An AACA post by Mr. Kobernik announcing his acquisition of the car:

Photos accompanying the AACA posts:

An AACA post from January 2012 identifying the car:

Additional pre-restoration photos of the car:

A note about former owner Reece Dunaway by Dave Cole:

The former owner Reece Dunaway bought the car in 1951, when he lived in Southern California. Here are a the sale listings for 1940 Continental Cabriolets that appeared in SoCal papers in 1951. Maybe Mr. Dunaway responded to one of these.