One of the attractions of the First Generation Mustang is that lifting what some would consider lesser examples to greater heights is not difficult. Owners can buy parts off the shelf to unleash significant performance improvements, which has been the case with this 1966 Mustang 2+2 Fastback. It isn’t perfect, but it appears to be a rock-solid vehicle that could form the foundations of a satisfying project. It seems the seller has run out of steam, listing the Fastback here on eBay in Roach, Missouri. They set their No Reserve auction to open at $27,000, but there have been no bids.

There’s a lot to unpack with this Mustang, but it is probably best to confirm that it appears structurally sound. There are a couple of small bubbles in the doors, but the underside shots don’t reveal any nasty surprises. Vulnerable areas like the rockers and lower rear quarter panels are clean, meaning it shouldn’t take much work to whip this classic into shape. The White paint coating its panels isn’t original, with the Tag indicating it rolled off the line wearing Code 8 Springtime Yellow. The new shade will probably appeal to more potential buyers, and a few might even see some stripes and a Shelby tribute waiting to be born. The trim and glass are free from significant problems, and the aftermarket wheels are wrapped in new tires.

This Mustang’s interior could be a highlight because it appears to need nothing but a basic cleaning. I never understand why a seller would not at least run a vacuum cleaner over the carpet before taking shots for their listing because that small task would help the interior make a more favorable impression. Now that I’ve had my moan, it is worth noting that the Black vinyl trim and upholstery look excellent. There is no wear or physical damage, with the same true of the carpet, dash, and pad. The console adds an air of class, and aftermarket additions include a column-mounted tach and a retro-style stereo. The buyer seems assured that it will take more time than money to have the interior shining like a new penny.

Under the skin, an owner can make a difference to a First Generation Mustang courtesy of off-the-shelf components. This car started life with the T-Code 200ci six occupying its engine bay, bringing a modest 120hp to the table. That motor is a distant memory because this gem now features a 289ci V8. Its specifications are unclear, but the new owner also receives a three-speed automatic transmission and power assistance for the steering and brakes. That V8 should produce at least 200hp, although I wouldn’t rule out a higher figure. The difference it would make to the car’s performance would be profound and should be a wise investment. The seller says the Fastback runs and drives, but some mechanical issues require investigation and rectification. The brakes wobble a bit, which could be due to a warped disc or drum. The power steering pump leaks, and it whines when cold. It sounds like a rebuild might be on the agenda. However, potentially the biggest issue is that the motor smokes when cold. It clears once it has some temperature, but the winning bidder may need to delve inside this V8. Recent additions include new tires, a new aluminum radiator, and an MSD ignition.

This 1966 Mustang 2+2 Fastback is a solid and tidy classic, and at first glance, it might seem strange that it has received no bids. However, enough mechanical question marks hang over it that some will give it a wide berth. Purchasing any classic involves an element of risk, and the reassuring thing with this one is that the seller has been candid about its shortcomings. Do you think that approach will persuade somebody to roll the dice and submit a bid, or will the seller need to lower their sights?