The U.S. economy experienced a pull-back (recession) in 1958 and that affected most U.S. automobile manufacturers. Cadillac may have felt the bit a little more than others as their cheapest product was $4,600, quite the tidy sum in those days. This Series 62 convertible is one of 7,825 built in 1958 and is a project that will require time, money, and energy to get back on the road in a style that would be a credit to the Cadillac marque. This drop-top is in Escondido, California, and is available here on eBay where it will take more than $17,600 to crack the seller’s reserve.

Series 62 Cadillacs for 1958 were a carryover from the prior year, with what would be an evolution in their styling. The front end and grille were changed to accommodate the quad headlights that were newly approved for highway use. As hard as it is to imagine, the tailfins were actually smaller than in 1957 but still more prominent than some of the competitors. All Series 62 Caddys used a 365 cubic inch V8 engine that produced 310 hp yet was only enough to propel the cars from zero to 60 mph in 12 seconds.

The seller has had this 62 for about 10 years and started some restoration work, but much more is needed. We’re told the body is solid although the combination of faded red paint and grey primer suggests otherwise. The seller stripped much of the paint to take care of the rust that was/is there, and all the chrome doodads have been preserved. Unresolved is a small dent around where one of the taillights would be mounted.

We don’t know the running status of the V8 or the 4-speed Hydra-Matic transmission. A new suspension rebuild kit comes with the deal. The convertible frame is said to be complete and has its necessary motors and hydraulic cylinders. A decision point for the buyer is whether to continue the restoration and go back to Day One or opt for a custom cruiser of the restomod variety,