[zray]

Spell check strikes again

I don’t know the entirety of the OP’s family circumstances, we have his side of things plainly enough.

When I was a kid / teenager / in the dangerous 20’s , I was bad with money. My dad was always there to bail me out as much as he could. I guess that made him bad with money too.

I learned from his generosity. Which looking back on my years with him, was a more valuable lesson than being good with money.

I suppose he might’ve refused to help me out in order to try and teach me a lesson about being better with money.

But I like the more valuable generosity lesson better.

Not a comment on the OP’s question, just reminiscing, and wishing I had just one more day with dad, the bravest guy I ever knew.

Z

PS way off topic, I know.

 

[fmoreno]

This article here gives a fairly recent price -> https://www.motortrend.com/features/1968-shelby-gt500-fastback-mecum-auctions-harrisburg/

But if it needs body work & a show car paint job - $30,000. If you want the original 428 SCJ in it, your going to have to look pretty hard. There is a fully rebuilt CJ on ebay for $20,000, but maybe you could do it yourself for less.. My guess - a full restoration for $80-100,000. So subtracting that from the price in the article would put you at $100,000. Just my guess. Good luck!

Thank you. Most helpful

 

[fmoreno]

It’s worth lots even as a non running vehicle that needs restoration. If you have to ask, you don’t have enough. I’d say $40k as just a roller, complete car, non-runner, clean title.

I have enough, thanks.

 

[fmoreno]

Given the current condition of the 1968 Shelby GT500KR, a fair price for a non-running car that needs a complete restoration would likely be between $30,000 and $50,000. The missing original 428 engine and body damage significantly impact its value, but it remains a highly desirable collector's item. Restoration costs could exceed $80,000, so this range considers both the cost of restoration and the vehicle’s collectible nature.

Thanks. Very helpful.

 

[fmoreno]

I respectfully disagree with the estimates above.

...you will be hard pressed to find any Shelbys under $50k (probably under $75k today) and restoration costs will easily exceed $150k unless you are a Shelby expert or a paint and body man.

...there are a lot of factors that go into determining the price. You would need to provide a lot more information. You could easily be missing parts that exceed $10,000 even if you had the engine and the car would still run and drive.

The GT500 KR has many unique parts, like carb, starter delay, air cleaner, smog, etc

unfortunately, the value minus cost to restore equation is not applicable here

Thanks. I was unaware parts on a Shelby might be hard to come by and expensive. Since I’m not looking to flip it the restoration costs wouldn’t be a factor. Your post is really helpful.

 

[fmoreno]

Make the car complete and running. Then restore the body. Do the interior last. I'd recommend getting a 428 for the car.

The GT500KR part will increase the cost somewhat, especially if you are missing things like the restart relay ($). Gather parts for the engine change first. No sense putting money into the non-running 351. The transmission will have to be changed, too.

Don't worry about the value. A family piece like that is unique.

I recall a 69 convertible (200/C4). Had rusted to the point that it was unsafe to drive. Original owner (dad) brought it in, for estimate on making it safe. Decided he'd think about it. Thought about it for a few years, and died. Family asked what it would cost for complete restoration. Price was maybe double what it would be worth when done. They said "fix it". They were delighted with the results. It was Dad's car, after all.

It’s a unique family piece- spot on. Thanks!

 

[fmoreno]

So what you need to know is what a no longer original project car like yours would typically bring, and that the cost of restoration is another worry for another day, correct?

I'm no expert, but others can probably give a good answer if you post some pictures.

That is correct. I have no idea what’s missing, and neither does he. I know he doesn’t have the original seats or steering wheel and such, but maybe he has them stored. That’s just to start. But the good people here have given me a good approximation.

 

[fmoreno]

my 2 cents based on the last 2.5 years restoring my 69 mach I and spending way too much time on BAT watching other auctions.

My best guess is at his point is I will have about $250 to $275k in the total restoration including the initial acquisition cost of the car. I know I will have more in it than i could probably sell it for after the restoration. My choice, since this is an introductory show unit car and one I have wanted for most of my life (my first car was a 68 289 2v with factory air).

Having said the above i think the approach 1968KR outlines is very valid. The KR probably has 2-5 times the unique parts as compared to my Mach AND at at prices 2-5 times more.

Time is both your friend and your enemy. Time allows you to locate the correct parts BUT during that same time you will see the harder to find parts increase in price as they become more scarce.

Check out some of the auction sites. even poorly restored/maintained cars can go in the mid $100's and those are running examples.

Currently a CJ block will run from $3-5K a transmission around $3k PLUS some parts and rebuild costs.

The correct carb for the KR also in the thousands, unless you get really lucky.

Since it is going to be kept in the family maybe sit down with your dad and review all of this and show him the auction sites with cars in similar and also running condition. Then decide a fair price and talk about what you want the car to be once its restored.

Family driver that turns heads? Maybe $100k in restoration costs. Just a guess without more info and photos of the car in question.

Thank you. That’s a lot of good info not mentioned yet. I appreciate you taking the time.

 

[cougar70]

Hopefully, your dad hasn't sold all the rare and valuable parts and will include all the parts you can find in storage.

 

[Helmantel]

Thanks. I was unaware parts on a Shelby might be hard to come by and expensive. Since I’m not looking to flip it the restoration costs wouldn’t be a factor. Your post is really helpful.

All those parts are needed to make it a 100% correct concours restoration (and a car that brings top dollar when selling), but for a fun car that you keep in the family, you could take some short cuts, and the car would still be a Shelby. For example, without a 428CJ engine, it's not really a GT500KR anymore, but without the expensive starter delay it still is.

 

[fmoreno]

SAAC Forum - Index

SAAC Forum - Index

www.saac.com

Thank you!

 

[fmoreno]

Good points even though it’s not the issue. The siblings won’t give him money, and eventually will fight over the car. My feeling is if he has assets, why not buy them so he can use the money while alive rather than someone else get it when he’s dead.

2 years ago he got in financial trouble. I knew he’s had a convertible 1972 Mach 1 stored and literally unseen by anyone since 1990. It was not running when he bought it. I bought it sight unseen and paid too much, but the cost wasn’t the issue. I needed the car like I needed a hole in the head. It’s a full restoration project, like this Shelby.

I cant continue to overpay for assets when he continues to be irresponsible and not listen to anyone.

My mom agrees. Buy it for market cost, it helps him out, and avoids future complications with the family.

 

[Master Hack]

If I was dad I would find someone who WILL overpay for the car and sell it to them.