428/4-Speed: 1969 Shelby Mustang GT 500 Convertible

This photo offers us a tantalizing glimpse at one of the most iconic cars to grace American roads during the 1960s. There’s no mistaking the fact that we’re looking at a Shelby Mustang, and in this case, it is a GT500 Convertible. The owner has worked through a painstaking restoration process but openly admits that he never uses the vehicle. Therefore, he feels that it is only fitting that it should go to a new owner who will drive and appreciate this iconic classic. It is located in Galion, Ohio, and has been listed for sale here on eBay. The bidding has climbed to $80,300, but I believe that there may be a fair way to go before it hits the reserve.

The owner is pretty fussy about his GT500, which is why the photos he supplies aren’t great. To achieve a better result, he would have to drive this classic out of the shed. Doing so would’ve exposed it to the rain that was falling at the time, which didn’t sit well with him. Its history is worth recounting because it didn’t always present this well. When he found the car, it had been sitting unloved in a local shed for thirty-three years. He convinced that owner to part with the Convertible and then proceeded down the path of a total restoration. It isn’t clear whether there was any body damage or rust that required attention, but the car eventually received a coat of its original Candy Apple Red paint with distinctive Gold stripes. What we can see of it suggests that it holds an impressive shine and that the stripes are crisp and clean. The Shelby is equipped with a Black power top, and this looks as impressive as the rest of the exterior. The owner says that if we crawled under the car, we would find an undercarriage that is spotlessly clean and free from any evidence of rust. So far, this looks pretty promising.

Lifting this Shelby’s hood reveals the Ram Air-equipped 428 Cobra Jet V8 that pumps out 335hp. This GT500 also features a four-speed manual transmission, power steering, and power front disc brakes. If the driver lined up this classic on a ¼ mile, the journey would be over in 14.9 seconds. There were faster ways to travel in 1969, but at least one of those involved being shot into space strapped to the nose of a Saturn V rocket. However, this option had its drawbacks. Get the launch wrong in the Shelby, and you can turn around and have another go. Get it wrong in a Saturn V, and as Mary McCormack’s character says in the movie “Deep Impact,” you get a high school named after you. Anyhow, I digress. The presentation of the Shelby’s engine bay is spotless, and it’s all that you would expect from a car that has been meticulously restored. Therefore, it is probably no surprise to learn that its performance matches those good looks. The owner says that the Convertible runs and drives well and that the transmission is smooth. It seems that it is ready for some top-down fun with a new owner behind the wheel.

It’s a shame that the supplied photos are so dark because they don’t provide a clear look at the interior. It is trimmed in white vinyl and comes with all those features that owners love in a Shelby. They include a tach that reads to 8,000rpm, a console with an integrated ammeter and oil pressure gauge, a rimblow wheel, an AM radio, and all of the usual Shelby badges. The owner describes the interior as looking new, and what can be seen in the photos suggests that his description is appropriate. I can’t spot any faults or flaws, but in a vehicle of this caliber and potential value, this is one thing that potential buyers could confirm with an in-person inspection.

It appears that a spot on Barn Finds isn’t this 1969 GT500’s first star-turn because it has also served as a feature vehicle in an edition of “Mustang & Fords” magazine from May of 2006. That suggests that a few years have passed since to owner restored this classic. That is a significant positive to end on because that means at least fifteen years have passed since that day. If the car has survived for that long, it suggests that the owner performed the restoration work to a high standard and that the Shelby has been stored in a clean and dry environment ever since. There is some time left on this eBay auction, and I suspect that there will be some way to go before the bidding hits the reserve. Given its overall condition, I believe it will need to delve into six-digit territory for that to happen. Is that enough to discourage you, or are you tempted to take a swing at parking this ’69 GT500 Convertible in your garage?


  1. Bakyrdhero Bakyrdhero Member

    Maybe wait for a sunny day to take the pictures…

    Like 24
    • 86_Vette_Convertible

      Absolutely! to gain the most $$ you need a good starting point and that means quality pictures.

      Like 14
    • Wayne T

      Ditto. You never get a second chance to make first impression!

      Like 1
  2. Sam Shive

    Might wanna take the FAKE MAKE IT OVER PRICED mecum thing off the back.

    Like 14
  3. David

    My goodness. It’s a gem. I’m surprised that 428 only has 335hp, figured it would be pushing 400.

    Like 2
    • Cav427

      Actually it was a low balled figure, and not a dyno number. Ford did the math at a drag strip with unfavorable conditions. The number is closer to the rear wheel horsepower than crank horsepower. Insurance rates had started to creep up and cars began to be “uninsurable.” Lower figures helped a bit.

      Like 6
  4. Kirk K

    I’m not really a mustang guy but $8000 seems like a pretty fair price seeing as it’s been restored and not a well kept untouched original based on what alot of.. huh.? What’s that ?! $80000dollars !!! Nevermind I’d go buy 10 modern 5.0 s and have a smash up derby with 6 of them and give 1 to ech to my 2 sons and wife 1st before I’d pay that that much for a used car whoever buys this for that amount of money has 1 too much money and 2 is either not all there or is trying to impress somebody but it won’t be me I’d just see someone enabling the downfall of the old car hobby for the majority of people who cant afford to pay 5 times the value of a car .how much did this guy pay for this car and how much did the restoration cost? I think there’s nothing wrong with making a profit but somebody’s getting taken to the cleaner’s here IMO

    Like 6
    • steve

      I’m not really sure why your here, slow day at the Yugo club of America??

      Like 27
    • Uncle Hector

      Kirk, is it safe to say that you won’t be bidding on this one? I’m sorry that you didn’t plan well for the future. I’m poor too (and wheelchair bound, ding!) but, to lots of folks, this is just pocket change.

      Like 19
      • Nephew Nick

        And Kirk, pretty much anything under 100k is a fair price, IF, it is truly as immaculate as it is impressive!

        Like 3
    • Cav427

      The price assumes an excellent restoration job too. If it was a good job another one shouldn’t be too financially taxing. Who knows what the paint is covering, and how many re pop parts were used last restoration.

      Like 2
    • BleedNRed

      It sounds like a whole bunch of sour grapes to me…

      Like 1
  5. wuzjeepnowsaab

    IF this is a real Shelby 428 4 spd car this is rare as a convertible. It’s rare enough as a sport back. Should go for twice the current bid…needs a Marti though

    Like 10
  6. Tom71Mustangs Member

    So, Kirk- you’re not quite sure if this is the car for you?

    Like 19
    • Kirk K

      Yeah Tom I’m sure. Sorry if I went a little hard on the offering it just shocks me when I see those kind of prices on old mustang or dodge what ever . I do realize I’m not an expert on what makes one car worth so much more than another same as people who collect baseball cards or coins know exactly which ones are priceless and which ones are worthless so I really I dont take it too seriously and just got ranting on a bit and didn’t mean to judge anyone on whatever they’re into . I just like ti look at the pretty cars and doesn’t really matter what the prices are as I’m not shopping right now just sorta keep myself in touch with where prices are incase someday I am looking to buy something about 30 years ago I almost bought a car very similar to this one, about the same year but not a gt,was a mach with a 351 and a manual and I honestly fell hard for that car and still dream about it to this day. It was $850 but I hesitated and someone snatched it up on me .. so maybe I’m still a little bitter from that one LOL
      Yep $850 them were days

      Like 3
  7. Gary

    A friend of my dad has the twin to this one but with all black interior and a 69 500 Grabber Blue Sportroof. He had a White 68 Sportroof but sold it back in the 90’s. Both of his are all original survivors.

    Like 2
  8. ttroke

    A 350 Convertible sold for $115K on BAT in May, I think the reserve must be north of that.

    Like 3
  9. Bick Banter

    These were looked down on by enthusiasts back in the day as a sell out. Big, heavy, and exact same engines as the Mustang Mach I. So it was seen as a badge job by many. Time heals all wounds, I guess.

    Like 9
    • Helmo Member

      I think they should have added a fourth and fifth duct to the hood…

      Like 1
      • steve

        It has five.

        Like 0
  10. SDJames

    What about the earlier Shelby sitting next to it???

    Like 1
  11. Angel_Cadillac_Diva Angel Cadillac Diva Member

    Is this where AMC got their front end design ? At first glance, it looks like a ’69 Javelin or AMX.

    Like 6
    • Gary James Lehman

      The other way around. Javelin came out in 68—this is a 69.

      Like 3
  12. Howie Mueler

    Not only poor photos but very few of them. Says they have a Boss 429 also.

    Like 3
  13. PRA4SNW PRA4SNW Member

    Given the VIN number, it’s pretty easy to trace the history of Shelby Mustangs.

    This one never shows up on any Mecum auctions, so not sure why that plate is on there.

    It was at an RM Auction on Labor Day 2018 in Auburn Indiana and was a No Sale:
    1969 Shelby GT500 Convertible 9F03R480642 3131 $160,000.00 $175,000.00 Not sold Not sold N/A Red over Beige. 428 Cobra Jet V-8 engine with RAM air; four-speed manual transmission, Philco radio; power steering and brakes, Accompanied by owner’s manual, Originally sold through Dan Rohyans Ford of Columbus, Ohio, One of only 244 Shelby GT500 Convertibles produced for 1969

    Like 7
  14. Anthony M.

    I took the liberty of a quick and dirty lightening of a couple photos. There’s a little sumthin’-sumthin’ sitting next to it partially undercover and it looks like another one in blue!

    INTERIOR: https://imgur.com/a/PhL1kf8

    GARAGE: https://imgur.com/JYjwS1p

    Like 2
  15. Glen

    Kirk K writes like a person on blow speaks.

    Like 3
  16. chrlsful

    love the 3 NACA ducts and ac housing under the hood.
    Froma era (still see a few being used today)…

    Like 0

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