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Needs Finishing: 1969 Ford Shelby Mustang GT350 Project

While we have seen a meteoric rise in Shelby Mustangs over the last several years, the ’69/’70 versions have not exactly enjoyed the upward mobility. The reasons are hard to state, certainly the appearance started to drift further away from the standard Mustang and Carroll Shelby was largely out of the picture. And then the Mustang, in its own right, was really packing a punch with the new Boss Brothers (302 and 429), further making the Shelbyized version seem less special. With that thought in mind, let’s take a look at a ’69 GT350 project car and see what, if anything, we can conclude. This example is located in Branford, Connecticut and is available, here on eBay for a BIN price of $54,000. There is a “make an offer” option too.

Depending on which research source you use, no two were the same, there were about 3,150 Shelby Mustangs produced in 1969. That number includes the fastback and convertible body styles in both GT350 (351 CI Windsor engine) and GT500 (428 CI “FE” engine) trim. Of that total volume, however, about 600 copies ended up being retitled as 1970 models – the difference, besides the altered VIN, is cosmetic. The seller has provided a Marti report to assist with proper authentication.

This 1969 example is a GT 350 which means that it was powered by a 290 gross HP, 351 CI V8 engine, and in this case, working through a four-speed manual transmission (not installed). The seller claims that this original, numbers matching engine has been rebuilt but not fired since completion. While more than adequate on power, this GT350 variant lacks the road course manners of its ’65-’67 predecessor.

Regarding this Shelby’s exterior, the seller states, “The car has been sandblasted down to the original metal then repainted the original color with the original type of single-stage paint, NO body filler on this car at all!!!!!!”. Obviously, a great deal of effort has gone into progressing this notable Ford to this point, but it is difficult to render a critical judgment without the ability to review it existentially. And that makes one wonder why the seller doesn’t complete it to ensure full value. He even states, “have every single Shelby nut and bolt and part, every emblem, seat cushion, seat covers, strips decals, and more, look closely at the pictures, it all wrapped tagged and labeled, You have everything to make this car as original as when it just came off the assembly line”. The seller further adds that the underside of this car has been professionally undercoated. For better documentation, you can check out this video which details the seller’s complete lowdown.

As for the interior, what’s there looks pretty reasonable, but per the video, the seller states that he has seat cushions, center console, door cards, etc. so forth and so on, everything needed to return the interior, and the rest of the car for that matter, back to its original form. The encouraging thing is that the seller seems to know exactly what he has and where it is – it’s a lot of parts!

So why does the ’69-’70 Shelby Mustang not stack up against its predecessors? As suggested earlier, maybe its the progress of the Mustang’s performance which obsoleted this decidedly, non-race-ready, Shelby. Or maybe it’s the rear center-exit exhaust. Or from my perspective, it could be the hood. Five vents! What for? I always thought there were about three too many.

According to the seller, “It’s got everrrything!” I labored through all 14 minutes and 45 seconds of the video and did not hear once, not even a scintilla of a reason, as to why the seller isn’t completing the car himself – it just seems suspicious. On the surface, “everything” presents well and it appears to be a solid project, therefore, why not complete it? And then again, maybe the seller is just over it and wants it gone. I’m not much on assemble-it-yourself projects but maybe this example is worth the risk and effort. What do you think, at this price point, a reasonable undertaking, or does something seem off?


  1. alphasud Member

    There could be a number of reasons the seller wants to move on. Also not disclosing the reason for selling only gives the buyer the incentive to low-ball. Seems like it’s a legit sale and one to seriously consider if you would rather have a project vs. buying one ready to go. I’m sure others will comment on the market value of the finished product and how much it would cost to assemble.

    Like 6
  2. flmikey

    It’s one of those cars that looks almost as good disassembled as it does assembled…the 25 year old me might take a stab at this project, but not the 64 year old me…great find, and if the buyer is like me, they will thoroughly enjoy piecing this classic back together…

    Like 11
    • Classic Steel

      I get it. The 58 year old me feels that way.
      I just finished 63 Split all numbers match that had a good body and frame . It needed engine rebuilt, brakes, fuel lines , clutch etc. etc. and razor blade off three paint layers. I am getting ready to get painted snd put emblems back and new carpet.
      It took work… I will say this would be a couple months weekend project work.
      I am troubled on this one stated engine never started as the warranty is over should any misc items not work or leak….
      I would’ve placed trans and shifter along with drive shaft on car and had a start video.
      I like it with 4 speed and sure it will sell. I also have 67 Mustang convertible.

      Like 5
  3. Fran

    NO BONDO?????!!?!!
    Has anyone looked at the rear quarter door openings???????? Where the door latches.
    That is why a PPI is needed, but if they are like home inspectors, they might not be much good either.

    Like 4
  4. David M. Sawdey

    Does it really matter why the seller wants to part ways with this beautiful car? That’s problem with alot of us, we have our noses stuck in everyone’s buisness. It’s his buisness if does not want to give out that information. The main thing is, the buyer gets the car at a fair price.

    Like 8
    • Jim ODonnell Staff

      On the surface, I agree with you, but it’s not why he wants to part with the car that is the issue, that is his business. It’s why he wants to part with it when it’s in pieces. It projects a veil of secrecy about it as if he has most of the parts but something significantly important is missing or some of the parts don’t actually go together, fit properly or work as they’re supposed to. And as I stated, maybe he’s just done with it and is no longer interested in the project, I get that.

      It’s not about minding his business, it’s about the new seller protecting their business and not getting sold something that is not what it appears to be.


      Like 3
  5. Craigo

    Maybe the seller has a health issue and is concerned that he might not have the time to finish it.

    If that’s the case good health 🙏

    Like 3
  6. 71Boss351


    Like 1
    • stillrunners stillrunners Member

      For $58,000 ???

  7. Skorzeny

    That hood, to me, is intoxicating. I love it.

    Like 3
  8. jokacz

    With all that front end sheet metal replaced with fiberglass, these things had to weigh less than a regular Mustang. And have better f/r weight balance. Or am I wrong?

  9. Barney

    Not referring to this car specifically but in general 68 – 70 GT 350’s. I always looked at Shelbys as performance cars. I was lucky enough in the past to own two Shelbys. A 66 GT350 H (6s1624) and a 67 GT500. To me the 68 and up GT350 drive trains are nothing special. The only thing that separates these cars from a regular Mustang is some visual affects. A 69 Mach I is better looking than the Shelby with the same 351 motor and trans. Just me I guess

    Like 4
  10. Craigo

    I had a new 1965 GTO convertible with base 389/ 325 HP no posi and a Shelby 350H pulled up next to me and he wanted to race. I always thought all the Shelbys were GREAT LOOKING but I totally smoked him.

    It proved that Looks aren’t everything

    Like 4
    • Barney

      I had a GT350H as previously stated. It was very string from stop light to stop light but didn’t have that much top speed. A good friend had a 68 Z Camero. The cars were very similar in the way they ran. The early GT350’s weren’t meant to be drag racers. They were road racer cars. The car was a lot of fun.

  11. Troy s

    I like all the Shelby Mustangs, the early ones with the 306 horse 289 all the way to the end of the line, like this one here. The GT500 will always get more smiles from me more or less because of the 428, either set up. I just really like that engine on a personal level, for lack of a long boring explanation.
    These were cool in their own way, yes there was the new Boss 302 and arguably the most menacing pony of all the Boss 429, the Mach 1, cobra jet power being readily available, and then there were the exciting looking Shelby’s to give the customer even more to consider. 1 Boss 302 powered Shelby GT 350 was built and was found and restored some time ago. Funny thing was Shelby actually never knew about that particular car. Go figure…

    • JoeNYWF64

      Was the boss gt350 factory built? For a racer or an exec?
      Any factory built boss 429 gt500s? Perhaps a test mule?
      Isn’t it amazing for all the money they cost, the modern shelby stang STILL after 15 years!!! has not gotten the signature full width tailites?!
      & it’s not that Ford never made such lites – witness in 2003! …
      The modern “Shelby” stang just “looks” too small compared to the ’69 & the production rear end does not excite me – at all.

      • Troy s

        JoeNY, The original plan was to build 36 or so GT350 Shelby’s with the Boss 302 engine, I learned that part online, but only one Boss 302 Shelby was built, oddly enough, at Kar Kraft. The car exists today, at least it did ten years ago, but yea , a test mule not a prototype and Carroll Shelby never saw it. Seems like the right kind of engine compared to the 351 Windsor four barrel, although both carried similar horsepower ratings.
        No Boss 429’s were ever installed in a Shelby unless done by the owner.


    The seller states that the restoration done so far has been done with extreme care and precision yet they painted right over the door striker on the left door jamb. Two screws and that striker comes right off. And Ford did not paint their transmission cases orange. Things like that would make me want to do a very close inspection before I would part with any cash.

    Like 4
    • Fran

      Did you see the filler/bondo in the picture? Where there is no seem? That filled with bondo my friend

      Like 2
  13. JoeNYWF64

    Odd the passenger’s seat has wrinkles up top, but the driver’s doesn’t. Fixed & switched?

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