In 2003, Ford revealed a new look and new direction for the venerable Mustang, debuting the Mustang GT and Mustang GT Convertible Concepts at the 2003 New York International Auto Show. This pair of powerhouse concepts more and less looked like the Mustang that Ford delivered beginning in the 2005 model year. The retro styling, combined with improved performance, helped the fifth generation of Mustangs to leave an indelible mark on the automotive world.

If you’re one of the many rabid fans that loves the fifth-gen Mustang’s retro-modern design language, you’re in luck, as the Mustang GT Convertible Concept is up for sale. The $350,000 price tag isn’t for just anyone, and even considering its uniquity, the asking price seems way out of line with the car’s actual value.

Purchased from Ford directly as part of a charity auction, the 2003 Mustang GT Convertible concept isn’t a street legal vehicle in the traditional sense. It has no VIN, no title, and can never be registered or insured. It is a show piece, plain and simple, but what a show piece it is. The interior is trimmed in billet-aluminum, features four-point racing harnesses, and there is a unique cluster of oval gauges that harken back to the Mustang’s earliest days.

Perhaps most interesting about this concept is that it actually rides on an early 2000s Thunderbird chassis. Hence the two-seat setup, though the addition of the “sport bar” does add a bit more performance flare to the concept. Under the hood is the standard 4.6 liter V8 that was found in many Ford vehicles of this era. But again, you can’t legally drive this anywhere but your sprawling estate, which you must own if you have $350,000 to drop on this concept.

The last time the Mustang GT Convertible Concept sold at auction, it brought in just over $192,000 for charity. Today’s $350,000 price tag is almost double that price, which explains why this concept has sat unsold at Exotic Classics since at least 2013. $200,000 seems like a much more palatable price for this unique concept, if you ask us.