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Long-Term Owner: 1967 Ford Shelby Mustang GT500

For a classic car to provide the best return as a long-term investment, it typically has to be an exceptionally well-preserved survivor or meticulously restored, utilizing as many original or genuine components as possible. That poses the question: How far can such a vehicle be modified before it can no longer be considered the car it was when it rolled off the line? This brings us to this 1967 Ford Shelby Mustang GT500. It presents superbly and can still turn heads and command respect. However, it has undergone many changes throughout its life, many at the hands of its current owner of twenty years. They feel the time has come for a fresh enthusiast to experience the joy it has provided for two decades, listing the GT500 here on eBay in East Hampton, New York. Bidding sits below the reserve at $75,000, with time remaining for those who view this classic as an automotive “must-have.”

The GT500 joined the Shelby Mustang range in 1967, and while many resources quote a build total of 2,048 cars, that figure is based on Fastback production. There were also solitary examples of the Coupe and Convertible built, pushing the number to 2,050. The owner admits this Shelby has led what can literally be considered a colorful life. It rolled off the line dressed in Lime Gold, but a previous owner performed a color change to Candy Apple Red. That wasn’t to the seller’s taste, so they had the body soda blasted before applying Blue. The new paint deteriorated due to some form of interaction with the soda. The exterior was hand-sanded to bare metal before the current Raven Black was laid on the laser-straight panels. It has received minor touch-ups due to stone chips but presents superbly. The Raven Black reflects its surroundings like a mirror, while the contrasting Gold stripes look crisp and sharp. The seller had the underside refinished in Red oxide using an epoxy base for longevity, allowing this gem to remain rust-free. Many original trim pieces made the rewarding trip to the platers, and the original glass is excellent. The existing ten-spoke wheels are 15″ reproductions, and the seller switched the headlights from outboard to inboard units. However, they include the original assemblies for those preferring a stock appearance.

The exterior isn’t the only aspect of this GT500 that received changes or updates. Standard fare in the 1967 model was a 428 FE-Series Police Interceptor V8 producing an “official” 355hp and 420 ft/lbs of torque. This car’s original owner teamed that powerhouse with a four-speed manual transmission, a 3.50 rear end, and power assistance for the steering and front disc brakes. Performance figures were legendary, with the GT500 capable of storming the ¼-mile in 14 seconds on its way to 130mph. However, this car now features a 3.25 rear end, which is the least dramatic change to its drivetrain. The original engine disappeared before the car came into the seller’s custody, and while the new motor uses a correct engine block, its date-code is approximately four weeks after this car rolled off the line. That isn’t the end of the world because they are confident they can find a more appropriate block if the winning bidder wishes. There is more to digest because the seller treated the engine to a rebuild in 2013, adding Edelbrock aluminum cylinder heads and an FiTech dual fuel injection system. They say this system makes the Shelby more civilized and responsive but includes a set of Holley 600 carburetors for those seeking a factory setup. Reversing this modification is probably a moot point because the Holleys aren’t the factory components. If considered purely as a driver-grade classic, the GT500 ticks the right boxes. It is in excellent mechanical health and is a turnkey proposition for the winning bidder.

Most enthusiasts will approve of replacing worn or tired interior trim or upholstery, particularly if an owner utilizes high-quality parts. That was the approach this seller took, although the shopping list was surprisingly short. It comprised new front seatcovers, foam, and replacement reproduction front seatbelts. However, they cater to those craving originality because the factory seatbelts are restored and included, as are the seatcovers. Their biggest shortcoming is brittle stitching, although an upholsterer could address it. Otherwise, there is nothing to criticize inside this classic. The Black upholstered surfaces and carpet are excellent, the dash and pad are spotless, and there is no wear on the beautiful original wheel.

Okay, it’s the moment of truth time. This 1967 Shelby GT500 presents superbly and has no apparent needs or shortcomings. Most enthusiasts would be proud to be seen behind the wheel of this classic, and any Shelby will receive respect. A car of this caliber would easily command a price above $150,000 if it were an original survivor or meticulously restored. A figure of $200,000 would not be beyond reach if two or more people wanted it badly enough. This car has undergone a series of changes, and while some are reversible, it can never achieve the status of a numbers-matching classic. Therefore, bidding may not reach those lofty heights. Consequently, I’m handing this one to you. What do you think the sale price will be? It will be fascinating to see if anyone can hit the nail on the head.


  1. bobhess bobhess Member

    Beautiful car. It’s going to sell high just on it’s looks alone.

    Like 22
  2. Ramone Member

    That interior shot can’t be right. Looks to be a red ‘66 with air.

    Like 22
    • Paul S in TX

      Agree!! If you look at the picture again you’ll see the red hood also.

      Like 7
      • Steve

        I see a 66 dash. whats up with that

        Like 2
    • Chris

      The car was once candy apple red, perhaps this is an old interior picture of the car although I’d like to think the seller would’ve included all new updated pictures for the sale.

      Like 4
      • Paul S in TX

        It’s still not the right instrument panel. This instrument panel is from either a 1965 GT or 66 Mustang.

        Like 14
    • Clarke Morris

      Good catch, that is definitely a red car!

      Like 7
    • ChasMan

      There’s also 2 shots of what looks like a ’67 interior with the same steering wheel as the ’66 shot in the ebay ad. Really odd.

      Like 2
  3. robert f gressard

    The interior photo is a 66 The correct ones are on the eBay add along with the one shown here. Little slip up. Nice car. Some lucky buyer will have a lot of fun.

    Like 5
  4. Johnmloghry johnmloghry

    It’s at over $90,000.00 now and reserve not met. A friend of mine has a 67 Shelby Gt 500 with a factory 427. His dad got the car as a basket case and after carefully checking off parts numbers and rebuilding the car He passed away and Tony got the car. Another coworker mechanic back in 95 had a 67 GT Shelby 350. These cars were very fast in there day. Big money here.

    God Bless America

    Like 7
  5. Ike Onick

    Then you had better be going 125.

    Like 3

    I’m having trouble getting over how absolutely badass this GT500 looks in black. I much prefer it over the original lime gold it came from Shelby with, and if I’m buying a SHELBY GT500 I’m buying it to drive! Leave the meticulously restored and completely original cars to the rich folks, they can park it in their garage and never drive it for fear of hurting the value. The black paint and gold wheels really set this one off. The fact that it has a BUILT 428 and a 4 speed makes me wish it was for sale a year from now, when I’ll be in the market and have a decent amount of cash to buy my forever car, because it’d be a tough call choosing this or a new GT500, which is what I have my heart set on. Good luck with the auction and good luck to the new owner!

    Like 4
  7. Jon.in.Chico

    In 1974 I had a factory 3-speed manual ’55 TBird for sale … guy drove up in a ’68 GT500, with a fuzzy steering wheel and dice hanging from the mirror … he wanted to trade me even but my wife said she didn’t want another Mustang, especially not one from the South Side (we lived in Chicago then) … not the first time I shouldn’t have listened to her …

    Like 3
  8. Rickirick

    Nice.. Very nice. Commanding that much $$$, it shouldn’t be less. It’s definitely all that. Is the bag of chips in the trunk? Lol

    Like 1
  9. PRA4SNW PRA4SNW Member

    Ended at $95,600. Reserve Not Met.

    Like 0

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