Found R-Code 1968 Cougar Today

This is place to talk anything Cougar or Cougar related.
karguy12
Registered Member
Posts: 109
Joined: 03 Sep 2018, 19:31

Re: Found R-Code 1968 Cougar Today

#151

Post by karguy12 » 12 Oct 2018, 09:14

Al Bundy wrote:
12 Oct 2018, 08:49
Personally I think $200K is a stretch for one without the original drive train and the extensive sheet metal work it's going to need. Still a great car that I'd love to own. Unfortunately I have a severe rust allergy.
I agree it has it's issues. On 1968's a lot of these cars had the VIN stamped on the cylinder head. The rest was just "date code" correct. Not so much a biggie on an ex drag car. I could do this car nice for about $60,000 with me providing much of the labor.

User avatar
mo2872
Registered Member
Posts: 3211
Joined: 02 Jun 2011, 18:59
Location: Collinsville, Ok
Contact:

Re: Found R-Code 1968 Cougar Today

#152

Post by mo2872 » 12 Oct 2018, 09:24

Al Bundy wrote:
12 Oct 2018, 08:49
Personally I think $200K is a stretch for one without the original drive train and the extensive sheet metal work it's going to need. Still a great car that I'd love to own. Unfortunately I have a severe rust allergy.
Plus a previously purchased project plethora!
T3
Yup, that guy, the hooligan.

Somewhere out there is a tree, tirelessly producing oxygen so you can breathe. I think you owe it an apology.

User avatar
BAust
Supporting Member
Supporting Member
Posts: 589
Joined: 18 Oct 2011, 16:36
Location: Silverton, Oregon

Re: Found R-Code 1968 Cougar Today

#153

Post by BAust » 12 Oct 2018, 09:36

Well this will sure be a fascinating story and car to watch. It already has been thus far.. ;)

As far as this Ebay auction goes..If more than one guy is really wanting it and knows what it's going to take to get it restored, there's not going to be much difference between paying 15k or 40K..Because that is just the beginning and the buyer's likely going to know that a lot more is facing him/her down the road.

I think it's a 100-120k car easily all "done" but there was the originality factor that really played a huge part on the Owl Museum's GT-E and other recent high-selling Cats. If done to perfection and marketed well and brought to a high profile auction I see no reason it's not a 150k car completed, despite a transplanted drivetrain.

This will NOT have be a rebody, at least, down the road. But it's going to need to fall into the hands of a collector or restorer with the finances to hold it for years, pay for a ton of talented labor and rare parts, and get it to the finish line of restoration. That can all take several years of course. But this is definitely one of the best VINs and combinations one could ever find in a first-gen Cougar.

You find a handful of GT-Es for sale while working on this car to get it to finished status and not ever see another one pop up!
Brian Aust

1967 XR-7 GT 4 Speed


1968 GT-E XR7

karguy12
Registered Member
Posts: 109
Joined: 03 Sep 2018, 19:31

Re: Found R-Code 1968 Cougar Today

#154

Post by karguy12 » 12 Oct 2018, 11:50

BAust wrote:
12 Oct 2018, 09:36
I think it's a 100-120k car easily all "done" but there was the originality factor that really played a huge part on the Owl Museum's GT-E and other recent high-selling Cats.
Yes, the Owlshead car was so wonderfully original. But it DID have worn and cracked paint, worn and cracked seats and some rust and two previous collision repairs too and still brought $228k. With a correct concourse restoration and "date coded" everything, I do think this car would top out over the $200k mark just based on its rarity and configuration even with its NOM engine since really, for the most part those numbers are only date codes other than one cylinder head or a barely legible if at all readable stamp. The currently installed parts that would be removed to make way for the date code correct parts would also bring a pretty penny too. I'm sure there is an early built 1969 CJ Mach1 or Shelby needing an engine or a 1970 Boss429 needing a trans somewhere. The point is that with the value of the finished car, there is still room to restore this car and not be upside down in it as long as the bidding doesn't go too crazy. It will be fun to watch. :)
Last edited by karguy12 on 12 Oct 2018, 20:18, edited 1 time in total.

User avatar
propayne
Registered Member
Posts: 1306
Joined: 14 Nov 2011, 14:46
Location: Richmond, Virginia
Contact:

Re: Found R-Code 1968 Cougar Today

#155

Post by propayne » 12 Oct 2018, 12:48

It's an awesome Cougar that deserves to be saved and I'm sure will be saved.

- Phillip

karguy12
Registered Member
Posts: 109
Joined: 03 Sep 2018, 19:31

Re: Found R-Code 1968 Cougar Today

#156

Post by karguy12 » 12 Oct 2018, 12:55

Phil Parcells was kind enough to share some of the data from the 1968 R-code Cougar registry.....

To partially answer your question of how many 4:30 68.5 cars there were - we have 7 reported to the database. 5 are 4-speeds, and 2 are C6's. 6 are standard (91) Cougars, and one is an XR7. None of them are restored, and 3 are possibly parted out.

No wonder there have not been any sold in forever.

PacificaXR7GT
Supporting Member
Supporting Member
Posts: 103
Joined: 23 Aug 2018, 20:40
Location: Pacifica, CA

Re: Found R-Code 1968 Cougar Today

#157

Post by PacificaXR7GT » 13 Oct 2018, 08:44

Anybody have an informed opinion of what the cost of bodywork and rust repair would be on the car?
Steve
CCOA #9998
1968 XR7 GT 4 speed - Augusta Green / Dark Ivy Gold


karguy12
Registered Member
Posts: 109
Joined: 03 Sep 2018, 19:31

Re: Found R-Code 1968 Cougar Today

#158

Post by karguy12 » 13 Oct 2018, 09:06

About $10k-$12k labor I imagine. I actually do that kind of work and have my entire life. Just getting older makes it harder for me. Add another $2k-$4k for a good parts car for the roof, hood and decklid and all of those little things that a parts car would make easier. Having restored a slew of Mustangs fastbacks, most of them need full floors, toe boards and toque boxes anyway. Tons of people have built fatbacks by taking the roof off of a rusty fastback and putting it on a solid coupe when fastback values are a fraction of this car. Major rust to me is like restoring two cars at the same time. It just takes a little more time.
Last edited by karguy12 on 13 Oct 2018, 12:33, edited 1 time in total.

User avatar
badcatt
Registered Member
Posts: 1685
Joined: 29 Nov 2011, 14:13
Location: Camano Island WA

Re: Found R-Code 1968 Cougar Today

#159

Post by badcatt » 13 Oct 2018, 09:28

This car is now up to $11K. And climbing... I hope it gets a good restoration.
Neal Jacobson.
1970 XR-7 White "Ginger"
1970 XR-7 Convertible Blue For Sale.
1971 XR-7 Bright Blue with Blue "Up Beat" interior For Sale.
1970 Standard 428CJ Competition Yellow The New Money Pit.
See ya on the hiways,
The political and commercial morals of the United States are not merely food for laughter,
they are an entire banquet
.
- Mark Twain -

User avatar
Mike from NH
Registered Member
Posts: 82
Joined: 24 May 2018, 06:58

Re: Found R-Code 1968 Cougar Today

#160

Post by Mike from NH » 13 Oct 2018, 11:55

PacificaXR7GT wrote:
13 Oct 2018, 08:44
Anybody have an informed opinion of what the cost of bodywork and rust repair would be on the car?
I have a restorer near me that charges $60 an hour. To bead blast, prep and paint a door is 8 hours, a hood is 12-14 hours. Recently I bought fairly clean fender and door for $800 a piece for a 69. A full repro floor pan is around $400.
1969 convertible 351W

Post Reply