Six Months Gone: 1964 1/2 Mustang Convertible – STILL $34,900

August 3, 2023, Update – We confirmed the listing for this “ClassiFIND” expired, so with no replacement found, we’re assuming this ride is “Sold?” While this one got away, please reach out either by email or call us directly if you’d like to be informed when we come across something similar.

July 2, 2023 Update – You’d think the seller might get the hint after six months split between asking $44,900 and $34,500.  Unfortunately, it appears the market is speaking as no one wants to pay that much for a six-cylinder, three-speed manual, four-wheel-lug Mustang convertible.  We predict this will continue until the seller lowers their price further.

June 3, 2023 Update – After months without a sale at $34,500 of this very early production 1964 1/2 Mustang, the seller decided that increasing the price to $34,900 might be a good decision. That revised price is ten thousand dollars less than the $44,900 the seller started at.

May 31, 2023 Update – The seller of this entry-level ’64 1/2 Mustang convertible we’ve been following since last December replaced their one-week-old Craigslist ad with a fresh listing.  The pictures, description, and $34,500 asking price remain the same.

May 22, 2023 Update – Five months have gone, and after starting with a $44,900 asking price back in December, the seller is now going on their third month of trying to get $34,500 for their entry-level, inline-six/three-speed manual Mustang. While the colors are right for this convertible, the powertrain is the likely answer on why this seller is struggling to find a buyer at this price.

May 1, 2023 Update – The seller replaced their one-week-old Craigslist ad with a fresh listing. All of the details remain the same.

April 26, 2023 Update – The seller replaced their sixth listing with a brand new Craigslist ad after only two weeks. In their latest listing, the seller used the same brief description, pictures, and already lowered the $34,500 asking price.

April 11, 2023 Update – The seller replaced their fifth expired listing with a brand new Craigslist ad. In their latest listing, the seller used the same brief description, pictures, and already lowered $34,500 asking price.

March 9, 2023 Update – The seller replaced their fourth ad just two weeks after posting a fresh fourth Craigslist listing.  The price, pictures, and already reduced $34,500 asking price all remain the same.

February 23, 2023 Update – The seller replaced their third expired listing with a new Craigslist ad.  In their latest effort, the seller decreased their asking price by another five thousand dollars to land at $34,500.  That’s a reduction of $10,400 from the original ask of $44,900.

January 26, 2023 Update – The seller replaced their second expired listing with a fresh Craigslist ad.  The pictures, brief description, and already lowered asking price of $39,500 all remain the same.

December 27, 2022 Update – The seller replaced their original expiring ad with a second listing.  The pictures, brief description, and already lowered asking price of $39,500 all remain the same.

December 6, 2022 Update – The seller decided to lower the asking price listed in their current Craigslist ad from the original ask of $44,900 to $39,500.

When Ford launched the Mustang in April 1964, the company marketed it with a low base price as the ideal second car for suburban families.  Unlike most other entry-level cars up to that point, the original Mustang looked sporty even with no options added.  A case in point is this Rangoon Red over parchment vinyl 1964 1/2 Mustang convertible for sale, initially spotted in December 2022 on Craigslist in Los Angeles, California. The excellent color combination and drop top belie the fact this Mustang features the one barrel topped, 170 cubic inch, Thriftpower inline six controlled by a floor-shifted three-speed manual transmission. With only 64,000 original miles and located in southern California, we can’t tell from the seller’s brief description whether their Mustang is a well-preserved survivor or benefited from restoration at some point.

Last offered for $34,900 (the original ask was $44,500), Classic.com, the analytics and search engine for the collector car market, confirms the ask is slightly above the one-year rolling average of this guide’s summary for first-generation Ford Mustang convertibles produced between 1964 1/2 and 1966.  By clicking on the green dots in the graph below, you can navigate to each comparable car sold as a way to help you evaluate the price of the Mustang featured here:

As a second data point, the  Collector Car Market Review Online Tool reveals the seller’s ask falls above this guide’s #1 “Excellent” estimate of $36,880 after factoring in a twenty percent deduction for the standard inline-six and three-speed manual transmission.

Since it was introduced four months before the normal start of the 1965 production year and manufactured alongside 1964 Ford Falcons and 1964 Mercury Comets, the earliest Mustangs are widely referred to as the 1964½ model by enthusiasts.  Nevertheless, all “1964½” cars were given 1965 U.S. standard VINs at the time of production, and – with limited exception to the earliest of promotional materials – were marketed by Ford as 1965 models. The low-end model hardtop used a “U-code” 170 cubic inch inline-six engine borrowed from the Falcon, as well as a three-speed manual transmission. With a base price of 2,368, standard equipment included black front seat belts, a glove box light, and a padded dashboard. Production began in March 1964 and Mustang Serial Number One (5F08F100001) was sold on April 14, 1964, at the George Parsons Ford dealership in St. John’s, Newfoundland, Canada. Official introduction followed on April 17 at the 1964 World’s Fair. The V8 models were identified with a badge on the front fender that spelled out the engine’s cubic inch displacement (“260” or “289”) over a wide “V.” This emblem was identical to the one on the 1964 Fairlane.

Several changes to the Mustang occurred at the start of the “normal” 1965 model year in August 1964, about four months after its introduction. These cars are known as “late 65’s”. The engine lineup was changed, with a 200 cubic inch “T-code” engine that produced 120 horsepower. Production of the Fairlane’s “F-code” 260 cu in (4.3 L) engine ceased when the 1964 model year ended. It was replaced with a new 200 horsepower “C-code” 289 cubic inch V8 engine topped with a two-barrel carburetor as the base V8. The DC electrical generator was replaced by a new AC alternator on all Fords (a way to distinguish 1964 from 1965 is to see if the alternator light on the dash says “GEN” or “ALT”).

The King Rose Archives YouTube Channel features this very first Ford Mustang commercial featuring scenes from the 1964 New York World’s Fair where Ford launched the car to the public:

Nearly forty large is big money for an early build, entry-level Mustang.  Granted, it’s a convertible in the right color combination. We would inspect the car thoroughly for originality before agreeing to that ask as there are always great alternatives for sale in the Mustang world.

If you are serious about buying this Ford Mustang, you can start the conversation by calling the seller using the phone number provided in their Craigslist ad.  When you connect, please remember to mention you saw their restored pickup featured here on GuysWithRides.com. Good luck with the purchase!

Here’s the seller’s description:

Show or go: What would you do with this 1964 1/2 Ford Mustang convertible for sale?  Please comment below and let us know!