At Barn Finds, we are all about finding desirable classics hidden in barns and sheds, but those unearthed in basements are less common. We’ve seen a few, but this 1969 Ford Shelby Mustang GT500 is among the best. It is a largely unmolested survivor that spent forty years in hiding, and the Marti Report confirms it is a rare beast. The Shelby recently emerged into the light of day and needs a new home to settle an estate. It is listed here on Craigslist in Buford, Georgia. The seller’s price of $175,000 is eye-watering, but this car’s originality and rarity should justify that figure. We always appreciate input from our readers, so I must say a big thank you to Barn Finder T.J. for spotting this amazing classic.

The 1969 GT500 remained available in Fastback and Convertible form, with the drop-top the rarest by a fair margin. The Marti Report confirms that of the Fastback variants, this is 1-of-18 ordered in Grabber Green by its original owner. Someone added period-correct pinstripes, but it appears to be otherwise unmolested. This survivor isn’t perfect because a close inspection reveals chips and marks. However, most readers will agree such imperfections are acceptable in any survivor-grade vehicle. I’m unsure whether removing the aftermarket pinstripes will reveal paint fading, so lifting one edge to investigate would be wise before removing the lot and spoiling this car’s appearance. The storage environment was almost perfect because this Mustang is impressively preserved. There is no paint fading, and the dry and warm basement ensured it remains rust-free. The trim and tinted glass are exceptional for a vehicle of this vintage, and the wheels are flawless.

I’ve reviewed classics in the past and commented on White vinyl trim, stating that such a choice is brave. It was the one made by this Shelby’s first owner, and it carries a few marks that help explain why it isn’t always the best option. However, I don’t believe the seller detailed the interior before the listing, and a professional approach might remove most of the problems. I hope so because there is no wear or signs of developing splits or rips. The dash and pad are spotless, and the faux woodgrain is equally impressive. It seems free from aftermarket additions, and the Marti Report confirms the paint, trim, and tilt-away wheel contribute to this car’s unique status.

When we lift its hood, this Ford continues scoring home runs. The engine bay contains the mouth-watering 428 Cobra Jet V8. The rest of the drivetrain includes a four-speed close-ratio manual transmission, a Traction-Lok rear end, and power assistance for the steering and front disc brakes. With 335hp and 440 ft/lbs of torque on tap, the GT500 was a genuinely fast car. It could scorch the ¼-mile in 14.8 seconds. Let it off the leash, and it will nudge 124mph. The positive vibes set by the rest of this classic continue with news that it is a numbers-matching survivor. The seller revived it after its hibernation, and it runs and drives extremely well. There are a few points to ponder. The limited usage means the odometer shows 26,344 original miles, and the seller indicates it sits on its original Goodyear Polyglas tires. I’m not sure about that last statement, but I probably wouldn’t trust them at freeway speed if it is true. The seller includes the Marti Report and other documentation tracing this Shelby’s history.

This 1969 Shelby Mustang GT500 is a stunning car, and unearthing it would have been the equivalent of striking automotive gold. It proves that enthusiasts shouldn’t focus exclusively on sheds and barns when searching for a desirable set of wheels because almost any space large enough to house a car could be a potential hiding place. I’m glad this GT500 has been liberated, and I hope the new owner enjoys it as its creators intended. It deserves nothing less.