Ford created the Edsel division in late 1956 to rival Oldsmobile and DeSoto. Following a loss of almost $250 million in development, manufacturing, and marketing costs, FoMoCo withdrew the brand precisely three years later. That amounts to a staggering $2.5 billion in 2023 currency.

What happened? Well, a number of things contributed to the demise of Edsel. To begin with, the Edsels had an odd appearance and had poor fit and finish. It can also be attributed to Ford’s failure to comprehend American customers and the brand’s weak internal backing.

The cars were also a bit too expensive. While Edsel products were supposed to slot between Ford and Mercury vehicles, its cars overlapped with the latter in price. The economic recession in late 1957 and the fact that Edsel had to compete with well-established automakers didn’t help either.

The brief Edsel division produced seven nameplates over three model years and is frequently referred to as the biggest automotive flop in history. The Citation, Corsair, Pacer, and Ranger were the four sedans offered in the lineup. The Bermuda, Roundup, and Villager were the three station wagons that Edsel also offered. In total, 118,287 units were sold by the company between 1958 and 1960.

Since Edsel’s stunning collapse more than 70 years ago, these vehicles have grown in value and are now highly coveted. Even while the majority of them are still rather affordable today, certain Concours-quality examples can bring more than 100,000.

The entry-level Ranger is the most common, with around 54,000 units produced. The Roundup wagon is the rarest, with only 963 examples delivered. The Corsair you see here is part of a two-year production run that included 19,305 cars. Far from rare overall, but this 1959 rig is one of only 1,343 convertibles built that year. And it might just be the finest out there.

1959 brought a significant redesign to the Corsair. Edsel toned down the styling by reducing the size of the quirky, vertical grille and lowering the quad headlamps. The bumpers and the rear fender inserts were less flamboyant, and the lineup expanded to include a convertible in addition to the two- and four-door hardtops.

This particular model is a remarkable restoration that looks perfect from every angle. It is finished in President Red. The big chrome pieces on the front and back as well as the paint both sparkle like new. The interior’s gorgeous black-and-red upholstery makes it just as spectacular.

The same is true of the engine compartment, which conceals a big V8 with a 5 liter (361 cubic inch) displacement. This mill, which was created specifically for the Edsel brand, was available in 1959 as an upgrade to the original 332-cubic-inch (5.4-liter) V8. The larger V8 had 303 horsepower available, compared to the latter’s 225 horsepower rating.

And while it was a downgrade from the 345-horsepower 401-cubic-inch (6.7-liter) V8 offered in 1958, the 361 was still plenty powerful for the era. You can hear it in the video below, which includes a full walkaround and driving footage.