1940 was the first year for the Continental. There were 351 Lincoln Continental Cabriolets produced in 1940 and this vehicle is the 305th example constructed. It was completed on May 6th of 1940 and sent to St. Louis, Missouri on May 19th of 1940. In 1995, the current owner began a restoration that would last 12 years. It has a new Haartz canvas top and tonneau cover and a complete mechanical rebuilt. It is painted in the 1940 Zephyr color of Capri Blue Metallic.
There is a 292 cubic-inch L-head engine that offers 120 horsepower. Upgrades include a cast-iron cylinder head to help prevent overheating, overdrive added to the three-speed transmission. It was added to all three gears, essentially giving the car six forward speeds. There is a modern 6-volt Optima battery built into the original Zephyr battery case.
It is believed that 60 cabriolets exist in modern times and half of those are in restored condition. This car is a full CCCA Classic.
In 2007 it was brought to the Gooding & Company auction held in Pebble Beach, California and estimated to sell for $100,000 - $125,000 and offered without reserve. Those estimates proved accurate, as the lot was sold for $110,000 including buyer's premium.