Gail Wise was only 22 years-old when she unknowingly bought the first Ford Mustang in 1964. She has kept it for the 54 years since then, and she was stunned to learn recently that it is now worth up to $450,000!

It was April 15, 1964 when Gail, who was a teacher at the time, bought the “top secret” skylight blue convertible from a dealer on the northwest side of Chicago, two days before the official release. Ford had secretly distributed the mustang to dealerships before the official release, and the dealer accidentally let Gail buy it.

“I drove out of that showroom with everyone waving at me and asking me to slow down,” Gail recalled.

Gail has kept the car in her garage for decades. As Ford celebrates the production of the 10 millionth Mustang this month, Gail managed to find the original receipt and owner’s manual for her mustang, proving that it was the first one.

Over the years, Gail had tried to get rid of the car numerous times, but her husband Tom made sure she kept it as a “retirement project” along with all the documents pertaining to it.

“We didn’t know it was anything special. But we kept the new car invoice, the registered owners manual. Tom’s a saver,” she said.

Jonathan Klinger, spokesman for Hagerty in Traverse City, said that the fully restored (but not altered or modified) classic pony car that cost $3,447.50 is worth $350,000 to $450,000.

“Enthusiasts are drawn to the bookends of models. It is stunning that the first-ever sold Mustang is still owned by its original owner,” he said.

Ford invited Tom and Gail to come to Detroit this month to celebrate the Mustang milestone and to publicly display her car during the Woodward Dream Cruise at Ford’s Royal Oak site.

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