Ford Mustang GT Convertible

1994 to 2004 · Convertible

A 1994 Ford Mustang GT Convertible cost $20,160 new. Over the past 12 months, 34 have sold publicly at a median of $10,275. The Shifty Estimate for a well-kept example is $11,100. Across the sales we have on file, prices ran from $3,800 to $28,500, depending on mileage, color, and history.

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Shifty Estimate

$11,100

High confidence · $7K to $18K

11.6% over 12 months

Oct 2025Rolling 6-month medianOct 2026

Median · 12 mo: $10,275
Sales · 12 mo: 34
Original MSRP: $20,160Down 45% since new

Enthusiast

1994 Ford Mustang GT Convertible, sold Oct 2026

Sold$7,500 · Bring a Trailer · Oct 2026

The market

Every recorded 1994 Ford Mustang GT Convertible sale, by date and price

Oct 2026 · Bring a Trailer

$7,500 · 25,000 mi · Red

See this car

Sold Bid to, not sold

70 sales · 12 unsoldmedian $10kupdated Oct 2026

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Latest results

The newest 1994 Ford Mustang GT Convertible sales with photographs

Sold $14,750

2004 · Redfire Metallic (G2) · 22,000 mi

Oct 21, 2026 · Bring a Trailer

Sold $8,800

1997 · Crystal White Clearcoat · 62,000 mi

Oct 16, 2026 · Bring a Trailer

Sold $16,805

2003 · Sonic Blue Metallic · 3,100 mi

Oct 12, 2026 · Bring a Trailer

Sold $10,300

2000 · Crystal White · 8,315 mi

Oct 5, 2026 · Hemmings

1994 Ford Mustang GT Convertible, sold Sep 2026

Sold $24,500

1999 · Rio Red Tinted Clearcoat · 79,000 mi

Sep 28, 2026 · Bring a Trailer

Sold $9,450

1999 · Silver · 69,990 mi

Sep 7, 2026 · AllCollectorCars

Every SN95

Sold prices, last 12 months · Oct 29, 2026

Every SN95. Sold prices, last 12 months · Oct 29, 2026
	GT Convertible1994 to 2004	Mach 12003 to 2004	Bullitt2001	SVT Cobra R1995 to 2000	Base Convertible1994 to 2004	GT1994 to 2004	GT Premium1994 to 2004	SVT Cobra1994 to 2004	SVT Cobra Convertible1994 to 2004
Shifty Estimate	$11,100	$17,400	$20,000	$85,600	$10,800	$14,900	$16,000Low confidence	$24,000	$26,000
Sold median	$10,27534 sales	$19,2509 sales	$19,0015 sales	$82,5004 sales	Too few sales to call1 sale	$15,25033 sales	Too few sales to call1 sale	$25,25051 sales	$19,50037 sales
12-month move	Down 11.6%	Too few sales to call	Too few sales to call	Too few sales to call	Too few sales to call	Up 8.0%	Too few sales to call	Up 27.2%	Up 14.7%
For sale	None	38	None	None	None	None	None	1	None

Other Mustang generations

Also on file, with no sale or listing yet: SVT Cobra 10th Anniversary.

Specifications

Engine: V8, 5.0L
Power: 215 hp
Torque: 285 lb-ft
0 to 60: 7.5 s
Top speed: 129 mph
Transmission: Manual
Drivetrain: RWD
Original MSRP: $20,160

Common questions

How much does a Ford Mustang GT Convertible cost?

What is a 1994 Ford Mustang GT Convertible worth today?

The Shifty Estimate is $11,100, down 11.6% over the past 12 months. Confidence is high: 34 public sales in a year gives a firm read.

Is a Ford Mustang GT Convertible a good investment?

It has depreciated 45% against its $20,160 list price. Values are down 11.6% over the past 12 months. The caution is spread, not direction: across the sales we have on file, prices ran from $3,800 to $28,500, and mileage explains most of that.

How many Ford Mustang GT Convertible have sold?

Shifty has 72 public sales of the Ford Mustang GT Convertible on file. The earliest was on Jul 13, 2023.

What is the most expensive Ford Mustang GT Convertible sold?

The highest public sale on file is $28,500, on Oct 31, 2024, with 681 mi.

What has a Ford Mustang GT Convertible sold for at auction?

The 3 most recent public sales we have on file:

$7,500Oct 23, 2026Red · 25,000 mi
$14,750Oct 21, 2026Redfire Metallic (G2) · 22,000 mi
$8,800Oct 16, 2026Crystal White Clearcoat · 62,000 mi

About the 1994 Ford Mustang GT Convertible

The SN95-generation Mustang GT Convertible represents Ford's successful reinvention of the pony car for the '90s. Built on the Fox platform's evolution, these GTs packed a 4.6-liter SOHC V8 producing 215-260 horsepower depending on year, paired with either a 5-speed manual or 4-speed automatic. The convertible's power-operated soft top and improved structural rigidity addressed earlier concerns about flex and refinement. Notable updates include the 1999 refresh with revised styling and the introduction of the superior PI (Performance Improved) heads in 2001, boosting output to 260 hp. While overshadowed by the SVT Cobra, clean examples with low miles are increasingly sought after by collectors who appreciate their blend of accessible performance and open-air driving. The final 2004 models, particularly in desirable colors like Torch Red or Mineral Grey, represent the end of an era before the retro-styled S197 generation arrived.