Case file

Mercury Cougar

https://bringatrailer.com/mercury/cougar/ · 188 completed auctions · 59 read in depth · compiled · 25 parts/memorabilia listings excluded

The figures below were computed by an earlier build of the analysis and do not carry later corrections to it. Refreshing this case file recomputes them from the same cars.

BaT files wheels, seats, engines and memorabilia under the same model page as the cars. 25 such listings were removed before any figure below was computed — e.g. Twin-Turbocharged 6.2L–Powered 1967 Mercury Cougar Hardtop; No Reserve: 1967 Mercury Cougar XR-7 Hardtop; 1971 Mercury Cougar XR-7 Hardtop Coupe.

A market split three ways: documented first-generation big-blocks now clear $70-100k, well-sorted 1967-70 small-blocks and restomods land $20-58k, and everything from 1971 onward — including 50k-mile supercharged MN12s at $4,405 — is still cheap money.

Modified 1970 Mercury Cougar Eliminator
$58,000 ·
1973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed
$37,000 ·
428-Powered 1968 Mercury Cougar XR-7 4-Speed
$58,000 ·
1969 Mercury Cougar Convertible M-Code 351
$29,000 ·
No Reserve: 35k-Mile 1997 Mercury Cougar XR7
$6,750 ·
1973 Mercury Cougar Convertible
$20,000 ·
Median sold
$19,000
137 sales
Typical range
$11,750–$28,500
middle 50%
Last 12 months
$19,763
+34.0% year over year
Sell-through
73%
51 reserve not met
All-time high
$157,000

The market

Across 188 completed BaT auctions the Cougar shows a median sold price of $19,000 and a mean of $24,866, with a 25th percentile of $11,750 and a 75th of $28,500. That spread is the story: the range runs $3,900 to $157,000, and it is not a condition curve so much as a model curve. The name covers everything from a 1967 XR-7 to a 2000 front-drive coupe, plus CMC Tiffany kit conversions, so the aggregate median tells you almost nothing about the car you are actually shopping for. Sell-through is a healthy 72.9%, but the reserve-not-met pile is heavily weighted toward sellers of ordinary 1969-73 cars asking first-generation big-block money.

The trend is genuinely up. Last-12-months median is $19,763 against $14,750 the year before, +34.0%, and the 2026 partial year sits at $29,000 (n=7). That echoes the 2022 spike ($30,750 median) after the 2023-25 trough ($13,500 / $17,250 / $16,025). What changed is the mix at the top: 1968 Mercury Cougar XR7-G Hertz at $100,000, 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible at $86,001 and again at $78,000, 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air at $69,500, and two 1968-70 restomods at $58,000 apiece — Modified 1970 Mercury Cougar Eliminator and 428-Powered 1968 Mercury Cougar XR-7 4-Speed. Meanwhile the ceiling for a documented but undistinguished 1969 XR-7 hardtop is roughly $24,250 (1969 Mercury Cougar XR-7).

Transmission is the single loudest variable in the analysed subset: manual median $42,000 (n=6) versus automatic $15,126 (n=36). Treat that gap with care — the manual cars are also the rare-spec cars (Q-code 4-speed convertibles, 5-speed conversions) — but the direction is unambiguous and repeated. Mileage, by contrast, is close to noise on the 1967-70 cars because five-digit odometers have rolled over on a large share of them: 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible showed 11,000 miles and made $78,000, while 35-Years-Owned 1968 Mercury Cougar XR-7 GT 390 showed 500 miles and made $41,250. Mileage does matter on the 1978-97 cars, where 31k-45k survivors are the only ones anybody wants.

Where money is left on the table is documentation and seller conduct, not condition. Every high-water sale here carries an Elite or Deluxe Marti Report plus registry corroboration. Every conspicuous reserve-not-met in this sample pairs a thin paper trail with an absent or hostile seller: 1969 Mercury Cougar Convertible 351 (RNM at $26,266, seller told commenters 'less from people that are not' bidding), 306-Powered 1967 Mercury Cougar Fastback Conversion (RNM $28,957, seller answered nothing across 104 comments), 1978 Mercury Cougar XR-7 (RNM $9,500 after ignoring three days of requests for trunk photos). Bidders on this model are unusually well-informed — jsv, Cougar_Guy, XR7GRegistrar, Ozzybud, Mike_B_SVT, DonRush of West Coast Classic Cougars all appear repeatedly — and they price silence.

$0$50k$100k$150k201720202023Modified 1970 Mercury Cougar Eliminator — sold $58,0001973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed — sold $37,0001969 Mercury Cougar Convertible 351 — RNM $6,0001968 Mercury Cougar 7-Litre GT-E — RNM $76,000428-Powered 1968 Mercury Cougar XR-7 4-Speed — sold $58,0001969 Mercury Cougar Convertible M-Code 351 — sold $29,000428-Powered 1969 Mercury Cougar Eliminator — RNM $35,500No Reserve: 35k-Mile 1997 Mercury Cougar XR7 — sold $6,7501969 Mercury Cougar Convertible 351 — RNM $26,2661973 Mercury Cougar Convertible — sold $20,000No Reserve: 1968 Mercury Cougar XR-7 — sold $15,000No Reserve: 45k-Mile 1989 Mercury Cougar XR-7 — sold $7,5571968 Mercury Cougar XR7-G Hertz — sold $100,0001978 Mercury Cougar XR-7 — RNM $9,5001968 Mercury Cougar 302 — sold $15,7501969 Mercury Cougar XR-7 428 Cobra Jet Ram Air — sold $69,50035-Years-Owned 1968 Mercury Cougar XR-7 GT 390 — sold $41,2501969 Mercury Cougar XR-7 351 — sold $9,100302-Powered 1968 Mercury Cougar 5-Speed — sold $47,000No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 — sold $5,650No Reserve: 16k-Mile 1980 Mercury Cougar XR-7 — sold $11,5001969 Mercury Cougar Eliminator 351 — sold $32,50019k-Mile 1979 Mercury Cougar XR-7 — sold $12,0001968 Mercury Cougar XR-7 — sold $20,300No Reserve: 1971 Mercury Cougar XR-7 Convertible — sold $16,300No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 — sold $5,50034k-Mile 2000 Mercury Cougar V6 — RNM $3,7001973 Mercury Cougar XR-7 Convertible — sold $19,5251970 Mercury Cougar 351 — RNM $16,000No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 — sold $4,4051969 Mercury Cougar XR-7 Convertible 351 4-Speed — sold $24,7501969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible — RNM $95,000306-Powered 1967 Mercury Cougar Fastback Conversion — RNM $28,957One-Family-Owned 1969 Mercury Cougar Eliminator 351 — sold $39,50042-Years-Owned 1971 Mercury Cougar XR-7 Convertible — RNM $11,2501969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible — sold $78,0001986 CMC Tiffany Classic Coupe — sold $13,5001968 Mercury Cougar XR-7 — sold $23,000No Reserve: 1986 CMC Tiffany Classic Coupe — sold $12,000No Reserve: Mercury Cougar XR-7 Wall Art — sold $5,1001968 Mercury Cougar — RNM $9,100No Reserve: 1994 Mercury Cougar XR7 — sold $7,5001974 Mercury Cougar XR-7 — sold $11,0001969 Mercury Cougar XR-7 — sold $24,2501971 Mercury Cougar Convertible — RNM $5,6001969 Mercury Cougar XR-7 Convertible — RNM $20,0001967 Mercury Cougar 390 — RNM $15,500No Reserve: 1979 Mercury Cougar XR-7 — sold $6,500No Reserve: 1967 Mercury Cougar Dan Gurney Special — sold $13,500No Reserve: 1978 Mercury Cougar XR-7 — sold $21,7531969 Mercury Cougar XR-7 Convertible 351 4-Speed — sold $30,0001968 Mercury Cougar — RNM $15,500One-Family-Owned 1968 Mercury Cougar — sold $20,2501970 Mercury Cougar XR-7 Convertible — sold $15,2511969 Mercury Cougar XR-7 351 Convertible — RNM $21,000No Reserve: 1994 Mercury Cougar XR7 — sold $6,20044-Years-Owned 1967 Mercury Cougar XR-7 — sold $31,250No Reserve: 31k-Mile 1984 Mercury Cougar 5.0 — sold $3,900No Reserve: 1971 Mercury Cougar XR-7 Convertible — sold $14,7501969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible — sold $86,0011969 Mercury Cougar Eliminator 428 Cobra Jet Ram Air — sold $127,5001978 Mercury Cougar XR-7 — RNM $4,900No Reserve: 1994 Mercury Cougar XR7 — sold $5,5001968 Mercury Cougar XR-7 — sold $21,000No Reserve: 1994 Mercury Cougar XR7 — sold $6,2001973 Mercury Cougar XR-7 Convertible — RNM $10,000No Reserve: 45-Years-Owned 1969 Mercury Cougar XR-7 Convertible 390 5-Speed — sold $31,0001968 Mercury Cougar — sold $16,500No Reserve: 1969 Mercury Cougar Convertible 351 3-Speed — sold $17,2501972 Mercury Cougar XR-7 Convertible — sold $22,4501968 Mercury Cougar XR-7 — sold $20,250No Reserve: 1968 Mercury Cougar XR-7 — sold $19,750No Reserve: 1989 Mercury Cougar XR7 5-Speed — sold $7,300No Reserve: 1990 Mercury Cougar XR7 5-Speed — sold $12,7501968 Mercury Cougar — sold $21,500No Reserve: 1987 Mercury Cougar 20th Anniversary Edition — sold $4,8001970 Mercury Cougar Eliminator 4-Speed — sold $55,800No Reserve: 37k-Mile 1987 Mercury Cougar XR-7 — sold $7,7771970 Mercury Cougar XR-7 Convertible — RNM $13,7501967 Mercury Cougar XR-7 — sold $28,50019k-Mile 1997 Mercury Cougar XR7 30th Anniversary Edition — sold $11,7501967 Mercury Cougar — sold $36,000No Reserve: 1995 Mercury Cougar XR7 — sold $4,999No Reserve: 24-Years-Family-Owned 1969 Mercury Cougar XR7 — sold $13,500No Reserve: 1990 Mercury Cougar XR7 — sold $6,6001967 Mercury Cougar XR-7 3-Speed — sold $23,000No Reserve: 1994 Mercury Cougar XR7 — sold $6,8001968 Mercury Cougar XR-7 7.0-Liter GT-E — RNM $60,000291-Mile 1997 Mercury Cougar XR7 — RNM $15,250No Reserve: 1988 CMC Tiffany Classic Coupe — sold $14,5001967 Mercury Cougar XR7 390 4-Speed — sold $43,250No Reserve: 1969 Mercury Cougar XR-7 Convertible — sold $22,500No Reserve: 1995 Mercury Cougar XR7 — sold $7,0501971 Mercury Cougar Convertible — sold $11,4501969 Mercury Cougar Convertible — sold $25,5001968 Mercury Cougar XR-7 — sold $36,000No Reserve: 1977 Mercury Cougar XR-7 — sold $9,0001969 Mercury Cougar XR-7 428 Cobra Jet — sold $58,0001967 Mercury Cougar — RNM $18,5001969 Mercury Cougar 4-Speed — RNM $11,000No Reserve: 1969 Mercury Cougar XR-7 Convertible — sold $36,0001968 Mercury Cougar XR-7 390 — RNM $20,000Modified 1967 Mercury Cougar — sold $21,00021-Years-Owned 1968 Mercury Cougar XR-7 428 Cobra Jet — RNM $59,5001973 Mercury Cougar XR-7 Convertible — sold $25,00026-Years-Owned 1989 Mercury Cougar XR7 5-Speed — sold $8,6001969 Mercury Cougar Eliminator 428 Cobra Jet Ram Air — sold $68,5001968 Mercury Cougar — RNM $8,500No Reserve: 1971 Mercury Cougar Convertible — sold $14,7501968 Mercury Cougar 390 4-Speed — sold $56,00021-Years-Owned 1968 Mercury Cougar XR-7 7.0-Litre GT-E — sold $157,000No Reserve: 1967 Mercury Cougar — sold $16,0001970 Mercury Cougar Eliminator 428 Super Cobra Jet — sold $99,500No Reserve: 1990 Mercury Cougar XR7 — sold $6,5001969 Mercury Cougar — sold $25,000No Reserve: 1970 Mercury Cougar XR-7 — sold $8,700Four-Decades-Owned 1968 Mercury Cougar XR-7 — RNM $9,450No Reserve: 1970 Mercury Cougar Convertible — sold $20,0011969 Mercury Cougar XR-7 Convertible — sold $35,0001967 Mercury Cougar — sold $25,0001968 Mercury Cougar GT-E XR-7 4-Speed — RNM $165,000Modified 1970 Mercury Cougar — RNM $41,000No Reserve: 1968 Mercury Cougar — sold $18,7501968 Mercury Cougar XR-7 390 — sold $31,8501970 Mercury Cougar XR-7 — RNM $25,5001989 Mercury Cougar XR7 5-Speed — RNM $10,2501969 Mercury Cougar Eliminator 351 — sold $25,000No Reserve: 1973 Mercury Cougar XR-7 — sold $20,6001973 Mercury Cougar XR-7 Convertible 4-Speed — RNM $22,000No Reserve: 34k-Mile 1997 Mercury Cougar XR7 — sold $7,36040k-Mile 1970 Mercury Cougar XR-7 — sold $23,501428-Powered 1969 Mercury Cougar — RNM $18,8501967 Mercury Cougar XR-7 — sold $22,0001967 Mercury Cougar — sold $19,6801968 Mercury Cougar — sold $20,5001970 Mercury Cougar Eliminator — RNM $32,000Modified 1967 Mercury Cougar — sold $48,2501969 Mercury Cougar — RNM $8,0111969 Mercury Cougar — sold $16,000No Reserve: 12k-Mile 1999 Mercury Cougar V6 5-Speed — sold $6,566No Reserve: Single-Family-Owned 1968 Mercury Cougar XR-7 — sold $28,1001968 Mercury Cougar XR-7 GT-E 428 Cobra Jet — sold $50,0001969 Mercury Cougar Convertible — sold $15,000390-Powered 1968 Mercury Cougar XR-7 6-Speed — sold $36,0001968 Mercury Cougar — RNM $8,5001968 Mercury Cougar 3-Speed — sold $18,000R-Code 1969 Mercury Cougar Eliminator — sold $56,5001970 Mercury Cougar — RNM $7,500Single-Family-Owned 1968 Mercury Cougar XR-7 — RNM $15,7501969 Mercury Cougar Convertible — RNM $15,5001969 Mercury Cougar Eliminator 428 Cobra Jet 4-Speed — RNM $78,0001970 Mercury Cougar XR7 — RNM $13,7501968 Mercury Cougar XR7-G — sold $24,2501967 Mercury Cougar 289 5-Speed Trans-Am Tribute — sold $14,8001967 Mercury Cougar 4-Speed — sold $17,5001968 Mercury Cougar XR7 — sold $20,5001969 Mercury Cougar — sold $15,7501967 Mercury Cougar XR-7 — sold $14,750No Reserve: 1967 Mercury Cougar — sold $12,0001968 Mercury Cougar XR7-G — sold $19,000No Reserve: 1967 Mercury Cougar XR-7 — sold $18,7501967 Mercury Cougar — sold $17,1501968 Mercury Cougar — sold $20,550No Reserve: 1967 Mercury Cougar XR-7 Dan Gurney Special — sold $22,000No Reserve: 1968 Mercury Cougar — sold $18,0001968 Mercury Cougar XR7 — RNM $12,2501968 Mercury Cougar — RNM $10,201No Reserve: 1972 Mercury Cougar XR-7 Convertible — sold $12,7501967 Mercury Cougar — sold $18,000No Reserve: 1968 Mercury Cougar XR7 — sold $35,5001979 Mercury Cougar XR-7 — RNM $3,00021 Years-Owned 1967 Mercury Cougar 5-Speed — RNM $8,8001968 Mercury Cougar 302 4-Speed — RNM $10,0001969 Mercury Cougar XR7 Convertible 351 4-Speed — sold $24,000No Reserve: 1968 Mercury Cougar XR7 — sold $30,250No Reserve: 5K-Mile 1979 Mercury Cougar XR-7 — sold $6,1001968 Mercury Cougar XR7 Race Car — RNM $27,0001969 Mercury Cougar Convertible — RNM $11,000No Reserve: 1968 Mercury Cougar XR7 — sold $17,750No Reserve: 1972 Mercury Cougar — sold $5,7001968 Mercury Cougar — RNM $10,000No Reserve: Big Block 1969 Mercury Cougar XR-7 Project — sold $4,0001973 Mercury Cougar Convertible — sold $7,1881970 Mercury Cougar — RNM $6,1701967 Mercury Cougar — sold $6,4001969 Mercury Cougar XR7 Convertible — sold $16,5001969 Mercury Cougar — sold $16,000Modified 1968 Mercury Cougar XR7 — RNM $10,000
Every completed auction. Filled = sold, hollow = reserve not met. Line = median sold price per year.
$0$50k$100k$150k2016: median $7,188 (n=5)20162017: median $11,725 (n=2)20172018: median $21,000 (n=6)20182019: median $17,750 (n=12)20192020: median $26,175 (n=10)20202021: median $20,600 (n=15)20212022: median $30,750 (n=14)20222023: median $13,500 (n=15)20232024: median $17,250 (n=25)20242025: median $16,025 (n=26)20252026: median $29,000 (n=7)2026
Median sold price per year; the vertical line spans that year’s low to high.

What moves the price

Documented rare factory package (XR7-G, GT-E, 428 CJ Ram Air, Eliminator) premium +$40k to +$80k over a comparable standard XR-7

1968 Mercury Cougar XR7-G Hertz (one of 188 Hertz cars of 619 built) made $100,000; 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible (1 of 96, ~32 known to the registry) made $86,001 in 2024 and a second example $78,000 in 2025; 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air hardtop made $69,500. Against that, 1969 Mercury Cougar XR-7 with a 390 built to a claimed 500hp made $24,250 and 1969 Mercury Cougar XR-7 351 made $9,100.

Seen on: 1968 Mercury Cougar XR7-G Hertz · 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible · 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air

Manual transmission premium +100%+ on the analysed subset (median $42,000 vs $15,126)

1973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed made $37,000 — nearly double the $19,525 paid for 1973 Mercury Cougar XR-7 Convertible, an automatic CJ car with a fresh rebuild. 1969 Mercury Cougar XR-7 Convertible 351 4-Speed made $30,000 and again $24,750, versus $20,000 reserve-not-met for the automatic 1969 Mercury Cougar XR-7 Convertible. EddieNap on the $24,750 car: 'This looks like very short money for a ragtop, being a four-speed/traction lok/heavy duty suspension car.'

Seen on: 1973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed · 1969 Mercury Cougar XR-7 Convertible 351 4-Speed · 1969 Mercury Cougar XR-7 Convertible 351 4-Speed

Model generation — 1967-70 versus 1971-73 versus 1974-97 discount 1971-73 roughly -30 to -50% of an equivalent 1967-70; 1974-97 mostly $4k-$12k regardless of condition

Compare 1968 Mercury Cougar XR-7 at $20,300 and 302-Powered 1968 Mercury Cougar 5-Speed at $47,000 against No Reserve: 1971 Mercury Cougar XR-7 Convertible at $16,300 and $14,750, 1974 Mercury Cougar XR-7 at $11,000, No Reserve: 1979 Mercury Cougar XR-7 at $6,500, and No Reserve: 31k-Mile 1984 Mercury Cougar 5.0 at $3,900. pbf777 on 42-Years-Owned 1971 Mercury Cougar XR-7 Convertible: 'the Mercury Cougars, and particularly this series just don't garner the appreciation that they should.'

Seen on: No Reserve: 1971 Mercury Cougar XR-7 Convertible · No Reserve: 1979 Mercury Cougar XR-7 · 42-Years-Owned 1971 Mercury Cougar XR-7 Convertible

Verified numbers-matching engine (or lack thereof) discount -25% or more; enough to blow a reserve entirely

1968 Mercury Cougar 7-Litre GT-E — one of only 394 GT-Es — failed to meet reserve at $76,000 purely on drivetrain provenance. Seller: 'Replaced with a period correct engine and transmission.' 2FeCats afterward: 'this car deserves 6 figures... Wouldn't let it spend coin even with date coded one.' By contrast 1968 Mercury Cougar XR7-G Hertz cleared $100,000 with claimed matching numbers — though even there the block VIN stamp was never photographed despite requests from MRPRO, ericisback and XR7GRegistrar.

Seen on: 1968 Mercury Cougar 7-Litre GT-E · 1968 Mercury Cougar XR7-G Hertz · 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air

High-quality, fully documented restomod on a small-block car premium +100-200% over a stock-spec equivalent

302-Powered 1968 Mercury Cougar 5-Speed, a standard (non-XR-7) hardtop with a T5 swap, Vintage Air and a rebuilt 306, made $47,000 — avidude: 'Seller did well on this one. Ive never seen a small block standard bring this kind of money.' 428-Powered 1968 Mercury Cougar XR-7 4-Speed made $58,000 as a GT-E clone. Modified 1970 Mercury Cougar Eliminator made $58,000. Execution quality is the gate: 1970 Mercury Cougar 351, an Eliminator-style clone with acknowledged door-gap problems, stalled at $16,000 reserve-not-met.

Seen on: 302-Powered 1968 Mercury Cougar 5-Speed · 428-Powered 1968 Mercury Cougar XR-7 4-Speed · 1970 Mercury Cougar 351

Elite/Deluxe Marti Report plus registry entry premium unclear in isolation, but its absence caps bidding

1973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed came with a Deluxe Marti Report, a Lois Emminger report and a CCOA 71-73-351CJ registry entry, and 71-73Qcode confirmed 'only 18 confirm to exist in the cobra jet registry' — it made $37,000, an outlier for a 1973. Conversely 1969 Mercury Cougar Convertible M-Code 351 sold for $29,000 with badcatt flatly disputing the spec: 'without a Marti report, the original window sticker or the body buck tag I doubt it is really a GT handling package Cougar.' On 1971 Mercury Cougar Convertible, CarFoolLane pushed for a rush Marti; it went unordered and the car failed at $5,600.

Seen on: 1973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed · 1969 Mercury Cougar Convertible M-Code 351 · 1971 Mercury Cougar Convertible

Colour or interior change from factory spec discount -10-20%

Ozzybud on 428-Powered 1969 Mercury Cougar Eliminator (RNM $35,500): 'Too bad the interior was changed to black. Blue comfortweave seats would have been stunning and set it apart.' Cougar_Guy's post-mortem on 1969 Mercury Cougar XR-7 Convertible (RNM $20,000): 'The tweed seats and door pads, trunk rack and boring color (which surprisingly was a color change) may have held the price down somewhat.' 1969 Mercury Cougar XR-7 351, repainted black from Light Ivory with green re-trim, brought only $9,100.

Seen on: 428-Powered 1969 Mercury Cougar Eliminator · 1969 Mercury Cougar XR-7 Convertible · 1969 Mercury Cougar XR-7 351

Seller engagement in the comment thread discount -15 to -30%, or a failed reserve

1969 Mercury Cougar Convertible 351 (RNM $26,266) — Rhindieh [SELLER]: 'I would honestly rather keep the car than respond to endless inquiries from guys in jeans shorts.' 306-Powered 1967 Mercury Cougar Fastback Conversion (RNM $28,957) — Ranchero65: 'Bidding seems non-proportional to the positive comments... Probably a result of @seller non-participation.' Even the winning $58,000 Modified 1970 Mercury Cougar Eliminator drew Henna30's warning: 'you might want to chime in and answer some of the questions... if you want it to bring all the money!'

Seen on: 1969 Mercury Cougar Convertible 351 · 306-Powered 1967 Mercury Cougar Fastback Conversion · Modified 1970 Mercury Cougar Eliminator

Documented single-family / long-term ownership with award history premium +15-25%

One-Family-Owned 1968 Mercury Cougar (a base 302 hardtop) made $20,250 on the strength of 56 years in one family, a 100-point CCOA East Coast Nationals score and a window sticker. 44-Years-Owned 1967 Mercury Cougar XR-7 made $31,250 despite a rolled-over odometer and disclosed rust bubbles under the rear-window vinyl. One-Family-Owned 1969 Mercury Cougar Eliminator 351 made $39,500 on its original dealer invoice alone.

Seen on: One-Family-Owned 1968 Mercury Cougar · 44-Years-Owned 1967 Mercury Cougar XR-7 · One-Family-Owned 1969 Mercury Cougar Eliminator 351

$0$25k$50k$75k$100k020k40k60k80k100kModified 1970 Mercury Cougar Eliminator — 79,000 mi, $58,0001973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed — 62,000 mi, $37,000428-Powered 1968 Mercury Cougar XR-7 4-Speed — 83,000 mi, $58,0001969 Mercury Cougar Convertible M-Code 351 — 50,000 mi, $29,000No Reserve: 35k-Mile 1997 Mercury Cougar XR7 — 35,000 mi, $6,7501973 Mercury Cougar Convertible — 34,000 mi, $20,000No Reserve: 1968 Mercury Cougar XR-7 — 87,000 mi, $15,000No Reserve: 45k-Mile 1989 Mercury Cougar XR-7 — 45,000 mi, $7,5571968 Mercury Cougar XR7-G Hertz — 69,000 mi, $100,0001968 Mercury Cougar 302 — 7,000 mi, $15,7501969 Mercury Cougar XR-7 428 Cobra Jet Ram Air — 64,000 mi, $69,50035-Years-Owned 1968 Mercury Cougar XR-7 GT 390 — 500 mi, $41,2501969 Mercury Cougar XR-7 351 — 48,000 mi, $9,100302-Powered 1968 Mercury Cougar 5-Speed — 99,000 mi, $47,000No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 — 50,000 mi, $5,650No Reserve: 16k-Mile 1980 Mercury Cougar XR-7 — 16,000 mi, $11,5001969 Mercury Cougar Eliminator 351 — 34,000 mi, $32,50019k-Mile 1979 Mercury Cougar XR-7 — 19,000 mi, $12,0001968 Mercury Cougar XR-7 — 57,000 mi, $20,300No Reserve: 1971 Mercury Cougar XR-7 Convertible — 99,000 mi, $16,300No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 — 50,000 mi, $5,5001973 Mercury Cougar XR-7 Convertible — 90,000 mi, $19,525No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 — 50,000 mi, $4,4051969 Mercury Cougar XR-7 Convertible 351 4-Speed — 58,000 mi, $24,750One-Family-Owned 1969 Mercury Cougar Eliminator 351 — 80,000 mi, $39,5001969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible — 11,000 mi, $78,0001986 CMC Tiffany Classic Coupe — 11,000 mi, $13,5001968 Mercury Cougar XR-7 — 99,000 mi, $23,000No Reserve: 1986 CMC Tiffany Classic Coupe — 70,000 mi, $12,000No Reserve: 1994 Mercury Cougar XR7 — 31,000 mi, $7,5001974 Mercury Cougar XR-7 — 85,087 mi, $11,0001969 Mercury Cougar XR-7 — 95,000 mi, $24,250No Reserve: 1979 Mercury Cougar XR-7 — 65,000 mi, $6,500No Reserve: 1967 Mercury Cougar Dan Gurney Special — 3,000 mi, $13,500No Reserve: 1978 Mercury Cougar XR-7 — 31,000 mi, $21,7531969 Mercury Cougar XR-7 Convertible 351 4-Speed — 16,000 mi, $30,000One-Family-Owned 1968 Mercury Cougar — 75,000 mi, $20,2501970 Mercury Cougar XR-7 Convertible — 80,000 mi, $15,251No Reserve: 1994 Mercury Cougar XR7 — 31,000 mi, $6,20044-Years-Owned 1967 Mercury Cougar XR-7 — 21,000 mi, $31,250No Reserve: 31k-Mile 1984 Mercury Cougar 5.0 — 31,000 mi, $3,900No Reserve: 1971 Mercury Cougar XR-7 Convertible — 99,000 mi, $14,7501969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible — 59,000 mi, $86,001
Mileage against sold price across the 43 deep-analysed cars.

Median by transmission

SpecMedianCars
Manual$42,0006
Automatic$15,12636

Median by exterior colour

ColourMedianCars
Red$23,0003
Blue$16,3003
White$13,5005
Black$11,5003
Oxford White$5,5005

Known issues

majorStructural rust in torque boxes, frame rails, floor pans, fender aprons and under vinyl roofs — usually hidden behind a cosmetic respray

raised on at least 12 of the 60 cars reviewed, and the single most common reason a listing collapsed

Ozzybud on 1969 Mercury Cougar Convertible 351: 'I see rust in the upper fender apron overlaps. That means there is likely a lot more rust elsewhere, including torque boxes and frame rails' — Cobrajetter added 'This is a project car... The paint job is abysmal. Hard pass.' That car died at $6,000. Jaguarman on 1968 Mercury Cougar: 'I'd hate to see what's going on under that vinyl roof'; Catron: 'Looks like Rust Bubbles under Vinyl Top' — RNM $9,100. cheeser64 on No Reserve: 1967 Mercury Cougar Dan Gurney Special found 'floor pan holes... jagged' in pics 155-157 while the seller was still calling it a 'rust-free car'. On the positive side, funkaholik on 1968 Mercury Cougar: 'it's frankly shocking to see a Cougar or Mustang of this vintage where the frame rails have no jacking dents and the front strut bar mounts aren't mangled' — which tells you what the norm is.

Check: Get the car on a lift and photograph torque boxes, frame rails, floor pans, rear-window channel and the overlaps where the front fender aprons meet the shock towers. Pull carpet at the front footwells. If there is a vinyl roof, assume rust beneath it until proven otherwise. Magnet the lower quarters, rockers and door bottoms; ask for paint-meter readings.

Seen on: 1969 Mercury Cougar Convertible 351 · 1968 Mercury Cougar · No Reserve: 1967 Mercury Cougar Dan Gurney Special

minorVacuum-operated concealed headlight door system leaks and misaligns

raised on at least 8 of 60 cars, including cars at every price point up to the $100,000 XR7-G

Eliminator on 1969 Mercury Cougar Eliminator 351: 'Cougars are pretty notorious for vacuum leaks, especially with the headlight doors. Pretty easy to resolve.' Seller confirmed 'Lights covers hold for a few hours but not over night.' Same complaint on 1969 Mercury Cougar Convertible M-Code 351 and, in reverse, on 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible where seller jsv argued factory design only required hours of hold. Alignment: on 1968 Mercury Cougar XR7-G Hertz, cliffbissonnette and rm23 both flagged headlight doors and fender fit 'for a complete restoration the sheet metal should lineup', and Don Rush noted a $7, seven-minute correction kit exists.

Check: Run the doors open and closed repeatedly, then leave the car overnight and see whether the doors have crept open. Budget for an actuator/reservoir/hose overhaul. Check door-to-grille flushness in daylight — misalignment is adjustable but tedious.

Seen on: 1969 Mercury Cougar Eliminator 351 · 1969 Mercury Cougar Convertible M-Code 351 · 1968 Mercury Cougar XR7-G Hertz

majorReplacement / unverifiable engine blocks on the valuable big-block cars

raised on 6 of the 60 cars, and decisive on the two most expensive failures

1968 Mercury Cougar 7-Litre GT-E failed at $76,000 after the seller confirmed the 427 and transmission are 'period correct but NOT matching numbers'; jsv also questioned the block casting reading. MRPRO's disclosure on 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air is the most instructive in the whole dataset: the original R-code block cracked, a replacement 'was blown up by the bodyshop', and the current third block 'was horribly VIN stamped from the factory... and essentially unreadable. I had Marti try to find what the block came from several times... Still a mystery.' On 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible ($78,000) the block is 'believed to be warranty replacement with no vin stamped on back'. On the $100,000 1968 Mercury Cougar XR7-G Hertz, ericisback pressed that the engine VIN stamp 'is bedrock of authenticating drivetrain for value purposes' and never got the photo.

Check: Demand a clear photograph of the block VIN stamp at the rear of the block (standard from 1968), plus casting date codes, before you bid. Cross-reference against the Marti Report. On CJ cars look for the 'C-scratch' on the reinforced block. Assume a car with no stamp photo is non-original and price it accordingly.

Seen on: 1968 Mercury Cougar 7-Litre GT-E · 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air · 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible

moderateFive-digit odometers that have rolled over — TMU is the default state, not the exception

explicitly rolled over or TMU on at least 10 of 60 cars

1968 Mercury Cougar 302 showed 7,000 miles while the owners reported 50k driven since 2008; 44-Years-Owned 1967 Mercury Cougar XR-7 showed 21,000 with the seller stating he had driven over 100k; 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible showed 11,000 and made $78,000 with 'total mileage unknown'. Jtrnt247 on No Reserve: 1971 Mercury Cougar XR-7 Convertible: '99k on a five digit. Could be 99k, could be 199k. Any idea?' — no documentation was produced. On 1969 Mercury Cougar Convertible 351 the odometer 'stopped at 48k for a period and was recently repaired'.

Check: Treat any 1967-73 indicated mileage as unverified unless there is a continuous receipt trail. Look for wear evidence: pedal pads, steering wheel, seat frames, door-hinge slop. Check the title for an 'exempt' odometer brand. Do not pay a low-mileage premium on a first-generation car.

Seen on: 1968 Mercury Cougar 302 · No Reserve: 1971 Mercury Cougar XR-7 Convertible · 44-Years-Owned 1967 Mercury Cougar XR-7

moderateDead air conditioning — R12 systems that 'need a recharge'

disclosed non-functional or weak on 11 of 60 cars

fiddlythings on 1969 Mercury Cougar XR-7 351 Convertible: '"AC needs a recharge" is like "ran when parked." What do you know of the existing system?' — the seller had left it uncharged through a full engine rebuild. Non-functional or weak A/C also disclosed on No Reserve: 1968 Mercury Cougar XR-7, 1969 Mercury Cougar XR-7 351, No Reserve: 1971 Mercury Cougar XR-7 Convertible, 1986 CMC Tiffany Classic Coupe, One-Family-Owned 1968 Mercury Cougar, and 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible ('blows cool, but not cold'). On 1971 Mercury Cougar Convertible the compressor was simply ripped out — joeveto: 'I never understand ripping the compressor out of a car. To what gain?'

Check: Insist on a measured vent temperature, not a 'blows cool' claim. Establish whether the system is R12 or converted, whether the compressor turns, and whether components were removed rather than disabled. A full correct-looking retrofit on a first-gen car is four figures.

Seen on: 1969 Mercury Cougar XR-7 351 Convertible · 1971 Mercury Cougar Convertible · No Reserve: 1968 Mercury Cougar XR-7

minorDead instruments and electrical gremlins — clock, tach, fuel and temp gauges, horn, sequential taillights

raised on roughly 20 of 60 cars; near-universal on unrestored examples

On No Reserve: 1968 Mercury Cougar XR-7 the seller confirmed 'The tachometer, temp and fuel gauge are all non operational. I have not tried to diagnose the issue.' Clock dead on 1969 Mercury Cougar Eliminator 351, 1968 Mercury Cougar XR-7, 302-Powered 1968 Mercury Cougar 5-Speed, 1969 Mercury Cougar XR-7 and No Reserve: 1971 Mercury Cougar XR-7 Convertible. 70b302Cat explained the recurring horn failure on No Reserve: 1971 Mercury Cougar XR-7 Convertible: 'That is a "rim blow" steering wheel... As they age sometimes they only work at the bottom of the steering wheel.' Cheezhd on 1969 Mercury Cougar XR-7 351: 'The YouTube video shows only the inside light blinking, not all three.'

Check: Sit in the car with the ignition on and work every switch. Verify all three sequential taillight elements fire on each side (solid-state conversions are common and cheap). Squeeze the rim-blow wheel all the way round. Expect the clock to be dead.

Seen on: No Reserve: 1968 Mercury Cougar XR-7 · No Reserve: 1971 Mercury Cougar XR-7 Convertible · 1969 Mercury Cougar XR-7 351

major if it happens, and it is cheap to pre-emptNylon-toothed cam sprocket / timing chain failure on the small-block around 70k miles

raised once, by a 15-year owner of the identical car — but it is a documented Ford-wide failure mode

MercfanDP on No Reserve: 1968 Mercury Cougar XR-7: 'I've owned a similar '68 XR-7 for over 15 years. Also one Diamond Blue repaint 25 years old... the original timing chain failed at 72k, nylon-coated cam sprocket.' That car was at 87,000 indicated with no timing-set history and sold for $15,000. Note 42-Years-Owned 1971 Mercury Cougar XR-7 Convertible had its timing chain replaced in 2017 — evidence owners do address it.

Check: Ask when the timing set was last replaced. If there is no receipt and the car has 60k+ indicated miles on an original 289/302, budget the job as a condition of purchase — a stripped nylon sprocket will not warn you.

Seen on: No Reserve: 1968 Mercury Cougar XR-7 · 42-Years-Owned 1971 Mercury Cougar XR-7 Convertible

moderateRear air shocks destroying the shock supports; rubber transmission cooler lines; PS hose routing against the exhaust manifold

raised by marque specialists on 2 of 60 cars, presented each time as a known model-specific failure

jsv on 1968 Mercury Cougar XR-7: 'Air shocks in the rear end of a Cougar will eventually destroy the shock supports. Ask any Cougar guy... Tranny cooling lines to the radiator should be metal tubing and not rubber tubing- zip-tying them to the stabilizer bar is a risk for tearing them and leaving you stranded.' That car (302-Powered... no — 1968 Mercury Cougar XR-7) had exactly those air shocks. drcougar on 1968 Mercury Cougar 302 gave detailed factory routing instructions because the PS hoses appeared to contact the exhaust manifold at full lock — a fire risk.

Check: Look under the rear for air shocks and inspect the upper shock mounts for tearing or cracking around the crossmember. Confirm transmission cooler lines are metal tubing, not rubber zip-tied to the sway bar. At full lock, check that power-steering hoses clear the exhaust manifold.

Seen on: 1968 Mercury Cougar XR-7 · 1968 Mercury Cougar 302

moderateOpen (non-Traction-Lok) rear axles on big-torque cars, and undersized factory brakes

raised on 3 of 60 cars, twice by owners of the same model

Javadog62, owner of a comparable car, on 35-Years-Owned 1968 Mercury Cougar XR-7 GT 390: 'I still can't figure out why Mercury (Ford) would put a conventional rear end in a "torque monster" car like this. Mine has a 2.75 conventional and has zero traction when you get on it.' Multiple commenters flagged the same on 1968 Mercury Cougar 7-Litre GT-E ('Conventional' per Marti). On 1969 Mercury Cougar XR-7 with a claimed 500hp 390, gaymondlee: 'Im sure it's too fast for the brakes'; agtxr7 elsewhere: the 390 'will easily overwhelm the stock brakes and tire size... This a fast, mildly dangerous car if not taken seriously.'

Check: Decode the axle code on the Marti Report or door tag. If it is a conventional/open unit and you plan spirited use, factor a Traction-Lok or Truetrac install. On any car making real power, verify a front disc conversion and question drum-only cars hard.

Seen on: 35-Years-Owned 1968 Mercury Cougar XR-7 GT 390 · 1968 Mercury Cougar 7-Litre GT-E · 1969 Mercury Cougar XR-7

major on that generation3.8L Essex composite head gaskets (1989-97 cars) — age-driven, not mileage-driven

raised on the 1997 car by two commenters including a self-identified specialist

pclancy on No Reserve: 35k-Mile 1997 Mercury Cougar XR7: 'Ages is the issue here, not mileage (which is very low). The original head gaskets were composite, and they degrade and become brittle over time. Sitting is harder on them than driving.' Mrhoppy concurred: 'if it's not needed now, due to the age of the car, it will be needed in the near future.' The seller had no replacement records.

Check: Cold-start video, coolant condition, oil for coolant intrusion, overflow tank for exhaust gas. Ask for any head-gasket receipt. Treat a low-mileage, long-stored example as more at risk, not less.

Seen on: No Reserve: 35k-Mile 1997 Mercury Cougar XR7

moderate as an ownership cost1980-era TRX metric wheels/tires and digital instrument clusters

raised on 1 of 60 cars, by three separate owners of the same platform

keith_k on No Reserve: 16k-Mile 1980 Mercury Cougar XR-7: 'They are actually 390 mm wheels... Those may be very difficult to find replacements for. And normal 15" tires won't fit on those rims.' TheCritic on the same car's cluster: 'Digital gauge cluster was a nightmare. Had like 6 put in under warranty.' RCOY80 noted no video ever showed the speedometer lit.

Check: If the car wears 390mm TRX rims, confirm tire condition and price replacements before bidding — standard 15in tires do not fit. Verify the digital speedometer actually illuminates and reads in a driving video.

Seen on: No Reserve: 16k-Mile 1980 Mercury Cougar XR-7

Pre-purchase checklist

Ask the seller

  1. Will you photograph the block VIN stamp and casting date codes, and will you state in writing whether the engine and transmission are original to the car?
  2. Can you provide the Elite Marti Report, window sticker and body buck tag, and do the axle, engine and trim codes match what is on the car today?
  3. Has the car been on a lift? Send me photos of the torque boxes, frame rails, floor pans and fender apron overlaps.
  4. What was the original colour and interior, and when, where and by whom was it repainted or re-trimmed? Was the vinyl top removed before paint?
  5. Is the odometer original, and has it rolled over? What continuous receipt trail supports the indicated figure?
  6. When was the timing set last replaced, and do you have the receipt?
  7. With a thermometer at the vent, what temperature does the A/C blow? Is it R12 or converted, and is the compressor original?
  8. Do the headlight doors stay closed overnight? When was the vacuum system last serviced?
  9. Which gauges, lights, switches and the clock do not currently work, and have you attempted to diagnose them?
  10. Is the rear axle a Traction-Lok or an open unit? Are there air shocks fitted, and have the shock supports been inspected?
  11. For a modified car: where are the dyno sheet, machine-shop invoices and cam specs? On Modified 1970 Mercury Cougar Eliminator the claimed 650hp went unsubstantiated after 67comet26 and ThorsHammer both asked.
  12. When did you buy the car and what did you pay? Several cars here were flipped within 12 months with no work done in between.
  13. Has this car been listed before, on BaT or elsewhere? Under what VIN or listing?
  14. Will you allow an in-person PPI by a Cougar specialist before the auction ends — and will you be present to answer questions during it?

Walk away when

Budget

Decide which Cougar you are buying first; the bands barely overlap. 1967-70 driver-grade with disclosed rust, a colour change and a list of dead accessories: $9,000-$16,000 (1969 Mercury Cougar XR-7 351 at $9,100, No Reserve: 1968 Mercury Cougar XR-7 at $15,000, 1968 Mercury Cougar 302 at $15,750). A solid, honest, well-documented 1967-69 XR-7 hardtop you can enjoy without a project: $20,000-$25,000 (1968 Mercury Cougar XR-7 at $20,300, One-Family-Owned 1968 Mercury Cougar at $20,250, 1968 Mercury Cougar XR-7 at $23,000, 1969 Mercury Cougar XR-7 at $24,250). Award-quality, single-family, fully papered small-block cars top out near $31,000-$41,250 (44-Years-Owned 1967 Mercury Cougar XR-7, 35-Years-Owned 1968 Mercury Cougar XR-7 GT 390). Convertibles: $24,750-$30,000 for a good 1969 XR-7, $29,000 for a non-XR-7 M-code, and $14,750-$20,000 for 1971-73 examples. Eliminators: $32,500 for an honest automatic with a rolled odometer, $39,500 for one-family original paint, and expect $35,500 to be refused on a 428-retrofit car with a changed interior. First-rate restomods: $47,000-$58,000, and the market genuinely pays it when the build is documented. Documented 428 CJ Ram Air, GT-E or XR7-G: $69,500-$100,000, with a matching-numbers CJ convertible plausibly over $100,000 — but note 1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible was refused at $95,000 and 1968 Mercury Cougar 7-Litre GT-E at $76,000, so six figures is not automatic. 1974-80 survivors: $6,500-$12,000, with 31k-mile one-owner cars capable of double that at no reserve. 1989 supercharged MN12 XR-7: $4,400-$7,600 — the cheapest interesting car in the marque. 1994-97: $6,200-$7,500. CMC Tiffany conversions: $12,000-$13,500.

Outliers

1968 Mercury Cougar XR7-G Hertz

1968 Mercury Cougar XR7-G Hertz $100,000

The model's ceiling for a non-CJ car: one of 188 Hertz Rent-A-Racers of 619 XR7-Gs, MCACN Concours Gold, first US production car with a factory power sunroof, ~1,900 restoration hours. Still landed at roughly half the seller's claimed $200k+ investment, and no engine block VIN stamp photo was ever produced despite three commenters asking.

1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible

1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible $86,001

1 of 96, ~32 known to the registry, complete ownership file back to the 12 March 1969 delivery, 1989 refurbishment by Kevin Marti himself. Even so jsv (the winning bidder) documented a non-original carburettor and distributor and 1967-68 wheels — the market paid up for paperwork and rarity, not correctness.

1968 Mercury Cougar 7-Litre GT-E

1968 Mercury Cougar 7-Litre GT-E $76,000

The clearest single data point on numbers-matching. One of just 394 GT-Es and it still failed to sell, because the 427 and transmission are period-correct replacements. 2FeCats: 'this car deserves 6 figures... Wouldn't let it spend coin even with date coded one.' Bidding flatlined for the final four hours.

302-Powered 1968 Mercury Cougar 5-Speed

302-Powered 1968 Mercury Cougar 5-Speed $47,000

A base, non-XR-7 hardtop with 99,000 miles that made near-Eliminator money on execution alone — T5 conversion, 306ci rebuild, Vintage Air, rebuilt suspension, step-by-step build photography and a cold-start video. avidude: 'Ive never seen a small block standard bring this kind of money.'

No Reserve: 1978 Mercury Cougar XR-7

No Reserve: 1978 Mercury Cougar XR-7 $21,753

A malaise-era XR-7 that made big-block-adjacent money at no reserve on 31k miles, one-owner provenance and the 'Midnight Cat' colour combination. The same car came back 14 months later as 1978 Mercury Cougar XR-7 and failed to meet reserve at $9,500 with an unresponsive seller — a $12k round-trip loss and the sharpest warning in this dataset about no-reserve overshoot.

No Reserve: 50k-Mile 1989 Mercury Cougar XR-7

No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 $4,405

A 50k-mile, clean-Carfax supercharged MN12 for less than a set of wheels. Fstcoup: 'a really nice, honest example that unfortunately will not get the love it deserves'; RMQ333: 'Practically given away.' The floor of the Cougar market, and arguably the best value in it.

1969 Mercury Cougar XR-7 351

1969 Mercury Cougar XR-7 351 $9,100

A genuine M-code 1969 XR-7 for $9,100 — reserve dropped late. Rust and filler on the driver's rear quarter, black repaint over Light Ivory, dead A/C, cracked tires. 1940FordCOE called it fairly: 'too much lingering rust to justify putting much money into it', while bigchachu called it 'a steal'. Both are right; that is what the bottom of the 1967-70 market buys.

No Reserve: Mercury Cougar XR-7 Wall Art $5,100

The rear body section of a 1968 XR7-G, wired for working sequential taillights, sold for more than a running 1984 Cougar 5.0. Included here because it sits in the same statistical bucket and skews any naive read of the data — and because it shows how much XR7-G trim alone is worth.

Verdict

The Cougar rewards the buyer who does the documentation work, because the market here prices paper as heavily as metal. If you want a usable 1960s American coupe with better trim and less ubiquity than a Mustang, a documented 1967-69 XR-7 at $20,000-$25,000 is one of the better propositions in the classic market right now — just budget rust inspection and a full pass through the vacuum and electrical systems before you bid. If you want an investment, only the documented, VIN-verified 428 CJ / GT-E / XR7-G / Eliminator cars have shown real appreciation, and the GT-E failure at $76,000 proves that a non-original block caps you well short of six figures no matter how rare the badge. Restomods work if — and only if — the build is receipted, dynoed and shaken down. And the standout value play is the 1989 supercharged XR-7: 50k miles, 315 lb-ft, independent rear suspension, four-wheel discs, $4,400-$5,700. Walk away from any car whose seller will not answer questions in the thread; on this model that behaviour costs 15-30% and it is priced in for a reason.

Two large caveats. First, the 188-auction dataset lumps together 1967-70 muscle cars, 1971-79 personal luxury coupes, 1980s-90s MN12 and MN12-derived cars, 1999-2002 front-drive coupes, CMC Tiffany kit conversions and one piece of wall art that sold for $5,100. The overall median of $19,000 and the +34.0% year-over-year move are therefore mix effects as much as price effects — the 2026 median of $29,000 rests on n=7. Judge only within a generation. Second, the transmission split (manual $42,000 vs automatic $15,126) rests on just six manual cars, all of which were also rare-spec or restomodded; the direction is right but the magnitude is inflated by confounding. Colour medians are similarly thin (n=3-5 each) and effectively meaningless — 'Oxford White at $5,500' is really 'five 1980s MN12s'. Mileage-versus-price is close to random on the 1967-73 cars because five-digit odometers have rolled over on many of them. Finally, most technical findings here come from BaT comment threads. Several commenters — jsv, XR7GRegistrar, Cougar_Guy, Mike_B_SVT, DonRush, Ozzybud — demonstrate genuine registry-level expertise and corroborate each other repeatedly, which is why I weight the rust, vacuum-system, block-stamp and air-shock findings heavily. Single-source claims (the nylon cam sprocket, the Essex head gasket) are consistent with known Ford failure modes but are one person's experience in this dataset and should be verified, not assumed.

Bidding patterns

These are patterns, not findings. A public auction record cannot show intent, and everything below has ordinary explanations — specialists and dealers bid on many cars of one model, enthusiasts run up cars they end up losing, and new accounts are usually just new. Read them as places to look closely, not as accusations.

Screened 59 bid ladders · 21 with something to note · 2 repeat-bidder patterns · thresholds set against this model's own auctions (typical closing window is 50% low-history bidders) · usernames masked for public viewing

b••••o bid on 3 of W••••••9's cars, winning none

Common for a dealer or marque specialist who follows one seller's inventory. It is also the shape worth checking, so here are the listings:

No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 · No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 · No Reserve: 50k-Mile 1989 Mercury Cougar XR-7

e••3 bid on 3 of W••••••9's cars, winning none

Common for a dealer or marque specialist who follows one seller's inventory. It is also the shape worth checking, so here are the listings:

No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 · No Reserve: 50k-Mile 1989 Mercury Cougar XR-7 · No Reserve: 50k-Mile 1989 Mercury Cougar XR-7

Modified 1970 Mercury Cougar Eliminator

35 bids from 10 accounts · sold $58,000 · winner T••••t · underbidder F••••1

watch Closing bids came almost entirely from accounts with no posting history — 8 of 10 bids in the final 15 minutes (80%) came from accounts with under 25 lifetime likes (TheLot, Fasst1). The typical auction for this model runs 50%, so this one is an outlier. Note the measure is weak — likes come from commenting, so a long-time bidder who never posts also scores zero.

1969 Mercury Cougar Convertible M-Code 351

30 bids from 17 accounts · sold $29,000 · winner H••••••c · underbidder A••••••y

watch Closing bids came almost entirely from accounts with no posting history — 6 of 6 bids in the final 15 minutes (100%) came from accounts with under 25 lifetime likes (oneronin, Help4Mac, Auto_Guy). The typical auction for this model runs 50%, so this one is an outlier. Note the measure is weak — likes come from commenting, so a long-time bidder who never posts also scores zero.

1969 Mercury Cougar Convertible 351

36 bids from 15 accounts · no sale, bid to $26,266 · winner L••••••p · underbidder R•••••7

watch Closing bids came almost entirely from accounts with no posting history — 9 of 11 bids in the final 15 minutes (82%) came from accounts with under 25 lifetime likes (Ritter7, Lookin4aFunVintageRagtop). The typical auction for this model runs 50%, so this one is an outlier. Note the measure is weak — likes come from commenting, so a long-time bidder who never posts also scores zero.

No Reserve: 1968 Mercury Cougar XR-7

31 bids from 15 accounts · sold $15,000 · winner J•••8 · underbidder c••••••t

watch Closing bids came almost entirely from accounts with no posting history — 6 of 7 bids in the final 15 minutes (86%) came from accounts with under 25 lifetime likes (chrislinguist, Jav88, slim95). The typical auction for this model runs 50%, so this one is an outlier. Note the measure is weak — likes come from commenting, so a long-time bidder who never posts also scores zero.

No Reserve: 45k-Mile 1989 Mercury Cougar XR-7

12 bids from 6 accounts · sold $7,557 · winner J••••8 · underbidder P••••••5

notice Price set by two accounts trading bids — 60% of the ladder is the same two accounts alternating. This is what a genuine duel looks like too — it only matters alongside another signal.

35-Years-Owned 1968 Mercury Cougar XR-7 GT 390

29 bids from 10 accounts · sold $41,250 · winner M••••••n · underbidder b••••••4

watch Closing bids came almost entirely from accounts with no posting history — 11 of 11 bids in the final 15 minutes (100%) came from accounts with under 25 lifetime likes (MichaelJHarrison, Stopsign79, bryguy74). The typical auction for this model runs 50%, so this one is an outlier. Note the measure is weak — likes come from commenting, so a long-time bidder who never posts also scores zero.

1969 Mercury Cougar XR-7 351

8 bids from 5 accounts · sold $9,100 · winner 3••••d · underbidder C••••••8

watch Underbidder placed much of the ladder — Cliff1018 placed 3 of 8 bids (38%) and did not win. Enthusiastic losing bidders are common; a very high share is still worth reading the thread for.

302-Powered 1968 Mercury Cougar 5-Speed

30 bids from 5 accounts · sold $47,000 · winner b••••••k · underbidder K••••••0

watch Underbidder placed much of the ladder — Kurturban00 placed 14 of 30 bids (47%) and did not win. Enthusiastic losing bidders are common; a very high share is still worth reading the thread for.

watch Closing bids came almost entirely from accounts with no posting history — 18 of 18 bids in the final 15 minutes (100%) came from accounts with under 25 lifetime likes (Kurturban00, beanstalk). The typical auction for this model runs 50%, so this one is an outlier. Note the measure is weak — likes come from commenting, so a long-time bidder who never posts also scores zero.

notice Price set by two accounts trading bids — 79% of the ladder is the same two accounts alternating. This is what a genuine duel looks like too — it only matters alongside another signal.

Comparables read in depth (59)

Modified 1970 Mercury Cougar Eliminator
$58,000
· 79,000 mi · manual · competition orange
A sympathetically executed 1970 Eliminator restomod with strong modern fundamentals and rare-car provenance, but power claims lack documentation and the seller's minimal engagement left diagnostic questions unanswered.
Dyno sheet documentation absent from listing · Engine power figures appear optimistic for stated specifications · Seller largely unengaged in comment thread despite encouragement from multiple commenters (Henna30, LegacyGraphicDesign) that seller interaction drives auction prices higher · Dyno sheet referenced in BaT Essentials but actual results and specifications not provided in gallery or discussion
1973 Mercury Cougar XR-7 Convertible Q-Code 351 4-Speed
$37,000
· 62,000 mi · manual · gold glamour metallic
A genuine rarity—one of 18 known surviving 1973 Cougar convertibles with factory Q-code and 4-speed—offered in excellent condition but with a replaced plastic-window convertible top and sparse pre-2023 history, ultimately spiraling to $37k on enthusiast competition.
Convertible top has plastic rear window instead of glass · Limited documented ownership history · Sparse ownership and service history prior to 2023 · Plastic convertible top instead of correct glass window raises questions about when/where top was replaced
1969 Mercury Cougar Convertible 351
Reserve not met
· 48,000 mi · automatic · red
A fundamentally compromised 1969 Cougar with unknown true mileage, cosmetic masking of suspected deeper rust, loose structural elements, mismatched interior, and non-functional systems—presented as reliable daily driver but exposed by the comment thread as an unfinished project priced well above market tolerance.
Odometer reliability · Headlight grille loose/drooping · Odometer stopped and recently repaired; true mileage unknown despite 48k indication · Extreme thoroughness of color change suggests major dismantling; questions remain about hidden rust and structural integrity
1968 Mercury Cougar 7-Litre GT-E
Reserve not met
· 23,000 mi · automatic · nordic blue
A visually stunning and mechanically sound 1968 Cougar GT-E with one of the most desired 427 FE blocks ever made, fatally hobbled by non-original (albeit period-correct and well-executed) engine and transmission that priced it out of reach for six-figure purist collectors, resulting in a reserve-not-met outcome at $76k despite exceptional restoration quality and genuine rarity.
Non-original engine and transmission · Knee pad discontinuation discrepancy · Engine and transmission are replaced, not original to car—stated by seller but noted as major concern by multiple commenters regarding collectibility and resale value · Knee pad present on a car supposedly built April 16, 1968, after the January 1 discontinuation date—internal inconsistency with build documentation
428-Powered 1968 Mercury Cougar XR-7 4-Speed
$58,000
· 83,000 mi · manual · red with silver lower-body accents and black hood stripe
A cosmetically stunning Police Interceptor-based 428 four-speed Cougar with a significant yet-unresolved transmission defect and vague engine documentation that was expertly built but sold on consignment by a dealer who could not answer critical powertrain questions in real time.
Transmission popped out of third gear · Ambiguous engine specifications and provenance · Engine rebuild specifications vague; builder claims 396hp but no dyno report provided and measurement basis unclear (flywheel vs wheel horsepower) · Police Interceptor block conversion (solid to hydraulic lifter) is unusual; commenter jsv notes it is unconventional and question remains whether it is properly engineered for 396hp output
1969 Mercury Cougar Convertible M-Code 351
$29,000
· 50,000 mi · automatic · white
Rare M-code 1969 Cougar convertible with strong cosmetics and solid mechanics achieved fair market price but lacks documentation (no Marti report, missing body tag) to definitively prove original GT package specification, and key service history gaps warrant pre-purchase inspection.
potential authenticity questions regarding GT package specification · Seller's business model of 55 listings over 7 years from various states raises questions about 'private party' designation (commenter odhutch) · no Marti report available; seller claims VIN decoding by BaT and seller matches standard report findings
428-Powered 1969 Mercury Cougar Eliminator
Reserve not met
· 84,000 mi · automatic · bright blue metallic
A well-intentioned but heavy-handed 2008–2013 frame-off restoration that prioritized 428ci grunt over originality, spent critical budget on hidden structural work, then sat through multiple ownership transfers shedding gauges and original character—arriving at auction as a competent but soulless 1969 Eliminator with dubious final odometer credibility.
Speedo cable and tach hookup needed post-rebuild · Extensive mechanical and cosmetic work done by Gary c2008-2013 with only minor changes claimed by subsequent owners, yet mileage jumped from ~82,790 in 2013-2015 listings to 84,000+ now—approximately 1,200+ miles spread across multiple owners over a decade, suggesting incomplete documentation or unclear service history · Interior changed from original blue to black, destroying originality and concours appeal
No Reserve: 35k-Mile 1997 Mercury Cougar XR7
$6,750
· 35,000 mi · automatic · white
Exceptionally low-mileage 1997 Cougar with strong cosmetic investment and solid current condition, but age-related head gasket vulnerability is imminent regardless of current mechanical inspection, and sparse documented service history is a concern for a 27-year-old car that may have sat for years.
head gasket age risk · very low mileage (35k) on 27-year-old vehicle suggests extended storage, increasing risk of fluid degradation and rubber component failure · composite head gaskets known failure point on 3.8L Essex engines; age is the primary concern not mileage
1969 Mercury Cougar Convertible 351
Reserve not met
· 14,000 mi · automatic · burnt orange metallic
A genuinely desirable and mechanically sound 1969 Cougar convertible severely undermined by a hostile, non-communicative seller who refused standard pre-purchase verification and ultimately failed to meet reserve, likely leaving $5–10k on the table through pure antagonism.
Original mileage unknown · Limited mechanical verification · Seller actively discouraged questions ('Need more comments from people that are bidding, less from people that are not') · Lien amount not disclosed upfront (corkynd revealed $13k lien in comments)
1973 Mercury Cougar Convertible
$20,000
· 34,000 mi · automatic · red
A solid, low-mileage final-year Mercury convertible with a professional refurbishment, minor cosmetic imperfections, and a post-reserve off-market sale suggesting buyer and seller found middle ground above the $17k bid ceiling.
Duplicate California title noted · Prior refurbishment by unknown party raises questions about work quality and hidden repairs
No Reserve: 1968 Mercury Cougar XR-7
$15,000
· 87,000 mi · automatic · diamond blue
Original, well-preserved 1968 Cougar XR-7 with strong provenance and low mileage, but nylon cam-sprocket timing-chain failure looms as the critical mechanical risk at 87k miles, and several non-operational gauges plus AC issues require attention—a solid restoration candidate but not a turn-key driver.
Air conditioning does not blow cold · Dry-rotted tires · Odometer branded 'Exempt' on title—typical for older cars but limits mileage verification confidence · Three non-operational gauges (tach, fuel, temp) not diagnosed by seller; could indicate electrical or gauge cluster issues
No Reserve: 45k-Mile 1989 Mercury Cougar XR-7
$7,557
· 45,000 mi · automatic · oxford white
An exceptionally low-mileage, original-paint, rare-color 1989 Cougar XR-7 with supercharger that sold cleanly despite removed catalytic converters and motorized seat belts being historical turnoffs for some buyers, though offered honestly with strong mechanical health and comprehensive documentation.
Catalytic converters removed · Catalytic converters removed prior to current ownership with no explanation of why—potential tuning or emissions bypass concern, though seller claims no tuning adjustments made · Original catalytic converters not retained, making restoration to stock emissions configuration difficult for future buyers in regulated areas
1968 Mercury Cougar XR7-G Hertz
$100,000
· 69,000 mi · automatic · cardinal red
A meticulously documented and award-winning resurrection of an extremely rare factory performance Cougar that fell short of its six-figure restoration cost at auction, hampered by minor sheet metal/alignment inconsistencies and absence of photographic engine-block VIN verification despite seller claims of numbers-matching authenticity.
Questionable original engine and transmission · No engine block VIN stamp photos provided despite multiple requests; seller claims access limited to car post-auction · Door trim tag has overspray/tape artifacts from factory; seller chose original (flawed) tag over replacement despite restoration cost
1978 Mercury Cougar XR-7
Reserve not met
· 31,000 mi · automatic · dark midnight blue
Genuinely clean low-mile Cougar with original character ruined by seller's rushed 14-month flip, unresponsiveness to legitimate buyer questions, and apparent over-payment; reserve miss at $9.5k reflects market skepticism.
underside rust noted · seller unresponsive to buyer questions · Rapid flip: purchased by current seller October 2024, resold December 2025 (approximately 14 months); prior owner held 46 years. · Seller unresponsive during auction: ignored multiple technical questions from bidders in final days, particularly about undercarriage condition, trunk photos, A/C function, and stereo type.
1968 Mercury Cougar 302
$15,750
· 7,000 mi · c4 · diamond blue
Clean, mostly original 1968 Cougar with the rare bench-seat configuration and unusual paint/trim combination, hampered only by a subtle power steering routing issue and rolled odometer, that sold at fair market for $15,750 after steady bidding.
power steering hoses routing concern · odometer rolled over at 5-digit gauge; actual mileage 50k since 2008 but displayed as 7k · tow bar present and removable; suggests possible towing history
1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air
$69,500
· 64,000 mi · automatic · black
A rare, well-preserved factory-optioned 1969 428 CJ Cougar hampered by a murky three-time engine block replacement history and unresolvable block provenance that raises serious questions about authenticity despite solid documentation and previous knowledgeable ownership.
Engine block replacement third time for this car · Reverse lights initially not working · Engine block provenance murky: third replacement block for this car; original block from another car (Q-code Ford XL per BigTanks); current block has unreadable factory VIN stamp that Marti could not decode · Engine was blown up by body shop during previous ownership; third block sourced without proper documentation trail
35-Years-Owned 1968 Mercury Cougar XR-7 GT 390
$41,250
· 500 mi · automatic · dark blue
A cosmetically restored and mechanically sound 1968 Cougar with credible provenance, but the rolled odometer, non-original paint, and chassis limitations (conventional rear axle) require transparent buyer expectations about authenticity and usability.
Odometer rolled over · Paint not original shade match · Long storage gap (six years) while with body shop before paint completion raises durability and quality-control questions · Odometer rolled over; mileage history opaque
1969 Mercury Cougar XR-7 351
$9,100
· 48,000 mi · automatic · black
A visually appealing 1969 Cougar XR-7 with a freshly serviced original 351 Windsor, compromised by repainting from original, visible body filler and rust on the driver side, and undisclosed prior repair history that warranted significant floor pan and carpet replacement.
Rust visible on body panels · Body filler present on driver side 3/4 panel · Repaint from original Light Ivory to black without documented reason or timeline · Body filler and rust visible on driver side 3/4 panel suggests prior damage or deterioration
302-Powered 1968 Mercury Cougar 5-Speed
$47,000
· 99,000 mi · manual · augusta green
Well-executed, comprehensively documented 306ci restomod with impeccable work logs and test-drive validation, but gaps in ownership history (2017–2022) and unaddressed factory trim discrepancies warrant careful pre-purchase inspection by the new owner.
body repairs history · incomplete documentation of pre-2022 ownership · export-import history with vague timeline ('presumably sometime in 2018 or 2019'; 'presumably sometime in 2020') · incomplete ownership chain documentation for Canadian and European periods
No Reserve: 50k-Mile 1989 Mercury Cougar XR-7
$5,650
· 50,000 mi · automatic · oxford white
A rare, low-mileage first-generation supercharged Cougar with good bones but a troubled sales history marked by two failed transactions, undisclosed dashboard warning lights, A/C retrofit complications, and an A/C leak that required freon, warranting mechanical inspection before any cross-country delivery.
Two previous winning bidders failed to complete purchases within months, raising questions about undisclosed issues or buyer remorse · Seller did not address A/C service before first listing despite calling it a minor issue
No Reserve: 16k-Mile 1980 Mercury Cougar XR-7
$11,500
· 16,000 mi · automatic · black
A single-owner, sub-16k-mile 1980 Mercury Cougar XR-7 survivor with factory TRX metric tires and complete documentation, but buyers should be aware that the digital gauge cluster has a known reliability issue, the heater core replacement was just completed, and future tire/wheel maintenance will be expensive and difficult.
TRX metric tires extremely difficult and expensive to replace ($460+ each from Michelin; reproductions also costly) · Digital gauge cluster reliability concerns noted by TheCritic: '6 put in under warranty' on similar era Thunderbird
1969 Mercury Cougar Eliminator 351
$32,500
· 34,000 mi · automatic · yellow
A well-documented first-generation Eliminator with rare early provenance and service records through 2004, but repaint timing/quality and persistent vacuum leaks introduce minor uncertainty around its pre-2020 history and current mechanical robustness.
Power steering leak · Odometer rolled over; mileage unreliable despite claimed 60+ service receipts · Repaint timing unknown: occurred between 2004 and 2020, prior condition and location of work not documented
19k-Mile 1979 Mercury Cougar XR-7
$12,000
· 19,000 mi · automatic · dark red
A cosmetically refreshed, low-mileage 1979 Cougar XR-7 with sound mechanicals but deferred maintenance unknowns, sold by an experienced dealer who himself advised against road trips, ultimately realizing $12k—well below the $15k target, signaling soft market appetite or unresolved buyer confidence issues.
Seller discouraged long-distance driving immediately after purchase, citing 46-year-old parts and uncertain service history on extended trips. While seller claims nothing mechanically wrong, the cautionary stance and last-minute inspection commitment suggest potential unknowns. · Paint work on lower rocker panels, front fascia, and bumper fillers indicates prior damage or corrosion that was addressed; scope of original damage not disclosed.
1968 Mercury Cougar XR-7
$20,300
· 57,000 mi · automatic · metallic burgundy
A well-executed cosmetic and mechanical refresh with quality recent service work, but mileage provenance is opaque, key systems remain modified/incomplete, and several deferred maintenance items noted by specialists could become costly problems for the enthusiast buyer.
transmission cooling lines may be at risk · air shocks in rear may eventually damage shock supports · Total mileage unknown; odometer reading unreliable due to unknown prior history · Engine and transmission both rebuilt 8,000 miles ago under previous ownership but no documentation provided
No Reserve: 1971 Mercury Cougar XR-7 Convertible
$16,300
· 99,000 mi · automatic · blue
A cosmetically attractive and rarity-badge 1971 XR-7 convertible with recent routine maintenance but unresolved electrical gremlins, unknown cooling system history, and mileage unverifiable beyond odometer reading—best suited as a local show car rather than long-distance driver.
Air conditioning non-functional · Muffler dent and underside corrosion · Previous buyer failed to complete purchase in August 2024 listing (though seller states this was not due to vehicle fault) · Paint refreshed under previous ownership with no documentation of year or quality
No Reserve: 50k-Mile 1989 Mercury Cougar XR-7
$5,500
· 50,000 mi · automatic · oxford white
A genuinely low-mileage, supercharged daily-driver sleeper that overcame a previous failed sale to reach fair market value, pending verification that the 50k miles are genuine and the A/C receives service.
Previous auction (August 2025) saw winning bidder fail to follow through on purchase, citing high shipping costs to Los Angeles; buyer was de-platformed · Low mileage (50k) for a 1989 model may warrant verification of odometer accuracy
34k-Mile 2000 Mercury Cougar V6
Reserve not met
· 34,000 mi · automatic · silver frost clearcoat metallic
A low-mile, well-documented Cougar with undeniable provenance that nonetheless carries unresolved questions about a 2005 front-end accident, implausible tire age relative to claimed mileage, and a reserve that suggested overvaluation despite genuine period-correct charm.
Front-end damage reported on Carfax · Tire age mismatch with claimed low mileage · 2005 damage history on Carfax not fully explained or contextualized · tires date from 2020 despite claimed 34k lifetime miles (implies either mileage is inaccurate or tires are recent replacement not disclosed)
1973 Mercury Cougar XR-7 Convertible
$19,525
· 90,000 mi · automatic · bright red
A well-maintained, rust-free 1973 XR-7 convertible with a recently rebuilt 351 Cobra Jet engine and clean history that attracted serious bidders to $19.5k, though minor cosmetic issues and fuel/brake line surface rust warrant pre-purchase inspection.
Light rust on fuel lines and brake lines
1970 Mercury Cougar 351
Reserve not met
· 74,000 mi · automatic · red
A well-executed 2015 full-body-off Eliminator tribute with modern underpinnings and reliable 351C power that passed harsh inspection, but door alignment and detail finish gaps, combined with a reserve shortfall at auction, suggest either inflated build-cost claims or buyer hesitation over the resto-mod versus stock value proposition in the export market.
Door gaps and body alignment issues require attention but seller minimizes them · Heater fan disconnected rather than repaired suggests selective maintenance approach
No Reserve: 50k-Mile 1989 Mercury Cougar XR-7
$4,405
· 50,000 mi · automatic · oxford white
A genuinely low-mileage, well-maintained supercharged sleeper that sold for what insiders felt was a bargain, with only a minor A/C recharge needed as an operational concern.
1969 Mercury Cougar XR-7 Convertible 351 4-Speed
$24,750
· 58,000 mi · manual · dark ivy green metallic
A meticulously restored rare M-code 351 4-speed convertible with strong originality credentials and comprehensive service history undermined by mixed paint authenticity (replacement passenger fender), aged tires never swapped during ownership, and unresolved cracking paint on driver-side panels that seller could not definitively test before closing.
cracking paint on left door and quarter panel · passenger fender replacement at unknown point in history · Passenger fender replaced at unknown point in history with no documentation provided · Cracking paint on quarter panel with bondo repair; seller unable to provide magnet test verification before auction close
1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible
Reserve not met
· 59,000 mi · automatic · bright blue metallic
Exceptionally rare and meticulously restored 1969 428 CJ Cougar convertible with complete provenance, verified low original mileage, and no structural compromise—but reserve was not met at $95k, suggesting buyer and seller remain some distance apart on value.
Kevin Marti's letter (photo 160) is undated, contains a spelling mistake, and discusses another car owner's impressive collection rather than focusing solely on this car's restoration (flagged by commenter Chase68) · Slight asymmetry in fender gaps typical of era but warrants inspection for hidden repair history
306-Powered 1967 Mercury Cougar Fastback Conversion
Reserve not met
· 8,000 mi · automatic · nordic blue
A genuinely cool one-off fastback conversion with impressive period fabrication work, but the seller's complete auction silence, undocumented structural work, and visible weathering combined to spook buyers despite reaching $28k with reserve unmet.
roof damage history · quarter panel welding quality undocumented · seller has zero engagement in comment thread despite 104 comments and numerous direct questions over entire auction period · seller member since 2020 with no auction participation pattern established
One-Family-Owned 1969 Mercury Cougar Eliminator 351
$39,500
· 80,000 mi · automatic · bright yellow
A genuinely rare, low-mileage 1969 Eliminator survivor with excellent provenance and original paint, marred by seller evasiveness on undercarriage overspray and missing lift photos that undermined buyer confidence and cost thousands in final bids.
Possible overspray on undercarriage · Undercarriage photography quality insufficient to rule out repainting—seller refused lift photos despite commenter request and concern · Seller defensive when pressed on overspray; deflected with GM comparison rather than providing clarity
42-Years-Owned 1971 Mercury Cougar XR-7 Convertible
Reserve not met
· 90,000 mi · automatic · white
A well-maintained, low-mileage, one-of-28 1971 Mercury Cougar XR-7 with comprehensive 2017 mechanical refresh and documented 42-year single-family ownership, compromised by salt-belt corrosion concerns, a rust hole in the right-front fender, a defunct horn, and insufficient market appetite to clear its reserve despite solid late bidding.
Rust hole in left-front inner fender well · Undercarriage corrosion concerns from long-term NYC storage · Significant gap in documented service history: last recorded major service in 2017, followed by no maintenance records provided for 2017-2025 period despite being stored in salt-belt state · Seller's conflicting statements about rust location (initially said 'front left looks fine, front right has rust hole' after initially listing it as left-front inner fender)
1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible
$78,000
· 11,000 mi · automatic · red
Extremely rare 428 Cobra Jet convertible (1 of 96 made, ~32 known to survive) with meticulous 1989-93 rotisserie restoration and consistent collector care, but non-original engine block, repainted finish, and extensive modern modifications complicate authenticity while strong Bond film connection and solid $78k sale price reflect collector-grade appeal despite mileage ambiguity.
rust bubble on passenger door · engine block is warranty replacement, not original · non-original engine block (warranty replacement) · odometer believed to have rolled over; actual total mileage unknown despite significant use
1986 CMC Tiffany Classic Coupe
$13,500
· 11,000 mi · automatic · white
A heavily customized 1986 Mercury Cougar masquerading as a 1930s luxury car with questionable long-term mechanical viability but strong period-accessory eye candy appeal that attracted motivated bidders to $13,500.
Air conditioning does not blow cold · Intermittent taillight function suggests electrical gremlins · HVAC system non-functional
1968 Mercury Cougar XR-7
$23,000
· 99,000 mi · automatic · red
Desirable 1968 XR-7 with period-correct specs and recent service work, but the seller's casual ownership, undisclosed body condition, original white paint under new red finish, and rapid 11-month flip raise concerns about hidden issues and motivation.
Unknown body condition and potential body filler · Seller purchased car on BaT in April 2024 and is reselling in March 2025 (11 months later)—possible flip · Seller claims car was refinished in red under prior ownership but original body tag shows Saxony (creamy white); repaint history not fully transparent
No Reserve: 1986 CMC Tiffany Classic Coupe
$12,000
· 70,000 mi · automatic · white
A well-maintained but unmistakably Mercury-Cougar-based 1980s neo-classic conversion that appeals to a narrow enthusiast demographic and sold for $12k after hesitant bidding began only in the final half-hour.
Rattling noise in driving video · Seller did not address the rattling noise concern raised in comments · No response to missing body side moldings observation
1968 Mercury Cougar
Reserve not met
· 91,000 mi · automatic · turquoise
Honest cosmetic presentation of a solid driver-grade 1968 Cougar with fresh mechanical work, but rising paint and rust concerns, uncertain history, and an asking price substantially above final reserve-not-met auction value signal an overextended seller.
Paint bubbling and corrosion · Possible rust under vinyl roof · Unknown original hood - replaced part not documented · Passenger-side mirror stated as factory by seller but gMBmw correctly notes no factory passenger mirrors existed on 1967-1968 Cougars; appears to be aftermarket
No Reserve: 1994 Mercury Cougar XR7
$7,500
· 31,000 mi · automatic · vibrant white clearcoat
A genuinely low-mileage, clean Cougar that sold briskly but carries minor red flags around the mileage inconsistency history, a rushed six-month flip with a questionable motivation narrative, and unconfirmed fixes to previously documented electrical issues.
Very limited mileage added (82 miles) over four-year period since mileage inconsistency was recorded, suggesting either storage or potential mileage manipulation · Seller flipping car after only 6 months of ownership with vague reason (wife didn't like it due to cup holders, though they appear to exist in photos), suggests rushed sale
1974 Mercury Cougar XR-7
$11,000
· 85,087 mi · automatic · medium slate blue metallic
A presentable 1974 Cougar with solid mechanicals and good bones, but the quick dealer flip, visible paint defects, and incomplete disclosure on service history warrant pre-purchase inspection of frame and structural integrity.
Paint cracks in roof gutters · Rust bubble on lower right-front fender · Quick turnaround: acquired December 2024, consigned for sale by February 2025 (dealer flip pattern) · Believed repaint: seller states car 'is believed to have been repainted under previous ownership' rather than factory finish
1969 Mercury Cougar XR-7
$24,250
· 95,000 mi · automatic · blue
Well-executed but underdocumented 500hp restomod with missing original engine rebuild papers, disconnected factory gauges, and unverified non-original exterior trim, that nonetheless sold strong to an enthusiast who got the sentimental car he always wanted.
Hood scoop and rear spoiler origin unclear · Rocker panels and quarter panel replaced · Original engine rebuild documentation by Rex Hutchison from c.2016 not provided; seller stated 'current owner couldn't find any of the rebuild documents' · Hood scoop and rear spoiler authenticity unverified; seller acknowledged uncertainty about whether these factory options were actually installed correctly
1971 Mercury Cougar Convertible
Reserve not met
· 78,000 mi · automatic · orange
A cosmetically refreshed but lightly documented 1971 Cougar convertible with questionable mechanical decisions (A/C gutting, aged tires, top operation unclear) that failed to attract serious bidding despite rarity claims, suggesting restoration work and verification documentation are necessary before buyer confidence materializes.
Aged tires with 2000 date codes · A/C system removal reasoning unclear · No Marti Report obtained despite Matthewsgo and CarFoolLane recommending it on a rush basis to verify authenticity and original specifications · Original color unknown — orange is non-original; original paint color never disclosed
1969 Mercury Cougar XR-7 Convertible
Reserve not met
· 98,000 mi · automatic · white
A well-executed 1969 Cougar XR-7 driver with desirable 351 performance heads and responsive vacuum systems, but non-original interior, color swap, undocumented body-gap history, and persistent oil leak on the swapped engine combined to cap final value below reserve.
oil leak · engine swap history unclear—351ci installed in 2002 but no documentation of original engine or condition before swap · color discrepancy—trim tag decodes to 'Dark Ivy Green' but current Georgia title lists green and car is now white; prior owner motivation stated but paint quality/process not detailed
1967 Mercury Cougar 390
Reserve not met
· 33,000 mi · automatic · green
An unusually well-optioned 1967 390 XR-7 with solid bones but cosmetic and mechanical rough edges (upside-down grille, mismatched interior, VIN discrepancy, engine ticking, charging issue) that held back bidding below market expectations for an early big-block Cougar with documented provenance.
Engine ticking/lifter noise · Center grille section installed upside-down · VIN mismatch between door tag (93) and fender stamp (91) - potential registration issue in some US states · Engine ticking discovered during auction, diagnosis unclear, FE-block 390 lifter work is labor-intensive
No Reserve: 1979 Mercury Cougar XR-7
$6,500
· 65,000 mi · automatic · dark cordovan metallic
A well-preserved, zero-reserve Malaise Era luxury coupe with disputed sunroof authenticity, underside rust of unclear extent, and all systems claimed functional—meticulously kept by an enthusiastic long-term owner but lacking a Marti report to fully document originality.
Rust present on underside · Sunroof molding inconsistent with factory 1979 specifications; seller's claim contradicted by marque-knowledgeable commenters and photographic evidence from comparable documented example · No Marti report provided despite multiple commenters (Bassettclassics) recommending a Deluxe Marti Report to help bidding and verify originality
No Reserve: 1967 Mercury Cougar Dan Gurney Special
$13,500
· 3,000 mi · automatic · metallic green
Original, numbers-matching first-gen Cougar with genuine appeal and working AC, but odometer-rollover uncertainty, active radiator and brake system leaks, rust/paint damage contradicting 'rust-free' claims, and unresolved floor-pan corrosion demand thorough PPI before committing to long-term ownership.
odometer rollover · floor pan rust holes · odometer rolled over at 3k miles—true mileage unknown · radiator seeping and requiring monitoring
No Reserve: 1978 Mercury Cougar XR-7
$21,753
· 31,000 mi · automatic · dark midnight blue
Well-preserved single-owner 'Midnight Cat' with exceptionally low mileage and documented provenance commands strong price despite minor cosmetic wear, exhaust rust, and unverified mileage; represents an atypical survivor of 1978 malaise-era excess in original, unrestored condition.
holes in exhaust pipe · seller replaced aftermarket carburetor in August 2024 but has original unit; uncertain whether ongoing engine issues prompted this work · mileage appears exceptionally low at 31k for a 1978 vehicle with claimed single ownership; no independent verification provided beyond odometer reading
1969 Mercury Cougar XR-7 Convertible 351 4-Speed
$30,000
· 16,000 mi · manual · competition orange
A well-optioned and ultra-rare four-speed XR-7 convertible compromised by visible body rust and unresolved paint documentation inconsistencies, but strong bidding reflects collector appetite for the specification regardless.
Body rust visible · Driver-side quarter panel replaced · Paint color inconsistency: Marti Report lists Ford Red Paint #2006-A, but seller claims Competition Orange/Calypso Coral; commenters debate whether car is actually red or orange, with sunlight/camera confusion cited by seller · Unclear mileage basis: odometer shows 16k but total mileage unknown (TMU)
1968 Mercury Cougar
Reserve not met
· 78,000 mi · automatic · light green
A well-preserved second-generation Cougar with honest 78k miles and excellent recent stewardship, but the $15,500+ ask fell short of market appetite, likely due to paint age (20 years), missing documentation from prior 52-year ownership era, and several deferred mechanical repairs that buyers spotted instantly.
mileage verification gap: seller claims odometer is original but admits previous owner of 52 years could not find repair receipts when seller purchased car in 2019/2020 · antenna capped rather than replaced or explained; suggests possible prior damage or modification not detailed
One-Family-Owned 1968 Mercury Cougar
$20,250
· 75,000 mi · automatic · polar white
A meticulously preserved one-family-owned 1968 Cougar with impeccable documentation and award-winning restoration, though the rationale for 1998 oil pump replacement warrants clarification and the non-functional AC may require condenser/compressor replacement.
oil pump replacement rationale unclear · oil pump replacement in 1998 service lacks clear explanation; commenter with 35 years experience notes this is highly unusual · no driving video provided despite being a 55-year-old car offered for sale
1970 Mercury Cougar XR-7 Convertible
$15,251
· 80,000 mi · automatic · white
Well-executed 1970 convertible restomod with recent mechanical overhaul and clean provenance, though prior refinish and metal repairs point to earlier accident or corrosion exposure that should be inspected by a buyer's mechanic.
Evidence of metal repairs and prior refinish · Engine origin unclear initially—seller first did not specify 351C vs Windsor, then clarified it was a 351C from a 1972 Mustang · Prior refinish in white with metal repairs suggests past accident or significant corrosion
1969 Mercury Cougar XR-7 351 Convertible
Reserve not met
· 50,000 mi · automatic · maroon
A comprehensively modified 1969 Cougar with a modern 408ci stroker and late-model suspension offers fun factor but carries deferred A/C work, prior passenger-fender damage, and 50k-mile TMU status that justified reserve-not-met on a $21k ceiling.
Passenger-side front fender prior damage · A/C system not charged · Total mileage unknown despite 50-year age (only last 2k miles under current ownership documented) · A/C system mentioned as functional but critically not charged; seller deferred expensive conversion work
No Reserve: 1994 Mercury Cougar XR7
$6,200
· 31,000 mi · automatic · vibrant white clearcoat
Exceptionally low-mileage single-owner 1994 Cougar with fresh cooling work and desirable color combo sold at a discount final price, suggesting market skepticism about true condition or mileage despite clean documentation.
Carfax mileage inconsistency in January 2021 entry, even if marked as possible clerical error, warrants verification · Seller mentions acquiring car from 'Car Charity' but claims it was single-owner from new; unclear if this is consistent
44-Years-Owned 1967 Mercury Cougar XR-7
$31,250
· 21,000 mi · automatic · copper brown metallic
A comprehensively restored and award-winning first-generation Cougar XR-7 with honest single-owner provenance and strong emotional appeal, but marred by cosmetic rust bubbles under the vinyl top, electrical modifications of questionable design, and unverifiable actual mileage due to odometer rollover.
Rust bubbles under rear window vinyl · Odometer rolled over; seller claims to have driven over 100k miles but only 21k showing—actual mileage cannot be verified · Vinyl top installed after repainting (seller admits this was done in wrong order, which may compromise paint seal)
No Reserve: 31k-Mile 1984 Mercury Cougar 5.0
$3,900
· 31,000 mi · automatic · oxford white
A genuine sub-4k single-owner 31k-mile 1984 Cougar V8 time capsule with sound bones and documented service, though faint rental-car vibes and visible cosmoline dust warrant confirming the true provenance and confirming all systems operate as advertised.
appearance suggests possible rental history despite seller's claim of single original owner registration until 2024 · commenter specifically queried VIN asking if it was ever a rental; seller denied having information
No Reserve: 1971 Mercury Cougar XR-7 Convertible
$14,750
· 99,000 mi · automatic · blue
Well-maintained but previously damaged and partially restored 1971 Cougar with strong appeal to marque enthusiasts, marred by a failed sale when the winning bidder attempted to retract their $14,750 bid.
Underside corrosion · Original rear quarter panels replaced · Car was refinished under previous ownership, suggesting possible prior accident or damage · Quarter panel replacement indicates prior damage or collision
1969 Mercury Cougar XR-7 428 Cobra Jet Ram Air Convertible
$86,001
· 59,000 mi · automatic · bright blue metallic
An exceptionally rare factory-optioned 428 Cobra Jet Mercury sleeper with complete documentation and ownership history from new, marred by non-original carburetor and distributor requiring $5K+ to restore, incorrect wheels, and unresolved rear power window issue, but ultimately secured by a knowledgeable specialist buyer at $86,001—below early six-figure speculation but fair for the documented rarity and condition trade-offs.
Carburetor not original · Distributor not original · Engine block VIN not clearly verified despite seller attempting video documentation · Carburetor and distributor non-original, with significant cost to restore ($5K+)

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