One Owner! 1968 Shelby Mustang 428 GT500

Here’s a rarity, a 1968 Shelby Mustang GT500 that is as original as it gets and has had only one owner (not the current seller). It’s a study in originality and how to preserve a significant car for over a half-century. The mileage appears to be 106K miles but usage and time have not dulled this car’s appearance or appeal. This Highland Green fastback is located in Austin, Texas and it’s available, here on eBay for a current bid of $80,028 with the reserve not yet met.

We’ve covered the history of this vintage Shelby Mustang many times before so I won’t belabor you with a recitation of that story. This car has not been restored, per se, though the seller mentions that it was repainted in its original shade in the early 2000s. Assume the paint is at least twenty years old and it still presents well though there is some sign of fade and loss of depth/luster. There’s no obvious corrosion or body damage, just a smattering of minor nicks and scratches. I imagine the side stripes were redone when the car was repainted as they still show perfectly. Not often seen are the “mag-type” wheel covers, maybe not as popular as the Shelby ten spokes, but again, a nice nod to originality.

Being a GT 500 means a 428 CI V8 engine and I believe that this powerplant is the 360 gross HP “Police Interceptor” version as opposed to the 335 HP “Cobra-Jet” variant, known as the “King of the Road” and utilized in the later part of the ’68 model year. Not stated is how this GT500, with its automatic transmission, performs but here’s a start-up and driving video for your review.

The interior is much like the exterior, it has a very original vibe and shows no sign of alterations or restoration (other than the installation of an aftermarket radio/cassette player). The upholstery checks out, the original Stewart Warner console-mounted gauges are still presentable, and the shoulder harnesses are still suspended from the Shelby-specific rollbar. The only real flaw that I can find is a crack in the steering wheel at the 12 o’clock position. This is a factory A/C-equipped car but it’s not said if the system is functional.

The ’68 edition of the Shelby Mustang has always been my favorite even though it marks the end of Carroll Shelby’s involvement with the conversion and outfitting of a Mustang fastback. I clearly remember the first time that I spied a ’69 model and thought what a letdown, the ’68 had made that much of an indelible impression on my young mind.

Here we see what are ostensibly, the original owners of this car. Seeing images like this makes me wonder what the thought process was so many years ago that led this couple to this car’s selection, as opposed to choosing a regular Mustang GT or something from a competitor – of which there were several in ’68. With an MSRP of $5212.28, this wasn’t exactly performance on a budget but it was an impressive piece of not exactly off-the-shelf American performance motoring and thus the price. If you have watched the big TV auctions, you know what it will likely take to move this Shelby to a new owner. Want to hazard a guess on its reserve?