Ford Mustang 1st Gen (1971-1973)
The 1971-1973 Mustang was the largest of the first generation, marking the final chapter for big-block power before the oil crisis. While base models remain affordable, rare variants like the Boss 351 and 429 Cobra Jet are highly prized by collectors.
Find one with Spotter →Ford Mustang 1st Gen (1971-1973) sold for a median of $23,100 over the last 12 months, based on 69 auction sales; the middle 50% sold between $14,250 and $31,300. 702 currently for sale.
Listings
The 1971-1973 Mustang represented the final, and largest, iteration of the original pony car platform. Responding to a market hungry for more size and power, Ford stretched the Mustang's wheelbase and overall dimensions, creating a heavier, more substantial car. This generation offered three distinct body styles: the formal hardtop, the sleek SportsRoof, and the classic convertible, with a wide array of engines from a 250 cubic inch inline-6 to the potent 429 Super Cobra Jet V8.
Collectors are drawn to these cars as the last bastion of true Mustang muscle before emissions regulations and the 1973 oil crisis ended the era. The most desirable models are the high-performance variants, specifically the 1971-only Boss 351 and the 429 Cobra Jet cars. The popular Mach 1 package, available with several V8 options, also commands strong interest, as does the low-production convertible. Their controversial size once made them less popular than earlier Mustangs, but today they're appreciated for their unique styling and big-block capabilities.
The market for these Mustangs is incredibly diverse. The average sale price sits around $29,000, but that figure hides a massive spread. Entry-level hardtops with smaller engines can be found for under $15,000, offering an accessible entry point to classic Mustang ownership. At the other end, concours-quality Boss 351 and 429 SCJ examples regularly trade for over $100,000, with the very best hitting north of $200,000.
Buying Tips
- Rust is the biggest enemy. Check the cowl vents, floor pans, trunk floors, and the area around the rear window on SportsRoof models for corrosion.
- Verify the authenticity of high-performance models. Get a Marti Report to confirm a real Boss 351, 429 CJ, or Mach 1, as many base cars have been cloned.
- Inspect the unique trim and body parts. The grille, hockey stick side stripes, and rear spoilers can be difficult and expensive to source if they're missing or damaged.
- Drivetrains are generally reliable. The 351 Cleveland V8 offers a great balance of power and availability, while the 429 big-blocks are much more costly to rebuild and maintain.
Prices for the 1971-1973 Mustang range from a few hundred dollars for non-running projects to over $225,000 for pristine, high-performance variants.
2,314 Ford Mustang 1st Gen (1971-1973) vehicles have been tracked across auctions and listings on Hypercars, with 702 currently live.
Data sourced from Bring a Trailer, Cars & Bids, eBay Motors, PCarMarket, and Collecting Cars. Updated daily.
Frequently Asked Questions
How much does a Ford Mustang 1st Gen (1971-1973) cost?
Over the last 12 months, Ford Mustang 1st Gen (1971-1973) sold for a median of $23,100 across 69 auction sales tracked on Hypercars; the middle 50% sold between $14,250 and $31,300. There are 702 currently for sale.
How many Ford Mustang 1st Gen (1971-1973) listings are for sale right now?
There are 702 Ford Mustang 1st Gen (1971-1973) listings currently live across auctions, dealers, and marketplaces tracked by Hypercars.