Grocery Getter: 1967 Mustang Shelby GT350

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When I checked this listing last night, there was no action for the starting bid of $20K – and I thought it was fitting, given the non-numbers matching engine and swapped automatic transmission. However, in just a short period of time, bidding has jumped to over $30K here on eBay, demonstrating that a genuine Shelby will attract a crowd regardless of what’s happening under the hood. Read on to find out the unusual details about this 1967 GT350. 

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The seller claims to have known about the car for several years, pursuing it until acquiring it in 1995 after discovering it in 1980. As you can see, it’s quite rough and the seller doesn’t try to hide that past bodywork ills will need to be corrected. The original nosepiece is gone (a reproduction will be included) and the passenger fender has also been replaced. The biggest issue is that the correct 289 motor was replaced with an engine from a Granada and an automatic transmission (!) so a previous owner’s wife would be comfortable driving it.

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Isn’t it jarring to think about how often today’s significant cars were at one time throwaway items that weren’t immune from being hacked up and put out to pasture? In the case of this Shelby, a previous owner didn’t even see the point to selling it and buying his spouse a new car, but instead felt it made more sense to pull the drivetrain and make it into a grocery-getter! Fortunately, some of the original features are still included, such as the Shelby steering wheel, and the seller has boxed up the interior for safe keeping. No word on condition, however.

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In the original picture, the tail lights are still attached; hopefully, they have simply been removed and stored for future re-installation. The seller claims this is a major restoration project he will never get to and that the car will need plenty of time with the bodyshop and an experienced metal worker. As we know, genuine Shelbys are desirable in almost any form, so this one will be restored, albeit without a numbers matching drivetrain. But for the love of God, get that engine and transmission out of there ASAP! What do you think it’s worth? How would you restore it?

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Comments

  1. Mark

    It’s certainly very take somebody with a lot of dedication, time and money to bring this one back from the condition it’s in. I can’t believe somebody butchered the drivetrain for the reason that is given! Obviously there are reasons where drivetrain swap is needed but this certainly isn’t one of them. The wife needed to learn how to drive a good car or else get a Pinto to drive to the grocery store.

    Like 1
  2. jay

    My theory is that the original owner did indeed race it, and blew the original motor all the hell. The second owner bought it with the blown motor, and while putting in a new motor decided to switch it to automatic as well.

  3. JW

    As a Mustang owner and lover of the Shelby’s I can’t imagine this car will ever be worth a ton of cash with out the original drivetrain. At the bidding price now I would pass, JMHO !!!

    • David

      For many, it’s all a matter of appearances and some of them have deep pockets. To each his own I guess.

    • Jett

      If it had a date correct 289 and 4-sp, it wouldn’t take as big a hit as one with a 302 auto from a Granada, but it’s always best to try for originality.

  4. Mitch

    I don’t know what you guys are looking at but that car is in pretty good shape and would be a relatively easy resto assuming the underside is as solid as it appears. Most of the expensive and hard to find parts appear to be present. The rest of it is just a bunch of Mustang parts which you can buy almost entirely new now. A non-original but date correct engine will not hurt the value much. There are A LOT of these around without their original engines. Most of these cars were driven very hard. My 67 GT500 was in much worse condition when I bought it but even with the current weak Shelby market, it will still be worth more that I have invested when it is finished.

    • leiniedude leiniedude Member

      Weak Shelby market?

      Like 2
      • Mitch

        For Shelby Mustangs anyway, the market is down a lot from where it was in the early 2000s. Especially the 67-70.

      • Jackson

        Tell me more about the weak Shelby market. Can you summarize the last 30 years of muscle trends generally?

      • leiniedude leiniedude Member

        Mitch, you are talking about sixteen years ago, I do not know if they have gone up or down. I am looking at a July 2016 issue of Hemmings Muscle Machine auction results from Leake in Dallas. A top seller was a 1968 GT350 for $91,300. At $79,200 was a 69 GT 500. Sorry, I did not mean to offend anyone but I think they are climbing in price. $91,300 is a lot of ching.

      • leiniedude leiniedude Member

        Jackson, yes I can tell you about the last 30 years of muscle car prices.

      • Mitch

        A weak market doesn’t mean they are cheap. Sure $90k for a car is a lot of money but when that same car would have been 20 or 30 % more a few years ago, then obviously the market has declined some. Prices may have rebounded a little in the last decade but not much.

  5. Rocco

    Very desirable car, but out of my price range nowadays.

    • TriPowerVette

      +Rocco – I am in the same boat and know what you mean. My brother’s and my 1967 GT500 is listed in the very first SAAC Registry ever published.

  6. stillrunners stillrunners Member

    more on the weak market…..

  7. Jackson

    Did muscle car prices peak in the early 2000s ?

  8. Mike Williams

    You’ll never be able to find the original numbers matching engine for it. For that kind of money I would go for a fastback restomod that’s already done.

  9. brian crowe

    $45,000 with 5 days to go in the auction.

  10. Jackson

    What is this Shelby worth in restored state? What was the highest price these ever reached? When? $200,000 ?

  11. grant

    Why? And how did the steering wheel get broken? I’m just agog.

    • TriPowerVette

      +grant – A turbo zoom mutant owned it. Maybe more than one. There were a lot of them, and they seemed to have the volatile and all-too-common combination of; enough money to buy them, with nowhere near enough class to take care of them.

  12. leiniedude leiniedude Member
    • Jackson

      I’d much rather buy the restored one for $115k.

  13. leiniedude leiniedude Member

    Winning bid $55,995. 38 bids.

    • Jett

      Geezus. That’s a dedicated bidder bidding on a car in this condition.

      Like 1
  14. Jim

    It’s difficult to fathom anyone letting a car like this fall into disrepair. On the other hand, when I as a teenager, I ran my mother’s Ford Galaxie Custom without oil for countless miles. It’s gone now… needless to say.

  15. Bob C

    Such a shame to let a classic go to pot.

  16. Terry

    I need my head examined cause i had a 67 fastback 289 HI PO in 1972 in pristine condition and traded for a LTD. I don’t know what it would be worth now but it would never leave my hands.

  17. Scott Brown

    People shouldn’t be shocked at how roughly the average muscle car was treated. In the late 70s i passed on a 429 C.J 69 Torino. That just made no sense to pay even $1,200 dollars for when i already had a 68 Mustang fastback GT 390. It was clearly special. But,at 19 years of age the mustang and my daily driver 73 Pinto were all i could afford to own.

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