We see plenty of First Generation Mustangs at Barn Finds, but most of those produced after 1970 tend to be the Fastback derivatives. That makes this 1971 Hardtop a welcome distraction. The seller is the third owner’s son, and this classic has remained in hibernation since 2008. It needs some love, but the foundations appear there for a rewarding and relatively straightforward project build. The Mustang is listed here on eBay in DeLand, Florida. Bidding sits below the reserve at $4.050, but it has reached that level due to some intense action.

Although few people realize it, the 1971 Mustang was one of the cars that led to the downfall of Semon “Bunkie” Knudsen. Henry Ford II lured Knudsen from General Motors to become the new President of the Ford Motor Company in February 1968. His appointment earned the wrath of Lee Iacocca, a man who was a master of internal company politics. Knudsen immersed himself in his role but made a critical error that undermined his position in the eyes of the man whose name was on the company. “Hank the Deuce” was involved in other professional and personal projects when the sign-off was required for the 1971 models. These included an enlarged Mustang, and the President would typically perform such a task. However, Ford operated differently, and Henry had always ticked that box personally. Knudsen had inadvertently overstepped the bounds, and that was all Iacocca needed to launch the offensive that saw Bunkie unceremoniously leave the building in September 1969. This Hardtop is a three-owner classic that rolled off the line in Medium Brown Metallic with a contrasting Dark Brown vinyl top. The paint retains a respectable shine, but there are enough flaws and defects to justify a repaint. The vinyl hasn’t ripped or torn, but its matte appearance suggests that day won’t be far away. The new owner could replace it as part of a cosmetic restoration, although deleting it entirely is another option. Some lower extremities have visible rust spots, but these should respond positively to patches. There is no mention of floor or rail issues, and the years of dry storage may have protected it from the worst of those dramas. The trim looks acceptable for a driver-grade build, and the tinted glass has no significant issues.

This Mustang is not a muscle car, but its mechanical specifications ensure it offers respectable performance. Its engine bay houses a 351-2V V8 that should send 240hp and 350 ft/lbs of torque to the rear wheels via a three-speed automatic transmission. A ¼-mile ET of 16.1 seconds doesn’t sound spectacular by modern standards, but the mid-range torque delivery of the V8 ensures it will cruise effortlessly at freeway speed. That characteristic guarantees that overtaking in that environment will require little beyond an extra squeeze of the “loud” pedal. Fifteen years of hibernation means this classic isn’t currently roadworthy. The seller coaxed the engine back to life, installing a new fuel tank, fuel pump, and ignition components. They include an embedded video of the 351 running in their listing, which sounds perfect. The brakes require attention, and a meticulous inspection would be wise before pointing this Ford at the open road.

The Mustang’s interior is a surprise packet because its condition is easily serviceable for a driver-grade vehicle. The driver’s seat shows some seam separations that might be repairable, but with replacement front covers retailing for around $450 per pair, that might be a better long-term alternative. The back seat and headliner are excellent, the dash and carpet are in good order, and the pad hasn’t succumbed to UV exposure. The interior features what I believe is an aftermarket radio/cassette player, but the factory air conditioning should combine with the tinted glass to make life inside this Mustang comfortable on hot days.

This 1971 Mustang has hit a sweet spot with potential buyers, receiving nineteen bids in five days. People like what they see and are willing to put their money where their mouth is. The Hardtop doesn’t command the same potential value as a Fastback, but these cars are gaining traction in the classic market. Buying one now could be an excellent strategy because if the current trend continues, these could eventually move beyond the reach of mere mortals. Would you consider pursuing it further, or doesn’t this Mustang tick the boxes for you?