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

[67 GT350]

Don't we all know that BJ, M, etc. Play games? I have heard the stories....cannot deny it.

A first time Shelby buyer only has so much money and on that day MAYBE that was true market value on one of the cars. There are many Shelbys for sale for 75K up to 150K that are projects, to drivers, even they are all over the road. I wonder how many will just the line when selling their car, "One just went for XXXXX$$$ on Mecum, mine has to be worth that!" That phrase won't be used on one of them, I am sure! LOL

[s2ms]

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

Reverse lockout makes more sense, Hone-o-drive typically mounts differently.

[J_Speegle]

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

Not for a Hone-o-drive. Those were separate from a four speed shifter and on the side of the driveshaft tunnel

Believe your correct with the reverse lock out. Here is a picture of 67-2637 from back in the day with a different style Hurst shifter but the same arrangement though the knob is black. This was a straight line four speed shifter




Hone-o-drive shifter examples

[greekz]

That would be a brushed aluminum dash on a 1967.

[tesgt350]

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.

The Door Panels are Correct for the 67 Shelby.  The Dash should have the Stainless as well.

[shelbymann1970]

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.

Thanks Bill. I always enjoy your expertise on the market/types of buyers, etc. I just read where a seller said some buyers as of recently do not care about colors on some color changed cars. I believe you have been saying that a long time ago when discussing the types of buyers out there.

[shelbymann1970]

Don't we all know that BJ, M, etc. Play games? I have heard the stories....cannot deny it.

A first time Shelby buyer only has so much money and on that day MAYBE that was true market value on one of the cars. There are many Shelbys for sale for 75K up to 150K that are projects, to drivers, even they are all over the road. I wonder how many will just the line when selling their car, "One just went for XXXXX$$$ on Mecum, mine has to be worth that!" That phrase won't be used on one of them, I am sure! LOL

If you notice many time cars coming from a collection of a well known collector are the ones popping the big bucks(bidders trusting these cars as "good examples?). Other times it may be a well known papered car that is the best of the best like Charles 68 Shelby vert. It seems some of these collectors buy each others cars.

[Special Ed]

We were at the mecum indy auction and inspecting these 4 shelbys out of that collection and 2 guys we know bought 2 of them the 67 and 68 both were under the money. These cars came from long storage and nothing was done to them before taking to auction as they just got them running again. This was not the way to sell real shelbys as the seller should have hired a shelby dealer to sell them after some improvements they would have have been more sellable anyway as if you take away all mecum fees and taxes and transportaion cost and auction entry fees the seller didnt get what these cars were worth.

[shelbymann1970]

We were at the mecum indy auction and inspecting these 4 shelbys out of that collection and 2 guys we know bought 2 of them the 67 and 68 both were under the money. These cars came from long storage and nothing was done to them before taking to auction as they just got them running again. This was not the way to sell real shelbys as the seller should have hired a shelby dealer to sell them after some improvements they would have have been more sellable anyway as if you take away all mecum fees and taxes and transportaion cost and auction entry fees the seller didnt get what these cars were worth.

What about the 2 69 Shelbys. Did both of those sell for under market especially the vert?

[427heaven]

STAY AWAY FROM MECUM.....They are the ULTIMATE crooks and will F... You out of every last dime! There are better options-

[pbf777]

.....what is the small shifter w/ red  knob?

     If it hasn't been concluded, the little "red knob" is the "Reverse Lock-out" lever. 

STAY AWAY FROM MECUM............

     But, are they truly any worse then most of the others?   

     Nobody utilized the terminology of: "Absolute" or "Honest" auction, in the description of most any of these events!  Best just realize that these are more of some sort of carnivalized  automotive "Tent Sale" than anything else; and this with all of the shenanigans that go along with such!    
 
     Scott.

[67 GT350]

All of this reminds me of a BTO song, "Looking out for Number 1" That would be Bachman Turner Overdrive for some.

[deathsled]

All of this reminds me of a BTO song, "Looking out for Number 1" That would be Bachman Turner Overdrive for some.

If that's the case then is the auction house: "...taking care of business (every day)
Taking care of business (every way)
taking care of business (it's all mine)
Taking care of business and working overtime, work out..."

[427heaven]

I would lean more in the direction of BAD CO... Literally and figuratively! Love the vintage rock groups, not the 3rd grade mentality of Frank and some others at Mecum/Clowns 

[deathsled]

Good one! ^^