Parked In ’73: 1969 Shelby Mustang GT350

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Yikes! The Collins Brothers are at it again this time with what could sorta pass for a 1969 Shelby Mustang GT350. Lacking the cachet of earlier Shelby pony cars, the ’69 and its identical ’70 successor have come into their own in more recent times though they generally lag behind the ’65-’68 editions in the desirability department. That said, this “project version” has a $69,350 ask! It’s located in Wylie, Texas and is available, here on eBay. There is a make-an-offer option too.

Kevin Marti has worked his research magic and tells us that this Mustang is one of 2,366 total ’69 Shelby Mustangs and one of 824 smaller-motored GT350s. When I first spied his car, I was convinced that it was engineless, it has a stance like a 4X4, but nope, the matching number, 290 gross HP, 351 CI V8 is residing between the shock towers. It’s missing some stuff but there’s a pile-o-parts included so maybe some of what’s needed is buried among it all. A four-speed manual gearbox connects the engine to the nine-inch differential. The underside of this pony actually looks solid and it’s evident that some suspension components have been replaced.

The exterior is a bit shaky looking, I’d suggest that maybe the front clip has been replaced but the seller claims that all body panels are original. Anyway, it’s missing the roll pan, grill, lights, hood vents, etc. There’s a lot of obvious surface rust – and some of it has progressed into the invasive variety. In places, red paint is evident and the seller tells us that there was an attempt to refinish this Mustang away from its original Acapulco Blue hue but that attempt ceased back in ’73. This Shelby has supposedly been in storage since the planned respray but the storage must have been less than ideal considering the resulting visuals. Speaking of visuals, there are about 200 images included in the listing – everything is exposed and it’s worth a gander. Finally, note the Shelby wheels – probably expensive pieces to source these days.

Inside is a real mixed bag. The carpet is missing, which is a good thing as the rusty floors are exposed. That said, they don’t appear to be rusted through. The dash pad is OK but the door panels have undergone some ugly speaker surgery – typical for cars of this era.  The black vinyl upholstery is fair – it could use a good cleaning and what surfaces from that undertaking may present as still passable. The shift knob is missing and the radio/HVAC control head looks like it went a few rounds with Boom Boom Mancini. Finally, the trunk floor and the underhanging fuel tank are missing – rust and gelled gasoline are the likely culprits.

It is suggested, “What you see is what you get. Clear title and rare opportunity to own a 1 of 1 Shelby GT350 numbers matching car which is a great basis for restoration“. Something to consider here is the total investment needed. If you assume this car can be bought in the low to mid $60s it will take that again, and probably more, to return this Ford to its former glory. As stated earlier, this vintage Shelby Mustang has been ascendant in value but it still trails behind earlier versions. But, if you’re interested in preserving an important piece of Automotive Americana, and you have the pocket depth, then just throw caution to the wind and go for it, right?

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  1. Senap SenapMember


    Like 9
  2. shelbyGT500Member

    [ Stored since 1973 ]
    Please tell me where was it stored ,so dont go near by .

    Like 14
  3. bobhess bobhessMember

    Ton of pictures on the Ebay ad. Just scroll down from the basic ad. Looks solid, set up for drag racing but nothing that can’t be fixed with shorter coilovers. All the documentation is a good thing also.

    Like 7
    • bobhess bobhessMember

      Price is not a good thing…..

      Like 12
    • TBall

      Bob – not sure I’m following on the “looks solid”. For a Texas car, this has a TON of rust, much of which was surface that was allowed to grow and eat all the way through. Car led a rough life as a drag racer – the rough part followed it into retirement apparently. One would be upside down in it half way through restoration.

      Like 3
  4. dsMember

    Looks like this has been sitting outside without windows for years – there’s rust on every piece of chrome in cabin! These cars in solid, running condition haven’t been going for too much more than they’re asking – definitely reaching on the price! Oh well – you can ask…

    Like 14
    • Maggy

      Condensation will do that as I’m sure this car seeps water in like a sieve.

      Like 5
  5. Cisco

    I had a 69 Shelby’s GT 500 back in 1977/78 and it was a super fun car and it’s my favorite year for Shelby’s, I’d love to buy this one but not for any where near that kind of money, all the work this one needs after their restored they don’t go for much more than the asking price, but this one does have all the right stuff, color, 4spd, other than the motor of course, I guess we’ll see how long it takes to sell,,

    Like 3
  6. Maggy

    I’m not a Ford or kno king these cars but 70k for this? Pffft. You’ll need another 100k plus to restore it.20 k tops imo.Keep it a drag car which what it looks like what it was set up for.

    Like 10
    • Maggy

      Ford guy I meant.

      Like 5
  7. Big Bear 🇺🇸

    I am sorry.. near $70,000 for this mess. I don’t understand where people get these numbers. I know its a Shelby I knew people who had this year. Getting parts is going to cost big bucks. When the dust settles and you have a beautiful Shelby it cost $200,000 .. I rather spend $125,000 on a complete car that’s drives and no hassle rebuilding. Good luck!! 🐻🇺🇸

    Like 12
  8. Midway

    My enthusiasm to restore this died at 25K. Labor is $70 per hr. Think about that

    Like 6
    • 6T09A

      Labor at $70/hour? Where?
      You’d be lucky to find anyone who can properly restore this for less than $100/hour.
      The price to restore this is likely $90-110 plus the 69k you paid for the car. Go find a “done” big block for the money.

      Like 7
  9. Big C

    Take that $70,000 and buy a nearly new Mustang Shelby GT 500. Push start, put it in gear, and go enjoy.

    Like 9
    • Big Bear 🇺🇸

      Big C that was a great comment. Never thought of that. And get 600hp and a stick!! 😂

      Like 2
  10. Howie

    How can anybody let this happen!! Body parts will be hard to find. Crazy price.

    Like 4
  11. NovaTom

    That eBay add had to cost a thousand bucks!

    Like 3
    • Mike

      Which Mustang was verified by Kevin Marti? The red one (that gave up the front fenders), the dark blue one (which is most of the car) or the sky blue or grabber blue? one (that supplied the firewall area)?

      Like 7
  12. Lon kearl

    One just sold for 120grand 351 4sd this car been sitting for 50 years classic case of owner wants more than what it’s worth I would pass on this one to have it restored where I live body shop labor 150 hr plus parts misc i would rather have the 428 4sd most post i read owners want more than what there
    Worth back in the day 2grand for almost any muscle car

    Like 2

    OK all you Stang owners, take note of this one. Beauty is in the eye of the beholder. I would take this car over a plastic fantastic any day, because Mustan’s value is increasing at a much quicker rate, a Vette’s value leveled off years ago, while Mustangs keep going up.

    Like 1
    • dsMember

      To be fair – Vette’s have been on the rise since 2022 – C3’s are now closing in on what C2 prices were. Certain Stang’s are still on the rise, but you can still find a finished #3 GT350s for under $100k. If you want to pay $69k, and then double that + to fix, you might see a ROI. This would likely never be a #1 car due to the condition it’s in, and all the replacing you’d have to do.

      Like 3
      • David Winkler

        I believe they located this car in North Jersey which explains the rust.

        Like 1
  14. david r

    stored in 73? That’s like storing a 2019 car today, practically brand new. Right.

    Like 3
  15. DA

    Somebody else can have this “good deal”.

    Like 1
  16. Joe Bru

    The asking price would be more appropriate for a Convertible or a GT500 fastback.

    Like 1
  17. dfayette

    I could restore this car pretty easily, on my own hours and not pay the $100+/hr at near 1000 hours to do it correctly. Still the parts are going to cost a lot of money just because it’s a Shelby. So, about $40k in parts, a few thousand in body work and $10k in paint and you are at market value. I restore Mustangs and am drawn to the ad. Be a nice car to own, but I’m with all of you, not at that price. Someone else can, and likely will, pay it.

    Like 4
    • dfayette

      Oh, forgot, but that’s not a Cleveland. Looks more like 428.

      Like 0
  18. PRA4SNW

    Look, another Dennis Collins Holy Grail (trademarked).
    Oh boy!

    Like 2
  19. JoeNYWF64

    Where i live in a very congested area in the rustbelt, no bodyshop(& there are a LOT of them by me) wants to work on a ’60s car – even to just hang a new door!

    Might it be cheaper(or even possible) to make a ’69 shelby out of this? –>

    Like 0
  20. 1969 Owner

    Isn’t a Texas car, they pulled it out of New Jersey!

    Like 0

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