Who Bought a $250,000 1968 Shelby GT500KR?

November 9th, 2011

A “barn find” story always warms my cockles.

In fact, I thought I’d struck gold once myself. On a random drive through my city I spotted a split-window Corvette, rusting, rotted, and sitting outside under a group of pine trees. While I briefly fantasized about picking up that car, storing it in my garage and restoring it to the luster it once had, my dreams were shattered when I discovered the “Spokane Split-Window” is pretty well known already thanks to being discovered by Google’s Streetview a number of years ago. The owner, for whatever reason, has no intention of selling.

Even if I did rescue the old car, I’m guessing it has reached the point of being un-restorable. Too bad, because I could be up to the owner’s house and have the car loaded up and safely in my garage within an hour.

While I prefer the kind of story where a random passer-by finds a rare, valuable forgotten classic and buys it for cheap, the kind where a rich celebrity buys a forgotten classic for a quarter-million dollars is pretty nice, too.

Add some mystery to the equation and things get fun.

Spokane split-window Corvette

"My" split-window Corvette

A story on Yahoo! Autos yesterday describes the case of a rare 1968 Shelby Cobra GT500KR. The top-of-the-line Mustang came stock with a 429-cubic-inch Cobra Jet V8 producing at least 335 hp.

As all of these classic-find stories go, the car was purchased new and given to a kid who went off to war. He returned from his call of duty and thoroughly enjoyed the car, adding a few modifications and taking it to the drag strip. At a quarter-mile at a time, the car accumulated just over 9,000 original miles when the owner died from cancer at just 32 years old. The grief-stricken parents stored the car in their garage over the next 30-some years and turned down all would-be suitors looking to score a deal on the muscle car.

Well, after both parents passed away, the car was released to the hounds by way of an auction house. As you might expect, a mostly-stock ’68 GT500KR fastback with under 10,000 miles on the clock proved to be a hot item, selling for about $250,000 in all of 75 seconds.

Who bought it? That remains a mystery. People present at the auction seem to think Jay Leno was the guy writing the check, which would make sense considering his penchant for pony cars. I just hope whoever bought the car enjoys it as much as the young man who owned it first.

Have you ever come close to finding a collectible classic car?

-tgriffith

Find Used Cars in Your Area at CarGurus

Used Chevrolet Corvette
Used Shelby GT500
Used Ford Mustang

Be Sociable, Share!

  1. tgriffith
    November 9th, 2011 at 19:29 | #1

    No, a 1990s Toronado won’t be a classic. But my dad restored a beautiful ’66 Toronado when I was a kid. Wouldn’t ever go for $250K today, but still a pretty nice ride.

  2. Randy
    November 9th, 2011 at 18:20 | #2

    I owned them before they were collectible. I saw an early 1990’s Toradado the other day and commented to my wife that my 1955 Chevy convertible was a much younger car when I bought it in 1968 than that Toronado is today. Yet, I doubt that Toronado will ever be a classic.

  3. Jim Redd
    November 9th, 2011 at 13:32 | #3

    It’s actually a shame that such cars are so damn expensive. New, that car was what, $4,500? It’s to the point where regular joes can’t own these classics anymore.

  1. November 9th, 2011 at 14:01 | #1
  2. October 30th, 2012 at 05:01 | #2