Documented Survivor: 1967 Shelby Mustang GT500

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Buying a classic car can be fraught with dangers, but when it is a well-documented survivor like this 1967 Shelby Mustang GT500, suddenly life looks a lot easier. The owner is realistic that the vehicle isn’t perfect, but if the buyer wants to retain it as-is to preserve its originality, that is a viable proposition. A new home is beckoning for this desirable and potent classic, so if you find yourself tempted, you will find the Shelby located in Charleston, South Carolina, and listed for sale here at Barn Finds Classifieds. The owner has set the sale price for this GT500 at $200,000.

There’s a lot to take in with this Lime Gold Shelby because it isn’t an understatement to say that these cars have developed a legendary status. Your run-of-the-mill ’67 Mustang is already a desirable car, but the GT500 pushes that desirability to a whole new level. The fiberglass additions, along with the distinctive grille and taillight treatment made these cars stand out in any crowd. This Shelby is completely original and unrestored. Its paint has never been touched, and it has never suffered any accident damage. It is also worth noting that it is no trailer queen. This classic has not been squirreled away in a garage. It has been driven and enjoyed exactly as its creators intended. The paint wears the chips and marks that you might expect to accumulate over 54-years of use, but it still manages to hold a winning shine. The panels are straight, with a fit and gaps that look tight and consistent. The fiberglass components are generally in good condition, with only a couple of minor flaws. We inevitably need to turn our attention to the question of rust, and it is here that the news remains extremely positive. It appears that the Shelby may have been the recipient of a dealer-applied undercoat when it was new, and most of this remains intact today. Where has disappeared, what we find is the factory red oxide undercoat. All of this combines to leave the underside of the vehicle rust-free and structurally sound. The owner acknowledges a small hole in the rear quarter panel, but this is small enough that it could be addressed with a patch. There are small spots of surface corrosion present in a few locations, but nothing that would demand immediate attention. The chrome and trim appear to be in excellent condition, as is the glass. Our more eagle-eyed readers will note that the GT500 doesn’t wear the distinctive 10-spoke Shelby wheels. That is a testament to the originality of the vehicle. The original owner ordered the car with the Shelby hubcaps, and these are what remain on the car today.

While the 1967 Mustang offered the promise of impressive performance levels, the GT500 ramped that up a notch or two. This was achieved by shoehorning the 428-8V interceptor V8 under the hood. This brute of an engine pumped out an “official” 355hp, although few people actually believe that figure. Insurance companies and government regulators can begin to twitch uncontrollably when they hear high horsepower figures, and it was quite common in this era for manufacturers to underplay their hand in this area. There are plenty of people who are well-versed in the area of American high-performance cars who believe that the truth rested some way north of 400hp. Bolted to the back of this monster motor is a 4-speed manual transmission, while the car is also equipped with power steering and power front disc brakes. Point a GT500 at the ¼ mile and you could be guaranteed that the journey would be short and sweet. It would cross the line in 14.7 seconds, and if the driver was brave enough to keep the right foot buried, the Shelby would run out of breath at 155mph. Those figures stack up quite well today, so imagine how they sat with the buying public 54-years-ago. This GT500 is in extremely good mechanical health, as it has only accumulated around 1,000 miles since the previous owner treated the engine to a rebuild and replaced the clutch. That rebuild makes for good news, but it does bring a small slice of bad news. The car is numbers-matching, but during the engine rebuild, the original carburetors disappeared. These have been replaced with reproduction components, but they count as the only non-original components in the drivetrain. However, every cloud does have a silver lining. The owner has managed to source a set of the correct carburetors with the right date code. They require a rebuild, but they are included with the vehicle. For buyers intent on instant gratification, the Shelby is said to run and drive perfectly. It has a genuine 50,760 miles showing on its odometer, and this reading is backed by documentary evidence.

When we turn our attention to the interior, we find that it is upholstered in its original Black parchment trim. There’s a lot to like here, and not many problems for prospective buyers to be concerned about. There is some wear on the door trims, and cracks on the driver’s armrest. The driver’s seat also sports a split, and this will leave the buyer with some decisions to make. These are the only identified flaws, and replacing the offending parts to address them is conceivable. However, that will have some impact on this Shelby’s original survivor status. I would be inclined to have the seat assessed by a competent upholsterer, as they might be able to offer a repair solution that won’t compromise the originality, but will prevent further deterioration. Beyond these issues, the carpet and headliner are in excellent condition, as is the dash. The rear seat is in as-new condition, and I doubt that anyone has ever used it. Once again, the interior features a few distinctive Shelby components, including the gauges under the dash, the roll bar, shoulder harnesses, and the beautiful steering wheel. Everything inside the vehicle functions as it should. The exception is the speedometer, which recently gave up the ghost. The owner has stopped driving the car because of this issue, as he doesn’t want to impact the odometer’s true reading. The buyer will need to address this, but given this car’s history, it should be worth the effort to do so quickly.

This 1967 Shelby Mustang GT500 is not perfect, but that’s what makes it such a special car. The company only produced 2,048 examples in that model year, and a mere 1,376 featured the 4-speed transmission. They appear on the market regularly, but the majority that do have undergone at least a partial restoration. This one has never been touched beyond an engine rebuild, and that makes it a rare beast. It wears its survivor badge with honor, and there’s no reason why it couldn’t continue to do so for decades to come. But will it do so in your hands?

Auctions Ending Soon


  1. David

    Too much car for you.

    Like 0
  2. 86_Vette_Convertible

    And here just yesterday I saw a 2021 Shelby Gt500 at the Ford dealer for $104K. I can’t justify that let alone double the $$ regardless of how the vehicle looks or drives.

    Like 10
  3. Skorzeny

    I love the car, but WILL NOT spend $200k on a car with wheel covers. Put some real wheels on this thing, please. An ‘84 Cutlass Ciera comes with wheel covers, not a Shelby!

    Like 9
    • Richie Mashburn

      Yes, all ’68 GT500KR’s came with the year specific hubcaps. Do research and you’ll see.

      Like 1
    • JoeNYWF64

      Some of these did & THE man is posing with em!
      How bout the movie car below? Would you buy it if you had the money? Bring it to a car show with fancy wheels claiming its movie pedigree & no one would believe you, or u might even get yelled at if they did believe you. lol
      The wheel covers on the Charger in “Bullitt” flew off & reappeared back on the car several times.
      That movie would just not be the same/as iconic if the charger did not have wheel covers!
      BTW, all vettes also were avail with wheel covers(std or not) through 1973, i believe.

      Like 0
  4. Robert Sykes

    378 HP is what it actually put out,article in MCR dyno’d one refurbed to factory specs even using the horrid exhaust manifolds…and 378 is what it put out,I think it was around 469 torque(higher than the advertised 420)

    Like 7
  5. JBD

    Early ‘67 with dual quads & interior fog lights. A very rare & desirable real Shelby and should go for close to $200k.

    Like 3
  6. bikefixr

    To think, I passed on a tatty red ’67 GT350 back in ’83 for $2100….

    Like 5
  7. Howie Mueler

    Mighty dirty under the hood for $200k.

    Like 6
  8. Mustang

    “Survivor” with repaint and wrong stripes?

    Like 1
  9. David Bearden

    Why was it necessary to have the engine rebuilt??? With only 50,000 miles.Original carbs went missing???Bought new correct carbs???Spent all that money and not fix the speedo??? Just curious….It is a super nice car and will bring big money…Those old 428Fords were monsters.

    Like 3
  10. Robert Sykes

    Those wheel covers are one of the rarest Shelby items…very few came with and fewer survive..that’s a massive bonus on this car.

    Like 0
  11. ERIK

    As a huge Mustang fan, for $200k I really wish it were Jim Morrison’s “Blue Lady”

    But even the $200k on this one is something I likely will never be able to touch and that is because most that do actually purchase at this price level are either 1) financial “investors” looking to add to their “portfolio”; 2) money laundering dealers and oligarchs; 3) sports or music stars at top of earning career; 4) trustfund brats; 5) CEOs and upper-tier corporate earners. Since I am none of the above it looks like I will have to sit and watch from the sidelines on these.

    Like 1

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