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I saw that yesterday. Neat find. I'm not sure I agree with the idea of replacing the 427 short block, others may disagree with me on that point. If it's a usable block (not needing overboring etc.), keep it and restore/rebuild as you do the rest of the car. A replacement block, although date matching, will never be the original block anyways. And that A/C looks interesting. Over the counter under dash Ford piece, or aftermarket? Car needs some work, but a lot of the original paint and hi-po Shelby bits are still there.
 

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I saw that yesterday. Neat find. I'm not sure I agree with the idea of replacing the 427 short block, others may disagree with me on that point. If it's a usable block (not needing overboring etc.), keep it and restore/rebuild as you do the rest of the car. A replacement block, although date matching, will never be the original block anyways. And that A/C looks interesting. Over the counter under dash Ford piece, or aftermarket? Car needs some work, but a lot of the original paint and hi-po Shelby bits are still there.
I agree on using the engine that's in the car. I'd try to keep it as close to the way you found it as possible while also upgrading some of the suspension and other safety features of the car to make it a safe/reliable car to drive. As you said, the engine isn't original but in all likelihood neither is any other engine you buy for it, even if it does have a similar date code. If one wanted to, they could always buy a 428 block that's stamped with a similar date code just to have as a spare in case you ever needed to rebuild the motor or wanted to swap it out or sell it down the road. That being said, when the guy says he has a "collection" of cars, I'm thinking he's not going to be selling it anytime soon, if at all.
 

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Interesting on the value. It kind of puts into perspective the $50k for the basket case 68 GT350(?) that someone was discussing the other day.
 

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As a former owner of a Nightmist blue 67 GT500 which I paid $25,000 in 2000. I picked it up in Vegas and drove it back to Fresno CA. Of course, times have changed. The 427 side oiler should not hurt the value and done right, it might help the value. Just from what I see I would say $40-45,000 on current value
 

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As a former owner of a Nightmist blue 67 GT500 which I paid $25,000 in 2000. I picked it up in Vegas and drove it back to Fresno CA. Of course, times have changed. The 427 side oiler should not hurt the value and done right, it might help the value. Just from what I see I would say $40-45,000 on current value
One must also take into consideration the idea of inflation. $25,000 was quite a bit of money back in 2000 and using an inflation calculator that comes out to be just under $40,000 in terms of today's dollar value. I think the $65k figure talked about in the video might be a little on the higher side but definitely not a bad deal for either the buyer or the seller as you can't find a fully restored Shelby GT-500 for under $150k or so now. Also, I'm not sure what month you bought your Shelby in back in 2000 but Gone in 60 seconds came out in June of 2000 and up until that point the demand for mustangs and Shelby's wasn't anywhere near what it is today. Since movies like Gone in 60 Seconds and Ford v Ferrari as well as Caroll Shelby's death, the value of mustangs and Shelby's has gone up tremendously. I remember 10-15 years ago you could buy pretty much a fully restored Shelby for $60k-70k. Now the replicas are being listed around that price and the originals, like this one, are starting around that. I do tip my hat to the buyer in the video, I'm sure he could've lowballed the seller and offered them $30,000, and they might've even taken it, but it sounds like he wanted to give them a fair price.
 

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I would put the engine back to original/correct for the car. The 427 was owner-installed, and given the hilarious mickey-mouse installation of the A/C (how about that hose routing? LOL), I wouldn't be inclined to repeat anything the previous owner did.

I also don't understand the comment that you'd have to upgrade the suspension to make it safe/reliable to drive. The cars drove brilliantly, and reliably, when new. Put it back to new, and it'll be brilliant again (and worth more for the effort).
 

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I also don't understand the comment that you'd have to upgrade the suspension to make it safe/reliable to drive. The cars drove brilliantly, and reliably, when new. Put it back to new, and it'll be brilliant again (and worth more for the effort).
Well the car has been sitting since what? 1972 or sometime around then I believe they said in the video? In almost 50 years I'd have to assume the brake lines would need replacing as well as ball joints, suspension parts and steering components in the very least as rust, corrosion, dirt/debris and so on has likely made them needing to be replaced or unsafe to drive in their current condition. For instance, the brakes freezing up making it so they couldn't move the car as is would make me a bit suspicious and go over the entire car, especially the brakes/suspension/steering with a fine tooth comb to see what needs replacing. If I was the buyer and spending $65k on the car, I wouldn't for some reason go cheap and not replace what needs to be replaced.
 

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I would put the engine back to original/correct for the car. The 427 was owner-installed, and given the hilarious mickey-mouse installation of the A/C (how about that hose routing? LOL), I wouldn't be inclined to repeat anything the previous owner did.

I also don't understand the comment that you'd have to upgrade the suspension to make it safe/reliable to drive. The cars drove brilliantly, and reliably, when new. Put it back to new, and it'll be brilliant again (and worth more for the effort).
I agree. Anyone can put a 427 in a Mustang or Shelby clone. And it's not like the 428PI with the dual-quad was a dog. In fact, I have done so. My "other" car had a replacement engine in it, thanks to a broken piston back in the day. Later, we replaced it with a year-correct block, and all correct externals. The only thing giving it away is lack of one letter at the end of the block stamp. I'll never put that letter there. Too much pride in taking it from a rusty (on the inside!) dead weight to a fully functional and correct 265 Power Pack with Duntov cam.
And I also agree the as-delivered suspension properly maintained was not a safety hazard by any stretch of imagination. The 67-70 big-block Mustang had exactly the same weight bias as the 5.0 Fox Mustang, which has a reputation as a good handler.
I'd pull that Mark IV air conditioning in a heartbeat. Good for a driver, back in the day.
 

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Well the car has been sitting since what? 1972 or sometime around then I believe they said in the video? In almost 50 years I'd have to assume the brake lines would need replacing as well as ball joints, suspension parts and steering components in the very least as rust, corrosion, dirt/debris and so on has likely made them needing to be replaced or unsafe to drive in their current condition. For instance, the brakes freezing up making it so they couldn't move the car as is would make me a bit suspicious and go over the entire car, especially the brakes/suspension/steering with a fine tooth comb to see what needs replacing. If I was the buyer and spending $65k on the car, I wouldn't for some reason go cheap and not replace what needs to be replaced.
When you said "upgrade", I falsely assumed you meant "modify"... So we're on the same page, because yes, it'll almost certainly need some fresh components to replace worn/failed. I would go 100% stock-replacements, that was my point.
 

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When you said "upgrade", I falsely assumed you meant "modify"... So we're on the same page, because yes, it'll almost certainly need some fresh components to replace worn/failed. I would go 100% stock-replacements, that was my point.
Upgrade probably wasn’t the best choice of words. That being said, one could always modify the suspension on this, or any other mustang if they really wanted to. On a rare car, like this one though, I’d try to leave it as stock and original as safely possible. Things that aren’t safe, like mentioned earlier, I’d definitely use NOS parts or something similar, if they’re available, and keep it as close to the way it would’ve rolled off the assembly line as possible.
 
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