When Ford approached Carroll Shelby to prepare a high performance version of the Mustang, Shelby got the idea to prepare a race-ready Mustang intending to dominate SCCA’s B-Production class and bring home an SCCA National Championship. With some suggestions from SCCA’s executive director, John Bishop, Shelby used the organization’s current rules to his advantage.

In order to be considered a production car, either the engine or the chassis could be modified, but not both. So, in working up the specifications for the GT350 Mustang, Shelby used suspension, brake, steering and other components that together would make the production GT350 perfectly suitable for competition. Potential warranty issues were also avoided by not modifying the 289cui K-code engine.

This left Shelby free to make what engine modifications he wished on the GT350R race cars. While only 34 of them were ever built, they could literally be driven from the showroom to the track and then home with a winner’s trophy in hand.

Photos: Mecum Auctions

The example here is the seventh R-model built, VIN SFM5R098. Delivered in May, 1965, to Ned Owen of Malvern, PA, the car was immediately given what became its trademark single wide Black stripe with Orange borders. This was to acknowledge Scott’s sponsor, Essex Wire, who was a supplier to Ford of wire and wiring harnesses. Owen would race the car in SCCA Northeast competition through 1967, winning at Bridgehampton and gaining several podium finishes.

Late that year, the car was sold to a Canadian racer, whose skill and luck held for two years before backing it heavily into a barrier. Without the resources or will to repair the car, it became a barn find waiting for discovery. That happened in 1981, when Rick Kopec found and purchased the car for $5,000.

In 1975, Kopec had founded the Shelby American Automobile Club with three other principals. He began the laborious process of collecting pieces for the restoration, which took another five years, but then Kopec handed the car over to Shelby noted restorer Chris Liebenberg.

It took three years for Liebenberg to complete the total restoration, which included sending the engine out for rebuilding by former Shelby service manager at Harr Ford of Worcester, MA, Gus Zuidema. Rebuilt to original specifications, the engine turned out a reliable 360 hp. The racer was refinished in original Wimbledon White paint and the Essex Wire stripe and graphics were reapplied.

During the next 18 years, he competed in over 100 races as well as dozens of conventions, open tracks, drivers schools, shows and other events and functions. For many of those years it was the only R-Model in the country being actively campaigned. Kopec explained his approach as, “I believe that a historical race car like this should be driven – not stored in a climate controlled garage and put on display at car shows. It would be like having a race horse like Man o’ War and keeping him in a small stall. You have to let him out in a big field to run. 5R098 likes to run.”

Having raced at every prominent track in the United States, 5R098 is likely the most high-profile, widely-exposed and historically accurate competition Shelby of all. The car was put up for auction in May of 2009, but did not sell with a high bid of $500,000. There are few competition Shelbys that would be more desirable than this one, certainly any of the six Daytona Coupes would be among them. The last one of those that sold went for over $7.2 million last year at a Mecum Auction.

If you’re looking for a collectible Mustang or Shelby, the next Mecum auction is scheduled for June 17-18 on the Minnesota State Fairgrounds, in St. Paul, MN. You can get more details at the Mecum Auctions web site.