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Man Refuses To Sell 1972 Ford Mustang Mach 1 for Just $42,250, Rare V8 Engine the "Issue"?

1972 Ford Mustang Mach 1 in Bright Lime 30 photos
Photo: Bring a Trailer/autoevolution
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When it comes to the Ford Mustang, late first-gen models can be quite controversial. The Mustang was redesigned for the 1971 model year, growing in size while also looking very much not like a muscle car. Thankfully, the Sportsroof variants came in to save the day.
Don’t even think about getting a late first-gen Mustang in Hardtop or Convertible configuration. What you want is the Sportsroof, either a Mach 1 or a Boss 351. This way, you end up with something that isn’t just more fun to drive, but also looks more aggressive (like a fastback rather than a two-door sedan).

What we have here is precisely one such American classic, which fortunately for its next owner, ended up not selling at auction recently, which means it’ll probably get relisted soon. The issue was that the highest bid ($42,250) failed to meet the reserve set by the seller, who probably values this Mustang at $50k or more.

It’s an interesting spec, I’ll give them that, even though it’s not a real Boss 351, so don’t let stickers on the valve covers fool you – the owner put them there just for kicks and they can be easily removed.

Powering this car is the R-code H.O. (High-Output) 351 ci Cleveland V8 engine, which makes for a rare sighting. It was factory-rated at 275 horsepower and comes with a four-barrel carburetor, a Ram Air induction system, and electronic ignition. It sends its power to the rear wheels via a four-speed manual gearbox and a 3.91:1 Traction-Lok differential.

According to the ad, this car was one of 993 featuring this specific paint code, one of 179 with this paint/trim codes, one of 336 featuring this drivetrain combo, and one of 4,777 ordered with Magnum 500 chrome wheels.

1972 Ford Mustang Mach 1 in Bright Lime
Photo: Bring a Trailer
Speaking of the exterior, highlights include the Bright Lime colorway (repainted some 24 years ago), a color-keyed urethane front bumper, Mach 1 grille, Ram Air hood, front and rear spoilers, dual side mirrors, black Mach 1 graphics, dual exhausts, the previously mentioned wheels, plus a set of F60-15 Firestone Wide Oval white-letter tires.

Meanwhile, the interior comes with black vinyl front bucket seats, a folding Sport Deck rear bench, color-coordinated dashboard and door panels, deluxe seatbelts, an AM radio, an 8-track player, a floor-mounted center console, Hurst shifter, woodgrain accents, and a two-spoke steering wheel. The latter is said to be cracked but that should be an easy fix.

Fun fact, this car is a bit of a movie star after having been used in the 2013 film ‘Pain & Gain’ starring Dwayne ‘The Rock’ Johnson and Mark Wahlberg. The two can be seen next to it in one of the images uploaded to the gallery.

So, what do you guys think? Is this Mustang worth more than $42k, and if so, what would be a fair price?
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About the author: Sergiu Tudose
Sergiu Tudose profile photo

Sergiu got to experience both American and European car "scenes" at an early age (his father drove a Ford Fiesta XR2 supermini in the 80s). After spending over 15 years at local and international auto publications, he's starting to appreciate comfort behind the wheel more than raw power and acceleration.
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