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69 GT-350 - Details if interested

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OK - I spoke to the owner today, and here are the details. (I assume that this is as advertised, a genuine Shelby)

- good body and fiberglass. No collision damage. Small rust in lower front corners of doors. Some rust on one torque box. Good floors. Color: red with gold accent stripes.
-black interior, complete in good condition. Dash is brittle. Still there are Shelby rollbar & inertia belts, and Shelby console and accent badges.
-Lucas foglights
- original alum. & steel mag wheels
- a non-a/c car, but does have power vent option (I'm told that's rare - I dunno)
-Koni shocks all around. Suspension in good, unrebuilt condition.
- 9" rear with 3.25 gears.
- 4 speed toploader transmission.

The car has been sidelined for about 6 months after it started backfiring through the carb. Changing plugs and wires did not help. I suspect a bad timing chain or bad valve(s).

Again, the owner is asking $18,500. Restored I'm told the value should be over $30,000.

I'm still working to get my fastback finished, but this seems like a good deal. It would be a stretch but possible. I don't know as much about the later Shelbys, so if you can give some advice or guidance please do. I think I'm interested as a fun resto for resale. It has to be an easier task than the rusty and incomplete mustang I'm working to fix. (but the GT is my dream car and I'll keep it).

Is this Shelby something I should pursue? Price guidance? Pitfalls to watch for?? Thanks for any help! Dickson

1965 GT fastback
There's a fine line between "hobby" and "mental illness: - Dave Barry
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Still crossing that fine line between hobby and obsession, huh?

Let me check your shorts! My multimeter is just a-waiting!
King of the Old VMF with >5000 posts, so ignore the titles here...I'm really THE Old Fart *LOL*

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According to the Mustang Price Guide 2000-2001 edition, a '69 Shelby GT-350 fastback in #1 condition is worth $30K (I'd guess that to be about $2-3K low right now).

A #2 car is worth $22K (call it 24-25K), so you can see how rapidly it falls off. All the way down at #5 condition, the value is listed at $8K. The difference between 2 and 5 is that 2 is a really nice car with no obvious flaws, while a 5 is an unrestored original showing major wear but still driveable.

That said, I think (as mentioned above) that the market has outperformed the guide, and this car sounds like it's about a weak #3 or strong #4, which the guide lists at $12-18K. I'd try an offer around $16K and see how firm the price is. If you have cash in hand that might be enough to seal the deal.

But I don't think you'll make a lot of money on this car, so just plan to keep it. /forums/images/icons/wink.gif

1969 Mach 1
1965 A-Code Convertible

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751 Posts
It depends on where you live. Up here in the Northeast (Boston Area), a #3 or #4 69 GT_350 would bring 30K easily. I think that 18K might be a little high based on the description. 15-16K would be a very fair deal in my least up here. Actually, when it comes to Shelby's, the area you live does not play into the price like it would a plain ole Mustang. SO 15-16 K would be fair no matter where you are.

OOOHHHH would I like to own a 69 GT_350. argh argh argh

69 Fastback 302 2v 3sp. trans.

A #3-#4 '69 GT-350 most certainly will NOT bring 30K or more in the Northeast. Values do not sway that radically just by region, that's a load of rhetoric. All it takes to buy a car in another part of the country is a $400 plane ticket. If the aforementioned northeastern value were true, what type of insane bozo would pay that type of crazy money simply because they're standing in the rust belt, rather than simply purchase a car elsewhere in the states and pick it up over a long weekend? There was a low#2 GT-500 at Hershey, PA with a 35K price tag, and no takers, if that's any indication. I think the 16K offer suggestion is close to the money, yet still a smidge pricey considering the entire car sounds like it needs to come apart, every last nut. That rust in the torque box also could be an indication of more hidden cancer to come elsewhere in the car, demanding a full dismantling. GT350's seem to top out in perfect #1 show-competetive condition at around $35K. You've got to ask yourself, "can this car be restored to a high standard for under 35K, including purchase price?" Maybe, it's hard to give advice on a car I can't see.
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