Project candidates don’t come much better than this 1964½ Ford Mustang Convertible. It has spent decades in storage, only emerging as the seller prepares it to find a new home. It features its original 289ci V8 under the hood, teamed with a four-speed manual transmission. It needs plenty of work, but its relative rarity makes it worth the effort. The seller has listed the Mustang here on eBay in Strasburg, Colorado. A solitary bid of $5,000 is below the reserve, but there is a BIN option of $10,500 for enthusiasts viewing the Convertible as a must-have item.
Some new model launches occur while barely raising a ripple, but Ford’s decision to unveil the Mustang at the 1964 World’s Fair caused a sensation. Crowds flocked to see the company’s new pony car, and sales were strong. This first-year Convertible is a project candidate, finished in iconic Rangoon Red with a contrasting White soft-top. The seller indicated it has sat for decades, requiring total restoration to recapture its former glory. The panels are pretty straight, and any exterior rust is relatively minor. However, delving below the surface reveals the typical rust we have grown to know and love in the floors and rails. Common sense suggests that stripping this classic to the last nut and bolt would be a sensible approach to return the body to a structurally sound, rust-free state. The soft-top could be okay with the back window replaced, although enthusiasts seeking a high-end result may opt to replace it. The bright trim might be okay once polished, and this classic retains its original steel wheels and hubcaps.
This Mustang’s interior is a surprise package when you look beyond the accumulated dust. Its Red vinyl upholstered surfaces are free from wear and marks, and the back seat appears to have rarely seen use. The carpet will look very nice once cleaned, while the dash and pad are free from problems. The first owner’s decision to tick the boxes on the Order Form beside the console and pushbutton radio provides a luxurious feel and increases the car’s desirability.
The secret to the Mustang’s initial success was due to clever marketing and an excellent options system. Buyers could order a 1964½ powered by a 170ci six-cylinder engine, combining stunning good looks with affordability. Those seeking more power could opt for the 260ci V8, but the arrival of the 289ci powerplant cemented the badge’s performance credentials. The 260 placed 164hp and 258 ft/lbs of torque at the driver’s disposal. However, the D-Code 289 boosted those figures to 210hp and 300 ft/lbs. Suddenly, the Mutang was less of a pony than a galloping thoroughbred. Don’t be fooled by appearances, because this Convertible retains its numbers-matching D-Code, teamed with a four-speed manual transmission. A previous owner rebuilt the engine, but never coaxed it into life. It turns freely, but the visible corrosion extends into the cylinder head ports. Therefore, another rebuild may be required to guarantee this car’s mechanical health. It looks incomplete, but the image gallery confirms that most of this motor’s ancillary components are included.
Early examples of the Ford Mustang typically attract attention when they hit the market, and this 1964½ Convertible is no exception. Although it emerged during a shortened model year, the company sold 121,538 vehicles by year-end. That figure is quite impressive as a four-month tally, but it also represents the lowest “annual” figure during the First Generation’s entire production run. I don’t think the seller will have much trouble securing a sale for this Mustang, but are you tempted to be the lucky new owner?
289/4sp. is a great combo. Thanks for the good article Clarkey 👍
The cherry on top would have been the option of the “Ralley Pac” on the
column.
the door tag and paint on the rubber looks as it had some paint work done on it at one time
One of my friends had one of these (289 4 speed) dark blue, back in the late 60s. He drove it hard, and it moved!
It’s got potential, better photos of the underside and rust would be helpful. The timing cover looks to be the wrong one for the car, it should have the oil fill tube on the passenger side. This car was built 24 days before the one I used to have was. It too was a D code convertible but white with a blue top and interior.
Deal. Solid Investment. Fun drive. Great colors. Buy now
A straight rear bumper!
Many potential buyers are turned off by the mention of “rust ” . As it requires WAYY too much money and time to overcome .
I thought that these 1964.5 cars came with the 260cu, not a 289? Also had a generator instead of an alternator.
You could get the D code 289 or the F code 260 in the 1964.5. About 35 percent of the ‘64.5s had the D code so it’s not all that rare but is uncommon with the 4-speed. The truly rare ‘64.5 V8 was the K code 289 which wasn’t offered until June ’64.
R&T tested a D code 4-speed convertible in its May 1964 issue. They got 0-60 in 8.9 secs and 17 secs/85 mph in the quarter.
He’d better take that lone bid asap. There might not be another one.
Seller should have no problem as these are quite popular. the rust is a concern tho’ and given todays pricing on refurbishment, a conservative guess, I’d say $30 – 40 K to get things back to fresh.
Having a resto shop I can say the end cost will be excessive. Seller should take the offer and move on. Just sayin’
Is that a ’67 California Special in the background?
Nope. Check the tail lights.
has the right set and a convert too but you still on the hook for at least 20k to get it road worthy plus buying cost. at that point you can 1 that’s all together
Blue air cleaner and fan do not belong to this car. There is no such thing as a 64 1/2 Mustang, sorry to say. A Mustang specialist surely knows this; they were all titled 1965. It does look like a generator laying in the dirt with the rest of the parts. The carburetor looks like it spent time in dust and dirt too, so it shouldn’t take too many hours in the tank to clean that up.
The broken off spark plugs are a nice touch, and I sure hope they load it on the trailer with the same forklift they used to lift it.. What a great selling point. Hope the transmission is good.
Interior looks pretty good, just very dusty and sun-weathered – and no dash hack for a radio, which is great.
By the time this is restored, unfortunately, the new owner will have more in it than it is worth. BiN price is too high against what it will take to get it really nice. Perfect would be a pipe dream.
I bought a 65, pretty nice shape a couple of years ago, V8 auto, power everything and factory air for $14,000. Threw about $35K at it to get it just like I want it. Might be worth $30K now. It’s easy to get upside down on one of these if you’re doing it to resell. But if you just love the cars and want one to drive…Go for it!
If someone knows how to count , search for one that’s already done , drive now and pay monthly , the other way is years of delays , lies, scams and you ll still be paying but not enjoying … sadly , labor is down in quality but not price , drug and alcohol use are up and that’s another piece of the puzzle that makes car restoration close to impossible unless you really need to throw money around
If a guy is paying other people for most of the labor, he’s underwater quickly, unless it’s a vintage FerrariAlfa/Duesenberg or similar.
The guys who did do these projects with their own sweat equity are hanging up the tools these days.
Younger guys now live in subdivisions. Their garages are full of sports gear, kids toys, and a dresser the wife wants refinished.
The property required to do this work has become worn out, including the house. Nobody wants it, and the property taxes have become punishing, especially in the northeast.
The underlying foundation of hobby car restoration is vanishing fast.
vented radiator support by battery is right; generator; hood lip; I owned a guardsman blue dcode july 64.5 1999-2008; sold it to germany buyer 20k; ah rust level and bondo and repaint will grow the cost huge on this and frankly it was good looking; but a few years later 67-69 better and more fun to drive IME (68 in HS, 69 conv in college)