To paraphrase Will Ferrel’s character Mugatu from Zoolander, “Shelby, so hot right now.” The new GT350 and GT350R are among the most in-demand sports cars in the world, and classic Shelbys are commanding a higher premium on the auction circuit than ever before. But there is a limit to what people are willing to pay, even for some of the rarer and better known Shelby classics.
Even in perfect condition, a Shelby GT350H is a low six-figure car, selling for between $100,000 and $200,000 at auction regularly. So the $80,000 asking price for the rusted remains of this ‘66 GT350H on the South Chicago Craigslist seems to be overshooting the mark by, well, a lot.
Now this Shelby GT350H does have a few things going for it, including just a single owner (Hertz, we’re guessing?), what appears to be the original 289 Hi-Po V8, and the faded remains of its original paint. It’s also had a bit of weight reduction thanks to some aggressive oxidization, especially along the bottom quarter of the car. We’re almost afraid to see what the underside looks like, especially considering how bad the rear end is sagging.
However, the interior looks mostly dry and intact, and it is still a Shelby GT350H, after all. An appraisal put the “fair market value” of this rusty Shelby at a somewhat-more-reasonable $68,000. Restoration costs would likely run into six-figures though, leaving little if any profit potential for a car flipper. No, whoever ends up with this Shelby will restore it only as a labor of love, a chance to preserve a piece of history at great cost to themselves.
That’s the kind of hero this Hertz Shelby needs, because only the purest of intentions can save this Mustang now.