$120,000 is quite a chunk of change. It’s enough money to give a kid an Ivy League education, to outright own a home and to create a good portfolio. But let’s face it, if you had $120K you would buy this original 1968 Ford Mustang Shelby Cobra GT500KR.

The seller posting it on Craigslist claims the car only has 75,000 original miles and is rust free, which if true is excellent since this car is currently in Tampa, Florida.

The car has been garage kept and it still runs and drives. It was repainted its current black with red stripes in the early ’80s and its interior has a few minor wears and tears. This king of the road is just 1 of 125 cars to leave the factory with a 4-speed and air conditioning.

In 1968 the Mustang Shelby GT500KR received one of the most innovative and powerful motors: the 428 Cobra Jet. The Cobra Jet was a modified 428 Police-Interceptor engine with better breathing heads and larger exhaust manifolds for increased performance.

It was officially rated at 330 horsepower but this was significantly underrated for insurance purposes as it really it had just north of 400 horses and 440 lb ft of torque. The Cobra Jet had a 735 Holley 4-barrel carb, 10.6:1 compression (a few cars had optional drag racing pistons with 12.5:1 compression) and was bolted to a Ford Toploader 4-speed manual transmission. It had a 0-60 of 6.8 Seconds and could race down the quarter mile in 14.04 seconds @ 102.73 MPH.

To brag and boast about its new performance mill, Ford gave the GT500 a much deserved title: King of the Road. For 1968 all Mustang GT500s were sold as King of the Road, a badge that they wore proudly on on their lower quarter panel.

Original 1968 Shelby GT500KRs are rare and seldom seen these days. From other examples we’ve found, an asking price of $120K seems to be the norm. Even with some minor wear and tear do you think this car still deserves six figures?