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Original Cobra Jet: 1969 Shelby GT500 Convertible

By 1969, the Mustang had begun its trend of becoming larger and heavier. However, that didn’t stop the Shelby versions offering respectable performance levels, along with greater comfort levels than had been previously available. This 1969 GT500 Convertible is a perfect example of this, and it is beautifully preserved. The owner has decided to part with the Convertible, so he has listed it for sale here on eBay. It is located in Park Ridge, New Jersey, and bidding has reached $105,000. The reserve hasn’t been met, but 75 people are currently watching the listing.

It is hard to know where to start with this GT500. It isn’t clear whether the vehicle is an original survivor or whether it has undergone some form of restoration in the past. The Gulfstream Aqua paint shines beautifully, and there are no visible signs of marks, chips, or scratches. The panels are laser straight, and the gaps are consistent across the vehicle. The Shelby is always kept in a heated garage, and that would tend to indicate that there are no rust issues for the buyer to contend with. The owner does describe the overall condition as excellent, and it is hard to argue that point. We don’t get a look at the convertible top, but if the rest of the exterior provides any clues, then its condition should be excellent. The trim and chrome appear to be in good condition, and I can’t spot any glass flaws.

The spotlessly clean presentation continues when we look under the hood of the Shelby. What we find is the numbers-matching 428ci Cobra Jet V8, which was rated at 335hp. This power finds its way to a Traction-Lok rear end via  C6 automatic transmission. Power steering and power front disc brakes are also present as standard features. By 1969, the Mustang had started the trend towards becoming larger and heavier than its predecessors, and the GT500 was no exception. The GT500 Convertible tipped the scales at 3,939lbs, but it could still gallop through the ¼ mile in a flat 15 seconds. The owner provides no information on how well the vehicle runs or drives, but it appearance counts for anything, then the news should be good. It is nice to see an engine that looks this clean but that hasn’t been doused with gallons of detailing spray. This owner seems to know how to present a vehicle to make it as appealing as possible.

One area that had the potential to show this Shelby’s age is the interior. White upholstery has the ability to show a multitude of sins. It also tends to become discolored and yellowed with age. None of these problems have afflicted this car, with the interior presenting just as nicely as the rest of the vehicle. There are no signs of any rips or tears in the upholstery and no dirty marks or stains. The dash appears to be perfect, as is the rest of the plastic, the carpet, and the remaining upholstered surfaces. Life is made comfortable on the road with the inclusion of air conditioning, while I believe that a retro-style stereo might have been fitted in place of the original radio.

For the autograph hunters out there, the GT500 does come with a small bonus. To find a car like this that has been autographed by the great Caroll Shelby is a wonderful touch. It is debatable whether it adds anything to the vehicle’s ultimate value, but does add something indefinable to its character.

This 1969 GT500 Convertible is a stunning survivor, and it is a relatively rare car. There were 3,150 examples of the GT500 produced in 1969, but a mere 335 were the Convertible variant. The inherent desirability of anything from this era that wears the Shelby badge is going to guarantee that it will attract both interest and a high sale price. Factor in the Convertible rarity, and suddenly it becomes easy to see why the bidding has reached its current level. Does anyone want to guess how much higher it will go? More importantly, do we have any readers who might consider joining the bidding party?


  1. Avatar photo Bob_in_TN Member

    Stunning Shelby, in one of my favorite colors, beautifully offset by the white top and interior. I actually prefer the less rough and edgy, more “comfortable” later Shelbys. I also wonder where the price will land.

    Like 7
  2. Avatar photo Jon

    Back in 1974 I was selling one of my ’55 TBirds … a Mexican guy came by the house and offered to trade his GT500 (not a convertible though) for the TBird … it had a purple fur-covered steering wheel and fuzzy dice hanging from the rear view mirror … I liked the car but my (now-ex)wife said she didn’t want an “effing” Mustang … back in those days we traded cars like shoes … it was sorta like my dad saying he and his friends would buy a Model A for next to nothing and if it broke down they’d just roll it in the ditch and buy another one … sure wish I had some of those ditch cars or some of those that “got away” … little did we know …

    Like 7
  3. Avatar photo mainlymuscle

    I’m primarily a GM guy ,but have had Shelby’s and an Eleanor.All 3 generations have a great look ,and massive fan base,and thus are one of the easiest cars to sell.We are building a 65 GT 350 restomod now,and think the proportions of a first gen fastback are bang on .Having said that,this right here is the “eyeball champ ” ; it simply does not get better than a Gulfstream Aqua over white 69/70 Shelby.The bidding reflects that .

    Like 10
  4. Avatar photo Troy s

    Rare and highly valuable, a car destined to become a museum like showpiece.
    New, I suppose it was for the young man who liked to fly first class. Plenty of cars could have left it in the weeds that year especially, but she’s no drag racer. $$$$$$!

    Like 4
  5. Avatar photo A.J.

    Market is pretty clear on these. Somewhere between 125k-140k is about where it should sell.

    Like 5
  6. Avatar photo JimmyJ

    I think its harder to find a glove box door that ISN’T signed by shelby
    Sweet car tho!

    Like 12
  7. Avatar photo JoeNYWF64

    With that motor, this car should be in the 14’s, unless the 15 sec car above had lazy highway gears? Weren’t some big cobra jet mach 1’s even in the 13s?

    Like 3
  8. Avatar photo Paul McGuirk

    Not another automatic.

    Like 2
  9. Avatar photo Bill McCoskey Member

    Ahhhh, a muscle car that combines both of my “must haves” in a muscle car; the biggest engine, ‘for when you mean business, and factory A/C, when you don’t.

    Like 4
  10. Avatar photo Steve Bush Member

    Very nice car but doubt I’d spend $100k plus on this even if I had the money. It’s being sold by a dealer, JMG Motorcar LLC in Park Ridge, NJ, so there should have been maybe 100 or so pics, not 15.

    Like 1
    • Avatar photo Will Nugent

      Exactly my thought also. And pics with the clothes-line in the background? Really?

      Like 0
  11. Avatar photo Jcs

    Wow, absolutely gorgeous!!

    A/C to boot. I’d say that if the bids are real it is probably a good indicator that some eyeballs have actually set on the car either currently or in the past and that it is most probably a known example with few secrets.

    Very drool worthy.

    Like 2
  12. Avatar photo Dennis Zozula

    I looked at one of these in a showroom. They certainly didn’t want these to speak for themselves. Count the number of cobra emblems it’s silly. Other than that a neat car.

    Like 0
    • Avatar photo JoeNYWF64

      I counted 7 & there isn’t even one on the back end! lol

      Like 0
  13. Avatar photo Frank Sumatra

    What I always find amazing about these cars is that in 1970 a high school acquaintance drove one of these. His dad owned a very popular nightclub (The Glen Park Casino) in Williamsville, NY, a suburb of Buffalo.What a country!

    Like 0

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