No Reserve: 1965 Ford Mustang 289 Convertible

UPDATE 4/3/21 – This Mustang has been relisted here on eBay because of a non-paying bidder. It’s listed with no reserve and is getting a lot of action. How high will it go this time around?

FROM 3/20/21 – This 1965 Mustang is one of those cars that you could restore while you drive it. It’s in good running condition and looks fine from a distance, but Father Time and Mother Nature haver exerted their influences after more than 55 years. Some of the work has already been done and it may not take a lot to finish the job. Located in Minnie, Kentucky, this pony car is available here on eBay for $14,100, with the reserve having already been met.

After a successful mid-year introduction in 1964, Mustang sales shot through the roof during the car’s first full year of production. Nearly 560,000 units rolled out of Ford’s plants for 1965, keeping everyone busy on overtime. Of that number, more than 65,000 were “standard” convertibles and a similar number across all body styles were painted Rangoon Red. A little creative math suggests that maybe 7,000 Rangoon Red convertibles could have been built.

The seller purchased this car off a friend who had fallen on difficult times. He had begun working on the Ford which is said to have been in storage for 25-30 years prior. It’s a rather common ‘Stang in that it has a 289 cubic inch V8 with a 3-speed manual transmission. We’re told it runs well and makes no sounds except the ones that it should. Some of the mechanical handiwork of the friend included a new gas tank and fuel sending unit, fuel pump, alternator, pan gaskets, battery and a rebuilt carburetor. The tires have about half their tread life left, but they look like older rubber so a check of the date codes would be in order.

Inside the car, the interior presents well. Other than rib wear on the driver’s side bucket seat back, it looks good and very red! The friend did some work in there, too, like new carpeting, a dash pad, sun visors, door panels, door scuff plates and a new bezel for the instrument cluster. While the exterior of the car was treated to new bumpers front and rear, there is a small dent in the passenger side door along with a couple of little rust spots. Also, there is a little bend and rust in the driver’s side torque box. Otherwise, the body may be good.

As we mentioned, you could drive this car for a while without worrying much about stuff. And take care of new paint and a convertible top later. The latter isn’t torn or anything, just old, and opens and closes as it should (power operated). In its present condition, the current bidding is on the low end of the resale value of a ’65 Mustang convertible. But once all the work is completed, this number could easily double or even triple, so this looks like a car with profit potential, if that’s part of your selection criteria.

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  1. Robert Thomas

    Dad bought a 1965 Mustang convertible he said for about $2,500 new and was dark green with black interior. It had a 4-speed manual. Mom had trouble with the clutch so was sold to my cousin pretty soon after. Recall my dad taking me up on the NY Thruway and opening it up a little. The sound was very impressive to a six year-old.

    Like 7
  2. gaspumpchas

    Looks like the inner rocker disease. to do it right you have to take this car apart and its a nasty job, unless you have done a few, might still be nasty. Looks good from here but its a rustang. Good luck and stay safe. Got my first covid vac yesterday. Carlisle here I come.

    Like 12
    • James Failing

      Especially the Torque Boxes.

      Like 1
  3. Daniel Gavin

    great car……..what a great start to bring it back to mint.

  4. John piliero

    1964 didn’t come with a 289.

    Like 6
    • tiger66

      There are no ’64s, they are all ’65s. But if you are thinking of the so-called “64 1/2” early 1965 production cars, you could get them from the beginning with the D-code 210hp 289. After June 1, you could also get the 271hp K-code hi-po 289.

      Like 11
    • AKRunner

      You could get a 289 in what are know as the 1964 1/2 Mustangs. My last one was built May 26, 1964 and was a D code, 4spd, convertible.

      Like 2
    • AKRunner

      You could get a 289 in what are know as the 1964 1/2 Mustangs. My last one was built May 26, 1964 and was a D code, 4spd, convertible. Ford was allowed to title them as 1965 models but cars built prior to early August of 1964 are considered to be 1964 1/2’s by most people. There are a number of minor differences between them and the later production cars.

      Like 1
  5. Johnmloghry Johnmloghry Member

    Sounds like the first buyer outbid his pocketbook or his spouse put the foot down ending their dream. I’m not a body man so reparation of torque boxes is way outside my abilities. For someone who is qualified at these repairs this seems like a nice project that could be a nice investment.
    God bless America

    Like 1
  6. Larry D

    When I began looking for an early Mustang, I went to our local Mustang expert. Their family has lots of them, including Shelbys, many still wearing original paint.

    We discussed body styles in them and how that affects prices. That has been over 20 years ago but I still remember well that he said if a Mustang is a convertible, it has probably been rusty at one time.

    Heed the advice of the experts.

    Like 3
  7. Gary Rhodes

    From experience, I’ll bet $100.00 once you tear this car down you will be replacing every body panel on it

    Like 2
  8. Rick

    Better to have a fully functional car with no reserve than a car with a transmission that has no reverse.

    Like 1
  9. Kenn

    I’d rather have a bottle in front of me than a frontal lobotomy.

    Like 2
  10. Barney

    My first Mustang was a Rangoon Red convertible much like this one. I bought it for 650.00 from the back lot of a Chevy dealer in 1970. It was a stolen recovery. Ran very well. I always though that the Rangoon Red color didn’t go well with the red interior. Rangoon red is actually more orange than red. Got t-boned, (my fault) and the car was totaled but that started my owning many more Mustangs.

  11. Johnmloghry Johnmloghry Member

    I saw one just like this one on a truck today in Houston heading toward Sugarland Texas, I wonder if it could be the same one, so when I got home I looked to see if this one was sold; it’s not.
    Ford built so many of these there’s still plenty around. A fun car to play with.
    God bless America

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