Originality. When it comes to considering the ultimate value of any genuine classic car, this can be one factor that separates a good one from a great one. With that thought in mind, we probably need to take a closer look at this 1968 Shelby Mustang GT500 KR. It is a relatively rare beast that has performance to burn. This one is a tidy survivor, but it has received one significant change during its lifetime. It is reversible, so it will be interesting to see how our readers would approach it. The Shelby has been in hiding for a while, but the owner has revived it so that it can go to a new home. Located in Manahawkin, New Jersey, you will find this classic listed for sale here on eBay. Some frantic bidding has pushed the price to $90,301, but this remains short of the reserve. The owner has also set a BIN option of $145,000 for those wishing to avoid the rigors of the auction scene.

The owner states that the GT500 has been sitting for a while, but it isn’t clear whether this stretches to months, years, or decades. It has emerged from hiding and revealed itself to be a tidy survivor. Its Raven Black paint shines impressively, although it does carry a few minor marks. That brings us to the point where we need to consider the question of originality. The documentation that the owner includes in the sale verifies that this paint is not original. A previous owner applied the Black over the car’s original Wimbledon White. That will leave the buyer with a decision to make. Should they leave the Shelby untouched as a genuine barn find, or should they treat it to a cosmetic refresh in its original shade? I would choose the second option, but that doesn’t mean that I am necessarily right. Our Barn Finds readers represent a vast knowledge base, and some of you may be able to provide sound and valid reasons why the car should remain untouched. When we look beyond that vexing question, the rest of the car is brimming with good news. The panels are pretty straight for a survivor of this age, while all of the distinctive Shelby fiberglass additions are present and in good order. Delving below the surface reveals a classic that is rock solid and rust-free, while there are no significant issues with the trim or glass.

Lifting the hood reveals the powerplant that earned this GT500 its “King of the Road” tag. The 428 Cobra Jet V8 is a legendary motor, and this car retains its numbers-matching drivetrain. It includes a three-speed C6 automatic transmission, a 3.50 Traction-Lok rear end, power steering, and power front disc brakes. It isn’t unusual for manufacturers to quote fictitious power figures for their engines, but if Ford had been Pinocchio when they released the numbers for the GT500 KR, their nose would’ve been about a foot long! They stated that the Cobra Jet pumped out 335hp and 440 ft/lbs of torque. However, many knowledgeable individuals claimed the actual figure started with a four, and independent dyno testing has placed the output at closer to 425hp. Regardless of where the truth lies, this was a fast car when it was new, and it could still hold its head high today. If a driver pointed a GT500 KR at a ¼ mile, the journey would be over in 14.8 seconds. When the seller rolled this Shelby out of hiding, he performed enough work to return it to a roadworthy state. He treated the car to a new fuel tank and rebuilt the original carburetor. He also added a new fuel pump, starter, plugs, plug wires, and a few other minor parts. The car is now roadworthy, although the owner admits that the sweet V8 is suffering some blow-by. It isn’t clear whether this will improve with further use, whether it could be something as simple as valve seals, or whether the buyer might face a rebuild. Only time will tell on that score, although a compression test might be a good starting point for any diagnostic work.

The original owner ordered the Shelby with Deluxe Saddle vinyl trim, and it remains untouched and unrestored to this day. There is some minor wear in a couple of spots, but it is more than acceptable for a genuine survivor unless the buyer seeks a showroom fresh appearance. There are no rips or tears and no aftermarket additions. The Shelby rollbar and harness are intact, while the dash pad and faux-woodgrain, both items that are prone to deterioration, look perfect. The interior isn’t heavily loaded, but optional equipment includes a factory tach and trip meter, Sport Deck rear seat, an AM radio, and a tilt-away wheel.

I prefaced this article by raising the question of originality, and I will be interested in reading some of the feedback you might provide on that subject. The GT500 KR is a legendary muscle car, and this one is deserving of a six-figure BIN price. If you look at recent sales results and rising values, the potential is there for that figure to have a two at the front. Would you refresh the exterior to its original state to push the value into that territory, or would you retain the Shelby as-is? Over to you.