With Carroll Shelby’s passing last year, the automotive world lost a literal legend. Shortly after his death, prices of Shelby vehicles started skyrocketing, making these already-expensive rides even more outrageously priced. This trend has not showed any signs of slowing down either, especially when it comes to rare, well-kept cars like today’s auction find.
Mustangs Daily reports that this past weekend at the annual Barrett-Jackson auction in Palm Beach, Florida, a recently restored, mint-condition ‘68 Shelby GT500 convertible sold for an impressive $330,000. That made it the highest priced non-charity car to be sold at this weekend’s auction.
Why so much for this car? Well for one, it is one of just 402 ‘68 GT500 drop-tops built, making it an uncommon car, even on the auction circuit. A chance to buy these vehicles comes up about two or three times per year. Last year even primo examples of these cars were being sold for about $100,000 less than this, prior to the death of Carroll Shelby. Now $300,000 might be the new normal for a good Shelby.
Granted, this particular car is a numbers-matching vehicle that recently underwent an extensive three-year restoration. The fact that it still has the numbers-matching 428 V8 engine is a big boon for collectors, and this car received a 98.6% score at the SAAC event last year, making it all but perfect. No wonder it has so many awards and such a high price tag. Still, it is crazy to think how high prices for Shelby products have gone in just a few months. Madness, or a natural progression of the auction circuit? You tell us.
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