The listing for this 1968 Ford Shelby Mustang GT500 attracted my attention because of its inclusion of the before and current images of what is arguably, one of Ford’s most uber collectible cars. I suppose you could refer to this as one of those changing-horses-in-the-middle-of-the-stream affairs as the car was dismantled and has now only been partially put back together. There’s a lot going on here, so please follow along. Barn finder Stan uncovered this project for us – it’s located in Mound House, Nevada and is available, here on craigslist for $85,000.
Originally finished in Acapulco Blue, the exterior actually presented pretty well before the big teardown commenced. I’ll quote the seller who states, “I personally disassembled the car from its unmolested original state, and I have extensive photographs taken as I tore it down, as well as every nut, bolt, screw, fastener, clip, etc. that was removed. The car had a few spots of typical Mustang rust where water had leaked in over the years that have been properly patched, but make no mistake, this was NOT “rusty” car“. With that knowledge, it makes me wonder why the necessity to perform a complete restoration as I would think a car such as a Shelby Mustang would be better served by maintaining as much originality as possible. The work that has been done here appears to be of thorough and well-executed quality, but it has and will continue to be, a lot of effort and expense. Then again, perhaps originality didn’t creep into the equation and it’s more of a striving for excellence undertaking. Interesting to see is the inclusion of the original “mag-style” Shelby wheel covers, items that Chevrolet and ChryCo also developed. The seller mentions, however, that he has a set of Shelby aluminum ten-spoke wheels that can be made available.
As opposed to the Cobra-Jet version of the 428 CI V8 engine, this GT500 is powered by the 360 gross HP “Police Interceptor” version of that famous FE powerplant. The seller adds, “The engine is currently being professionally rebuilt the RIGHT way by an FE expert (not a cheapo slap-together build, but a high-quality lifetime build) and will come with the car of course when it is finished“. Built with a C6 automatic transmission, a non-born-with version is included in the sale. However, if the new acquirer would prefer, a four-speed manual transmission, including all of the necessary conversion components, can be made available too.
The seller mentions that an Alcapulco Blue exterior would usually be wrapped around a black vinyl interior but not in this case as a saddle tan environment was the order of the day for this car back in ’68. As can be seen, the interior is completely gutted and will need everything – and there’s cause for concern. The seller says that he has an interior kit that can be included in the sale but I wonder how totally comprehensive it is. Interiors, above all else, are the realm of many tiny, obscure parts – often items, not seen, that are still critical to a car’s operation.
So, what are you getting for $85 large? I’m not completely certain as this one sounds like an ala carte menu – you can mix and match but then, what will all of that actually cost? The seller states, “The price for the car along with EVERYTHING I have for it is $85k“. But is everything that he has, everything that you will need?
As a Mustang restorer myself, this is a solid car. If you are a capable person yourself, this can be a deal. If you’re paying a shop, you shouldn’t be upside down, but you’ll be at market price.
I like Shelby’s
I do not like taking over a complete tear down as its going to have some missing bolts and pieces .
Why stop mid way on a 155 thousand to 170 grand car?
Hi there! I just posted a lengthy comment that answers your legitimate question on why we stopped part way through. The short answer: life sometimes throws curveballs at you, sometimes big nasty ones, but sometimes nice sweet ones that you can’t help but respect and admire.
You have no reason to trust a stranger, nor should you, as I tell people all the time in the automotive world.. but in this case, absolutely nothing is missing from the car from when it was torn down. I can’t guarantee that every single fastener and part is 100% correct, as this was a properly used daily driver for many years.. but every part that *I* removed has been retained. Along with approximately 2,000 pictures taken during the whole process.
Hello everyone.. I am the seller of this Shelby. Thanks for giving it some attention here!
There are two primary reasons for the extensive teardown. The first and foremost is that, in my opinion, the only way to really do it right and to last for the long haul is to start over from scratch. Being that it needed some light rust repair and complete cosmetic restoration anyway, there is no originality to be retained as far as paint work goes. I wouldn’t paint the outside while leaving a tired, weathered trunk or engine bay, so it makes sense to do a complete teardown. Find ANY issues that need attention, correct them all, then build a car to really last the long haul. This was a car that was daily driven and presumably left outside for many years, and had all of the issues you’d expect such a car to have, so it was in no way what I would consider “survivor” condition that was worth preserving. It had had one modest repaint that was not holding up well at all. The interior was in shambles as far as upholstery goes. The windshield leaked. It was missing its original engine and trans, with a 427 side-oiler installed in its place. This car was used and driven as Carroll Shelby intended, and it showed. Thus, it needed and deserved a full restoration.
The reason for the change of plan ties into the other reason for full teardown: The original plan for this car was a tasteful, somewhat modernized restomod build. The owner wants a lifetime keeper done his way, with no concern for resale or concours judging, but a tastefully modernized ultimate street Shelby that remains true to the roots of a vintage Mustang, but taking advantage of how technology has advanced in the last five+ decades. A healthy amount of power, with suspension and other upgrades to match, with the focus being on a truly drivable street beast, not a no-holds-barred race car or gaudy custom show car. Something along the lines of what we think Carroll himself would build if he had access to some of today’s technology back in ‘68.
However, a superior car came along that we are now building instead: a Special Yellow four speed KR. This is the car we will now be building as his “holy grail” keeper. Hence why the blue car is now for sale.
The blue Shelby here went to a trusted painter to begin its paint and body refreshment, but unfortunately we lost him due to covid in 2021, long before he could finish his work. With my focus now being on the KR (among other cool projects of his, like the Torino 429CJ parked next to it), the reality is that we will not be able to get started on this blue car for quite some time. His “daily driver” is a Paxton supercharged GT350, that will eventually be replaced by the KR when it is done. So this blue GT500 doesn’t really have a place in his collection any more.
As I stated in the ad, I have EVERY original piece, part and fastener that was removed. I have probably 2,000 pictures taken of the whole process, including some videos of the still-assembled car, and pictures all the way to completely stripped, media blasted shell. The new interior bits that we have are far from comprehensive, as we purchased primarily the upholstery and some trim items, but far from everything. If this car is to be concours restored, every single original piece has been retained, so you can decide which direction you’d prefer to go – either restore/reuse as much of the original as possible, or everything is available new reproduction.
The new owner definitely has some work to do, and I certainly don’t expect them to trust a random stranger who is trying to sell a car, but I know that this car is a good starting point for someone who wants to build one the right way, and KNOW what they’re getting into and what they will have when it is done. At least with this car you know you’re starting off with a car that retains most of its original sheetmetal, and some of the cleanup/exposure work has already been done for you.
Thanks again for the additional exposure!
Thx for your comment and explanation, you definitely seem to know what you’re doing. Good luck with the sale!
JO
Heh, well, we’ll see if I know what I’m doing! Thanks for the well wishes.. I have the patience to find the right buyer for it, and I’m confident I will. The guys looking for quick money-making flips aren’t it, of course. This is for someone who can do at least some of the work themselves, who wants to build their own and KNOW what they have, rather than buy someone else’s “finished” car only to find out a lot of corners were cut when it was restored.
Solid Shelby projects are quite rare, as anyone who watches the market regularly knows. Most are either rough and rusty and need everything, or they’re tired old drivers where you don’t know what all they need, or they’re restored, some very nicely, some less so. This car doesn’t need the $20-40k+ worth of metal work that so many midwest or east coast cars need. It verifiably retains most of its original sheetmetal. This counts for a lot. Starting with a rusty car and trying to hunt down NOS or clean original sheetmetal is time consuming and EXPENSIVE.. no need for that here. Lot of guys underestimate that, and nobody wants to use a bunch of chinese repop sheetmetal on a Shelby, nor should they. The lightweight rust repairs that this car needed were almost $10k alone between sourcing sheetmetal and labor. That, and the 428 PI engine build and parts cost will be close to $20k. That’s another big expensive the buyer won’t have to absorb.
The lack of original drivetrain is neither a surprise nor a dealbreaker on most Shelbys as A) so many were driven hard and the motors were trashed, and B) the pedigree of the car is so much deeper than just the engine. Automatic cars especially, there aren’t too many guys wringing their hands over not having the original slushbox.
Anyway, we’ll see how this plays out. I’ve had a fair bit of interest in the car and am confident I have it priced right. Time will tell!
The reason for the change of plan ties into the other reason for full teardown: The original plan for this car was a tasteful, somewhat modernized restomod build. The owner wants a lifetime keeper done his way, with no concern for resale or concours judging, but a tastefully modernized ultimate street Shelby that remains true to the roots of a vintage Mustang, but taking advantage of how technology has advanced in the last five+ decades. A healthy amount of power, with suspension and other upgrades to match, with the focus being on a truly drivable street beast, not a no-holds-barred race car or gaudy custom show car. Something along the lines of what we think Carroll himself would build if he had access to some of today’s technology back in ‘68.
However, a superior car came along that we are now building instead: a Special Yellow four speed KR. This is the car we will now be building as his “holy grail” keeper. Hence why the blue car is now for sale.
As I stated in the ad, I have EVERY original piece, part and fastener that was removed. I have probably 2,000 pictures taken of the whole process, including some videos of the still-assembled car, and pictures all the way to completely stripped, media blasted shell. The new interior bits that we have are far from comprehensive, as we purchased primarily the upholstery and some trim items, but far from everything. If this car is to be concours restored, every single original piece has been retained, so you can decide which direction you’d prefer to go – either restore/reuse as much of the original as possible, or everything is available new reproduction.
The new owner definitely has some work to do, and I certainly don’t expect them to trust a random stranger who is trying to sell a car, but I know that this car is a good starting point for someone who wants to build one the right way, and KNOW what they’re getting into and what they will have when it is done. At least with this car you know you’re starting off with a car that retains most of its original sheetmetal, and some of the cleanup/exposure work has already been done for you.
well to start off it’s to bad that the car was torn down to begin with cuz it looks to be in good driver condition which is just the way I would have kept it and driven the crap outa it, also not everyone is looking for a concourse or even a complete show car that your afraid to drive or take to an auction, plus in it’s original state it would be close to the $85,000. that he’s looking to get but not now, and unfortunately this is one of those cars that will end up going from collector to collector and not to someone who really enjoys driving the car and been wanting one just enjoy, but we all know that this is not a hobby anymore just a cutthroat business all about the money, very sad to see
Mitch, I agree if he had left the car alone without number matching drivetrain, this car as is where is would of fetched easy 60/75K.
This car sold for close to asking price without its original motor and no transmission at all. You simply are not in touch with where the market is on these cars.
I agree that the price is way too high for the asking, considering the drive train is not original and neither are some of the included parts, and the fact that all of the parts may not be there. This is a big undertaking, as I suspect that the paint alone – considering it isn’t just topside – will be 20K or more. This is a project for someone with a stout heart and fat wallet. Obviously, if someone can do all of the mechanical reassembly themselves, that will be a savings. But if paying somebody, I don’t think the investment will ever be worth the combined costs to finish.
The only way not to take a a huge financial loss on this car is not to do it.
Sad.
I agree with some of the others, and if that’s the original paint in the second picture a good buff job would have brought the paint back to life and again make a great daily driver because they are only original once, but greed gets in the way !!!
Don’t mean to be rude, but I explained here that it was not the original paint, and it was in bad shape. Not buffable survivor condition – BAD condition. The ad and pictures make that clear as well. This was in no way a survivor that would have been presentable with just a little elbow grease. This was a worn down, daily driven, used up car that needed everything, and would have continued to deteriorate if left untouched.
The reality is that the guys who say they would just drive it rough and unrestored are the guys who might do that with a regular Mustang, but can’t afford a Shelby. The guys who can afford one want their cars nice, understandably so. That’s why they get restored, and why they’re worth restoring. The guys who focus on what they can get out of it when it’s done as their main purchasing criteria aren’t buying Shelbys anyway.
Hmm, it’s all about $$$.
Looks like doghouse/nose replaced in the past with small block one? Don’t see the Big Block braces that the factory spot welded in middle of shock towers/engine braces assembly. What do you first gen Shelby mustang experts think?
Wraparound big block shock tower bracing began with the CJ cars in mid model year ‘68. 428PI cars do not have the wraparound braces. You don’t have to take my word for it, the information on these cars is all out there for study for anyone inclined.
What are you calling the “doghouse/nose”? Whatever it is that you’re referring to is incorrect, no sheetmetal on this car has been replaced except for the patched floor and quarter sections as previously explained. Anyone who comes to inspect it thoroughly in person will see nothing but factory spot welds and appropriate date codes throughout. Yes, every individually stamped piece of sheetmetal on the body has a date code. I bet a lot of the talkers don’t know that, because they’re not in the game, they’re just talking. Likewise, an experienced Shelby person will recognize the original rivets on the Shelby tag underhood, the VIN plate on the dash and the door tag on the driver’s side door. Not to mention, the really sharp eyed folks will spot the small differences in the body shell between a standard Mustang and a Shelby.
For all the others who are obviously clueless about what makes a Shelby a Shelby, all I can do is laugh. The guys that are actual players in this game know what they’re looking at. Asking questions to verify legitimacy is one thing. Declaring it no longer a Shelby and just a Mustang because the original engine is gone is silly and ignorant. Again, it’s just talk from people who aren’t in the game anyway, and probably don’t even have Mustangs at all, they just try to trash others for reasons that I can’t comprehend.
Just ignore these schlubs …. you are right, not players anyway, so let em talk!! The insistence upon “it’s not a Shelby anymore” is funny. You have clearly stated that the project began for the client as a restoration of the already in great shape body, but that the rebuild certainly recognized that the original drivetrain was not part of the project. As I have read through your MANY replies, not once did I understand you to say this was going to be a fully restored, original, #s matching project that a new buyer can now finish. In fact (I’m not reading thru them again! :) ) , I believe you clearly stated that the new buyer can take this in any direction they wish!? But for any of these dudes to claim no value in the original VIN plate and thus the genuine Shelby body are just making noise. I love that they are SO vocal in the comment section …. it just makes me wonder what it is they have in their garage??? You seem like a good dude just trying to salvage some $$ due to a mind-changing client …. good luck with the sale and just put the comments on mute!! ha!
“Original”? The term “original” and “restored” Mustangs shouldn’t be combined these days anymore. The value was in the car BEFORE it was ripped apart and then listed at an “original” Shelby price. Thats like me taking my $100 bicycle apart and then trying to sell it for $100.
looks like a 50k ride to me