FIRST SHELBY G.T.500E CONVERTIBLE FETCHES WORLD RECORD $550,800

FIRST SHELBY G.T.500E CONVERTIBLE FETCHES WORLD RECORD $550,800 AT BARRETT-JACKSON PALM BEACH AUCTION
Blue on Blue and White Drop Top Shelby Attracts Collectors and Enthusiasts

PALM BEACH, Fla., April 2, 2005 – The first 1968 Shelby G.T.500E convertible was sold for a world record $550,800, including auction fees, during the 3rd Annual Barrett-Jackson Palm Beach Collector Car Auction on April 2, 2005 at the South Florida Expo Center in Palm Beach, Fla. After a spirited battle for the drop top, the winning bidder captured the only documented Shelby G.T.500E convertible in the world.

“Shelby vehicles continue to attract collectors because the cars offer spectacular performance, sizzling good looks and exclusivity,” commented Craig Jackson, president of the Barrett-Jackson Auction Company. “We’ve auctioned the first car of a continuation Shelby model three times, and each one has attracted record prices. We’re excited that another Shelby world record was set at a Barrett-Jackson Auction.”

Demand for genuine Shelby vehicles continues to climb, with vintage and continuation Shelby Cobras and Mustangs are fetching record prices. At the 2005 Barrett-Jackson Auction in Scottsdale, Ariz., a 1963 Shelby 289 Cobra set a world record at over $366,000 including bidders fees while a 1968 G.T.500KR convertible also set a record when it crossed the block at a price of over $200,000.

Built by Unique Performance for Mr. Shelby, the genuine G.T.500E convertible is the latest in the Shelby continuation series. The Shelby G.T.500E convertible, #CSE-001C, featured a small block, aluminum V-8 with fuel injection. This one-of-a kind Shelby also included a five-speed TKO Tremec transmission and a Unique Performance Parts rear suspension upgrade. The convertible was finished in white with blue racing stripes and a padded roll bar in the blue interior.

Every vehicle built in the continuation car program receives an official Shelby serial number and will be included in the next printing of the SAAC registry. This vehicle was the first documented Shelby G.T.500E convertible, giving the new owner a rare opportunity to snag an original piece of automotive history.

“A Barrett-Jackson auction is the perfect place to offer a genuine Shelby car,” said Douglas Hasty, president and CEO of Unique Performance. “Their buyers prize style, performance and collectability. And we’re proud that a portion of the sale of this special car will benefit the Carroll Shelby Children’s Foundation.”

Legendary racer and automotive manufacturer Carroll Shelby, following years of heart-related difficulties which culminated in a successful heart transplant, created the Carroll Shelby Children’s FoundationÔ (www.shelbychildrensfoundation.org) in 1991. The organization is dedicated to providing assistance for acute coronary and kidney care for young people who share many of the same afflictions.

The first G.T.500E was sold at the 2003 Barrett-Jackson Scottsdale event for a world record $194,400 including fees. The next year, the first production G.T.350SR was sold for $159,000.

The Barrett-Jackson Palm Beach Auction is scheduled for Friday, April 1st to Sunday, April 3rd, 2005, at the South Florida Expo Center in Palm Beach with the gala night on Thursday, March 31. This year’s banner event includes over 400 quality collector cars with exclusive TV auction coverage by SPEED Channel. For more information, please visit www.barrett-jackson.com.



About Barrett-Jackson Established in 1971, Barrett-Jackson specializes in providing products and services to classic and collector car owners, astute collectors and automotive enthusiasts worldwide. The company produces the “World’s Greatest Classic Car Auction” in Scottsdale, Ariz., and has expanded to other venues including Palm Beach, Florida and Southern California. For more information, visit www.barrett-jackson.com or call (480) 421-6694.

###

Media Contacts
Person: Scott Black
Agency: TimePiece PR
Phone: (214) 520-3430 ext. 303
Email: sblack@timepiecepr.com

http://www.barrett-jackson.com/events/florida/vehicles/cardetail_list.asp?id=180735

http://www.barrett-jackson.com/about/pressreleases/pb05Shelby.asp

 

That's an absurd price for one of these new/old cars. I think I took a picture of this car last October as it ws being built. See below.

 

Well, if you've got the money, I guess it's up to you to spend it how ever you like. It just seems high...real high. Yes, it's the first convertible but they will probably make quite a few more as long as people are willing to buy and I bet you can pick one up for half that before too long. From what I understand, Unique Performance does have a backlog of orders so they are probably building whatever is ordered. I wonder if you can order them to build a convertible? I can guarantee it's a blast to drive but I still find it hard to get past what other cars you could buy with that money. That's a good thing though. I would choose to spend the money on other cars but since last time I checked my bank account there was not an extra $550,800, it's not for me to decide. Whomever bought this may have the means to buy whatever he wants and I'm glad he chose a car with the Shelby name on it.