Every Mustang Generation's Most Valuable Models, According To Hagerty

Here's what makes the most valuable Mustangs from each generation so special.

The Ford Mustang is truly an iconic car, not just in America, but also for the global automotive scene. Few cars have had the kind of prolific impact that the Mustang has. So much so, that the Mustang is the world's best-selling sports car over the last ten years combined! While the Mustang is certainly not the rarest or most special car from Ford, certain models from each generation have made a lasting mark in the automotive history books.

Looking at data from Hagerty and Classic.com, we have compiled a list of the most valuable Ford Mustang models from each generation.

Here is where everything started: the first generation Mustang. There is a lot you should know about the first generation Mustang, but not all models were created equal. The 1969-1970 Boss Mustang 429 is hands down the most special of the lot. That is, of course, if we do not consider the Shelby-tuned 1965 Mustang GT350R prototype which sold at auction for a mind-boggling $3.85 million!

Related: A Detailed Look Back At The 1965 Shelby GT350R

This 429 is special because Ford had one goal while building it: to see just how big of an engine they could fit in their small two-door car. The result was a car that was built to effectively meet NASCAR's homologation rules, and featured a race-ready fire breathing V8. This car was the epitome of extreme performance back in the day, so much so, that this car's hood scoop continues to be the largest one ever fitted to a production Mustang from the factory. Ford ensured that the Boss 429 was a complete performance car by fitting it with an upgraded suspension setup, and performance-focused power front disc brakes.

It would be fair to assume that the Boss 429 was a hot seller, after all, it was truly a mind-boggling performance car for the time. However, that could not be farther from the truth. Hardcore Mustang fans did not like how this car was a guinea pig for Ford's new NASCAR engine. As a result, sales remained low for both production years, at just 857 in 1969 and 502 in 1970. In this case, the lower production numbers worked in favor for collectors since average values for these hover around the $259,000 mark, with well-kept examples going for as much as $605,000, as per data from Classic.com.

Production

1969-1970

Units Produced

1,359

Unique Features

Magnesium valve covers and NASCAR-style forged internals

Displacement

429 cu-in (7.0-Liter) V8

Power

375 hp

Trim

Avg. Used Market Range

Original MSRP

Boss 429

$235,000-$605,000

$4,740

The second generation represented an important, albeit awkward, phase for the Mustang and cars that competed with it. Over the years, it has become a car that the automotive community loves to hate. That is because closer attention was paid to efficiency, leading to smaller and weaker engines. While other cars in the segment came with weaker engines too, they compensated by slapping on bigger fenders. So, while the cars didn't go faster, they could at least look faster. Ford, however, went a different way. Instead of chasing looks, they tried to do the best with what they were given.

The result was a car that still retained some of the sporty characteristics that the first-gen became so well-known for. The Mustang II Cobra II had the best engine out of the lot, a 4.9-liter small block V8. While it was down on power, the smaller size meant that this model of the second-gen Mustang was still one of the better performing cars of its time. A 90-horsepower V6 variant was on offer, too, but the V8 is easily the one to go for.

Since these cars are still quite underrated, one can often find a great deal on well-kept used examples. However, these days might soon come to an end considering that they are the fastest appreciating out of all other models mentioned in this list on a percentage basis.

Production

1976-1978

Units Produced

45,216 (out of 534,150 in total)

Unique Features

A much smaller car, representing an important phase for the Mustang

Displacement

302 cu-in (4.9-Liter) small block “5.0” V8

Power

130 hp

Trim

Avg. Used Market Range

Original MSRP

Mustang II Cobra II

$20,100-$31,900

$5,000

Not only is the third generation 1993 Mustang 5.0 SVT Cobra R one of the rarest Mustangs ever produced, it is also one of the one of the most hardcore variants out there. So much so, that Ford ensured that each one of the lucky 107 buyers held a valid and active racing license. The only color offered was the Vibrant Red, and it is unlikely that anyone complained, considering that this shade really suits the track weapon. The Cobra R was clearly a very, very special car for Ford.

Under the hood, the Cobra R featured Ford's small block 4.9-liter V8. This motor was cooled by a new high-performance radiator. To make sure that the car tackled every thing the track threw at it, Ford fit this Mustang with a race-ready suspension setup, better brakes, and even a better power steering cooler. The American motoring giant was serious about weight savings, too, managing to shed 60 lbs off the standard Mustang.

Production

1993

Units Produced

107

Unique Features

The car came without a warranty from Ford

Displacement

302 cu-in (4.9-Liter) small block “5.0” V8

Power

235 hp

Trim

Avg. Used Market Range

Original MSRP

Mustang 5.0 SVT Cobra R

$85,000-$143,000

$25,692

The 2000 Mustang Cobra R is often considered one of the greatest Mustangs ever. While it must have been difficult for Ford to top the 1993 Cobra R, they hit the nail on the head with its successor. This car was still just as exclusive and performance-focused, but it featured a hand-built SVT engine which was mated to a six-speed manual gearbox. Interestingly, the cylinder heads from this engine were also used in the 2005 Ford GT.

Related: This Is What Makes The 2005-2006 Ford GT So Special

Similar to its predecessor, the 2000 Cobra R included no creature comforts to shed all excess weight, and was also available in just one color. It was also just available as a coupe. Ford did a great job of understanding what a Cobra R owner would want, since they partnered with several brands that specialize in high-performance car parts. The list includes names such as Recaro, Brembo, McLeod, Eibach, and BF Goodrich, among many others. This translated into a 0-60 mph time of around 5 seconds, and a surprisingly good track performance even in the wet. The result was that all 300 cars were sold out overnight, making this car one of the most successful cars in the Cobra R series.

The plethora of performance upgrades also meant that this Mustang could easily hold its ground against a C5 Corvette Z06, a true high-performance sports car. However, in doing so, Ford and SVT pushed costs quite a bit, resulting in a Corvette-rivaling $55,000 asking price.

Production

2000

Units Produced

300

Unique Features

Hand-built SVT engine, dual Borla side-exiting exhausts

Displacement

5.4-Liter DOHC Modular V8

Power

385 hp

Trim

Avg. Used Market Range

Original MSRP

2000 Mustang Cobra R

$41,800-$132,500

$55,845

The Mustang GT500 is iconic in many ways. One of them being its supercharger. While the Hellcat made headlines for its signature supercharger whine and performance, the Mustang GT500 was the faster car than the Hellcat in many ways. A big, burly V8 up front meant that the car was already fast, and the supercharger turned the knob up to eleven. The car produced over 660 hp, a figure that could rival supercars of that generation. With a 0-60 mph time of 3.5 seconds and quarter mile time of just 11.6 seconds (when stock), it had the straight-line speed of supercars, too. The GT500 also came with a few optional packages that buyers could choose from.

The GT500 convertible is valued a lot higher than its coupe counterpart, and cost $7,000 in the used market, on an average. Average values for the Shelby-tuned GT500 Super Snake are considerably higher thanks to even more performance upgrades, but this list considers just those Mustangs that rolled directly off Ford's factory floors.

Production

2013-2014

Units Produced

1,722

Unique Features

Cross-drilled engine blocks and heads and a carbon fiber driveshaft

Displacement

5.8-Liter V8

Power

662 hp

Trim

Avg. Used Market Range

Original MSRP

Mustang Shelby GT500 Convertible

$49,900-$92,900

$60,110

With over seven years of experience in the automotive space, Krunal has lived and breathed cars since before he could talk. He has worked with several automotive and tech publications and has even worked on campaigns directly with supercar brands as a marketing and PR consultant. When he isn't writing or driving cars, he is planning his next travel adventure. Outside of cars and motorsports, he is a finance educator and is passionate about brands and business.