5s053 at RM Sotheby's

[sfm5]

Coming up for auction in Monterey next month:

https://rmsothebys.com/en/auctions/MO18/Monterey/lots/r0094-1965-shelby-gt350/693240


The GT350 offered here, chassis no. SFM 5S053, is an outstanding example of a true automotive legend. Starting with Ford's already exceptional "K-Code" Mustang fastback, Carroll Shelby and his team at Shelby American stocked the GT350 with numerous suspension upgrades, improved safety equipment, and provided the engine with approximately 35 more horsepower than the standard Ford "Hi-Po" 289 V-8. The end result was a production class-racing dynamo which easily met the challenge from other cars of the day, including the Jaguar E-Type, Sunbeam Tiger, as well as archrival Corvette. To this day, the GT350 remains an ever-popular choice for vintage racing and touring events around the world.


Chassis 5S053 is one of the earliest examples produced and known as a "two-digit" car. The early GT350s, numbers 015–113, were the group of cars produced for homologation for SCCA racing. Additionally, given the early production sequence, this example benefits from the trunk-mounted battery, which appears (approximately) on serial numbers 001–338. The battery relocation was found to be one of the more time-consuming modifications, and in the interest of saving time, the battery was left in the front of the car on later production examples. In addition to the relocated battery, the early production cars benefit from unique features, including their fiberglass hood design and construction.


According to the SAAC Shelby Registry, 5S053 was received by Shelby American on 23 December 1964; Shelby completed the car on 17 March 1965. It was shipped just three days later, on 20 March 1965, to Tasca Ford Sales, Inc. of East Providence, Rhode Island. The Shelby Mustang's first owner was David A. Sartrys of nearby Bristol, Rhode Island. The car then spent time with several owners in Maine, Connecticut, and Maryland before finding a new home in St. Clair Shores, Michigan, in 1984. It is under this owner, Robert Varcoe, that the car is believed to have been comprehensively restored, leading to a 2nd place finish at the Shelby American Automobile Club (SAAC) concours in Dearborn, Michigan, in early July 1986.


The car was then sold in August of 2000 to Matthew Morrison of York, Pennsylvania. It stayed with Mr. Morrison until 2007, when it was shipped across the country to Ayman Nassar of Palo Alto, California. The car has since passed through the hands of well-known West Coast enthusiasts, before returning to Connecticut and the care of the consignor.


Despite debuting more than 50 years ago, the GT350 remains a dramatic and visceral driving experience. There is nothing subtle about the car; it is designed to go fast, handle well, and of course to look good while doing both. GT350 5S053 is certainly no exception to this long-established rule. It presents in beautiful condition throughout and remains overwhelmingly original. It retains its correct engine block, heads, timing covers, and carburetor, as well as the proper date-coded GT350 fenders. Though an upgraded five-speed transmission is currently fitted in the car, the correct aluminum T-10 transmission is included with the sale.


This car will make an ideal companion for vintage touring or racing events, or, with appropriate detailing, a return to the show circuit, where it is sure to make a scene.

[sfm5]

Sold for $379K inc buyers fee.

[camp upshur]

Wow, 5S053 $379k w/ fee and 5S421 $379k w/o fee? (10%??)
Anyone get a chance to see them in person?

[BGlover67]

The estimate was $350,000 - $450,000.  I've been wondering, how do the veterans of this hobby feel about seeing prices topping half a million for concourse '65 GT350's?  It wasn't that long ago that they could be had pretty reasonable.  Up to late 2012, average price was about $150,000.  Hagerty price guide (which I understand should be taken with a grain of salt), claims the average price for '65 GT350's is $382,00 (that's a no. 3 good condition).

Do you think there will come a time when we'll think back and say, wow, I should have bought one when they were only $380,000, like the Cobras!

[SBCARGUY]

Wow, 5S053 $379k w/ fee and 5S421 $379k w/o fee? (10%??)
Anyone get a chance to see them in person?

I saw 421 not 053... I think both were probably very fairly priced with buyers premium.

[J_Speegle]

Do you think there will come a time when we'll think back and say, wow, I should have bought one when they were only $380,000, like the Cobras!

Maybe - someone always does that. Kind of like thinking what one would have done if they had purchase on at $30,000.  But then you have cashed out when they it a quarter of a million? No different than the stock market mental exercises.

Believe more will notice less and less of them at shows, conventions and of course on the road

[sfm5]

The estimate was $350,000 - $450,000.  I've been wondering, how do the veterans of this hobby feel about seeing prices topping half a million for concourse '65 GT350's?  It wasn't that long ago that they could be had pretty reasonable.  Up to late 2012, average price was about $150,000.  Hagerty price guide (which I understand should be taken with a grain of salt), claims the average price for '65 GT350's is $382,00 (that's a no. 3 good condition).

Do you think there will come a time when we'll think back and say, wow, I should have bought one when they were only $380,000, like the Cobras!

There were some discussions about this on the forum V1.1, with the steady rise in prices since 2010. I know some people looking to buy a '65 GT350 that were waiting for a "price correction" during that time and soon found themselves priced out of the market. The case could be made that '65s could follow Cobra pricing, since there are only 500 or so GT350s (compared to 1000 or so Cobras). There's also the racing provenance of the competition models that makes the '65 attractive to big time collectors who are willing to pay big bucks for a nice clean example. IMHO.

[CharlesTurner]

It's mostly to do with supply/demand, plus the low production numbers.

Looking at the pics of 056, would have to say the $$ was about right.  Would need quite a bit of work to bring it up to concours condition.  Great car to get in and drive as it is now.

[camp upshur]

When considering the cost of these cars, it's easy to forget/not consider that-besides the buyer's commission- in Monterey that friendly little culprit....sales tax (8.75%).
The buyer of the $379k hammer price 5S421 would be at at $453k before all of the smaller secondary ancillary fees begin to accrue.

As we see the price/value of these cars can be significantly different from the hammer price.

[J_Speegle]

When considering the cost of these cars, it's easy to forget/not consider that-besides the buyer's commission- in Monterey that friendly little culprit....sales tax (8.75%).

Good point  - Jerry  needs his money for the "bullet" train and his Delta water tunnel project

[CharlesTurner]

When considering the cost of these cars, it's easy to forget/not consider that-besides the buyer's commission- in Monterey that friendly little culprit....sales tax (8.75%).
The buyer of the $379k hammer price 5S421 would be at at $453k before all of the smaller secondary ancillary fees begin to accrue.

As we see the price/value of these cars can be significantly different from the hammer price.

Isn't that only if it stays in California?  Believe if it goes out of state, the buyer is only liable for whatever their state tax rate is.

[camp upshur]

Correct, pay sales tax where you register (I'm a Californian).

[J_Speegle]

Isn't that only if it stays in California?  Believe if it goes out of state, the buyer is only liable for whatever their state tax rate is.

Every state has different rules so it likely depends on where you reside if you don't live in Calif. Know people have problems all the time when they cross over to OR and buy a new or used car where there is no sales tax.  Know guys that purchased really low mile cars (5-10 years old that never did end up registering or licensing them in Calif because of all the requirements and issues

[SBCARGUY]

When considering the cost of these cars, it's easy to forget/not consider that-besides the buyer's commission- in Monterey that friendly little culprit....sales tax (8.75%).
The buyer of the $379k hammer price 5S421 would be at at $453k before all of the smaller secondary ancillary fees begin to accrue.

As we see the price/value of these cars can be significantly different from the hammer price.

No...5S421 was $379k "all in"

[SBCARGUY]

When considering the cost of these cars, it's easy to forget/not consider that-besides the buyer's commission- in Monterey that friendly little culprit....sales tax (8.75%). 
The buyer of the $379k hammer price 5S421 would be at at $453k before all of the smaller secondary ancillary fees begin to accrue.
As we see the price/value of these cars can be significantly different from the hammer price.

Isn't that only if it stays in California?  Believe if it goes out of state, the buyer is only liable for whatever their state tax rate is.

Correct...