6S637 - on Bring A Trailer

[silverton_ford]

LINK to auction: https://bringatrailer.com/listing/1966-shelby-gt350-11/

This 1966 Shelby GT350 was delivered new to Dick Walters Ford in Des Moines, Iowa on January 18, 1966 and sold to its first owner the following February 10. The car was reported stolen under subsequent ownership in California before resurfacing without its Shelby tag, and spent time with a series of owners while registered under its Ford VIN. After undergoing a refurbishment that returned it from white to its original green, the car spent three decades with two further owners in Santa Cruz, California. It was inspected and removed from the stolen vehicle database in 2007 after its 1974 theft was discovered by the Shelby American Automobile Club, and was acquired by the seller seven years ago. Power is from a replacement 289ci V8, and an uninstalled numbers-matching engine block is also included in the sale. Additional equipment includes a four-speed manual transmission, front disc brakes, 14" 10-spoke wheels, a fold-down rear seat, and an AM radio. This GT350 is offered with a copy of its original sales invoice, SAAC registry entries, a California Highway Patrol report, invoices from a January 2021 service, an extra set of Torque Thrust wheels, and a clean California title in the seller's name.

The car was repainted from green to white with blue stripes several decades ago, and was returned to its previous shade with white stripes at some point prior to 1986. Details include plexiglass rear quarter windows, fiberglass brake-cooling scoops on the rear quarter panels, hood pins, and a single bullet mirror.

A video tour is provided above. Touch-up work was performed on the underside of the steel hood in January 2021. The paint around the trunk opening exhibits imperfections, and wear is noted on areas of the brightwork.

Ten-spoke 14" aluminum Shelby wheels were mounted with new BFGoodrich Radial T/A tires in January 2021. American Racing Torq Thrust wheels with Pirelli tires are also included in the sale. The GT350 featured Kelsey-Hayes front disc brakes as well as larger rear drum brakes than the standard contemporary Mustang. A rear brake refreshment in January 2021 including replacement of the wheel cylinders and shoes, turning the drums, and a fluid flush.

The low-backed bucket seats and Sport Deck fold-down rear seat are trimmed in black knitted vinyl, with color-matched upholstery covering the doors and dash. New black carpeting was installed following the seller's acquisition, and is protected by rubber Mustang-branded floor mats. Additional equipment includes a Hurst shifter, racing-style front lap belts, a push-button AM radio, and a glovebox door signed by Carroll Shelby.

A simulated wood steering wheel with a split rim frames round instrumentation consisting of a 140-mph speedometer flanked by gauges monitoring fuel level, oil pressure, amperage, and coolant temperature. A Cobra-branded tachometer with an adjustable redline needle is mounted atop the dash. The five-digit odometer shows 49k miles, approximately 1,600 of which have been added by the seller.

The replacement 289ci V8 can be seen running in the cold-start video above and is topped with a four-barrel carburetor, a high-rise intake manifold, and ribbed aluminum Cobra valve covers. A matching deep-sump oil pan was installed in January 2021. Additional service included replacement of the heater core, oil and coolant changes, and a tune-up.

Power is sent to the rear wheels through a four-speed manual transmission. The upper front ball joints were replaced along with the sway bar bushings and end links during the January 2021 work.

The extra engine block was removed for unknown reasons, and bears a 5L8 casting date and L22M assembly mark as well as a stamped serial number matching that on the car's inner left fender, which is covered by a replacement Shelby ID tag. Six digits of the same Ford VIN are handwritten on a copy of the original dealer invoice, which is shown in the gallery below. Also pictured are SAAC entries describing the 1970s theft as well as paperwork from the resulting 2007 CHP inspection. The car remains titled to its Ford VIN.

[gt350hr]

   This "situation" is MOST annoying to "me"  and ALL SAAC members should be aware that this can happen. This car was owned by my good friend Dwight Lightbody and stolen from his driveway. "I" reported it to the Shelby community when it happened. It's obvious that the thief(s) moved it to Northern California and kept it hidden long enough for the heat to die down. Dwight was paid off by the insurance company so they "owned" it's rights. As is common these days , Dwight's insurance company was absorbed by a larger one and when I informed Dwight , the Orange Police Dept (where the theft was reported) and SAAC in later years that the car had miraculously resurfaced , the insurance company could not produce the title and technically Dwight didn't own it. I have nothing to do with , nor ANY interest in this EXCEPT to keep this from happening to "OTHERS". Subsequent "innocent" owners were duped as well and if the records were better kept , "could" have been implicated in "receiving stolen property". I am NOT casting any malice OR ill will on the subsequent owners.
    Sure I could just SHUT UP but how would you feel if it happened to YOU?

[2112]

   This "situation" is MOST annoying to "me"  and ALL SAAC members should be aware that this can happen. This car was owned by my good friend Dwight Lightbody and stolen from his driveway. "I" reported it to the Shelby community when it happened. It's obvious that the thief(s) moved it to Northern California and kept it hidden long enough for the heat to die down. Dwight was paid off by the insurance company so they "owned" it's rights. As is common these days , Dwight's insurance company was absorbed by a larger one and when I informed Dwight , the Orange Police Dept (where the theft was reported) and SAAC in later years that the car had miraculously resurfaced , the insurance company could not produce the title and technically Dwight didn't own it. I have nothing to do with , nor ANY interest in this EXCEPT to keep this from happening to "OTHERS". Subsequent "innocent" owners were duped as well and if the records were better kept , "could" have been implicated in "receiving stolen property". I am NOT casting any malice OR ill will on the subsequent owners.
    Sure I could just SHUT UP but how would you feel if it happened to YOU?

What would be the solution?

If your friend Dwight had kept a receipt of his payout, could he have paid it back to the insurance company and regained ownership?

[Wedgeman]

Great question, Michael !

[csxsfm]

The lawyers win.

[Shane]

What would be the solution?

If your friend Dwight had kept a receipt of his payout, could he have paid it back to the insurance company and regained ownership?

When you're paid by the insurance company for a property loss it becomes their property. Any appreciation or depreciation in the value that occurs afterward is their gain or loss. Cars. Stamps. Art. Furniture. Whatever. There's is no receipt or record that changes that in the vast majority of cases.

Typically the special items go to auction and the prior owner can opt to buy it just like anyone else. Sometimes, on a lucky day, the insurer will negotiate a purchase price with the previous owner. It helps if the property was recovered within two years of the claim or hasn't appreciated materially.

[427hunter]

   This "situation" is MOST annoying to "me"  and ALL SAAC members should be aware that this can happen. This car was owned by my good friend Dwight Lightbody and stolen from his driveway. "I" reported it to the Shelby community when it happened. It's obvious that the thief(s) moved it to Northern California and kept it hidden long enough for the heat to die down. Dwight was paid off by the insurance company so they "owned" it's rights. As is common these days , Dwight's insurance company was absorbed by a larger one and when I informed Dwight , the Orange Police Dept (where the theft was reported) and SAAC in later years that the car had miraculously resurfaced , the insurance company could not produce the title and technically Dwight didn't own it. I have nothing to do with , nor ANY interest in this EXCEPT to keep this from happening to "OTHERS". Subsequent "innocent" owners were duped as well and if the records were better kept , "could" have been implicated in "receiving stolen property". I am NOT casting any malice OR ill will on the subsequent owners.
    Sure I could just SHUT UP but how would you feel if it happened to YOU?

Hi Randy, I am a bit confused, so the car was stolen and the owner paid off; are you saying the person in posession of the stolen car was able to keep it because the insurence company could not produce the title?

[pchmotoho]

Perhaps we are missing some info here.  Someone was still in possession of stolen property (knowingly or unknowingly). 

[67 GT350]

Insurance paid the owner, end of story. When the car surfaced, that is when a red flag should have gone off and the police should have been involved. We are missing that chapter. BUT (Perhaps the car was bought at a recovery auction) thus the new owner is the legal owner. Many owner's later we see it at auction. Might not bother some. Might bother some? Maybe it is just the history of the car? If you choose to be involved with that history. BIG QUESTION, where is the original TAG??? On what car unknown to SAAC. The body of this car is known, the TAG and perhaps some car in another country? Is not know to SAAC, and when it is found out......


I really do not see a problem with any car's history as long as SAAC knows and people who come here can be educated about a car or their car.
SPEAKING OF THAT.....I want my 67 (new) Registry! LOL

[shelbymann1970]

   This "situation" is MOST annoying to "me"  and ALL SAAC members should be aware that this can happen. This car was owned by my good friend Dwight Lightbody and stolen from his driveway. "I" reported it to the Shelby community when it happened. It's obvious that the thief(s) moved it to Northern California and kept it hidden long enough for the heat to die down. Dwight was paid off by the insurance company so they "owned" it's rights. As is common these days , Dwight's insurance company was absorbed by a larger one and when I informed Dwight , the Orange Police Dept (where the theft was reported) and SAAC in later years that the car had miraculously resurfaced , the insurance company could not produce the title and technically Dwight didn't own it. I have nothing to do with , nor ANY interest in this EXCEPT to keep this from happening to "OTHERS". Subsequent "innocent" owners were duped as well and if the records were better kept , "could" have been implicated in "receiving stolen property". I am NOT casting any malice OR ill will on the subsequent owners.
    Sure I could just SHUT UP but how would you feel if it happened to YOU?

Hi Randy, I am a bit confused, so the car was stolen and the owner paid off; are you saying the person in possession of the stolen car was able to keep it because the insurance company could not produce the title?

The paperwork in the auction explains all of this and ,yes, the current owner at the time kept the car and the car was now legally his with no repercussions as it was taken out of the stolen car data base according to the documents provided and that happened in 2007. Gary
BTW it appears the only one "screwed" in the situation money wise was the insurance company for not keeping better records. Rare when an insurance company comes out behind....If they had the title they could come after the car and the current owner would be screwed. Seems I remember this happening a long time ago with a collector car that resurfaced like this.

[csxsfm]

Unless you bought a replacement Shelby immediately, the insurance settlement at the time does not compensate for the loss of enjoyment of the car, any sentimental attachment and the significant financial appreciation Shelby's enjoy.  I appreciate Randy's frustration.  Thieves suck! 

[427hunter]

   This "situation" is MOST annoying to "me"  and ALL SAAC members should be aware that this can happen. This car was owned by my good friend Dwight Lightbody and stolen from his driveway. "I" reported it to the Shelby community when it happened. It's obvious that the thief(s) moved it to Northern California and kept it hidden long enough for the heat to die down. Dwight was paid off by the insurance company so they "owned" it's rights. As is common these days , Dwight's insurance company was absorbed by a larger one and when I informed Dwight , the Orange Police Dept (where the theft was reported) and SAAC in later years that the car had miraculously resurfaced , the insurance company could not produce the title and technically Dwight didn't own it. I have nothing to do with , nor ANY interest in this EXCEPT to keep this from happening to "OTHERS". Subsequent "innocent" owners were duped as well and if the records were better kept , "could" have been implicated in "receiving stolen property". I am NOT casting any malice OR ill will on the subsequent owners.
    Sure I could just SHUT UP but how would you feel if it happened to YOU?

Hi Randy, I am a bit confused, so the car was stolen and the owner paid off; are you saying the person in possession of the stolen car was able to keep it because the insurance company could not produce the title?

The paperwork in the auction explains all of this and ,yes, the current owner at the time kept the car and the car was now legally his with no repercussions as it was taken out of the stolen car data base according to the documents provided and that happened in 2007. Gary
BTW it appears the only one "screwed" in the situation money wise was the insurance company for not keeping better records. Rare when an insurance company comes out behind....If they had the title they could come after the car and the current owner would be screwed. Seems I remember this happening a long time ago with a collector car that resurfaced like this.

That's very unusual, once recovered the vehicle would be returned to owner at the time of the theft, the transaction between the insurance company and the vehicles registered owner is civil and the police would have zero involvment in that side of it. The owner at the time of the theft must have told the recovering agency that the insurance company was now the owner.

[csxsfm]

Clean title?  With its history with an insurance company payoff, I'm surprised California didn't slap a Salvage Title on it.

[2112]

Are they able to track the car back to who had it squirreled away all those years?

[SBCARGUY]

It was most likely Originally Titled using SFM6S637 which may have become "salvage" at that point..

Vin Tag stolen and then re-titled using the Ford Vin and Bingo... No Salvage Title 

Just my guess.... 

Clean title?  With its history with an insurance company payoff, I'm surprised California didn't slap a Salvage Title on it.