1968 Ford Mustang Fastback, genuine R-code 428 Cobra Jet car with Deluxe Marti Report, built as an Eleanor tribute

Why we picked it

This is a 1968 Mustang fastback whose VIN (8R02R160307) carries the R code for the 428 Cobra Jet. It comes with a Deluxe Marti Report and a build binder. The seller bought it in 2018 and turned it into an Eleanor tribute with a TREMEC 5-speed, and says it shows cosmetic wear from the years since. It has a clean Texas title in the current owner's name and shows 550 miles (TMU).

Why we picked it: original-spec 428 CJ fastbacks have sold for $117,500 to $126,500, and custom 1968 fastbacks without the CJ pedigree have sold for $76,000 to $82,500. At $60,500 with 8 days left, the bid is about 40% under the midpoint. Bids usually climb in the last days. Even so, a documented CJ car is a rare starting point for a pro-touring build, and it could be returned to stock later.

The value check

When we found it, the bid was $95,000. Comparable cars in the same condition have sold for $76,000–$126,500, so the middle of the market is about $101,250. That put this car 6% under.

Original 1968 428 CJ fastbacks sold for $117,500 (BaT, Apr 2025) and $126,500 (Mecum, Jan 2025), and modified/custom 1968 fastbacks sold for $76,000-$82,500 in Sep-Oct 2026. A converted CJ car sits between the two, so the current $60,500 bid is about 40% under the $101,250 midpoint.

Where the numbers come from:

• 1968 Mustang GT Fastback 428 CJ 4-speed, $117,500, BaT Apr 2025
• 1968 Mustang Cobra Jet Fastback, $126,500, Mecum Jan 2025
• 1968 Mustang Fastback custom, $76,000, BaT Oct 2026
• 1968 Mustang Fastback custom, $82,500, Barrett-Jackson Sep 2026

What to check

• The trim tag decodes to Highland Green and a 4-speed, but the car is now black/gray with a 5-speed. Ask whether the 428 in the car is the original block and check the engine stamping against the VIN.
• Read the Marti Report against the trim tag and VIN before bidding. Eleanor conversions can hide panel and body changes.
• Check the floors, torque boxes, cowl vents and lower rear quarters, which are common 1967-68 Mustang rust spots.
• The seller says it was refurbished, not fully restored. Ask for photos of the underside and receipts for the mechanical work.
• The reserve status is not stated on the listing.

Making it drive like new

The big-block nose makes the front end heavy, so a coilover front conversion or a Mustang II-style or Roadster Shop-type subframe, rack-and-pinion steering and 4-wheel disc brakes would help it handle. Keep the original R-code parts and Marti paperwork with the car so a future owner can return it to stock.

6 builders make a complete chassis for the 1964½–70 Mustang. Compare them side by side, along with what it takes to stiffen the factory frame.

How it ended

It sold for $160,000 on Oct 19, 2026, against a market value of about $101,250 when we found it.