Project cars come in all shapes and sizes, with some requiring more work than others. This 1966 Mustang Convertible is a clean, solid car that runs and drives well. It has no immediate needs, meaning its new owner could indulge in the classic motoring experience while planning their strategy moving forward. It is listed here on eBay in Sarasota, Florida. Frantic bidding has pushed the price to $15,200 in a No Reserve auction.

If you were a Ford Executive in 1966, you probably walked around wearing a smile like the Cheshire Cat from Alice in Wonderland. The experiment that was the Mustang was paying off big time, with that year marking the most successful for the First Generation version. This Convertible is from that year and is a tidy classic finished in attractive Silver Frost. The seller is candid about its condition because although it retains a nice shine, there are paint flaws and defects. None are severe, and a reputable paint shop should be able to repair them without the buyer paying for a total repaint. There are small spots of surface corrosion in the lower door corners, but the same shop could consign them to a memory. The Mustang has a typical rust history in the floors, trunk, and torque box region. However, a previous owner repaired the areas, and the quality of the work looks pretty good. Otherwise, this classic seems to be rust-free. The Black power top fits tightly, but a hole in the back window requires attention. The trim is in good order, and the factory styled chrome steel wheels look excellent.

This Mustang’s engine bay houses a C-code 289ci V8, although it is unclear whether it is numbers-matching. It sends 200hp to the rear wheels via a three-speed automatic transmission. This is the least potent V8 configuration offered by Ford in 1966, but at least the buyer receives that wonderful V8 growl. Extracting additional ponies from these sweet little engines is not difficult, although the new owner may decide to throw caution to the wind and slot in something more powerful. There are plenty of choices, and the parts required for most common upgrades are available off the shelf. That could be in the future because with this car running and driving well, there’s no reason to rush the decision.

The Convertible’s interior is tidy, and apart from an aftermarket radio/cassette player, it appears to be unmolested. The Black vinyl trim is in good order, but the carpet exhibits the fading typical of these vehicles. The dash and pad are in excellent order, with the gauges looking crisp and clear. If the buyer wishes to retain the Convertible as a tidy driver, its interior is up to the challenge. However, spending $220 on a new carpet set would lift the presentation to a higher level.

With tidy presentation and no significant rust, the new owner could keep this 1966 Mustang Convertible untouched. It would still draw attention and respect and should provide years of reliable classic motoring pleasure. Alternatively, the buyer could perform a faithful restoration or upgrade its drivetrain to extract more performance. I would generally opt for one of the first two options, but I believe the third is viable for a simple reason. The 1966 model year was a banner one for the Mustang. An incredible 607,568 cars rolled off the line, marking the First Generation’s high point. Of those, 72,119 were the Convertible variant. Therefore, this is not a rare car. I would support an owner’s decision to create a carefully considered and planned custom build. For regular readers who are aware of my stance on classic car preservation, I’ll bet that comes as a surprise!