This car rolled off the assembly line in April 1965, roughly one year after the model's introduction. It was sold in NJ to someone who kept it for almost three decades. But the new owner kept the car only for a year until 1994, when she sold it to the current seller, who goes by the name f2roktman74. He noticed that the car was in great condition and attended the 1996 Fall Concours in Arlington, Virginia, where the Mustang won the second prize. Then, he decided that a restoration was needed.
Thus, the car went through a body-on restoration process, so it didn't have to be dismantled. Many parts were replaced either with period-correct or 1966 model-year ones. The heater plenum, front and rear carpets, sill plates, and the trunk's mat were also replaced. Last but not least, a leaking radiator was changed. But the original 289 V8 C-Code engine never went through an overhaul. It did receive a new carburetor in 1999, but it was a correct one. There are no mentions of any works on the three-speed manual gearbox. However, the seller says the car has 123,000 miles (approximately 198,000 km), so it shouldn't have any problems.
With the new updates and refreshed items, the car received first place for a 1964 ½ to 1966 Mustang in 1999 in San Antonio, Texas. So, finally, it proved to be a winner. Fast forward a few more decades and it is now for sale for $29,500. It might not sound like a bargain, but considering that the MSRP for a 2022 Mustang convertible starts at $32,970, you might think again. True, this old burgundy drop-top cannot compete in terms of comfort and performance with its youngest sibling. But what it loses on the drag strip, it can gain in a beauty contest instead. It proved that in 1999 when it won an award for most votes given to a single car.
The car is in Tucson, Arizona, if you want to see it in person. And since it's there, you might check the roof that doesn't look to be in great shape.