1967 G.T. 500 Sold for $104,500 at Mecum's Indy

[deathsled]

Lot F40  (Friday October 6th, 2023 result incidentally)

https://www.mecum.com/lots/1095308/1967-shelby-gt500-fastback/

That's rather low is it not?  Very weird to me.

[deathsled]

Looked that car up in the 97 Registry.  Car is cherry from what I read and then saw on the Mecum site.  Car is a beauty.  Four speed to boot.  Some buyer is going to have a blast with this car I suspect.

[GT350Lad]

Yeah seems low. Not sure what to make of it. Good deal for buyer

[557]

A bargain.Anyone know if it ran?(seems like a lot of cobwebs under it)

[shelbydoug]

I can't imagine what happened there? In my view it is very out of character.

The "market" has not collapsed. Far from it.

I suppose we will learn more about this car eventually?

[pchmotoho]

I would tend to believe that it must have had some sort of issue(s).  Surely their must have been more than a few Shelby guys in the room who would have bought it at a higher price had all been good. 

[Bill Collins]

I have been selling these cars for 45 years and the fact that is lost on most people is that there are two distinct markets for these cars and they do not typically interrelate. The two '67 500's in this sale are demonstrative of this:

Car #706 sells for $275,000:
- Arguably the most desirable color combo of Nightmist Blue / Parchment interior
- Fairly recent restoration to a high standard by a noted organization
- Provenance and documentation

Car #775 sells for $104,500:
- Arguably the least desirable color combo of Lime Gold with black interior
- Unrestored but not a survivor in the strict sense - offered in its shabby "as put away in 1975" condition.
- Questionable mechanical / operational status
- Modifications such as wheels, stripes, outside mirrors, shifter - missing under dash gauges
- Minimal documentation

Buyers at the top of the market want only no issue examples such as #706 and completely shun those like #775. So the second car defaults to the hobbyist / reseller / speculator market, and it is a LONG fall from the top to that next level. Most high end buyers do not want to be bothered with improving a vehicle, although some may if it is sufficiently desirable and valuable. The hobbyist / dealer / speculator market either cannot or will not afford to pay up, as they typically want a margin of value either to protect themselves or assure a gain on resale.

It will not surprise me to see #775 soon make another appearance, fluffed and buffed, on BAT or some dealer web site.

[deathsled]

Agreed on all observations Mr. Collins.  However, in the forlorn distance on a lonely two lane road me thinks me hears the winding sound of a 426 Hemi engine in the Black Ghost 1970 Challenger.  $1,072,500.00 earlier this year.  https://www.mecum.com/lots/554000/1970-dodge-hemi-challenger-r-t-se-the-black-ghost/

Perhaps this Lime Green Shelby needed a little more story around it?  A legend surrounding the car?  Some victories on the street strip?  Something paranormal perhaps, as it comes out of the mist on an early Sunday morning to vanquish all who challenge it?  In any event, the buyer got a steal of a deal even though there are day two modifications and the color may not be popular. (I'd take any color all day long on a Shelby).  Hoping someone realized a long time dream.   

[Side-Oilers]

Woodgrain dashboard trim on a '67?    

I agree with Richard and Bill, but also want to add that it's very reminiscent of the kind of 10-15 year old daily-driver Shelbys I'd see in SoCal in the late '70s/early '80s.   It has an authentic back-in-the-day vibe...not merely another chicken-crap-covered "barn find" (hate that over-used phrase) with "patina" (I'm tired of that word even more) and a bunch of YouTube hype.

I'd be tempted to make it look as presentable as possible without repainting it or replacing the interior, and make it into a mechanically bad-ass (427 aluminum side-oiler, 4-wheel-disc brakes, improved suspension) fun driver & occasional track-day car.

You won't win many awards, but for those of us to whom awards are just something you look at once, then put into a box in the attic, it has more than a couple of positives going for it. Yeah, even in slime green.

I hope whoever bought it will consider enjoying it in its present cosmetic state before going full-concours-resto on it.

[roddster]

   I'm going to say "well bought".  Seems like a decent entry level GT 500 at a not-over blown price.  Hope some enthusiast bought it and not a flipper.
   Say what you want about the wood grain on the dash.  You could buy a kit from Warshawski & Company that had self stick Venier wood grain like that.

[s2ms]

May have missed it but......what is the small shifter w/ red  knob?  Hone-o-drive?

[deathsled]

Didn't know enough about the 67s to question the woodgrain dash.  Good catch, Van.  I don't imagine it would be hard to change back to a black camera case finish? I saw that the door handles and window cranks are non conforming.  Also the Hurst shifter and the rims of course.  But overall the body looks really sound and the day two mods are not out of line.  I think the lime green would really pop with some gold striping over the car and same for the side stripes instead of the white.  Then the color is more palatable to some perhaps.  I still think the buyer bought well.

[deathsled]

May have missed it but......what it the small shifter w/ red  knob?  Hone-o-drive?

I thought that as well or it could be a reverse lockout?

[sfm5]

There's also the purely financial consideration - to take #775 and bring it up to #706's level would require a high level restoration. Taking it to a reputable shop could easily get up into 6 figures, eating up most of the difference in the respective sales prices achieved. Your giving most, if not all that extra revenue to the resto shop. Like others, I prefer some Day 2, authentic looking and tastefully done mod's even if that means your car is not worth as much as a concourse level trailer queen. Different strokes I guess!

[deathsled]

There's also the purely financial consideration - to take #775 and bring it up to #706's level would require a high level restoration. Taking it to a reputable shop could easily get up into 6 figures, eating up most of the difference in the respective sales prices achieved. Your giving most, if not all that extra revenue to the resto shop. Like others, I prefer some Day 2, authentic looking and tastefully done mod's even if that means your car is not worth as much as a concourse level trailer queen. Different strokes I guess!

Yes you're absolutely right.  I mean the sheet metal would need to be taken down to bare and epoxy primered and all the nuts and bolts have their surface rust removed and coated with whatever the correct coating might be.  Maybe the engine needs an overhaul.  Unknown.  One could indeed spend a lot to get the car up to a trailer queen level.  Just drive it and enjoy it I say.