That’s a mean-looking thing, isn’t it? Like a shark, just lurking there, staring at you with those eyes (ok, they’re headlights, but).. This 1969 Ford Mustang Mach I is on Craigslist with an asking price of $18,000. Did I mention that this is an R-Code car? Can you say, 428 Cobra Jet? Thanks to Eric B. for sending in this one! It’s somewhere in the Northeast/Northcentral Massachusetts area.

Ford offered the first-generation Mach I from 1969 to 1971 and they were only available on the SportsRoof, or fastback, cars. I expected to see a flat back hood on this one, but they didn’t all come that way. In decoding the VIN, this car is indeed a 1969, made in Metuchen, New Jersey, it’s a fastback Mach I (there were and are a LOT of clones out there), and it is an R-Code with the optional Cobra Jet 335hp 428ci V8! More on that in a bit, you may want to grab a Kleenex.

I also expected to see a spoiler on the back, but they came in different configurations, it wasn’t an all-or-nothing option package. I can’t believe that the car for sale here actually looked similar to this at one time. It’s amazing what time will do to age cars, and people.. Speaking or age, there will be a bit (bit = lot) of rust work to do on this Mach I. The trunk will need repairs as will the passenger door and there will be lots of work on the underside. Surprisingly, the rear wheel arches are both rock solid, but every square inch will need something, as with any full restoration.

The work doesn’t stop once you open the doors, the interior will also need a full restoration. And, this one has an automatic, which may or may not be more desirable to you personally, but top-dollar-wise, there is no question that a manual transmission would have made this car more monetarily valuable. Speaking of monetary value…

Here’s where this one falls down a bit, at least monetarily. The original Cobra Jet 335hp 428ci V8 isn’t here, this isn’t it, it’s not coming with the car, it’s just not there! (too dramatic?) The original transmission is missing, too. The seller says that although the original 31-spline rear end is there, there is no shaker setup with the car. Which brings us back to the asking price, and the fact that this car is still for sale after being posted on Craigslist for almost three weeks. A fully-restored R-Code Mach I in this configuration would probably be between $75,000-$85,000, or thereabouts. The automatic transmission holds it back a bit, but without the original Cobra Jet engine and original transmission this one won’t approach those numbers. We all know that a full restoration of this car would be $50,000+ if not much more. From what I’ve seen on Mach I internet forums, the asking price for an original car in this condition would be right at the seller’s asking price for this car. But, without the original engine and transmission, I would think it would be closer to $8,000-$10,000? Would the Mustang experts out there have any thoughts as to a value for this car as it sits now, and also in restored condition sans original Cobra Jet engine?