When it comes to rare and desirable vehicles, the name Shelby is near the top of the list. When you add the words “one owner” and “barn find”, you have a home run. This car is said to be just that: a one owner, barn find, 1967 Shelby GT350 Mustang. Offered for sale by Legendary Motorcar in Halton Hills, Ontario, Canada, the asking price is just shy of $70,000. Advertised here on Hemmings, the car is in amazing original condition.
The ad tells the story quite well. “The original owner had purchased the car to use it as daily transportation…driving this car to the Woodstock music festival and the Dearborn test track to meet Carroll Shelby. As the gas crisis in the early 70’s took place, the original owner had parked the car and bought a Volkswagen. The car sat in his barn for 27 years waiting to see daylight again.”
The ad continues: “This 1967 Shelby GT-350 was initially built 03/15/1967 and shipped to Larsen Ford in White Plains, New York. Nicely equipped with all the Shelby GT-350 modifications, it also came with many factory options such as the fold down rear seat, power steering, power front disc brakes, center headlights, tach and much more.”
The Shelby Mustang has a very distinct style of taillights, making the rear end unique and easily identifiable. Not sure why the bumper would be missing? Hopefully, that comes with the sale, but it isn’t a deal breaker if it doesn’t. The car is said to come fully documented with a Marti Report and Shelby Registry paperwork. The new owner should be proud to own this project. I wouldn’t be surprised if it crosses a high-end auction block in the next few years. Do you think the next time this car surfaces, it will be fully restored or as it sits now? What would you do with it?
Better cut that price in half.
If you hit a good bump it may break in half, depending on how it was parked!
In very good to excellent condition these have been selling for $113K at major auctions lately according to the SCM Guide. So that’s a baseline number tells us what people think of ’67 Shelby GT350s.
With all due respect doug, I think $35K for this car would be stealing it. Good if you can do it, but I don’t think that’s going to happen.
Since original unmolested collector cars tend to sell very well these days, and popular but seriously molested collector cars can see their value knocked down bigtime, I think an asking price of $69,900 is probably in the vicinity for this car.
I would not pay it, mind you, but someone who values unmolested original GT350s might, and probably will. That gives them the chance to restore it their way, and just as important, it lets them know that nobody tried to turn it into a rat rod 20 years ago.
Peter Klutt, who runs Legendary Motorcar near Toronto, Canada, knows his stuff. He has had a popular TV show about his cars and his business on the air, and he has a good reputation. I’m guessing that if he doesn’t get his asking price for this Shelby he’ll probably get pretty close.
I agree. But LMC wont sell anything like this at a reasonable price. They have all the good stuff. And do outstanding work.
Buy there are times when I just feel they place too much value on what could be rather than what is.
This one is too far into the future price wise. I’m like you. I’m in at half.
That kind of money id rather buy a new Corvette. The Corvette wouldnt need any work. It would be twice the fun then you could ever get out of this car. Just my opinion.
NOT! A new corvette (yawn) will never be a 67 shelby! Where is the fun of buying a new car?? Restoring this is the chance of a lifetime.
I’m with you Rob, restoring an old one, that you love, is just different then going out and buying a new auto. But being fair, not every body has the time or skill, or even the patients to restore an “old one”. Too bad, for those people, they probably will never “love” one as much as those of us who don’t mind getting our hands dirty and enjoy the immense pleasure of accomplishment. No, it isn’t all fun, but what a pleasure to see the the thing come together !!!
MH, I’m a Corvette guy and understand new cars depreciate. So your chance of maintaining or increasing value is with the Shelby. Having said that if you can’t do most of the work you better plan on $40-50K to restore this car correctly. Totally different propositions, I would love this car but do not plan to step up to the plate for this much TOTAL investment.
+by all means you should buy the curvette and leave the Shelby alone!!
LMC is a class outfit and very knowledgeable about what they are selling. Interesting place to visit.
Their tv show is quite educational. They come across as very knowledgeable about the market and straightforward about the fact that as dealers they have to make a fair profit.
I’d agree about buying a new Corvette, but 10 years later this car will probably be worth more. Can’t say that for the ‘Vette, unfortunately.
Yes the corvette will be worth less but the amount of fun you can have now would be unbeatable. With the mustang you spend 70K to buy it and have to put 250K into it. Then dont drive it and let it sit for another 30 years hoping to break even when you sell it. Thats no fun, but buying a Corvette now would be. Life is to short to sit around waiting for something to break even on.
I agree that LMC and its owner is a class act. But a GT350 automatic in tip top shape might break $100,000, but it will take this car the full $70,000 asking price on top of the asking price to get it there.
Nah. A well-restored ’67 GT350 is worth almost half again that much, even with the automatic. About $140-150K. $100K will only buy you daily-driver condition.
So, let’s see, $140K less $70k leaves about $70K for restoration. Which, not surprisingly, is why Legendary has priced it where they have. And I’m sure the price is a little negotiable, as well.
I’d agree it’s amazing: amazing what they’re trying to get for a car in that condition. Looking at the inside, you may need a hazmat suit. Sorry but Shelby or not, IMO it’s way over priced for what you’re looking at.
LMC is a class act. However ,once again it is not a one owner car. If LMC has the car on consignment,for the original owner,then yes one owner. If LMC bought the car to resell .then car has a second owner.
I always find these 1 owner arguments interesting. LMC is a dealer, so does that qualify as an “owner”? Just for arguments sake, when I buy a new car from a dealer am I the 2nd owner?
Good question. Does a dealer have the ability to buy a car, with the title signed by the original owner, and not register the title until it’s bought by the owner? Don’t know, but might explain your query.
Sitting idle for nearly 30 years? Obviously it wasn’t stored in the most ideal conditions. This beast will need a complete tear down mechanically, as well as structurally. At the current asking price, you’re already into it for more than you could buy one in better condition. Drop the price nearly in half, or take a pass. Not seeing $70k value here
If it was parked in the 70’s its been sitting closer to 45-50 years.
LMC is a class act but they are also a profit making organization. If they could restore it, and they have that capability, and come out ahead, they would do so. So this is the high yield in their minds. Thus unless you intend to do the work yourself and don’t count your time as a “cost”, this is too high a price to pay.
Very well said.
Additionally, I am a “fan” and understand the presentation of “as it was found in the barn” however, as an expert detailer, having been restoring cars for 35 years, I would be really interested in how well this one will detail and potentially be a survivor car vs: as restoration.
70K, negotiated to $50K-ish, detailed, go through the mechanicals & electrical, interior may need some restoration / replacement if “nasty” has set in….that could all make more sense.
Wish I had the money to go after this one. Might try harder if it were a 4 speed!
Wonder what shape that Volkswagen is in now…. You are not buying a car here, you are buying a memory.
That car would be worth buying for $50K then having it professionally restored (assuming the motor isn’t seized). It’s not worth $70K unless you “just gotta have it” or you are investing in future value.
In no way worth 70 K this one sold local here for that amount
Nothing personal but if the car in these photos sold for $70K ish…..either that price was between 1995 & 2000, someone did not know what they had, the car is a clone or there is something, or things, radically wrong with it.
One of those comments has to be true…… I have not seen a documented Shelby sell for less than 6 figures in the past 15 years UNLESS of course the owner did not know what they had…..which is more rare than a real Shelby!
Just too much to get it to a worthwhile state for that amount
Some in much better shape can be had for that amount
I would pass on this one and keep looking 30K tops as is
Automatic? Nah, yer alright…
First of all when I hear it is a one owner car, I expect to see a car that was well cared for. If not, it doesn’t matter that it is a one owner car.
Second of all, the tail lights are not distinct. You will find those tail lights on every 1967 and 1968 Cougar.
The 67-68 Cougar taillights were similar, but not the same; the taillights on the Cougar were convex, as opposed to those used on the Shelby, which were flat
Tail lights on 67 Shelbys were 67 cougar. Shelbys did not use the grill trim. Lenses are the same.
I think you are thinking of the ’69 and ’70 lenses.
The LMC website says its sold!
Big fan of their tv show.
LOL. Apparently they don’t read BF, and didn’t realize that it was vastly overpriced according to the common wisdom here. :)
To a millionaire or billionaire who’s into collecting and restoring old muscle cars like this, money is no object. Especially when it’s a rare car like this one is. I think most of you are missing the point. Is it over priced? Perhaps, but it’s overpriced to those of us who can’t afford to make this car what it should be. Yes some of you have said you can buy a new Corvette and drive it now without any work. Yawning. This car is a true diamond in the ruff, and whomever has the money to buy this and restore it will be one happy individual in the end. Auction or not, for me it would be a blast to bring this car back to life.
I couldn’t agree more with Jose. When an affluent collector is looking to add to his/her collection and wants to start with an original, the collector is not going to let $20,000 to $50,000 stand in the way. Unrestored originals are so rare that determining market value is extremely difficult. There’s ultra-rich collector value, there’s flipper value (below market), and then there’s market value somewhere between.
Not surprised at all that this sold and probably rather quickly.
Exactly LastCJ. I wish I could afford to be the one to have bought and restore it! lol
If this car is all original, and matching, and that’s what someone is looking for, the price is in line. Many guys would rather find a car like this then by a restored one, this way they know the car was done right. And most collector cars if you plan on keeping them, you aren’t balancing the books like an accountant.
That being said, Mustangs are fun, they used mine in a photo shoot for a clothing line today.
Buy the Corvette. Perhaps if you had one back in the day buy this. Agree with Mh and elrod, and ccrvtt comments about the value in 10 years. Not going to worry, I laugh every time I get into my 1972 Stingray. Till death do us part! Could be Thusday!
As stated well by jose.this car is for people that have a whole lot of money and don’t care about costs or getting the value out of it.but then so is a new vette.i still love to see these cars…while I drive my rusty 90 suburban and try to put food on the table..I’m happy for the guy that bought it..if I had enuff $ to buy just one car I’d probably drive myself nuts trying to decide anyway
I’m right there with ya. If I had the $70k + resto costs for this Shelby sitting in my bank .. I’d drive myself insane trying to decide which cars [plural!] to spend it on. Tho a Shelby wouldn’t be in the top 20 for me
As found pictures are fine and dandy, but if your looking for $70k out of an old rustang that’s lived in the Onterio rust belt I think the least you could do is wash it. By not cleaning it makes me think your hiding something, and how about some close ups of known rust areas. This would be a risky investment based on the fact that the boomer are dropping like flies, and the generational connection to these car will be gone. A lot can change in ten years as many of you have mentioned look how prewar car prices have dropped, even 50’s car prices are waining. I think that you’d have to be a fool to drop 70 large on this rust bucket. Half that seems ambitious to me. JMHO
Does it say that it is an Ontario car? Legendary is in Ontario, but they do buy cars from out of province and out of Canada, as well.
Where i live if the dealer sells it (not on commission) then its not a 1 owner car as the dealer owns it lol sadly all cars like this will be out of reach of normal folk … but at least its a classic saved n not crushed
At the end of the day folks, we all wish we had the success and fun LMC has on a daily basis.
I love Mustangs, Shelbys even more but I would agree that the price on this one is too rich. $50K I could see and I still couldn’t afford it. There’s a Shelby/Mustang dealer in Mass that has a driver quality 68′ GT 350 for $75K.
A few years back I was at a Mustang show in Rhode Island. Somebody had a 68′ Shelby barn find that he had fixed enough to get it running, driving, and stopping safely. That car got more attention than any other car at the show.
I guess my definition of “amazing original condition” is somewhat more stringent than this.
http://www.hotrod.com/articles/rare-1970-mercury-cougar-boss-eliminator-may-finest-unrestored-example-existence/
^THIS is what “amazing original condition” means to me. This car still had the original belts and battery with it, that the original owner had saved.
Not a muscle car, but I purchased a one owner barn find about three years ago… 1992 Jeep Cherokee Limited. 19,000 miles with original tires, battery and hoses. The vehicle was pristine partially because of the low mileage but also because it was always garaged. It still had the new car smell. Tires were in excellent condition with very little cracking, but I still replaced all the hoses, fluids, battery and tires.
….and the taillight lenses work on a Shelby Mustang! Mike you hit the nail on the head. “Original” and “one owner” mean to me that the car will have been maintained lovingly and only consumable items replaced when needed. No collisions, no unneeded upgrades, no cupholders or carpeted dashpad. This Cougar exemplifies that M.O. and expands it to include belts, battery, etc. When I see “original tires” I perk up. Not unusual to see cars at Concours riding on original tires with an owner who places the modern driving tires on after they leave the show field.
A Steal at $69900 you get all the One Owner Barn Find, Mold, Rust, and then it needs a Ground Up Restoration another $50-$60k if engine isn’t Seized. a Great find indeed but that’s it a Great Find that’s over priced in it’s present condition..
Why is such a premium put on single owner cars in need of restoration? The condition of it’s current state speaks volumes of how the “single owner” cared for the car. So much emphasis (by the sellers) is put on ownership history as an effective tool to inflate prices. You’re buying the car in it’s current condition at the time of sale. I’ve seen pristine cars with four prior owners. Try telling a re-seller, dealer, or flipper that the car I’m trading in has only had one owner, inevitably his reply will be “so what.”
No way would it go back stock….Carroll Shelby always said that cars are meant to be driven…not museum pieces! Fix it, upgrade it and drive it like the devil hisself has his teeth sunk into my hind parts!!
Amazing original condition? What would beat up, filthy, and rusty look like?
There is no way I could approach this car financially. But I am so glad that there are people to whom the cost is a secondary consideration. The second Generation GT-350 was a very nice car. I was fortunate to have had a friend who owned one back in the day. It was fast, civilized, and reliable. In my opinion, the Shelbys were what the Mustang should have been from day one. Obviously, Ford disagreed. I would love to see this car after its restored. But if I were dreaming, mine would have a clutch
That is a lot of money for a car needing that much work!
It would take 75 k minimally to put the Shelby in restored condition; more if you are going for pristine frame off style redo. And it is an automatic!
If I had that kind of coin, I would clean it up and drive the car, fixing what is needed to make it road worthy.
This is now a wealthy man’s game.
What would it sell for after paying 70K for the car and spending anther 70K+ to fix it. Just not worth that kind of money.
Legendary restores cars; why aren’t they restoring the car to sell?
if the owner took the car around a lot of course put big miles into it by the floor photo,in NY the snow salt thats a lot of wear and tear,and park the car because of the gas prices,he didn’t know what the price of the car would be in x amount of years,like many people didn’t and where he park it?.if for 27 years or so which would have been in around 2005,if park in 75,then who bought it at that time? I’m not saying is not real But.my opinion
My first inclination would be to go through it mechanically. Detail as much of the interior without something breaking or tearing because of age. Give her a good bath, then plan a few overdue cross country roads trips with her before doing a complete restoration. But at $30K for me.
I’d clean it up best I can. Fluid flush everything, tune it, brakes, tires and enjoy the hell out it, rust and all.
Only original once baby.
Pretty rare to find a unrestored early shelby! Someone else thought so too as is shows sold already! If you want to play you have to pay! I guess it wasn’t over priced to them. 25 years ago I bought my 67 GT500 basket case for 15K. Complete just needed to be restored. People thought I had lost my mind. Most told me it wasnt worth half that! Nice drivers were only 30K! I would never get my money back. I didn’t listen to those doomsayers and bought the car knowing anything shelby is in demand. Besides, I loved the car! I did all my own work, body, paint, mechanical. I think I put 15K in it back then. (Pretty stiff coin back then) Still enjoying it today! Reading all the posts above sounds like a broken record. “It’s too much! You’ll never get your money out of it….” let’s see how this turns out in 25 years. If I had the scratch I would own this right now.
Here is how it looked when I brought it home.
And today…
They gave $50,000, asking $70,000. Let’s see what happens, we can always come down. That is how it works. That is what I would do. That is what you would do if you found it. Why criticize?