1967 Shelby GT500 is an Awesome Throwback

Carroll's Creation

1967 was a special year for Ford and Carroll Shelby as the incredible GT500 saw its first year of production. By this point in time, Shelby had already accomplished some remarkable things in the automotive and racing worlds, but Carroll himself stated that the GT500 was "The first car that I am really proud of." The new GT500 was the big kid on the block and as a result outsold its GT350 sibling two to one. Today, the GT500 is desirable as ever with values still trending upwards, and this particular GT500 Fastback showed quite well at a recent auction.

Photo Courtesy of Mecum Auctions

Brought Back to Life

Shelby no. 01007 was 1 of 2,048 GT500s produced for the 1967 model year and documentation shows it was shipped to Summerfield Ford in McLeansboro, Illinois after assembly in Los Angeles, CA. As with most survivor Shelby cars, this GT500 has undergone a rotisserie restoration to bring the car back into the same showroom condition it left the factory in.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

Power Courtesy of Cobra Le-Mans

Regular big block Mustangs of the era were equipped with 390 cubic-inch V8s, but once Shelby took possession of them, they installed a modified version of  Ford's 428 police interceptor engine that was conservatively rated at 355 horsepower and 420 lb-ft of torque. This GT500 is equipped with its original numbers matching "Cobra Le-Mans" engine still fitted with dual Holley 600cfm carburetors and mated to its original 4-speed transmission.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

Fiberglass Features

The '67 Shelby Mustangs saw a significant restyling over the earlier cars that have proven to be highly sough-after, especially in fastback guise. In order to transform the look of the Mustang into the GT500, pieces such as the nose extension and hood with its functional hood-scoop were made out of lightweight fiberglass. As can be seen with this car, the distinctive grille with its dual 7" driving lights sit inboard of the extended nose panel to offer an aggressive look. Notably, the first two-thirds of the '67 GT500s produced used the inboard high-beams like this car has whereas the final third were equipped with the split outboard high-beams.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

Looks to Match Its Power

Body enhancements continued through to the rear of the car to further separate the GT500 from a traditional Mustang. Two pairs of scoops added flash to the pillars and quarter panels while a finned fiberglass decklid lid, now often referred to as a Gurney Flap, gives the rear of the car a race-inspired look. Unlike the standard Mustang with its three-bar taillights, the GT500 used a set of donor lights from the Mercury Cougar that nearly span the backside of the car.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

Cobra Cabin

This Shelby came with a Deluxe Mustang interior finished in black (the only other option at the time being parchment) and still sports its rollbar, shoulder harnesses, fold-down rear seats, and factory gauges including the under-dash Stewart Warner units. Ford also mandated that all cars be fitted with power steering and power brakes, which makes sense considering the car's performance capabilities.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

Shelby Snake Suspension

In addition to its other upgrades, Ford optioned the Shelby cars with their competition suspension package that was further refined by Shelby to include new progressive rate springs, shocks, and a larger front sway bar. The wheels fitted to this car are Kelsey-Hayes Magstar steel wheels measuring 15x7", which were a much more common wheel option compared to the standard steel wheel with covers.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

All The Right Pieces

The paint is said to have been resprayed in the original 'Nightmist Blue' color code with white center stripes and the correct GT500 rocker panel stripes. All emblems, including the grille badge, dash badge, fender badges, deck emblem, and gas cap featuring the Cobra insignia are correctly in place. With the Martini Report in hand (detailing original vehicle options) it's clear to see that no feature was missed in the restoration process, including the correct extra cooling package and courtesy light group.

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

A Factory Correct Gem

Overall, this GT500 restoration was spot on and gives us a true representation of what Shelby's top-dog Mustang was like as it left the factory some 50+ years ago. The valuation experts hit the nail on the head with their estimate for Shelby #01007 as the hammer price was a healthy $198,000 at the Mecum Indianapolis auction last month. The new owner purchased a car that clearly received a lot of love and attention to detail. Now let's hope it sees a fair share of time on the road instead of being cooped up in an indoor collection!

>>Join the conversation about this 1967 Shelby GT500 right here in The Mustang Source forum.

And, for information on maintenance and repairs for your Mustang, head on over to our How-Tos at MustangForums.com!