68 GT500KR convertible sells for $300K in Houston

[67200F5A02206]

I was at the "Keels and Wheels" car show/auction in Houston this weekend. Some dealer from Oklahoma had brought several Shelbys to the auction. The only one I got to see auctioned was a black 68 GT500KR convertible. It was a very nice car done to concours standards and I did not see anything glaringly incorrect about it. Paint was superb. There was some (very minor) surface rust on some of the undercarriage so I assume that it was either an older restoration or the previous owner had actually been driving the car. Very nice car but definitely NOT the nicest one in the country. Any way the bidding shot up to $275K in a hurry and the reserve came off. From there two guys duked it out in $5K increments until they got to $300K. Auctioneer said that it was a world record price. I don't know about that but I follow the car market pretty hard and I have not seen or heard of one selling for this price before. Remember to take into consideration that this could have been a shill bid to generate some buzz.

Also a 1967 "Eleanor" got bid to $63K. It wasn't a very good one as far as Eleanors go. Painted it white with blue stripes and the interior was mostly stock Mustang or aftermarket stuff.

[redfish28]

I was there too. I sold my 1970 GT 500 SCJ. The KR sale was real as John Kruse knew the potential buyers were hot on that car. That is nothing but good news for my KR.

The Hemi thing is crazy. 71 Cuda for $950k. Hemi Bird went $320 and went home(he wanted $350). My friends Challenger went for $320.

What did you think of the silver jade 500 Convert? I think it was missing some things.

[67200F5A02206]

It started raining just as I was looking at the Silver Jade convertible. Took some pictures of it but did not notice anything in particular. Didn't really stand out one way or another.

I knew that 71 Cuda would go for big bucks. Anything 71 and Hemi is what the serious Mopar collectors want.

[stephen_becker]

I use to own the black KR CV that was sold - I bought it from the second owner out of Martenize, GA (near Augusta) - (late 1990's) - I sold the car to a guy named Larry Cleveland in CA who had the rotessery resto done - he sold it to worldwide muscle cars, late last year, for 185k - I was offered the car for the same money but I had a dozen Shelby's and was getting out of the business so buying another one was a defeat in purpose.

I guess I left a few $$$$$ on the table, BUT, I DO NOT trust auctions so the 300k number (to me) means NOTHING.

Congrats. to Mike at Worldwide for setting a world record

SGB

[redfish28]

I talked to John yesterday. The KR is headed to South America where the buyer lives. If you need an auction house that is ethical and no BS, John Kruse or World Wide Group (not Kruse International) is an awesome experience. 6 friends, including myself, sold cars there and everything happened the way it should.

http://www.thewwg.com/houston2006.cfm

Henry Bone