Most enthusiasts view a long-term ownership history favorably when searching for a classic to park in their garage. Any car that has survived for decades under the care of one person has typically been treated respectfully. Such is the case with this 1968 Shelby Cobra GT500. It has been part of the same family since Day One and is an original survivor. The time has come for it to find a new home, so why not take a close look to decide whether it is the right classic for you?
I admire a seller who is candid when listing a classic for sale, which is the case with this GT500. They admit it requires TLC, with its original Highland Green paint showing its age. The deterioration is consistent across the exterior, making it a prime candidate for a light and faithful cosmetic restoration. However, there is another option that potential buyers might consider. The panels are free from significant defects, while the underside shots confirm that this Shelby is rock-solid. Therefore, preservation as a genuine survivor would be a valid option. The GT500 retains its original Shelby scoops, spoilers, and taillights that are in good order, with the same true of the wheels. The tinted glass is clear, and with what we have seen, it will be fascinating to gauge whether the majority of our readers would opt for restoration or preservation as the most appropriate path for the buyer to follow.
On the surface, it appeared that GT500 production numbers dropped in 1968 compared to the previous year. The 1967 model year saw 2,050 buyers take one home, with 1,140 buyers handing over their cash in 1968. However, those numbers only tell part of the story, because buyers could only order a GT500 in Fastback form in 1967. For 1968, a Convertible was added to the line-up, supplemented by the GT500KR in both body styles. Combine their production numbers and suddenly the GT500 total in all forms skyrockets to 2,793. This GT500 received a 428 Police Interceptor V8 churning out an impressive 360hp and 420 ft/lbs of torque. The owners teamed this with a three-speed automatic transmission that allowed the Shelby to cover the ¼-mile in 14.3 seconds. Given a long enough stretch of straight road, this classic should max out at 127mph. The seller confirms that this car is original, suggesting it is numbers-matching. Its odometer shows 106,000 miles, and potential buyers can consider it a turnkey classic that runs and drives extremely well.
The interior reveals one of the few changes to this GT500, with the factory radio making way for an aftermarket unit with rear-mounted box speakers. Otherwise, the car is as it left the factory. The vinyl seatcovers exhibit minor stretching, but if potential buyers consider this Shelby purely as a survivor, the lack of rips and physical damage makes it comfortably acceptable. The carpet has faded, and there is a small crack in the wheel. Otherwise, it has no serious needs or shortcomings. It retains the Shelby rollbar, harnesses, and gauges. The buyer also benefits from air conditioning and a Sport Deck rear seat.
The seller admits that this 1968 Shelby Cobra GT500 needs TLC, although its solid nature could allow the new owner to preserve it as a proud survivor. It is also ripe for restoration, and it is virtually guaranteed that it would command admiration in either form. The seller listed the GT500 here on eBay in Fairhaven, Massachusetts. They set their BIN at $119,000 with the option to make an offer. The listing is heading into the home straight, but do you think it will find a new home?
Absolutely beautiful car, with great heritage.
Those that know me, know I hate automatics.
But I could live with this car, as it’s a Shelby.
Now restore or preserve?
I’m going down the preservation path with this one.
There only original once.
Preserve. Not all cars need to be restored.
People complain about the cost of classic cars, the tens of thousands spent to restore a car doesn’t help overall affordability. All a restoration guarantees is that a car will likely sit in a garage only to be taken out for the occasional car show and cost of the restoration will be tacked on to any future sale price. There is nothing wrong with having/driving a car with signs of wear and tear regardless of the make and model. The most highly sought after classics were geared towards enthusiast, that were meant to be driven and more often than not were. They are the most likely to be restored and turned into garage and show queens, which is a bit ironic.
Steve R
1976. At the local Ford dealer. I’m looking for my first car. We pull in to look at some beater Gremlin on the lot, and there sits a ’69 Shelby GT500. Decent shape, lower miles. $4500. I say to Dad, “You should buy that for yourself, they’re pretty rare. He says, “What would I do with that old Mustang?” Oof! It’s good to see that some people knew these were special cars, and treated them right. On the other hand? A newer Shelby GT500 will eat this cars lunch, and make it do pushups, for way less money.
Exactly,my son’s 2014 Shelby GT 500 conv. is a 5.8 L with 662 hp stock from the factory.6 – speed with less than 8k miles
Keep an eye on all those mickey mouse CV joints(the dragstrip only Challenger avail a few yrs back had a solid rear axle – for a good reason).
Too bad it can’t hold 4 people.
Without the badges, i can’t tell it’s a Shelby.
Too bad Ford was too lazy & stubborn – should have used the wide tailights from the 2005 mustang concept.
Need i say more?
I would still choose this baby over the new ones any day of the week and twice on Sunday regardless how powerful the new ones are. These are some good looking machines and the ’67-68 are my favorites.
So I join the Army 1971 right out of high school, I go by the Fort Knox credit union on my way to the mess hall and there’s a green Shelby like this only a convertible with a for sale sign, I go in and asked the lady at the counter how much for the green mustang, and she says I think they want $2,800 for it, I didn’t buy it.
Those tail pipes look so small they remind me of ones on a vw!
The tailpipes are not correct. The stock chrome tips are much larger, so the exhaust system has most likely been worked on at some point.
Those tail pipes look so small they remind me of a vw!
This is amazing to see this unmolested. I bet it has that cool car smell from those loop carpets and the glue they used back then. I’d take care of any surface rust issues, if any and just drive it. The price is high but, I don’t see these ever going down ever.
Number of seats 5 ??
Yes, people were tougher back then. This car is only a few years removed from seatbelts becoming stand equipment and when padded dashes were optional.
Steve R
Steve R , Good comments! I think I would love this car and just make it as nice as possible ,without blowing it apart for some 100 PT. restoration ,that turns it into a piece of furniture,
I read an article once that said Hertz rent a car used to own some of these and rent them out to people who wanted to experience a Cobra.
The fact that this one is an automatic makes me wonder if it used to be a Hertz car.
The Hertz cars were only made in 1966.