1965 Ford Mustang

Indy 500 Pace Car Coupe
Mecum Indy 2022
Friday, 13 May - Saturday, 21 May
Sale Price
$75,000 - $85,000
Est. Range
20 May 2022
Sold Date
Lot Number
Older restoration
Mecum Auctions
Auction House
Chassis no. 5F07F116128. White over white vinyl. 260/164hp, automatic, wheel covers, narrow whitewalls, power steering, original radio.

Evaluation: One of 185 Indianapolis Pace Car Edition Mustangs, rarer and less well known than the Camaro Pace Cars. Represented as one of just 20 thought to exist according to the registry. Very good paint, chrome, and interior. Even gaps. Tidy underneath. Restored to high standards for what it is. Nothing all hat remarkable about a 260-powered ‘64 1/2 Mustang, but in this case the decals make a big difference.

Bottom Line: How much of a difference? In this case, the sale price is about twice what a normal 1964 1/2 Mustang notchback in this condition would bring. Considering the serious rarity, especially among early Mustangs where “rarity” is often defined by an arbitrary combination of options (“it’s one of one in Dusk Rose paint with an AM radio, air conditioning and an automatic!”) 70 grand doesn’t seem all that expensive. That said, the last time Mecum sold one of these cars at Indy 2020 it brought $79,750, so there’s consistency for you.

by Andrew Newton
4 June 2022
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Condition definitions
Condition #1: Concours
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is “concours.“
Condition #2: Excellent
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is “excellent.“
Condition #3: Good
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. “Good” is the one word description of a #3 vehicle.
Condition #4: Fair
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. “Fair” is the one word that describes a #4 vehicle.
Condition #5: Poor
Running, but battered, incomplete, and perhaps rusty.
Condition #6: Parts car
Parts car.
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.