With such a strong pedigree, it’s easy to get excited about this 1969 Ford Mustang Shelby GT500 quickly, and with good reason. This one ticks nearly all of the right boxes, with a through-the-roof cool-factor level, but unfortunately, improper storage conditions have taken their toll on the metal. However, if you have the skills needed to restore this one, it could be a worthwhile and very rewarding project. Fifty-three bids have already taken the price up to $31,900, still shy of the reserve, so if you’re ready to up the ante the car can be found here on eBay. Head on over to Tanner’s Classic Fords in Carlisle, Pennsylvania, if you want to see this one in person before deciding how much you’re willing to invest here.
For 1969, the Shelby Mustang fun began with the GT350, which got buyers a 351 Windsor under the hood. However, choosing the GT500 resulted in 428 Cobra Jet engine power, with more positive news being that this is still the numbers-matching component here. The previous owner from whom the seller acquired the car said the engine ran as late as a couple of years ago, although the seller thinks it might be more like twenty, which sounds more realistic based on the gas tank condition. No recent attempt has been made to start the motor, with the seller believing it would be better to remove and give it a proper rebuild. Other than the smog pump, most of the parts are believed to still be present, and the close ratio 4-speed manual has also just been confirmed as the original part.
Being stored in a shed with a dirt floor for many years has not been kind to the body or undercarriage, with the driver’s quarter almost certainly requiring replacement. It’s possible the passenger quarter can be repaired, but there’s also a considerable amount of rust underneath the doors, so they’re going to need attention as well. With such a special Mustang here, I hope whoever ends up with this one invests in the replacement of all questionable panels, and ends up with a body as solid as when the car left Dearborn all those decades ago!
Fortunately, much of the inside area appears to have survived better than the exterior. While it’s not perfect, most of the interior components are still present, so hopefully, many of them will clean up adequately and be able to be retained. There’s no question this 1969 Ford Mustang Shelby GT500 is worth saving, but there’s a lot of work to be done before this one’s ready to tear up any more pavement. I’m curious how much our readers think this car is worth in its current condition, and any ideas of where the seller may have set his reserve?
I marvel at the fact I went to high school with a young man who drove one of these to school from time to time. His family owned a music venue in Williamsville, NY called the Glen Park Casino and were very wealthy. We lived in a dream world back then where even a war in SE Asia was something we saw Walter Cronkite talk about for a few minutes a night.
This Shelby is still worth a lot. All you need is time, a garage with a floor, and an inheritance
An absolute Dandy when it rolled off the Dealer’s lot optioned just the way a driver would want it.
I appreciate the seller’s many pictures and the thorough write-up (a pic of the document is in the picture file). Cool car, but plenty of work needed. I do hope someone spends the necessary big bucks to bring it back.
How sad, very sad!! A long ways to go for a Mecum Moment.
Don’t know what the reserve is but for a real GT-500 there is still a good bit of meat on the bone right now. Wouldn’t be surprised to see it get close to 50k.
I didn’t know you could order 1 of these with side stripes/decals delete.
With the significant rust and every other problerm, this car will require a full rotisserie restoration. The cost to restore this is more than 100% of the value of the car. I don’t understand why someone would pay 40K more than the restored value? Is it just the satisfaction of bringing one of these back to life?
Unusual color. Even with 129 made, I don’t recall ever seeing one
Median restored value of a 1969 GT500 is 134k. So you are assuming the restoration will be cost over 100k. The only way that is going to happen is if you drop this off at a shop and pay someone else to do everything. This car is for the person who can do a lot of the work themselves. It has a numbers matching drivetrain so it’s restored value should actually exceed the median average.
Properly done, there’s no way around the fact that this will be an expensive endeavor simply because it needs so much. This has to go the distance because of the rust. Yes, you’ll easily have $150k in this car but give it another 10 years and see what it’s worth!
Not much if it rusts up like this once again lol!
What a mess. Worth restoring if the selling price doesn’t get crazy.
I’ve seen imposters of these over the years, but in much better shape. A note to any potential buyers is: DO YOU HOME WORK, MAKE SURE THE DOCUMENTS ARE REAL! Otherwise all you have here is a parts car.
I shared this with my friend who loves these and the last time we talked I had shared this write up from Jeff from five years ago. At least there’s consistency in what I share.
https://barnfinds.com/1969-shelby-gt500-project/?fbclid=IwY2xjawJg3ppleHRuA2FlbQIxMAABHvWHtig_GalhecKO8rGbYLrD2Xq1r2tk6Jdh9-tAoFh4ut7Xm1JZ7LAFtP0O_aem_bNCUtDXtPuhMAnQtHtgEmA
What is that in the wheel well?
makes you wonder how somebody could let this happen. i bet the seller stole this and is trying to make killing on it
Well if you read the ad then I guess you could say that. It’s had one owner since 1969. So they paid 1969 prices.
When I saw the Remington xt 120 tires that took me back about 40 years! Our tire dealer OK tire store carried those back in the day.
In 1978 the Ford dealer in Didsbury Alberta brought out a new Shelby 350 and a Shelby 500 both red.He was going to sell them for their original price.After he had them on his showroom for 6 months.At 10 years old the cars had not gone crazy in price yet. The owners son was a friend of mine and I talked his dad into selling me the 350.I was 18, saved everything I could from working after school and all summer. Paid him the $3850 he wanted and I was saving for insurance. End of summer I got drunk at a party and rolled my Uncles 1967 Datsun pickup. I told my uncle I will buy him another one they were about $700 but no he wanted that one rebuilt at a cost of $4000 so get the money from the Shelby and pay for it. I never had an alcohol drink until I was 30 years old after that.Still don’t drink very often. Good lesson and my Uncle told that story when he MC’d my wedding
Air filter is good.
This car must have been sitting in mud or in a garage with a very damp floor.
I wonder if that’s the same sideways muffler as used on ’70-’74 GM F-bodes w/dual exhaust.
No rear swaybar on these?!
Interesting replacement fog lights – i guess the coveted originals were stolen.
The cops sure would not like that rear license plate! lol How did THAT happen!
Assuming the history narrative in the eBay add is legit (I’m going to choose to believe as it doesn’t really matter and is really irrelevant to anything about the car), I’m just trying to imagine the summer of 69 for the original gift recipient.
Dad buys 16 year old the gift of a lifetime in mid-February and come December it’s being swapped out with probably the most anti-Shelby available at the time.
I suspect the second gift from surgeon dad to (likely) knucklehead son was really the gift of (continued) life. Hopefully knucklehead son didn’t resent pops for too long and grew up to be a decent fellow with at least a few great stories to share.
Unless you have the love, skills, knowledge, tools and patience to do the majority of the restoration work, you’re better off purchasing one already done. That aside, I hope someone has what it takes to perform a proper restoration of this historic vehicle.
Interior looks like it just needs a cleaning & new carpet.
Is it easier/cheaper to replace the entire underside – or to buy a ’69 Mustang Dynacorn & transfer the front/rear fiberglass, drivetrain & interior to the new body?
Replace the underside. Common practice around my area. Almost no classic cars around here are immune to the road salt curse. Easier to do a dynocorn? Sure. But for originality fix the car right using as much original sheet metal as possible. Value would take a massive hit with a rebody.