The 1966 model year represented the point where the 1st Generation Mustang was at the peak of its power. Ford managed to sell 607,568 examples, of which 72,119 were the Convertible variant. This is one of those cars, although it has fallen upon hard times. However, all might not be lost for this classic, and the right person should be able to return it to its former glory. If you think you could be that person, you will find the Mustang located in North Port, Florida, and listed for sale here on eBay. It seems that there are a few people who like what they see with this vehicle because it has already attracted twenty-three bids. This action has pushed the price beyond the reserve to $5,600.

When it rolled off the production line, this Mustang would have turned more than a few heads. The combination of Nightmist Blue paint and a White soft-top would have been striking. That was a long time ago, and time has taken a toll on this classic. The paint looks pretty sad, while the top is well past its prime. The owner admits that there is rust for the buyer to tackle, but he doesn’t indicate whether this has impacted areas like the floors, frame rails, or the torque box region. There is some external rust visible, but what can be seen is surprisingly minor. The lower rear quarter panels have some issues, but the lower corners of the doors and the lower fenders look remarkably clean. The state of the rockers is unknown because the moldings could be hiding a sin of two. As you will see, there is corrosion in other areas of the Mustang that could be a sign of bad news. The safest thing for potential buyers to do would be to arrange an in-person inspection. That way, they can gauge whether this is a project that they consider to be viable. Some of the external trim will need to be restored or replaced, but the tinted glass looks pretty good.

Turning our attention to the interior, and the first thing that caught my eye was the aftermarket additions. The last time I saw this many gauges in one place, the vehicle in question had wings and could cruise at 30,000 feet. Not counting the speedometer and fuel gauge, I can spot at least ten additional gauges gracing various spots around the dash. Admittedly, two of these are genuine Rally-Pac items, but the rest of them look like someone went berserk at a NAPA clearance sale!  Beyond that, the interior is largely complete. In addition to the Rally-Pac gauges, the factory console is an excellent find. Before I spent any money in there, I would be thoroughly cleaning everything. Common sense says that the easiest and most cost-effective way of restoring the interior would be with a trim kit, but I would want to examine everything before I parted with the cash. The dash pad, for example, looks quite good. The same is true of the door trims and back seat, so it might be cheaper to buy the pieces individually rather than going the whole hog. It would be worth investigating if it has the potential to save money on this restoration.

The Mustang features a C-Code 289ci V8 and a 3-speed automatic transmission. In good health, that V8 should be capable of delivering 200hp under the right foot. Pointed at a ¼ mile, the journey would take a relatively sedate 16.9 seconds. The owner doesn’t indicate whether this is a numbers-matching classic, but I think it would be safe to assume that it doesn’t currently run. The level of accumulated surface corrosion is a concern, and it does make me wonder whether that V8 even turns freely. I suspect that the buyer will pull the engine as part of the restoration, but it does leave a few options on the table if they do. If spotless originality is the goal, rebuilding this engine could be an option. However, this could also present the opportunity to add a few items like a more aggressive camshaft, along with a better intake and a 4-barrel carburetor. That would wake up this motor and would offer significant performance improvements. The last option might be to slot something entirely new into the engine bay. It could be something with a larger capacity, or the buyer might choose to follow the restomod path. The world would be their oyster with this Mustang.

There’s no doubt that there is some potential in this 1966 Mustang Convertible as a project car, but my instinct tells me that an in-person inspection could be a wise move. The panels show little in the way of significant rust, but the level of corrosion under the hood makes me wonder what might be hiding below the surface. I find it interesting that this hasn’t deterred potential buyers, and the bidding history supports that. Would you be willing to investigate this one further with a view to submitting a bid?