For the 1967 model year, Shelby introduced a modified GT500 version of the Ford Mustang as a more powerful model over the existing GT350. Total production was around 2,050 units for that year, making this first year’s car quite rare and quite worthy of collection. You never know where you might find treasure, as this barn find turned up in Nebraska after sitting here since the early 1980s.
Cars find their new owners, not the other way around. A friend was at an auto show in a knockoff of a 1967 Shelby GT350 convertible. Two brothers at the event told this person that they had a ’67 GT500 in their arsenal, and the news called for the machine to be seriously looked after.
A group of Shebly experts gathered to inspect the car, including a Mustang Club of America restorer and judge. Plus, they brought with them books cataloging every Shelby car so they knew what to look for. Originally red with black interior. The first buyers were in Omaha, NE.
They asked the current owner to leave everything in the car. When the experts got there, it became like an archaeological dig. Shelby’s piece is in the cabin and the other is upstairs in the shed.
Finally, a story seems to unfold. This Shelby was apparently used for drag racing at some point. Fender damaged and replaced. Also, there’s a punch to the front end. Brother’s family members bought the car for restoration, but it never happened.
The numbers on the front end confirm this is a real Shelby GT500 and several other items in the shed belong to the car. However, the engine, transmission and rear were all gone.
The car is pretty good for the host of this video, and he bought a GT500 to restore it. When the job was done, he wanted to give his siblings a chance to drive the Shelby, as they never had the chance to own the vehicle.
While the ’67 Sheby GT350 used a 289-cubic-inch (4.736-liter) V8 engine, the GT500 has a 428-cubic-inch (7.014-liter) big block powerplant. It also had two Holley four-barrel carburetors. This setting gives them a factory rating of 355 horsepower (265 kilowatts) and 420 pound-feet (569 Newton-meters) of torque.