At the very least, it's going to need a front clip. Being a convertible, it probably suffered damage to the floor reinforcements also. I would also hazard a guess that the engine/tranny will need rebuilt due to the appearance, as Tim said, that it's been sitting out,exposed. I'm not a body guy, but I'd guess around $20K to fix it, without knowing for sure what all is damaged. I saw an ad for Fatman Fabrications (
www.fatmanfab.com ) in the Dec. Mustangs and Fords mag for a tubular front end for '65-'70 Mustangs so you can install a modular motor, coil overs and rack and pinion. This car looks like a perfect candidate for that conversion. Put in a supercharged 5.4 and a 6 speed and you've blown the heck out of my $20K estimate, but would have a super cool car.
Steve
PS, there is no way it's worth $6500, in my opinion.