Broken but priceless: 1968 Shelby GT500KR Convertible to be auctioned
Rusty, broken, and battered — these are not the best words to describe a car, but that is exactly how this neglected pony car can be characterized. However, its poor condition is unlikely to prevent bidders from creating a real frenzy.
This 1968 Shelby GT500KR Convertible, which looks much worse than in its prime, will be auctioned by Mecum on July 25. The lot description does not mention what exactly happened to the car, but it appears to have been in an accident, after which it sat motionless for decades.
More about similar lots: This rusty scrap metal could be worth up to $1 million.
Regardless of what happened, the model has significant front-end damage: we see a dented bumper, a broken grille, and a battered front spoiler. Further, the body is painted in Wimbledon White, and the roof is black, power-operated, and convertible. These are complemented by blue stripes on the body and 15-inch wheels fitted with Goodyear Eagle ST tires.
Also noticeable is a fair amount of rust around the doors and side air intakes. Add to that rusty lower body panels and a sizable spoiler.
Interior in relatively good condition
While the exterior has seen better days, the interior looks decent. It features black vinyl seats, a three-spoke steering wheel, and plenty of wood trim. It also includes a Philco radio and an odometer showing 80,757 miles (129,966 km).
Mecum
Specifications and rarity
Under the hood is a 7.0-liter (428 cubic inch) V8 Cobra Jet engine, which reportedly produced 335 hp (250 kW). It is paired with a four-speed manual transmission and a Hurst shifter. According to claims, this setup allowed the convertible to accelerate to 60 mph (96 km/h) in 6.9 seconds, cover a quarter-mile in 14.8 seconds, and reach a top speed of 140 mph (225 km/h).
Although this particular car cannot do that anytime soon, it features power steering and brakes, as well as a Traction-Lok rear axle.
The lot has no estimated value, but the Shelby is being sold without a reserve price and will undoubtedly be worth much more than its original suggested retail price of around $4,600, which, adjusted for inflation, is approximately $45,000 today. How much more is the key question, as restored examples can fetch six-figure sums, and this car is one of only 518 GT500KR convertibles in existence.
Mecum
This case vividly demonstrates how rarity and historical value can outweigh even a catastrophic physical condition. The Shelby GT500KR Convertible is not just a car but a legend, and even in this state, it remains a desirable trophy for collectors. Given that it is one of 518 produced units, its auction value could reach astronomical heights, because for a true enthusiast, this is not just a pile of metal but a chance to restore a piece of automotive history. Investing in the restoration of such a rarity, though costly, almost always pays off, turning a “wreck” into a museum piece worth hundreds of thousands of dollars.