Some classics are desirable, while others rightfully wear the legend badge. Inclusion or otherwise on either list will start conversations, but I think it is safe to say that virtually any First Generation Mustang wearing the Shelby badge is legendary. That is true of this 1968 Shelby GT500 Fastback. It presents superbly, while the V8 hiding under the hood guarantees it has the muscle to match its good looks. It is set to cross the auction blocks shortly, and I must say a big thank you to Barn Finder Aussie Dave for spotting a classic that is listed with No Reserve.
I have always considered the pre-1971 versions of the Mustang the best-looking in the badge’s long history. Others may disagree, but that statement is a personal preference. The pony car remained relatively lean and purposeful, an impression that was heightened once Carroll Shelby’s company had bolted on the additional panels, scoops, taillights, and the beautiful ten-spoke 15″ wheels. The history of our feature car is slightly vague because there is a substantial gap between when the first owner took delivery and when a subsequent owner became its custodian in 2001. Therefore, it is unknown whether it is totally original, or if it has received at least a partial restoration at some point. There is no denying that it presents superbly. The Highland Green paint retains an incredible depth of color and shine that you could almost walk into. The White stripes provide a striking contrast, and the panels are laser-straight. The Shelby additions are in first-class condition, while the trim and glass appear flawless. My only fear is that the winning bidder will lock this GT500 away and that it will rarely see the light of day. I appreciate that it is desirable and hitting the road poses a risk of physical damage. However, Carroll Shelby designed cars like this to be more than a feast for the eyes. They were created to be driven and enjoyed.
As an early example of the 1968 GT500, this car features the 428 Police Interceptor V8, churning out an “official” 360hp and 420 ft/lbs of torque. Those figures have long sparked debate, with many learned people believing that there was some serious underestimation involved. The rest of this Shelby’s drivetrain includes a four-speed manual transmission, a 3.50 rear end, and power assistance for the steering and front disc brakes. The term “rapid transport” seems appropriate for a car that can storm the ¼-mile in 14.2 seconds on its way to 130mph. One crucial consideration with any classic of this caliber is whether it is numbers-matching. This doesn’t rate a mention in the listing, and nor is there any information regarding the car’s health. However, considering the auction estimate, I would expect positive news on both questions.
I have lost count of how many of these cars feature the Shelby signature somewhere, and this GT500 is part of that group. The first owner equipped it nicely, from the Black knit vinyl trim to the tilt-away wheel, AM radio, and the Sport Deck rear seat. It also retains the unique Shelby features like the additional Stewart Warner gauges, roll bar, and shoulder harnesses. The interior presentation is on par with the exterior. There are no signs of abuse, neglect, or significant wear. The dash and pad are spotless, and the signature is the only aftermarket addition.
Any readers who might be interested in pursuing this 1968 Shelby GT500 Fastback will find it listed here at RM Sotheby’s. It is set to cross the auction blocks in Monterey, California, on Thursday, August 15th. The owner has listed it with No Reserve, and if past sales are a clear indication, the action will probably be quite intense. The auction estimate of $150,000 – $200,000 is realistic, especially considering values have climbed by around 5% in the past year. This Shelby is too rich for my blood, but I think I’ll watch the auction to see how it plays out. Will you join me, or are you planning to take an active role in giving it a new home? I wish you luck if you do.
Good write up Clarkey.
Chevy and Mopar guys would make room for this Ford in the driveway. 😎🏁
Hey Stan, I got a “tums up”, and you got it. I suppose it won’t happen again for a while.
Ahhhh, now this is more like it. I apologize for fans of the “lesser known” Shelbys, but when the name Shelby is mentioned, THIS is what it means. I was lucky enough to actually get a ride in one of these, and I truly think it was the fastest car I ever rode in. Not that I made a habit of fast cars, but during the full throttle 1-2 shift, I swear the front wheels came off the ground. Puddle jumpers, like the GLHS, not so much. The authors 1/4 mile times/speed are a bit misleading. This car would do 14.3 at just a tick over 100 in the 1/4. 130 is the top speed. Traction was its biggest snafu, but I read, was considered more of a cruiser than for all out speed. As with most, this motor is highly under rated and more like over 400 hp, but it was almost against the law to say so. While the Cobra was his baby, I think it was these cars that cemented his name with cool cars the public could kind of afford.
Rest in peace, Mr. Shelby, I meant no disrespect, he will go down in history as the greatest car maker of all time. We can all agree on that.
Never have been in one, but I do like his Chili.
Steering wheel has a crack in the 6 o’clock position, it’s junk!
I would still TAKE it any day of the week and twice on Sunday cracked steering wheel and all!
Maybe one of the folks that run this site could explain the non-working, or part time “thumbs up” feature? Is this now a members only perk? Thanks!
I love this car, and would love to bid on it, but with an estimate of $150K-$200K, could they not at least straighten the passenger side driving light? Appearance is everything, and it makes me wonder what else was ignored……
In Chicago in 1974 I had a ’55 TBird for sale for $1,955 … a guy with a ’68 GT500 showed up and wanted to trade even … my wife said we didn’t need another Mustang, especially one from the South Side – he had added a fuzzy steering wheel cover, foam dice hanging from the mirror, and curb feelers … don’t bring your wife in on car trades …
I love this car, in particular it hasn’t been converted to an “Elanora”, and hopefully never will.
And a good write up Adam, you got some details I missed.
I don’t see an oil cooler. Were the Shelby’s 428 CJ’s and not SCJ engines? Or was the SCJ an option for the Shelby?
This is neither, it’s the 428 police interceptor engine.
Originality, numbers matching, untouched, and condition can all make a huge price difference in the selling price of limited production cars like this. I’ve seen these sell in the high $200,000’s and low $300,000’s. I’m not so sure without knowing more if this is a $200,000 example. Unfortunately these are moved into a price range that 99.9% of us will never afford or be able justify the cost to ourself. Collectors will definitely pay serious money for something they want when they have deep pockets. This was my dream car when I was a teenager. They were only a couple years old back when I started driving.
Thank you. Did the police interceptor engine have the cap screw rods?
Saw a bug on the passenger side wiper blade…so this isn’t Steve McQueens Bullet car that left the lonely MOPAR in its dust?
Must have been the additional weight of the big guy with the shotgun hanging out the passenger window of the poor MOPAR having such a terrible time gaining traction.
The shotgun wielding big guy is lucky that the door stayed closed on the MOPAR.
Have fun ya’all!
Ok, did my own research, only the SCJ had the LeMans cap screw rods. Police Interceptor 428’s did not. Seems to me that Carroll Shelby should of used the SCJ version in a car like this especially with his name on it.
Those were reserved for the KR version, I believe.
This car was built in December 1967 according to the auction listing and the 428CJ engine was not available until April of 1968. The 428SCJ engine was not available in any 1968 Ford product. The 428SCJ engine became available for the 1969 model year. To become a 428SCJ required the buyer to choose either the 3.91 or 4.30 rear axle. Not everyone wanted one of those ratios.