K-Code 1965 Mustang Owned by Gary Thomas Goes on Sale, Priced Accordingly

The early models, also referred to as 1964 1/2 Mustangs, could be ordered with a unique mix of six cylinders and V8 engines, starting with the 170 (2.8-liter) Thriftpower rated at 105 horsepower. A few months later when Ford officially kicked off the production of the MY 1965, this engine was dropped and replaced with the 200 (3.3-liter) Thriftpower, this time with a power increase to 120 horsepower.

Also exclusive to the 1964 1/2 Mustang was the 260 (4.3-liter) V8 with a 2-barrel carburetor and rated at 165 horsepower. This option was completely ditched on the ’65 Mustang.

The icing on the Mustang cake, however, was the K-code version. Any first-gen Mustang sporting the letter K in the VIN is a Factory High-Performance model, which means it rolled off the assembly lines with a 289 (4.7-liter) HiPo unit rated at 271 horsepower thanks to dealer-installed under-the-hood upgrades.

The K-code Mustang was extremely rare until 1967, and it’s believed this particular model accounted for just 1 percent of the entire production in these first years on the market. In other words, finding a K-code Mustang today is something extremely hard, let alone if it comes in mint condition.

Enter this 1965 Ford Mustang 2+2 K-code previously owned by Gary Thomas.

Before diving into details, just take a moment and check out the photos in the gallery. Make no mistake, this is a perfect-10 Mustang that requires zero fixes and whose place is clearly in someone’s collection.

In fact, as we already said, the car was previously owned by Gary Thomas, the famous Ford collector whose lineup of models is believed to have included no more, no less than 450 models. All of them were stored in just the perfect conditions, and many ended up selling for big bucks.

This Mustang has already been restored, but the project was performed exclusively with NOS parts from Thomas’ warehouse of Ford parts.

Everything is absolutely spotless, and LRA Auto Museum and Sales, the garage that’s trying to find the car a new home, says Gary Thomas got his hands on the Mustang in 1986. It was immediately restored and brought back to a tip-top shape outside, inside, and under the hood.

And while it’s hard to add any further value to what the eyes can already see, let’s focus a little bit on the K-code magic.

This Mustang was born (and still comes) with a 289 engine, with a Ford dealership adding a Tri-Power upgrade to bring the total output to the 271 horsepower we told you about earlier.

It goes without saying this pony has become a showstopper wherever it goes. In addition to winning several prestigious awards, the car has also been featured in the Mustang Monthly magazine back in September 1989, shortly after it was restored to factory specifications.

The Rangoon Red finish is just spotless, and it makes the car shine bright like a diamond. The white interior with red appointments is flawless as well, while the odometer indicates close to 37,000 miles (that’s about 59,500 km for our European readers).

At the end of the day, this super-rare Mustang obviously can’t sell for cheap. It’s believed only approximately 7,300 K-code ponies ended up seeing the daylight in 1965, but nobody knows for sure if another model in tip-top shape still exists today.

This is why this completely-original example is breaking the bank, as the garage is willing to let it go to anyone ready to pay $123,000.