1966 Ford Mustang Convertible 289
Early bid on a running 289 convertible with a clear title; bidding has three weeks to go
1966 Ford Mustang Convertible
Why we picked it
This is a 1966 Mustang convertible with a 289 V8 and an automatic, in an online estate sale run by United Country Petersen in Cheyenne, Wyoming. The listing is short: about 55,000 miles, runs and drives, everything works, new carpet, clear title. The auction ends November 19, and the high bid is $4,100 after 23 bids.
Why we picked it: driver-grade 289 automatic convertibles have sold for about $18,000 to $37,000 this year. Even with the 10% premium, today's number is a small fraction of that. It will not stay this low, but a soft-close local estate sale can end under the market, and a preview day is offered on November 14.
The value check
The current bid is $4,510. Comparable cars in the same condition have sold for $18,250–$37,450, so the middle of the market is about $27,850. That put this car 84% under. Bids usually climb in the final hours, so the discount will likely shrink.
Four 1965-66 Mustang convertibles with the 289 and C4 automatic in driver condition went for $18,250 to $37,450 on Hagerty Marketplace in 2026. The current bid of $4,100 plus the 10% buyer's premium ($4,510) is far below that, but there are three weeks left and bids usually climb a lot.
- Hagerty: 1966 Mustang conv 289, $24,343 (Jul 2026)
- Hagerty: 1966 Mustang conv 289, $29,693 (May 2026)
- Hagerty: 1966 Mustang conv 289, $37,450 (Apr 2026)
- Hagerty: 1965 Mustang conv 289, $18,250 high bid (Jun 2026)
What to check
- Bids usually climb a lot before the close; set your limit from the comps, not today's bid.
- 10% buyer's premium (plus 3.5% for cards); sold as is, where is; local pickup only on November 20-21.
- No VIN or rust information in the listing. Use the November 14 preview to check the floors, torque boxes, cowl and rear frame rails, which rust on early Mustang convertibles.
- The listing says Powerglide, but a 1966 Mustang came with a C4. Confirm what transmission is fitted and check the door tag and VIN for the original 289 code.
- Check the convertible top frame and power-top pump, and confirm the clear title in hand.
Making it drive like new
A good restomod base: front disc brakes, a Shelby-style drop or coilover front end, a rack-and-pinion conversion and subframe connectors to stiffen the open body. A T5 or AOD swap and a mild 302 build keep it period-correct while making it an easy highway car.
6 builders make a complete chassis for the 1964½–70 Mustang. Compare them side by side, along with what it takes to stiffen the factory frame.
What 1964½–70 Mustang cars sell for
| Condition | Sales | Low | Typical | High |
|---|---|---|---|---|
| Project | 3 | $21,500 | $23,000 | $28,000 |
| Driver | 78 | $10,250 | $32,750 | $151,940 |
| Collector | 33 | $41,000 | $77,000 | $126,500 |
| Pro-build | 7 | $56,710 | $76,067 | $160,000 |
Recent sales
| Car | Condition | Result | Date | Where |
|---|---|---|---|---|
| 1966 Ford Mustang coupe with a 302, Toploader four-speed and 9-inch rear | Driver | $20,063 | Oct 23, 2026 | Hagerty Marketplace |
| 1965 Ford Mustang Fastback 289, no reserve and bidding at $4,100 | Driver | $48,953 | Oct 23, 2026 | Hagerty Marketplace |
| 1968 Ford Mustang Fastback, genuine R-code 428 Cobra Jet car with Deluxe Marti Report, built as an Eleanor tribute | Pro-build | $160,000 | Oct 19, 2026 | Hagerty Marketplace |
| 1970 Ford Mustang Mach 1 | Driver | $36,000 | Oct 17, 2026 | Bring a Trailer |
| 1967 Ford Mustang GT/A Fastback 390 (40 years family-owned) | Driver | $33,500 | Oct 15, 2026 | Hagerty Marketplace |
| 1965 Ford Mustang fastback, A-code 289, bid at $8,500 with a week left | Driver | $36,750 | Oct 14, 2026 | Hagerty Marketplace |
| 1970 Ford Mustang Boss 302 4-speed, 24 years with one owner | Driver | $74,820 | Oct 14, 2026 | Hagerty Marketplace |
| 1967 Mustang GT Fastback, original, automatic | Collector | $81,500 | Oct 13, 2026 | Hagerty Marketplace |
