How Much Is a 1965 Ford Mustang GT “K-Code” Convertible Worth?

The world of vintage Mustangs is filled with different models, configurations, and history. If you’re talking about the 1st-gen, the HiPo K-code is one of the most interesting.

The K-code is perhaps best known for being part of the GT350‘s history. When Carroll Shelby began making his sexy race ponies, he ordered them with a proven high-performance setup, which was the K-code. This spec’s robust V8 also paved the way for later high-performance units like the Boss and Cobra Jet. Its name comes from the “K” letter in the VIN number, which designated this as a Factory High Performance model.

To say that they’re rare would be an understatement, as only 1% of the Mustangs produced between 1965 and 1967 were K-code. The one major advantage was having a 289 cubic-inch V8 that produced 271 horsepower, usually matched to a Toploader 4-speed manual transmission and a 9” rear end with 3:50 gears.

At the time, the Mustang was mainly bought for its looks and its numerous cool customization options. One of the reasons this is so rare comes down to pricing. Hagerty’s latest appraiser video tells us a K-code option cost $442,60 more than the $75 V8 option, which was the 260 cubic-inch. That’s pretty crazy when you consider the average guy base price was $2,427.

1% of 1965 to 1967 Mustangs were this rally spec

Another interesting feature is the Rally Pack, strapped down to the column. In case you’re wondering what’s the actual value, the 8,000rpm tachometer and clock are currently selling for upwards of $500, but the condition is obviously a big deal. And it’s also got the dress-up kit for the V8, at least parts of it. However, this is obviously not going to be the most popular Mustang ever. Since 1965, Ford has made over 10 million of these ponies. Convertibles are usually less popular, and the condition of this example isn’t that great.

This car has been with the same family since 1966, minus a few years. It gets driven a lot and has done over 100,000 miles, which has affected the condition. At the front, the VIN is intact, together with the fenders. However, the rear fenders and trunk floor have all been replaced, possibly because they liked to rust. Taking all these things into consideration, the video puts a value of $50,000 to $55,000. Obviously, it’s only going to go up with time.

The other car getting a value check is a 1986 Alfa Romeo GTV-6 that’s been owned by the same guy since it was two years old. This is a reminder of why Alfa Romeo’s return to America was such a big deal. The company used to be known for sports cars that didn’t look or drive like your typical motor. They had flair, an obtainable Italian flamboyancy.

Jeremy Clarkson use to own an Alfa Romeo GTV-6 and called it the best-sounding car ever. He bought another one for an episode of The Grand Tour and probably still has it at the famous farm. I bet he’d hate that American-style bumper.



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