My '48 that I just sold was black and looked like the one that '47 Merc. posted except the interior was maroon and gray and had every option available. Including Columbia rear it also had dual everything, spots, mirrors, exhaust, heaters, fogs, etc. It was completely stock except for California Mirrors. It was listed as a #2 and "old car values " at $43,600. I had mine at $38,900 for over a year and had, as usual, ridiculous offers from sight unseen bottom feeders. I finally let mine go for considerably less than the asking price. When the buyer received it, he called to say how beautiful it was and how surprised he was. They are beautiful cars, never failing to receive animated thumbs up when out cruising. They are quick, nice riding, very pretty, fun to work on and very dependable. However they are also unappreciated by the younger hobbyists who are into "muscle" cars. I found the market price is very hard to come by unless the car is modified and/or "ruined' with Chevy engines or other such ruinations. ( only my opinion!) Those listed on Hot Rod on line seem to bring big bucks when they are no longer a true stock Ford or Mercury. However I think those of us who have owned one or presently own one would be sorry to let it go. I know that I was and still am. BTW, I have a pair of new Offy heads for it that I could not bring myself to put on. I will be selling these along with some hub caps and other spare parts when I get around to it.
If you're into Ford products in general, I would say, "go for it." The Mercury had always been Henry's precursor to the following year's Lincoln.
Good Luck!
Rich O.