Long-dormant ’67 Shelby GT500 Needs Just About Everything
Numbers-matching 1968 Shelby GT500 is worth a lot of money in any condition, but is this rusted-out hulk worth $70,000?
Call it optimism, call it ignorance, or call it the Barrett-Jackson Effect. It seems that everyone who owns a golden era muscle car thinks that their machine is worth its weight in gold — and we all know how heavy cars were back in those days. This Facebook Marketplace posting is a great example of that phenomenon. This 1968 Shelby GT500 is advertised by the seller as the barn find you’ve always wanted.
With an asking price of $70,000, no less.
According to the ad, the car has been with the same owner for the past 45 years. However, over 30 of those years have been spent sitting in a Kentucky barn, slowly rusting away. The seller readily admits that it will need a ton of work to ever be roadworthy again.
The good news is that the car is largely complete, and the seller advises that a lot of spares are included. The numbers-matching 428 Cobra Jet engine and C6 automatic transmission are still present, although neither one has had fluids circulate in a long time.
The Long Road Ahead
We understand as well as anyone that the economics of restoring a car don’t make financial sense. It will always be cheaper to buy a complete car. We also believe that every classic Mustang is worth saving — especially a Shelby GT500.
However, $70,000 is a steep price for what is, essentially, a title, a VIN, and a numbers-matching engine block. After sitting this long, the car will need everything.
A Vicious Cycle
Thankfully, reproduction parts are readily available for most components, including the complete unibody assembly. This car will likely see the road again, albeit in a “my Grandfather’s axe” sort of way.
In a few years, we’ll probably see this car cross the block at a high-profile collector car auction. The person who restored it will be lucky to break even, while folks at home will stare slack-jawed at the six-digit sum this numbers-matching car will undoubtedly bring.
Some of those folks will have old Mustangs in the garage and feel vindicated for their decision to hold onto their cars for so long. They’ll decide that now’s the time to sell, and the cycle will continue. Just how long will the insanity last?
Photos: Facebook Marketplace
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