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Mean Pony: 1968 Shelby Cobra GT 350

1968 Shelby Cobra Gt

Update – There was a lot of interest in this Shelby, with 27 bids. Even though the auction made it to $31,101, only $6,400 less than the seller’s BIN price, it didn’t meet reserve. The seller has yet to relist the car, but we will wait and see if they do.

The other day we featured an overpriced Shelby GT500 project. Well, today we came across its little brother, a 1968 Shelby Cobra GT 350. At first glance we thought it was the same car because they appear to be in similar condition. This one is also a project, but looks like it might be a little more complete. It is listed here on eBay with bidding at $12k and the reserve nowhere in sight. The Buy It Now price is set at breathtaking $37,500.

1968 Shelby Cobra Gt Front

This Mustang has been sitting in its stable for 30 years and is going to take some major work to get it back out to pasture. The seller mentions that the body work already done is not the best and that it still needs some work on the floors. Overall the car looks solid from what we can see in the photos. All those scoops sure add to the mean look while still being functional.

1968 Shelby Cobra Gt 350 Diagram

The GT 350 was a street legal race car when it was released in 1965. The cars became heavier with each passing year, but this one does show signs of its roots. The roll bar, harnesses, and high performance V8 are just a few of the things that made these cars so desirable then and now. They were also very successful on the track in their day and still continue to roar around tracks at vintage racing events throughout the world.

1968 Shelby Cobra Gt 350 Engine

Sadly the seller suspects that this is not the original engine. The first GT 350s used Shelby’s high performance 289 V8. In 1968 they switched to the 302, which was good for 250 horsepower and 310 pounds of torque. Not outrageous power, but it’s respectable for a car weighing a little over 3,000 pounds. The four speed gearbox must really add to the fun here. View more specs in this vintage brochure.

1968 Shelby Cobra Gt Rear

This car has been optimistically priced, but the question here is, is it a better buy than the GT 500? This car is not the most desirable year of the GT 350s. It is not worth as much as its big brother, but it does seem to be in better condition. It also does not have its original engine. What’s your opinion? Is the price set low enough to make a restoration financially viable?


  1. EJ

    the rear inner fenders kinda look like somebody smeared ’em with mashed potatoes. the red 69 shelby gt350 the seller has for 11.5 G more kinda looks like the better buy here(prefer the ’68 though)

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  2. Chef Voleo

    What it Is is what it is ya goina get sum History

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  3. Chef Voleo

    what it is is what it is History

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  4. Dave Danielson

    I think it’s way waaaay too much! Better shape, maybe.

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  5. chris Lawrence

    NOM and massive amount of work. This one is priced way too optimistically as well. I hate to say it, but without the original motor, this one will never be worth big dollar money. I would have to take the gt500. But that one has a huge bag of issues too..

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  6. dan farrell

    Never saw two barrel carb on a Shelby

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  7. chris lawrence

    If you look closer, this car was hit in the left corner panel. I would check the frame very very closely before any offer.

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  8. Jon Balzarini

    too much for not all original parts…i would think 10-12k would be the absolute bottom line…37k is a pipe dream

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  9. Pat

    The way everthing was tossed under the hood I’m sure the rest of the car is in sorry shape. It will take a bucket of money to make it even a driver… 10 tops and thats if in gets by a good inspection. The days of these Junkers being a pot of gold are over. You’re going to have more then what the cars worth after a basic restoration!

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  10. Jon Balzarini

    i agree…avoid this car like the plague…unless you have buckets of money and time to invest, not expecting a return…..

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  11. mark traut

    i could of been the 2nd owner of the G T 350, Mine was an automatic.

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  12. mark traut

    68 350″s didn”t have a lamans bar.

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  13. mark traut

    Where was it found? Mine was in Ohio.

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