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Question of value for a very rare Shelby 1966 GT350 Convertible

Discussion in '1965-1970 Shelby Mustang GT350 & GT500' started by mrbeverlyhills, Aug 19, 2009.

  1. mrbeverlyhills

    mrbeverlyhills Member

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    Does anyone have a feel in today's depressed car market what a 1966 GT 350 CONVERTIBLE in excellent shape is worth? This is one of the follow on cars authorized by Carroll in the 80's, there were 12 of them and they are all inthe Registry with Shelby serial numbers but not one of the original 6 made in 1966.
    Anyone have an idea what a restored condition car like this might be worth?
    Thanks in advance.
     
  2. thefordshow

    thefordshow Well-Known Member

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    Re: Question of value for a very rare Shelby

    This is just my opinion, but it would have the same value as a '66 mustang convertible cloned into one of the ORIGINAL 6 shelbys. I just can't see how you can take a mustang that started out life as a "mustang", used as a "mustang" for 14 years, then put the shelby mods on it and call it a original 66 shelby???? :whistle: Something just not right about that. Even if Mr. shelby gave his blessing, you can't turn back the hand of time,sorry. Like I said, this is just my opinion, I'm sure some my differ.
     
  3. mrbeverlyhills

    mrbeverlyhills Member

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    Re: Question of value for a very rare Shelby

    Well all Shelbys started out as Mustangs. So your opinion is that 1 of 12 GT 350 convertibles, that are in the Registry, with Shelby serial numbers and put together with correct parts not last year's repro stuff out of a catalogue is worth the same as a clone from one of over 400,000 cars? No difference?

    Also to be clear, no one calls these cars original, they are called the "follow on " cars and have a separate page in the Registry,
     
  4. zrayr

    zrayr Well-Known Member

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    Re: Question of value for a very rare Shelby

    Even though there are only 12 of them, they still weren't manufactured (by Shelby) in the '60's. IMHO that hurts their value despite the Shelby VIN. I wouldn't be so hard as to say they are only worth what a Mustang would bring, but they certainly are worth much much less than a '66 production GT-350 fastback.

    If I had to put a number on it I would say 70 % of what a '66 GT-350 of comparable quality is going for.

    Z. Ray
     
  5. A-Snake

    A-Snake Well-Known Member

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    Re: Question of value for a very rare Shelby


    There were 4 original convertibles produced not 6.
     
  6. A-Snake

    A-Snake Well-Known Member

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    Re: Question of value for a very rare Shelby

    Z.Ray,
    Can I assume you meant to say 70% of a '66 GT350 fastback not 70% of one of the original four convertibles?
     
  7. Bob Gaines

    Bob Gaines Well-Known Member

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    Re: Question of value for a very rare Shelby

    I have another opinion to share. I have seen these continuation cars come up for sale publicly at auctions but mostly privately. When these change hands they do so infrequently but at normally the same price as a comparable vintage 66 GT350 fastback in like condition but it is very infrequently. Like condition being the key word. The 1966 vintage produced 66 GT350 convert on the other hand sell for 3 to 4 times as Much as a comparable GT350 fastback. Of course it is hard to gauge as only 2 of the original 1966 made converts has changed hands in recent years. Shelby and his children and grand children still have their continuation GT350 converts after all these years. Those now have got to be some of the longest owned cars Shelby has kept in his collection . That must count for something in regards to legitimacy. I think a continuation 66 GT350 convert would be a key car in any 66 GT350 collection. Just some more thoughts on the subject. Bob
     
  8. Bob Gaines

    Bob Gaines Well-Known Member

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    Re: Question of value for a very rare Shelby

    Besides the correct number of 4 1966 made GT350 converts that A-Snake added, the cars in question are also commonly referred to by the registry/registrar and collectors/enthusiasts alike as Continuation cars and not "follow on".Bob
     
  9. A-Snake

    A-Snake Well-Known Member

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  10. 2+2GT

    2+2GT Well-Known Member

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    Re: Question of value for a very rare Shelby

    Well, in this case the "you" was Carroll Shelby, he didn't "bless" the build, he initiated it. And of course ALL Shelby cars started out as Mustangs. In this case, simply more time elapsed between the Ford line and Shelby's shop. Remember, Shelby created these 12 cars to replace the one he'd accidentally sold, provide cars for the principals involved, and pay for the project.
     
  11. mrbeverlyhills

    mrbeverlyhills Member

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    Re: Question of value for a very rare Shelby

    Was it really 4 original convertibles? I thought 6 were built of which the whereabouts of 4 are known.

    Was the market better in 2007 than now? The one in BJ Auctions was not as nice as the car I have in mind.
    Thanks to all for the input.
     
  12. A-Snake

    A-Snake Well-Known Member

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    Re: Question of value for a very rare Shelby

    The quantity of 6 was an urban legend just as the one about the pink one. The 4 were green, yellow, red, and blue.

    As with original '66 Shelbys, be sure to check with SAAC and the Shelby Registrar, Howard Pardee at 65-66registrar@saac for the known history of the car.
     
  13. zrayr

    zrayr Well-Known Member

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    Re: Question of value for a very rare Shelby

    yes, you are correct, that was my meaning.


    These "what's it worth" questions have two distinct answers:

    1) what's it worth TO ME

    2) what's it worth in the marketplace

    Z.
     
  14. zrayr

    zrayr Well-Known Member

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    Re: Question of value for a very rare Shelby

    2007 is ancient history, Since then there has been serious recession & all classic car including Shelby's values, or more accurately, "prices" have dropped like a rock. I can't recall having ever seen more nice cars of every make not meeting the reserve or even getting a single bid.

    All expensive toys are hurting. People are actually walking away from yachts because they can't pay the storage or slip rentals.

    Z.
     
  15. zrayr

    zrayr Well-Known Member

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    Re: Question of value for a very rare Shelby

    A lot of time has also elapsed between the 1966 427 Cobra, and the ones that Shelby is selling today. We won't be expecting the current crop of 427's to gain much in value anytime soon.

    Z.
     
  16. Engineer

    Engineer Well-Known Member

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    Re: Question of value for a very rare Shelby

    MrBeverlyHills ..... Sent you a Private Message on this topic. My e-mail address is rpclnash@cs.com.
     
  17. rshelby

    rshelby ShelbyForums Admin Staff Member

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    Re: Question of value for a very rare Shelby

    I think zrayr is right.
    According to his comments, they are obviously not worth much to thefordshow, but I think the marketplace would differ from his opinion. Although, the marketplace is constantly changing and is not very supportive of high prices right now. The only sale I have seen for one of these is the one mentioned by A-Snake.
    I would guess that the value for these would range somewhere between 70% on up to over 100% of an original 1966 GT350. What I mean by that is if Carroll sold his, I imagine it would fetch more than your average 1966 GT350 fastback.

    Here is the one I enjoy driving regularly. 6S2388
    [​IMG]

    Below is my aunt's Continuation GT350...during and post restoration. 6S2386
    [​IMG]
    [​IMG]
     
    Last edited: May 18, 2011
  18. tesgt350

    tesgt350 Well-Known Member

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    Re: Question of value for a very rare Shelby

    Beautiful Car.......I met you several Years ago at a Show in Birmingham Alabama at the barber Motorsports Park. You were sitting beside your Car. I looked for you at the 45th Event but I guess you didn't make it.
    David.
     
    Last edited by a moderator: May 18, 2011
  19. patty.dilabio

    patty.dilabio Well-Known Member

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    Re: Question of value for a very rare Shelby

    Hi all on this thread,
    These cars were and are in a very narrow market...And remember they are also based on original K code convertibles.The 12 cars planned were not all completed,most likely due to slow sales.They may not sell fast,but when they do sell they are selling for more than a hipo convertible,and for less than a G.T.350.The best answer is whatever the market will allow-as with anything collectible--it should be based on condition-documentation-desireability-rareity.When in doubt,call on a professional appraiser.Auctions have set many prices in strange directions,and may not be a good indication of real world values.Nice cars and good runners-love that sapphire blue!!:)
    Regards P.D.
     
  20. A-Snake

    A-Snake Well-Known Member

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    Re: Question of value for a very rare Shelby

    Patty,
    Yes, Shelby had 289 HiPo engines installed but are you sure these continuation cars began life as a K code Mustang convertible? I don't think the Ford VIN is made public on these.

    Which ones were not completed? 10 show individual ownership in the Registry, 2 show being built for Beverly Hills Mustang. (the builder) The Registry states the last two were completed in 1989 and 1993.
     

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