Shelby GT350
Carroll Shelby's high-performance version of the Mustang, built from 1965-1970, featuring extensive modifications including a modified 289 or 351 engine, upgraded suspension, racing-inspired interior, and distinctive bodywork. Not a Ford production car—Shelby American built these at a separate facility in California (1965-66) and Michigan (1967-70). Also: the reason a 1965 fastback worth $50,000 becomes worth $300,000-$500,000 when it has "Shelby" stamped on the VIN—assuming it's real and not one of the hundreds of clones flooding the market.
What 'Shelby GT350' Actually Means
The Shelby GT350 was Mustang-based but significantly modified by Shelby American, Carroll Shelby's performance company.
Production years and changes:
1965-1966 (Venice/LAX facility):
- Hand-built at Shelby American (Los Angeles)
- 289 Hi-Po engine (306 HP claimed)
- 4-speed manual only
- Stripped interior (competition-oriented)
- Fiberglass hood with scoop
- Side exhausts (race car aesthetic)
- R-Model (race version): Even more extreme
- Production: 562 (1965), 2,380 (1966)
1967 (Shelby American, LAX):
- 289 Hi-Po engine (306 HP)
- More civilized (back seat added)
- Fiberglass hood, front end
- Roll bar standard
- Production: 1,175
1968-1970 (A.O. Smith, Michigan):
- 302 (1968), 351 Windsor (1969-70)
- Luxury features added (A/C optional)
- Fiberglass body components
- Less race-oriented, more street car
- Production: 1,253 (1968), 1,085 (1969), 286 (1970)
Total production: ~6,800 Shelby GT350s (all years)
The Shelby difference:
Not a factory Mustang option. Shelby American pulled cars from Ford assembly line, stripped them, modified extensively, then sold as Shelby GT350.
I've judged Shelby clones at car shows. Owner swears it's real. VIN shows regular Mustang (5F09...). I ask politely for Shelby registry documentation. They fumble. I move on. Real Shelbys have VIN 6S09..., not 5F09... Know the difference or you'll buy a $50,000 clone thinking it's a $350,000 Shelby.
Why It Matters for Your Mustang
Shelby GT350 represents the pinnacle of early Mustang performance and collectability.
Value comparison (1966 fastback):
- Regular 289 fastback: $45,000-$70,000
- K-code fastback: $70,000-$110,000
- Shelby GT350: $250,000-$450,000
- Shelby premium: +$180,000-$380,000
Most valuable Shelbys:
- 1965 GT350R (race version): $800,000-$1,500,000+
- 1965-66 GT350 (street): $250,000-$500,000
- 1967 GT350: $150,000-$300,000
- 1968-70 GT350: $100,000-$200,000
Factors affecting value:
- Year (earlier = more valuable)
- Originality (numbers-matching)
- Documentation (Shelby registry, history)
- Condition (concours vs driver)
- Rarity (R-model, special colors)
Investment potential:
Shelby GT350 values have appreciated 500-1,000% over 30 years. Among best-performing classic car investments.
Cost Impact
| Repair Type | Typical Cost (LA) | Labor Hours |
|---|---|---|
| Body and paint | $30,000–$60,000 | Fiberglass components, concours-level |
| Engine rebuild (289 Hi-Po Shelby) | $15,000–$30,000 | Shelby-specific modifications |
| Transmission (T-10 4-speed) | $3,500–$6,000 | Rebuild or correct replacement |
| Suspension (Shelby components) | $8,000–$15,000 | Koni shocks, competition springs |
| Interior (correct Shelby) | $12,000–$25,000 | Roll bar, racing seats, wood wheel |
| Shelby-specific parts | $15,000–$40,000 | NOS or correct reproductions |
| Documentation/authentication | $2,000–$5,000 | Registry, Marti, expert verification |
| Labor (assembly, detailing) | $20,000–$50,000 | Concours-level assembly |
*Total Shelby restoration: $105,000–$231,000. LA labor rates: $110–$140/hour for specialized work. Shelby-specific parts rare and expensive. Concours-level required (Shelby too valuable for driver quality).
Ask me how I know these numbers.
Common Issues
Clone/Fake Shelby
Regular Mustang with Shelby badging—VIN starts with 5F (Ford) not 6S/7S/8T (Shelby)
Missing Registry Documentation
Not in SAAC registry = not authentic Shelby
Incorrect VIN Format
Shelby VIN must start with 6S (1965-67) or 8T/9T/0T (1968-70), not Ford 5F/6F/7F
Missing Shelby-Specific Parts
NOS Shelby parts extremely rare and expensive—many restorations use incorrect parts
Fiberglass Component Damage
Shelby hoods, front ends prone to cracking—expensive to repair correctly
See This in Action
- Shelby GT350 Authentication Guide
VIN verification, registry lookup, and clone detection strategies
- Is a Shelby GT350 Worth the Premium?
Value trends, restoration ROI, and market outlook
Want to Learn More?
Download the Mustang Restoration Starter Kit (LA Edition) for:
- Complete terminology reference guide
- Cost estimation worksheets
- Pre-purchase inspection checklist
- Shop interview questions
- Project timeline planning tools
No upsells. No bait-and-switch. Just the information Dorian wishes he'd had before he bought his first project car.