Back Room Find: Shelby GT500 Convertible

There are stories that show you it’s always worth keeping in touch with owners of special cars. The current owner of this barn find Mustang Shelby GT500 convertible wasn’t able to buy it the first time he laid eyes on it, but persistence won out and he was first in line to buy when the seller decided to part ways wiith his Shelby. Although it’s not currently for sale, the story is worth reading and can be found here on

The current owner had originally visited the shop where the Shelby was stored to look at another car. After spotting the convertible way in the back of an outbuilding, he learned it was not for sale. Still, through the magic of text messages, he was able to periodically check in on whether the owner had changed his tune. Eventually, he did, and the car was bought with very few questions asked. The condition appears quite solid, especially for a car that’s been off the road since 1980.

The interior, while dusty, presents quite well. Apparently, the previous owner pulled the engine in 1980 and the Shelby proceeded to sit, stored inside, until just recently. This has kept the body in very good shape, and the owner estimates 75% of the paint remains original. While he likely paid top dollar for this car, there’s something to be said for starting with a solid platform that won’t nickel and dime the next owner to death. The woodgrain finish in the dash and on the door panels still appears quite nice as well.

As mentioned, the engine was removed for rebuilding and is numbers-matching to the car. Although it’s hard to determine what sidelined the Mustang originally and lead to the engine being removed, the block appears quite clean and free from grease and oil stains. Perhaps the owner has already undertaken cleaning and rebuilding? Regardless, these cars don’t pop up too often and the current owner is wise to hold onto it – at least for a little while.

Fast Finds


  1. angliagt

    So nice to read a story like this,without someone
    trying to flip it.We need more of them.

    • PRA4SNW PRA4SNW Member

      Either that, or waiting so long to finally get to buy it that the car is so deteriorated that they can’t afford to take on the restoration.
      It’s a shattered dream rather than a flip.

  2. JC

    Love the ’68 Convertible Shelby’s. All those interior parts with the wood grain will need to be replaced as you cannot separate it from the plastic chrome without damaging it. Also, numbers matching is hit and miss with Ford’s, I’ve seen documented cars as late as 1970 without stamps on the block and/or trans. Best you can hope for is date correct and any docs to support it. This is definitely my kind of barn find.

  3. JW

    Not a convertible fan but I would love to own this year of the Mustang Shelby but my bank account says never.

  4. Leroy

    Great find! Persistence pays off, sometimes. Too bad the previous owner didn’t roll up the windows.

  5. cudaman

    A friend of mine owns this one on the right……..

  6. stillrunners lawrence Member

    maybe the clutch went out ?

  7. IanM

    Its a forlorn looking thing sitting at the back of the shop. But when the car is in daylight (probably for the first time in many years) the potential it has looks much clearer. Its a project for sure, but that’s what BarnFinds is all about. Guys spending years to track down the car of their dreams, using patience, contacts and the right wad of cash, and then setting about a rebuild for themselves, not solely for a profit from a flip. Good on the buyer – and when its done, let’s see a YouTube vid and hear that 428 brought back to life!

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