What's it Worth? 66 I6 Mustang Coupe

I work with a guy that is thinking about letting go of his 66 coupe. This car has been sitting for years in a garage. He is the third owner and has had the car since the 70s. He drove it to high school. The car was Wimbledon White, but now is a easy bake oven maroon purple color. The car ran when parked, but needed carburetor work and the owner never got around to doing anything with it so it has been sitting. The car will need to be completely gone through before being put back on the road. Assuming it doesn't take much to get the car actually running again what do you guys think it is worth right now and what would be a stab at the price once running. I'm in south Alabama, so keep that in mind when thinking about price. I have not seen this car, but it's got my attention as a potential car to pick up knock the dust off, get on the road and sell it on to a happy new owner. Its an automatic. Based on what I know about the car I'd say its a 3 out of 10. No major rust, but a long way from a car show car.

Thanks for the guess. I knew this post was a pretty big swag. The car is something that belongs to someone I work with. The subject just came up. I didn't even know he owned a mustang. When he said he was thinking about selling it it got me wondering what it would be worth. If it ever goes any further I would go see it and take pictures and post.