Price for 68 Shelby GT 500 "KR" Mustang?

Dougster · #1 (**permalink**) 03-12-2004, 02:49 PM

Hey gang,
I wanted to ask for a friend selling his 68 Shelby GT 500 KR Mustang what a good realistic price should be?

This is a 20 time award show winner, some might know it as the Bronze Shelby GT 500 KR that is in Car source web site.
Its been signed on the dash by Carroll Shelby and registered twice...
He even has found the orig. engine in Texas and is getting it put back in. Near like new in & out!

I know these cars are going up by the day in value it seems.
Any imput is great!
Thanks much!

ERA569 · #2 (**permalink**) 03-12-2004, 03:21 PM

Hi Dougster

Barret Jackson had a couple of Mustang Shelby 500's including KR's this year.

The lowest was around $58K for a car that needed TLC to a 500 that was show quality with a shelby aluminum block 427 for $208,000.

All it takes is someone WHO really wants it, as with the $280k car.

2 or 3 years ago I saw a Black Shelby CSX 427 retra fit to S/C spec's go for $380K on Barret Jackson. When my wife saw that she did not complain about the $$ I have put in my ERA.

I bet the color of this mustang will help. Looks great.

Scott

http://www.barrett-jackson.com

Dougster · #3 (**permalink**) 03-12-2004, 03:32 PM

Thanks Scott,
I did hear of some great prices being pulled in at Barret Jackson...
He seems to think $70,000 is a very good value...So far from everything else I have heard it really does seem so!
Thanks again & have a great weekend!
Doug

mrmustang · #4 (**permalink**) 03-12-2004, 05:28 PM

Knowing that the car is missing it's original drivetrain (at least the engine), I would place a value of around $55,000-$65,000 on the car. Now, if the car was a concourse original, that would be a whole other story.

Bill S.

Dougster · #5 (**permalink**) 03-12-2004, 05:56 PM

Thanks for the input!
Yes, thats why he researched and found the orig. engine. It was down in Texas...He is getting her put back in.
Thanks again & have a great weekend!
Doug

Keith Lyles · #6 (**permalink**) 03-12-2004, 09:36 PM

Unless it has all the smog, E-70 15's and detailed to the max, anything over 60k will be a reach.

TERRY M KRYSTOFIAK · #7 (**permalink**) 03-12-2004, 10:47 PM

FIRST OFF THE $280,000 SHELBY WAS A '67 GT500 AND WAS NOT RESTORED, WRONG ENGINE, AND AUTOMATIC. A RECORD PRICE BY ALMOST DOUBLE. MONEY WAS NOT A PROBLEM, AS HE WAS THE FOUNDER OF GATEWAY COMPUTERS. '68, '69'&70 SHELBYS WERE PRODUCED BY FORD, '65,,66,&'67'S IN LA BY SHELBY AMERICAN. A GOLD MELDALON (SP) CONVERTABLE BRINGS ABOUT $70,000 IN TODAYS MARKET, AND A FASTBACK ABOUT $45,000. CHECK OUT HEMMINGS FOR A BETTER IDEA.

mrmustang · #8 (**permalink**) 03-13-2004, 04:40 AM

Doug,

Even with the original drivetrain installed, (I did factor this in), it will not reach past 65K at best, not even in todays hot market. The car is widely known, and so is it's history. The fact that it has been modified to one owners particluar tastes is it's set back.....To strip it down and repaint it, along with finding all of the correct concourse parts, and then have it proffesionally detailed to concourse specs is unreasonable, and will cost the current owner far more than $65,000 to accomplish..............As far as finding the original motor, and placing it back in the car, ask your buddy just how many sleaves he had to put in to the short block to fix the holes in it (unless of course someone stamped the block and is selling it to him as the original)............If he looks at your funny, then he really does not have the original block to this car.............

Bill S.

Dougster · #9 (**permalink**) 03-13-2004, 05:39 AM

Thanks again guys!
Bill...Really? I know he is banking on getting it rebuilt, but I don't think he has "seen it" yet...
He was buying it and having it sent up to Indy Indiana...
Thanks for that info, not sure he knows it, but I will run it by him.
Have a good weekend!
Doug

Tout · #10 (**permalink**) 03-13-2004, 06:28 AM

Doug

There are some pictures in my gallary of my 68 KR , this car is about complete as you can find and is an original 4sp car with air, all numbers match and is considered a 9.5 on a scale of 10. I have a lot of people that take pictures and use it as a reference when they restore their cars, in the past I have been offered over 100K for the car . The one thing about 68,thru70 Shelby's,they are the hardest to restore, a lot more special parts,compared to 65 thru 67,so a complete car will always bring top dollar. You can email me if you want , I have been around [JET CARS} for over 28 years,and can tell you the things that should be on a KR.
Tout

Dougster · #11 (**permalink**) 03-13-2004, 07:22 AM

Wow Tout!
She is a BEAUTY!
I think that price you were offered sounds realistic for a complete car like yours.
Congrats!

I think the only thing that isn't complete on this car is the intake & some assorted pluming...It had a Monte Carlo bar put on to improve its front strength,
The exhaust manifold was removed when Headers were put on and it also had ladder bars added, as it has a racing history...

I love learning about these great American classic's, so yes any info provided is always welcome!
Thank you.
Doug

Turk · #12 (**permalink**) 03-13-2004, 08:14 AM

That car is a good investment with or without the original engine.
What can you buy it for, will it ever be worth less?

If you listen to the "experts" you won't buy the car and in a few years you will post here again talking about the same car and what you could have bought it for in 2004.

If you can't immediately take it to the auction and turn a profit it does not mean you paid too much.
It just means you took it to the wrong auction, and too soon.

TURK
Another Expert.

Dougster · #13 (**permalink**) 03-13-2004, 08:21 AM

Good points,
The market seems to being going UP, UP & UP...Doesn't mean it always will of course, but it seems a much better investment then the stock market!

Tout · #14 (**permalink**) 03-13-2004, 08:38 AM

Doug, thanks for the comments , I've seen more than a few professionaly modified cars sell for more than cars that were complete and correct, it really depends on who did the work and how well it turned out,or if there is a buyer that must have it ,no matter what it cost, look at the 67 GT500 and all the resto mods at BJ this year. Now is a good time to cash in, if thats what you want,some great prices have been set and money to some is flowing .
Tout

Keith Lyles · #15 (**permalink**) 03-14-2004, 05:22 PM

Wasn't at BJ but have to agree that the market is hot. Anytime rust buckets and clones fetch stupid money on Ebay, anything legit and drivable is a premium. I have a KR and a 67 GT-350 and have seriously considered getting out while this market is hot. A new SPF GT-40 sounds pretty good. Anybody in the market for a retired 3 time MCA Gold Trailered Champion.

Dsprint2000 · #16 (**permalink**) 03-15-2004, 09:51 AM

I find it hard to believe that the dude that bought that Lincoln Zephyr at BJ for $400,000+ will be able to recoup that investement.....

David

RedCSX1 · #17 (**permalink**) 03-15-2004, 11:34 AM

Although the 68 has a similar body style to the 67, they are some distinct differences that make them miles apart in value. Just sold my 67 in September on e-Bay. See my gallery for pictures. People are taken with the look of the 67 and the movie certainly helped bring the price up. Don't think you can even compare the 68 as far as value to the 67. The 68 is now way down the list of Shelby's to own. Color is also another major issue. Most people want either Red, Blue, White or Black. Ginger Brown is going to be harder to sell. I would put value at 45-55K.

Morgan

southernfriedcj · #18 (**permalink**) 03-15-2004, 03:47 PM

Quote:

Originally posted by RedCSX1

I would put value at 45-55K.

Morgan

I'll take it!

bigmatt · #19 (**permalink**) 04-01-2004, 11:23 AM

hey dude thats an awesome car but i dont have any clue what price it should be.....but if i chose the price that i would buy it for it would be FREE.....just joking idk id have to look at it first

Ron61 · #20 (**permalink**) 04-01-2004, 12:19 PM

CJ,

Before you buy it find out if it has knock offs and if the wheels will come off.

Ron