BaT Auction: 1968 Shelby Mustang GT500 Convertible 4-Speed

This 1968 Shelby Mustang GT500 convertible was built in March 1968 at Ford’s Metuchen, New Jersey plant and was delivered new to Yates-Stevens Ford Inc. of Kirkwood, Missouri. The car also spent time in Illinois as well as Arkansas, and the selling dealer acquired it in early 2020. Finished in Sunlit Gold with a white soft top over a black interior, the car is powered by a replacement 428ci V8 paired with a four-speed manual transmission. Additional equipment includes 15″ wheels, front disc brakes, an AM radio, and factory air conditioning. This Mustang GT500 is now offered in Texas with a build sheet, a Deluxe Marti report, sales documents from the 1970s and 1980s, a binder of partial records since that time, an owner’s manual, a parts catalog, and a clean New York title.

1968 Shelby Mustang GT500 Convertible 4-Speed

The car was delivered new in Sunlit Gold (Y) with a white soft top, and GT500 equipment includes a twin-scoop hood with vents, side scoops, a rear spoiler, and a Shelby-specific tail panel and taillights. The seller notes that the powered top requires assistance, and each side of the car is shown up close in the photo gallery below.

1968 Shelby Mustang GT500 Convertible 4-Speed

15″ 10-spoke wheels wear Shelby center caps and Goodyear Polyglas GT white-letter tires. Factory equipment included power-assisted front disc brakes and steering.

1968 Shelby Mustang GT500 Convertible 4-Speed

The cabin is equipped with a roll hoop and Décor bucket seats with black upholstery over black carpeting. The armrest console features woodgrain trim that extends across the dashboard and the door panels. Amenities include a Philco AM radio, a tilting steering column, and air conditioning, which reportedly does not blow cold.

1968 Shelby Mustang GT500 Convertible 4-Speed

The two-spoke steering wheel bears a Shelby Cobra center badge and sits ahead of a dashboard with a black top pad. Instrumentation includes a 140-mph speedometer, an 8k-rpm tachometer, an analog clock, and auxiliary gauges, including two mounted in the center stack. The five-digit odometer shows just under 50k miles, and true mileage is unknown.

1968 Shelby Mustang GT500 Convertible 4-Speed

The replacement 428ci V8 is topped with a four-barrel carburetor with a Cobra air-cleaner assembly and matching finned valve covers. Factory output for a period 428 was 360 horsepower and 420 lb-ft of torque, and additional features under the hood include a curved Monte Carlo bar and a one-piece export brace. The selling dealer states that the engine utilizes a warranty replacement block, the engine bay was refinished approximately 20 years ago, and the fluids were changed in 2020.

1968 Shelby Mustang GT500 Convertible 4-Speed

The car was delivered new with a four-speed manual transmission and a 3.00:1 rear axle ratio. Additional photos of the underside are presented in the gallery.

1968 Shelby Mustang GT500 Convertible 4-Speed

The factory build sheet is also depicted in the gallery and will accompany the car along with an owner’s manual, a parts catalog, and previous sale records.

1968 Shelby Mustang GT500 Convertible 4-Speed

The Deluxe Marti report lists the original selling dealer, the factory gold on black color scheme, optional equipment, build statistics, and a production date of March 21, 1968.

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The video above includes start-up and driving footage from inside the car.

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