Easy Restoration: 1968 Shelby GT500

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This 1968 Shelby Cobra GT 500 is a solid car with no major rust issues. It will need a cosmetic refresh at some point in the future, but none of the work required would seem to be urgent. It is missing a few original parts, so the next owner will probably have some shopping to do if they wish to undertake a faithful restoration. The GT 500 is located in Fairhaven, Massachusetts, and is listed for sale here on eBay. The BIN has been set at $65,000, but there is the option to make an offer.

The Shelby is finished in Wimbledon White and presents quite well. The owner provides detailed photos of the car’s underside, and it would appear that it is as solid as a rock. There is some rust visible in a couple of spots around the car, but it doesn’t appear as though any of this is horrendous. There is some in the rear quarter panel on the driver’s side, along with a spot in the trunk close. The rest of the car looks to be decent, and it does continue to wear all of the distinctive Shelby fiberglass pieces. There are a few dings and marks there, but these could be addressed when the rust repairs take place. One thing that is missing is the distinctive Shelby wheels. This is disappointing, but a search has revealed that a set of these can be secured for around $1,200. Given the wheels that are currently fitted to the car, I can’t help but feel that this would be money well spent.

The interior of the GT 500 is complete, and while it generally looks very good, it certainly wouldn’t satisfy the perfectionists out there. The majority of the interior trim looks good, although there are a few pieces of trim in the rear of the car that has been marked over the years. These may be able to be restored, and if the view is to try to maintain as much originality as possible, then it would be worth the effort. The driver’s seat also looks like it either has a tear or a seam separation, so this will also need to either be repaired or replaced. Interestingly, the tongues for the harnesses both appear to have a significant amount of surface corrosion on them, which is an interesting development when you consider just how little corrosion there is across the rest of the car. The rest of the interior looks pretty reasonable, with no signs of cracks or splits in any other items. The Shelby was also originally optioned with air conditioning, but the compressor is now missing from under the hood.

It was what was under the hood that really made the GT 500 special, and that was the 427ci V8, producing a conservative 355hp. In this case, the car also features an automatic transmission, power steering, and power brakes. The owner does say that the engine is excellent, but he also says something else about it. The 427 that you see isn’t original. In fact, he says that it is dated as a 1964 engine. That’s a blow because a lack of numbers-matching status will negatively impact the car’s value. Just how much can tend to be a bit of an open question.

This 1968 Shelby Cobra GT 500 shows a lot of promise, and it does appear to be a solid and clean car. The cosmetic work that would be required to bring its appearance back to a high level would be neither particularly difficult or very expensive. If it was a numbers-matching car, then a six-figure value would be easy to achieve, but all things considered, I believe that the price that the owner is asking is probably close to the mark. What do you think?

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  1. TimM

    Nice ride great motor!! The only ting that ruins it for me is that automatic transmission!!!

    Like 14
  2. Sfm5

    I like classic Shelbys without the lemans stripes. Thats how the 67s & 68s came from SAI.

    Like 1
  3. Classic Steel

    These cars have gone crazy on pricing like my Split W.

    The NOM makes an big impact .

    The automatic sets it 20k less on original matching numbers matching cars too.

    The price is what the market wil bear with a auto and NOM.

    The biggest question us where’s the Marty report?
    Whomever offers needs to get it inspected by a pro .. not EBay pro but a pro shelby person.

    I be tempted of my coral did not have so many toys. (Four vehicles)

    Like 3
    • Gaspumpchas

      Classic steel, great commentary. Friend of mine recently bought a 68 GTO on fleabay, and had the ebay “so called Pro” inspection, yep nice fancy video but the car had a severely cracked frame, 2 cyls with low comp, shot tranny and rust holes under the back seat.paid 20 large for the car. This is the second friend who in one week got screwed on an ebay car. If you can’t look at it yourself, you are taking a huge chance. Luck of the draw and it shouldn’t be. I’m relatively close to this car; anyone interested can call me at 845-554-6095 if you need a look see. The undercoating scares me to death. All of the Shelby glass pieces are fixable. Good luck!

      Like 4
  4. Troy s

    I don’t believe Shelby ever installed a real deal big bore 427 in the GT 500, maybe in ’67 but not in ’68. 428 PI or Cobra Jet. This car interests me in a lot of ways. If that is really a ’64 427 it will flat out scream, even with the C6 auto. Plus sign…
    The wheels, tires, ‘bars under there in the back, all of it. It’s meant to be driven hard and fast, idling tough at every stoplight….maybe purposely driven slow down Second avenue deliberately..just looking for an excuse to cut loose.
    Really like this ride…..

    Like 16
    • EJB

      I think the only way you could get the 427 in a 68 and up Shelby is as a replacement if you managed to blow up your 428. Though there is the “urban legend” of the W-code being available for the first half of 68.

      Like 3
    • James

      Early ’67 cars came with a 427. A few of them anyway. Shelby quickly changed to the 428 due to it’s availability and cost.

      Like 1
  5. ace10

    That car is in my hometown. Right on the ocean. I grew up thinking that it was normal for cars to begin rotting simultaneously from all directions. Salty ocean breeze plus wet, slushy winters. Absolutely brutal conditions for automobiles.

    Like 3
  6. Eric

    Poor Shelby. I hope your new owner sends your wheels back to the 80’s and fits you with a set of magstars.

    Like 5
  7. HoA Howard A.Member

    I had a friend with a car like this, only a 4 speed. It was the fastest street car I ever rode in. When power shifting from 1st to 2nd, I swear the front wheels came off the ground.

    Like 4
  8. Robert May

    Nice car. I had an all original 68 Mustang that I put 100,000+ miles on in 10 years of daily driving. The seat belt metal rusted on it too. The trunk picture shows at least 2 Shelby wheel covers. If all 4 are there, all you gotta get are some stamped steel wheels and you instantly look a lot better than the generic Centelines.

    Like 4
  9. jerry z

    If money wasn’t an object, a 4 speed swap and drive the hell out it! Screw restoring the car.

    Like 5
  10. Johnny Demonic

    Clean it and drive it as is.

    Like 3
  11. Johnmloghry Johnmloghry

    Young people always drive in the fast lane. I did when I was in the working world, I never wanted to be behind anyone, always out front. Here in Houston driving the speed limit can be hazardous to your health. This car was meant to be driven at the head of the pack, and it has the power to do it.
    Now I’m old and retired for several years I’ve slowed down a lot, seldom ever leaving my neighborhood except for an occasional trip down town to the VA hospital for check ups. This car would only serve as a status symbol for people like me, but it would not get destroyed by hard driving. Toss the coin to see what’s best, young person driving hard, or old fart hardly driving. For me the coin lands on edge, good for both sides, bad for both sides.
    God bless America

    Like 5
  12. Tucker Callan

    The ONLY `68 Ford with a 427 side-oiler was a GT-E! Mercury Cougar.

    Like 4
  13. Rob

    Seller does not put much info in the listing for asking $65,000.00 for it and NO Marty report ?????? it could be a fake ! seller also didnt put the hole VIN in the listing ??????

    Like 0
  14. Fiete T.

    Marty was not available…

    Like 0

      Marti, not Marty. It is a 1968 so there is no reason why a report would not be available.

      Like 0
  15. Roger Upton

    Seller is a Shelby expert. He has been in the Shelby business since the 70’s. If he says it is real, it is real. He has to keep up his reputation. Look at his feedback.

    Like 0
  16. stillrunners

    Did any one else notice the Oklahoma plates ?

    Like 0

      No, but I did see Florida plates.

      Like 0
  17. Jon

    Automatic? Numbers don’t match? Rust? 6,500 not 65,000

    Like 0

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