Sometimes, a company can produce an item in such vast quantities that its relative worth as a future collectible becomes questionable. However, Ford built 607,568 examples of its First Generation Mustang in 1966, and they remain as desirable as the day they rolled off the line. This ’66 Convertible requires total restoration but has many positives for potential buyers to consider. The most significant is the lack of substantial rust, with much of it cut away and replaced with fresh steel. There are a couple of small spots for the new owner to tackle, but the overall impression is that this could be a fantastic first build for the right person. The Mustang is listed here on eBay in Jonesboro, Louisiana. Bidding sits at $2,600, which is below the reserve.

The history of this Mustang is unclear, but before we delve into what it needs, it is worth reflecting upon the work that has already been completed. Rust is the mortal enemy of First Generation Mustangs, and this car didn’t escape the attention of the dreaded tin worm. However, with the floors, inner rockers, torque boxes, and seat risers replaced, the only remaining issue for the buyer to tackle is a small section of soft steel at the end of the driver’s side rear rail. The underside shots do reveal areas of heavy surface corrosion. Dismantling the vehicle for a rotisserie restoration would be the best way to maximize the chances of rust not making a return visit. It would also be the ideal opportunity to strip away the original Silver Frost paint as part of a high-end build. Most trim pieces will either restore nicely or respond to polish, and the glass looks okay. The soft-top is a distant memory, although the frame is present and in good order.

Did I hear someone utter the words “trim kit?” That is what this Mustang’s interior needs, as the essential hardware is intact and ready for reuse. It is refreshing to find the dash uncut and the factory AM radio intact. I can’t spot any aftermarket additions or modifications, making the inside of this classic ripe for a faithful restoration in its all-black vinyl. Those wishing to personalize their car may select Pony Trim or add items like a factory console or air conditioning. They can treat this Mustang as a blank canvas because, as we will soon see, they won’t be molesting a numbers-matching classic.

The VIN confirms the first owner ordered this Mustang with the T-Code 200ci six under the hood. It delivered 120hp and 190 ft/lbs of torque, making the Convertible a competent performer. However, that is ancient history because the six has gone, and a 289ci V8 occupies its vacant spot. It appears to be a C-Code unit, placing 200hp and 282 ft/lbs of torque at the driver’s disposal. Shifting duties fall to a three-speed automatic, and there is no evidence this car ever featured power assistance for the steering and brakes. This is where life becomes interesting because the V8 turns freely. That makes revival or rebuilding a viable alternative, although ditching this powerplant as part of a restomod build is an option some may consider. This is a chance for the winning bidder to let their imagination off the leash, and we have seen some amazing creations result from this process.

Okay, it’s hypothetical time. What would be your approach if you found this 1966 Mustang Convertible in your workshop? Would you restore it to its original form or make significant changes? I would probably apply a different paint shade and admit that Ivy Green would be tempting. What about the drivetrain? Would you consider upgrading the existing engine to K-Code specifications, or would a more modern alternative be irresistible? Finally, there’s the question of interior trim. Original, Pony, or custom? Now that I have your creative juices flowing, I have one final question: Are these thoughts enough to prompt you to submit a bid? We’d love to know the results if you do.