Classic Shelby Mustangs have never been cheap, especially when there’s a big-block V8 under the hood and a four-speed manual between the seats. One 1968 GT500 Fastback has just reminded collectors how expensive that combination can get.
This Candyapple Red beauty crossed the block at Mecum’s Dallas/Fort Worth auction on October 24, selling for an impressive $297,000. That’s serious money for a 58-year-old Mustang, although this particular car has a few things going for it.
For starters, it’s a genuine Shelby GT500, identified as Shelby number 00800. It also comes with an Elite Marti Report and a documented history in the Shelby Registry, exactly the kind of paperwork collectors want to see.
Then there’s the specification. Only 92 four-speed GT500 Fastbacks were built in Candyapple Red for 1968, making this example a fairly uncommon sight even among vintage Shelbys.
A Big-Block V8 And A Proper Manual Gearbox
Under the hood sits Ford’s 428-cubic-inch Police Interceptor V8. Factory-rated at 360 horsepower and 420 lb-ft of torque, the 7-liter unit sends power to the rear wheels through a four-speed manual transmission and a 3.50 rear axle.
It’s worth noting that this isn’t the later GT500KR’s 428 Cobra Jet engine. The Police Interceptor-powered GT500 arrived earlier in the model year, before Shelby introduced the more powerful KR.
There’s plenty of classic Shelby character here, too, including finned Cobra valve covers, a matching air cleaner, and distinctive 10-spoke wheels. With those classic Shelby details, it’s easy to see why collectors still get excited about these cars.
Surprisingly Well Equipped For A Muscle Car
Despite its performance credentials, this GT500 wasn’t ordered as a stripped-out weekend toy. It came with factory air conditioning, power steering, power brakes, and an Extra Cooling Package.
The Saddle-colored interior adds another interesting touch against the bright red exterior. Other features include a Swing-Away steering column, shoulder harnesses, and a Sport Deck folding rear seat.
According to the auction listing, the car was originally sold through Levittown Motors in New York. Its odometer displayed 80,179 miles when it crossed the auction block, although that figure shouldn’t be treated as verified lifetime mileage.
Nearly $300,000 For A Piece Of Shelby History
Spending nearly $300,000 on a 58-year-old Mustang might sound outrageous, but this isn’t an ordinary Mustang. With its Candyapple Red paint, big-block V8, and four-speed manual, it’s the kind of Shelby that would be hard to walk past at a car show.
Hopefully, the new owner plans to drive it occasionally rather than keep it hidden away. A 428 Police Interceptor V8 deserves to be heard.