ConvertibleThis highly optioned 1970 Ford Mustang 428 Cobra Jet convertible is powered by a date-code-correct 428 Cobra Jet engine, backed by a cast-iron tailshaft C6 transmission and date-code-correct N-case 3.00-gear ratio limited-slip rear end with 31-spline axles. Only 47 convertibles were built with the 428 Cobra Jet engine, and of those, only 14 were Q-codes. […]Read more
1970 Ford Mustang Mach 1 428 SCJ428 Super Cobra Jet R-code Automatic Power steering Power disc brakes Factory shaker hood Factory oil cooler Frame-off restoration to show-standards From the Davis Collection Popular Videos about the Ford Mustang Mach 1 428 SCJ 1969 Ford Mustang Mach 1 428 SCJ Kumbera Motors 76,504 views 1969 FORD MUSTANG MACH 1 428 SCJ DRAG PACK […]Read more
1968 Ford Mustang “Bullitt”The hero car driven by Steve McQueen in the 1968 Warner Bros. film “Bullitt” Featured in the majority of scenes from the legendary car chase through San Francisco Sold to Warner Bros. employee Robert Ross following the film debut Popular Videos about the Ford Mustang Introducing our New Arrival! 1967 Ford Mustang Fastback Restomod 😍🔥 […]Read more
1995 Ford Mustang SVT Cobra RNumber 38 of 250 cars built in 1995 5.8-L V8, 5-speed manual Manual seats and windows, rear seat delete Initially sold only to customers holding a competition license All original, no dealer prep 318 actual miles Paint correction, recent ceramic coating Factory invoice, window sticker, Ford Certificate of Authenticity Popular Videos about the Ford Mustang […]Read more
