Ford Mustang Shelby — GT350, GT500, Eleanor

To the Ford Mustang Shelby classics (1965-1970) are The most valuable Mustangs in history., Modified by Carroll Shelby (the man behind the Cobra) from the Mustang base to create road-legal racing cars, only these were produced between 1965 and 1970. 14,368 classic Shelbys, divided into two main families: GT350 (small block, agility) and GT500 (big block, gross power). In 2026, European prices will be between 150 000 € (GT350 1966 base) and more than 1.2 million euros (GT500 “Super Snake” 1967).

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Photo: Wikimedia Commons — CC BY 2.0 — Jeremy from Sydney

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The Shelby timeline (1965-1970)

1965 — GT350 (562 units)

Only 562 units, All Fastback Wimbledon White stripes with Guardsman Blue stripes.
289 ci High-Performance “K-code” engine (306 real hp)
Borg-Warner T-10 4-speed manual gearbox required
No air conditioning, no radio, no back seat. (the first series in R-Code competition version)
36 units GT350R (pure racing car)
Value 2026: 350 000-550 000 € (GT350R: 1.5-2 million euros)

1966 — GT350 (2,380 units) + GT350H Hertz (1,000)

Less brutal body style (air conditioning optional, various colors)
GT350H Hertz — 1,000 units for Hertz Rent-a-Car (black paint with gold stripes, "Rent-a-Racer" storyline)
Engine retained as 289 K-code (306 hp)
Value 2026: GT350 180 000-280 000 €, GT350H Hertz 250 000-400 000 €

1967 — GT350 (1,175) + GT500 (2,048)

New bodywork (air intakes, hood vents)
GT350: 289 K-code (306 hp)
GT500 is born: 428 Police Interceptor engine (355 hp, but really 400+ hp)
1967 “Super Snake” version (1 known unit): 427 racing engine — sold in 2013 for €1.3 million.
“"Eleanor"” (from the movie) Gone in 60 Seconds 2000): custom modification of a 1967 Fastback. Official Eleanor replicas have their own value.
Value 2026: GT350 180 000-280 000 €, GT500 230 000-330 000 €

1968 — GT350 (1,253) + GT500 (1,140) + GT500KR (1,053)

GT500KR (“King of the Road”) — 428 Cobra Jet engine (335 hp advertised, ~410 hp actual)
First Mustang Shelby Cabriolet (404 GT350 + GT500 units combined)
Value 2026: GT350 150 000-220 000 €, GT500 200 000-280 000 €, GT500KR 250 000-350 000 €

1969-1970 — last original Shelbys (3,150 units)

More aggressive bodywork (side air intakes, functional hood, NACA ducts)
Engines: GT350 351 ci Windsor V8, GT500 428 Cobra Jet
Cabriolet available in both versions
1970 = remaining 600 units 1969 re-labeled with new chassis numbers ("last year" technically an extension)
Value 2026: GT350 150 000-220 000 €, GT500 200 000-300 000 €

Shelby engines per year

Year	Version	Engine	Announced power	Real power
1965-1967	GT350	289 ci K-code	306 cv	320 cv
1967-1968	GT500	428 Police Interceptor	355 hp	400+ hp
1967 (1 unit)	Super Snake	427 Side Oiler racing	520 hp	600+ hp
1968	GT500KR	428 Cobra Jet	335 hp	410 hp
1969-1970	GT350	351 Windsor V8	290 cv	310 hp
1969-1970	GT500	428 Cobra Jet	335 hp	400 hp

Ford deliberately underestimated The Shelby horses are sold for insurance and competition classification reasons. Actual values are typically 15-25 % higher than advertised.

Prices in Europe in 2026 (summary)

Version	Average Price in the EU in 2026	Great price, in excellent condition
1965 GT350	350,000 – 550,000 €	800 000 €+
1965 GT350R (racing)	1,200,000 – 1,800,000 €	2 500 000 €+
1966 GT350	180,000 – 280,000 €	380 000 €
1966 GT350H Hertz	250,000 – 400,000 €	550 000 €
1967 GT350	180,000 – 280,000 €	380 000 €
1967 GT500	230,000–330,000 €	480 000 €
1968 GT350	150,000 – 220,000 €	320 000 €
1968 GT500KR	250,000 – 350,000 €	480 000 €
1969-1970 GT350	150,000 – 220,000 €	300 000 €
1969-1970 GT500	200,000 – 300,000 €	420 000 €

Prices include import tax + EU VAT + Portuguese registration fee.

Critical documentation: SAAC and Shelby Registry

For any classic Shelby, the Shelby American Auto Club (SAAC) maintains the official historical record:

SAAC RegistryComplete history of each chassis, previous owners, documented modifications.
MCA Gold Card (Mustang Club of America): Certificate of Authenticity
Marti Auto Works ReportConfirmation of original Ford options.

Autozilla They won't sell a Shelby for over €200,000 without complete SAAC documentation.. For investments above €350,000, we also require SAAC Concours Inspection (a detailed report by an SAAC specialist).

Key points to consider when buying a Shelby.

Numbers-matching requiredOriginal engine and transmission. If replaced, there will be a 50% loss in value. %+
Duplicate VIN (“shadow” car)There are replicas and Mustang-based models "painted" like Shelby. See SAAC + Marti Report.
“"Re-shell"”Recovered chassis but with a new Mustang body. Common in 1965-1966. Loss of 60 % vs original.
Eleanor (Gone in 60 Seconds)There is only one "original" car from the film. All others are commercial replicas. Officially licensed Cinema Vehicle Services replica: €200,000–€350,000. Unlicensed replica: €80,000–€150,000.
Over-restored restorationsThey lose value compared to originals with patina ("survivor")

What Autozilla Does for You

Classic Shelby Sourcing via Mecum / Barrett-Jackson auctions + direct network of SAAC collectors
SAAC Registry Verification systematic (mandatory for any purchase > €150,000)
Marti Report Elite (more details from Marti)
MCA Gold Card where applicable
Chassis inspection On-site in the USA (criticism for Shelby on historical grounds) — paid service upon request.
Safe maritime transport in dedicated container + specific insurance
IMT Approval with historian's report

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Frequently Asked Questions

What is the price of a 1967 Shelby GT500 in Portugal? In 2026, a 1967 Shelby GT500 with matching numbers will cost between €230,000 and €330,000 in Portugal (show condition can reach €480,000). Prices include import + VAT + registration.

What is the difference between the Shelby GT350 and GT500? GT350 = small-block (289 or 351 ci V8), focused on agility and handling, a benchmark for the track. GT500 = big-block (428 V8), focused on power and straight-line acceleration. The GT350 is rarer (5,700 units total 1965-1970) than the GT500 (6,700). Current price: GT500 is slightly more expensive on average, except for the 1965-1966 GT350 versions which are the most valuable (rarity).

What is a Shelby "Eleanor"? Eleanor is the name of the fictional car in the movie. Gone in 60 Seconds (2000) with Nicolas Cage — a custom 1967 Mustang Shelby GT500 Fastback. This is not an official Shelby version.. Commercial replicas (Cinema Vehicle Services has an official license) range in price from €200,000 to €350,000, while unlicensed replicas start at €80,000. Be careful with the documentation and usage rights for the name "Eleanor".

What is a Hertz Shelby GT350H? In 1966, Shelby produced 1,000 GT350H units Specifically for the Hertz rental company. “Rent-a-Racer” program — you can rent a Shelby for the weekend. Characteristic cars: black paint with gold Hertz stripes. Many were raced and returned afterwards, creating a unique history. Value 2026: €250,000-€400,000.

Which Shelby is the rarest? A 1967 Shelby Super Snake (1967 chassis with 427 Le Mans racing engine) only one unit is known. Sold in 2013 for 1.3 M$. Other rare examples: 1965 GT350R (only 36 units, racing car), 1968 GT500KR Convertible (Only 318 units). All are worth more than €700,000 in show condition.

Can I make a Shelby replica from a Mustang base? Yes, it's legal and common. There are body kits (Maier Racing, Drake Muscle Cars) that transform a 1967-1968 Mustang into a "Shelby tribute". Price: €30,000-€60,000 on a base Mustang. But It's not as good as the original Shelby. — depreciates 70% % vs. authentic Shelby.

Is SAAC documentation mandatory? It's not legally required, but it is economically essential. A Shelby without SAAC documentation is typically worth 30-50 % less than one with confirmed SAAC registration. (Autozilla) does not sell Shelbys above €200,000 without SAAC confirmation.

How long does it take to import a Shelby? Complete process: 4-6 months. Sourcing + SAAC verification (1-2 months), sea freight (5-7 weeks), EU customs clearance (2-3 weeks), IMT homologation (4-8 weeks). For auction Shelbys (Mecum, Barrett-Jackson), sourcing can be faster if it's a specific scheduled auction.