Update – The auction for this GT500 ended without any bids. The seller’s starting bid was just too high for a car in this kind of shape. They haven’t relisted it yet, but we will be on the lookout to see if it shows up again.
There are few American cars as iconic as the Shelby Mustang. The Ford Mustang was a great car, but after Carroll Shelby got ahold of it, it became a true monster. We are not the only ones who have dreamed of finding one of these in an old barn. Sadly there aren’t many Shelby Mustangs left out there, but the seller of this 1967 Shelby Mustang GT500 might be one of the lucky few to ever have that joy. After being in storage for 37 years, this beauty has been pulled from its resting place and is now being sold. This GT500 is located in Woodstock, Illinois and has been listed here on eBay. The seller has set the starting bid at an astronomical $89,995 and a Buy It Now of $95,125.
Time in storage hasn’t been good to this amazing machine. The seller has started the restoration process and some of the major body work is already done. The front fenders were rusted away but have been replaced with red oxide NOS Ford fenders. At first we weren’t sure if this was a real Shelby or just another clone, but the VIN checks out. We would still want to double check all the numbers and have it inspected before putting out a dime.
The interior in this Shelby needs about as much work as the outside, but all the Shelby bits are there and look good. The driver’s side floor was rotted, but has already been replaced with a high quality reproduction pan. Amazingly the seats are intact and shouldn’t need much more than a good cleaning. There is one piece of molding that is going to need to be replaced, as well as the carpets, headliner, and aluminum panels on the dash and doors.
What made the Shelby such an amazing car was the built proof drivetrain that Shelby wedged under the hood. The GT500 was for the most part, the same car as the GT350, until you popped the hood to find the big 390 cui V8 or the giant 428 cui V8. This car came with the 428, but when the seller got the car it had a 427 Holman and Moody sitting in the engine bay. The 427 was built by Holman and Moody to be used for racing and only a few were ever built. The seller is offering the car with the 428, but for an extra $12,500 you can get the 427. While the 427 isn’t the original engine, it would make this one wild ride.
This Shelby is truly an amazing find, but it’s going to need a lot of work and money invested into it to be road worthy again. This car will look amazing repainted in its original white and blue paint scheme. We really hope that all the numbers on this car checkout, but we aren’t sure about the seller’s asking price. A few years back we would have said this car was a great buy, but today one can pick up a nice GT500 in the low $100,000 range. Hopefully the seller will come down to a more realistic level, so it can go to an owner that will get it back on the road.
That’s a lot of money for a GT500 project. For example Legendary has a fully restored 67 GT350 (realize it is “only” a 350) for the same money. Besides that whomever welded in the floor did a horrible job, so you are going to have to take the pans out to begin with.75 would be on the high end for this car, 50 is a more realistic number.
Nice project find, is the offered 428 orig.? if so the rest of the drive train would have to be oem- trans, rearend and the 427 H/M is great (20K+ alone). 50K for everything is a fair start.
Video of a Ford 427 sohc, how sweet it is!http://www.youtube.com/watch?v=vNRcUOE2NaA
Should of left it in the barn also are ALL THE PARTS still there if not, not worth the price.
Not worth the price as an investment.
Just watched the great american auction last night on NBC,and they auctioned a pristine 68 shleby,428 KR for 100k,doubt i would spend more than 35 k for this one
Im soul crushed, I bought a perfect orginal cond 67 GT 500 in the early 80s and had to sell it a year later. We made some money, but that was just before prices went nuts. Everytime I see a 67 I have to change channel. owwww.
Because of the high amount of energy these cars see from collectors, this one would have to be a pass for most of us. The BIN price must have been set by a retard.
One more thing.. If the owner had started the restoration.. why does the engine bay shot look as if the skins had been placed on (poorly, I might add) at least ten years ago?
The Price is high, That I do agree on. I would like to see more photos and talk with the owner
what a peice of junk that price is way to high. this market is really bad right now for muscle cars. by the way i know this car and he rebody it took off the vins and put them on a fastback mustang like i said peice of junk and engine is not matching #
A bit of history here. Bill Barr was an engineer who worked on the 428 engine program from its outset in late 1965. He was there when the first prototypes were tested. The 1967 GT 500 came with one engine and one engine only. It was the “P” – code police interceptor 428. No 390 engine was installed in the GT500 in ´67, not that I have read or heard. The PI engine was used for the GT-500 because, according to Mr. Barr, it was the only emissions certified version of a performance engine that Ford had available. Shelby installed the 427 Low Riser style intake and different cylinder heads, designated C7AE – X. The internals were mostly GT390 pieces; cam, rods, oil pump and such. The crankshaft was the first and original “IU” designated, used for 428 and 410 CID Mercury engines in 66-67.
Addendum: This GT-500 has a very low consecutive unit number of 225, which means it COULD have been built at the old Shelby American plant in Los Angeles.