One-off Mustang 'lost' for 49 years

Published Dec 30, 2014

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Fort Lauderdale, Florida - It may look like the love-child of a first-generation Ford Mustang and a Datsun 240Z, but the car in these pictures is in fact all Ford, even though practically nothing on it is standard.

This Mustang III Shorty prototype - the only one ever made - was a proposal for a genuine two-seater sports coupé rather than the 'family-friendly' four-seat layout Ford's conservative engineering bosses had insisted on for the upcoming new Mustang.

It was built with the approval of Ford's marketing department by Dearborn Steel Tubing Industries, which was responsible for a number of limited production specials and one-off Ford show cars during the 'Total Performance' era.

Designed by maverick freelance engineer Vince Gardner, who'd honed his craft under legendary designer Gordon Buehrig at Auburn and with Raymond Loewy at Studebaker, it was based on the 10th pre-production 1965 Mustang chassis, shortened by a radical 406mm with the assistance of Ford's Allen Park, Michigan pilot plant.

The whole body is fibreglass, with a unique, tightly tucked-in fastback tail and specially-styled door panels.

As was customary in those days, the 'concept' Mustang is a runner, with a 260 cubic inch (4.3-litre) V8 bored out to a full five litres, fed by three carburettors on a special intake manifold, and driving a hypoid rear axle through a specially beefed-up three-speed auto tranny.

Given its light weight and cobby wheelbase - with standard-issue independent front suspension, disc front and drum rear brakes, it's probably considerably quicker than a standard '65 Mustang, and terrifyingly tail-happy in the wet.

The one-of-a-kind Mustang III became part of Ford's travelling show tour, the Custom Car Caravan, at dealerships across the United States, and was featured in a special 'Sports Cars in Review' display at the Henry Ford Museum early in 1965.

BUT NOW THE STORY GETS A BIT MURKY

Ford had no plans to produce a two-seater Mustang, so when the museum exhibit was dismantled Gardner was dismayed to discover that the 'Shorty' prototype - which he'd not only designed but also helped to build - was slated to be crushed.

So, on 2 May 1965, he simply stole it.

He had no idea what he was going to do with it, so he leased a nearby warehouse, paid a month's rent, parked the car in it and built a brick wall in front of it to conceal it.

Ford, meanwhile, reported the car stolen, and its insurer actually paid out for it.

But Gardner hadn't paid any more rent after the first month so, six months later, the landlord reclaimed the warehouse, tore down the new wall and, when he discovered what turned out to be a stolen car behind it, called the cops.

Ford certainly didn't want the car back - it was going to be crushed anyway - so it wound up with the insurance company, where it was bought by one of their employees.

Early in 1969, he sold it to a car enthusiast in Ohio, who knew exactly what it was and has had it ever since, although he never displayed it and very few people knew it still existed.

Recently, however, he was persuaded to restore it to original show condition and enter it in the 2013 Amelia Island Concours d'Elegance, where, not surprisingly, it caused a sensation.

IT’S THE REAL DEAL

According to Mustang historian Bob Frua there is absolutely no doubt this is the original, one and only prototype Shorty Mustang III. The owner has a thick file of original documentation from Dearborn Steel Tubing and the insurance company, registration papers, newspaper and magazine clippings from the time, and photographs taken over the intervening decades.

Frua reckons this is the most important Mustang ever offered for public sale, and American Auctions estimates it will fetch $400 000 - $600 000 (R4.6 - R7 million) when it goes under the hammer on 28 March 2015 in Fort Lauderdale.

Vince Gardner, we think, would feel himself vindicated.

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