Somebody’s going to get quite a bargain. The 1947 Lincoln Continental V12 for sale on Craigslist in Memphis, Tennessee appears to be a very solid, unmolested example. And the owner, who inherited it from his late Lincoln collector father, is asking only $12,000 for it.

The owner says he lacks garage space for this big Lincoln and hopes “it goes to a good home”. He asserts it is a nice original with three on the tree that has never been modified. Reached at home, owner Jim says the car was running and driving fine when it was parked, after purchase at an estate sale eight years ago. It’s reassuring that the flathead V-12 is where it should be—many of these were re-powered with more modern V-8s.

Classic.com lists the first-generation Lincoln Continentals (with production disrupted by World War II) as averaging $35,019. This one is quite tidy, though the roof at least is going to need a repaint. Jim says the top of the car was scratched by the tarp when it was stored in an open shed. “It had pretty paint all over when we bought it,” he said.

What appears to be the original upholstery is still present and looks good. Some paint is flaking off the dash. The odometer reads 81,611 miles. That could mean a rebuild is in the cards for the old V-12, but its history could include such a redo—the owner is sparse on details.

As we all know, the first-generation Continental was based on a one-off created for Henry Ford’s son, Edsel, in 1939. That one was basically a modified Lincoln Zephyr. The prototype was such a hit that the car went into production in 1940. Production was curtained with the 1942 models when Pearl Harbor happened. The Continental resumed production after the war, virtually unchanged, as a 1946 model.

Changes were minimal over the years. The 1941s got the first of the push-button door releases. For 1946, connection to the Zephyr was history and postwar models, tweaked by Raymond Loewy, were based on standard Lincolns. A new grille and new trim were introduced. This is a 1947, so it’s supposed to have some walnut trim on the interior, but I’m not seeing it in the photos. The last year for this Continental was 1948.

These are beautifully styled cars, reflecting Edsel Ford’s understated design sense. Until the power plants were brought back in modern times, they were the last U.S. cars with V-12 engines. Continentals are recognized as “full classics” by the Classic Car Club of America.

Back in 1948, the coupe sold for $2,727, and the cabriolet for $2,778. Today, convertibles are the most sought-after, as might be expected.

The owner says to give them a call if you want “to come to look at it.” Jim says his father, who passed last year at 91, was a major Lincoln enthusiast, and other examples of the marque, including a classic 1956 Continental with factory air and a rare 1942 convertible, will also be offered up for sale. Thanks, T.J. for the listing.