Last Driven 40 Years: 1966 Shelby Mustang GT350
The GT350 was a Mustang fastback that was built as a collaboration between Ford and Shelby American, Carroll Shelby’s company. Shelby was heavily involved in 1965-67, whereas Ford took control from 1968 to 1970. To some, the original 1965-66 editions are the most iconic and perhaps fetch the highest dollars on the resale market. This one from 1966 has been sitting for a dozen years and has the distinction of being the last production car from ’66 to be “built, sold, and shipped” by Shelby (per the seller). Located in Michigan City, Indiana, this rare Ford is available here on eBay for the lofty price of $350,000 OBO (and it needs work).
Shelby Mustangs were not the first effort between Ford and Shelby. The AC Cobra came before them in 1964. GT350s for 1965 and 1966 came with a 289 cubic inch “HiPo” K-code V8 engine whose output was tweaked by Shelby for an increase from 271 to 306 hp. A high-rise intake manifold was part of the Shelby magic. Selected Mustang fastbacks were shipped to Shelby as stock with a 289, 4-speed manual transmission, and a 9-inch rear end. Additional changes made by Shelby included headers, front disc brakes, and larger rear drum brakes (from the Galaxie 500). Automatic transmissions became available in the second year.
While the ‘65s were all painted Wimbledon White, the ‘66s had a wider color palette which included Sapphire Blue. That’s how the seller’s car originally came, changed to white later on. Shelby-American initially produced 1,373 fastbacks in 1966, including 252 that were leftover 1965s reworked into the later versions. The number would increase to 2,378 when the ones built for rental use by Hertz were factored in.
As the story goes, the seller bought this edition 12 years ago from its second owner, having then been unused since the 1980s. Other than giving it a thorough cleaning (to sell it), nothing has been done to the fastback in ages. The car seems to be well-preserved with a lack of rust (except for lots of the surface variety on the undercarriage) and the bucket seat interior looks practically new. The drivetrain is numbers-matching, and no attempt has been made to get it to go. But we’re told the engine is not locked and will turn by hand.
The seller has verified that the numbers on this vehicle match with what’s in the Shelby Registry, including both Ford and Shelby VINs. Documentation will come with the car, which you would expect for a rarity at this asking price. The Ford was presented in “as found” condition before its recent bath. Perhaps the first step is to get the car up to speed mechanically and then worry about whether you want to do anything to it cosmetically. Some of you might want to find a similar non-Shelby ’66 Mustang for one-tenth the asking price of this one, but then it wouldn’t be a Shelby GT350, would it?
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Comments
Nice article, Russ!
Love these and the GT500 but these will forever remain out of reach of mere mortals. Three hundred fifty thousand? The mind reels.
I’ve been restoring Mustangs for over 40;years. The asking price here is insane.
I agree, but these seem like they’ve been out of reach of us normies since 1971. You had to have a very good income to afford one when I started driving in 81. I always just looked and knew it was an untouchable car.
That was the case with numerous muscle cars, LS6 Chevelle’s, 69 Trans Ams, Hemi cars, Boss Mustangs, etc.. That taught many people to look at a broader range of cars they could afford, more importantly the process of how to hunt for good deals in general or a specific model in particular. By doing so those that took that approach were rarely without a cool car to drive. Unfortunately, some people never learned that lesson, mainly that it took effort to find what you liked and never got the car the “wanted” or any muscle car at all. I’m sure they still whine about it, 40 years later, as some guys that took that approach and I still know continue to do.
Steve R
I was amazed at what these sold for in the ’70s, magnitudes in price more than the other used muscle cars of the day. I couldn’t understand why. BBC and Hemi’s could be had for quite a bit less.
You can always “ask” … doesn’t mean you’ll get.
Out f ing rageous….
Cool car but if you brought this car to a marque expert to restore you would be looking at about $200K to restore back to a fairly good level. Then you would have a car worth $200 – $250K in the current market, so not sure why the $350K Ebay price. This car was bid up to $260K at an online auction a couple of weeks ago, but did not meet reserve. I would have taken the money & run!
Because human beings are always trying to to take advantage of one another when it comes to money and material things…
No,nobody would do that
It’s only taking advantage when the seller is being deceptive by misrepresenting an item they are selling. Using your logic, when a potential buyer is not willing to pay the amount a seller asking, the seller is trying to take advantage of someone else. This is not a necessity, your statement makes sense in that context, not for a car like this.
Steve R
Actually you’re wrong!! Other than the asking price is overinflated for this car even it it’s current condition. Other than the color not being original only a repaint and cosmetics needs addressing! So maybe 100k in a decent restoration then will bring a 500k+ or even more at an auction.
This one was on BaT a few weeks ago – lots of interesting commentary there. Now we know how much he was really asking for it. Bid to $266K as I recall.
And to think I had two of those early wheels on my Studebaker – heck what did I know – it was hard to believe the guy when he sold them to me.
Asking price to high for the amount of work it needs,
I love Shelby’s of all kinds. Been a Ford man my whole life. But. I wish the more money than brains “car collectors” would some day just refuse to pay stupid money for cars in this condition. Maybe it’s finally happened with this one.
This is a 1966 car, not a 1965. The seller is confusing the price level of 1965 cars with race history with his 1966 car with no race history. The car is worth maximum in RESTORED condition $200k.
What it’s worth is 2 people at an auction fighting over it as long as the reserve is met!! It would take around 200k to restore it possibly!! Breaking even isn’t worth it!!
fubar!!!
I’m just here to read the “too much” asking price posts. Y’all need to get over the BIN and stop ignoring the Make An Offer option.
They’re making more of these, right?
Yup, just go see our friends at Dynacorn
It’s all in what the market will bear that dictates the value one these classics. There’s always someone out there willing to pay the price, just to have one.. If I was selling one, knowing the popularity of them today, I’d shoot for the moon too. I have a friend with a 68 Mustang Shelby 500KR, 427 CJ,,, all original and he will not sell for less than $1.5Mil. He said Shelbys’ wife owned it, but does not have the documentation to verify that.
It’s mine if I hit the lottery.
If your friend’s KR was all original it would have a 428 Cobra Jet engine as they did not come with a 427. Great cars though!
You might be right.. I’ll check
This one is overpriced by 200K
seems there are some rust issues under the car…350K, think not.
I just wanna know what this 3rd owner paid be4 parking it 12 years ago. He needs to check out what the Good Book says about greed. I’m a Mustang Man 💯 % & get that its. “just bizzness.” But c’mon! He needs a reality check. This classic needs a lot of work for that $$$. Rant now over.
“He needs to check out what the good book says about greed”.
The so called Christians of these times struck that part out of the good book long ago.
They have to have lots of cash to be able to buy a jet.
I agree about the price. Way too high, at least for us mere mortals.
What do you mean about “so called Christians” in your comment???
To Piper62j look up “pastors” that preach “prosperity gospel”.
Cool but not 350K cool. Not even a Boss 429. The most valuable part of a Shelby Mustang is that little aluminum tag. The rest can be faked by modding a six cylinder car.
So you think 🤔
WOULDa, COULDa; SHOULDa
in the sixties I bought a Black/Gold stripe 350H for $160 from the NYC police department.
Kept it a few years and it became an “excess” car and sold it for $1,400.
It was just a nice interesting thing.
HEY
I made money, Right, had fun turning 7,000 rpm; drove it like I stole it.
no regrets, just history,
like the 427 Cobra I bought from the NYC Police for $3,000 and sold the next day for $4,200.
It too, was a nice thing.
Peter
Relying too much I think on the claim of it being the
last one produced to add 100K. Cool example nonetheless.
Even as an early Chevy/Pontiac person, these have always stood out to me.
Wish I had that kind of _uck around money.
Unrealistic price FACT! Check out recent sales on BAT
There are quite a few complaints about BAT..