FIRST SHELBY G.T.500E CONVERTIBLE FETCHES WORLD RECORD $550,800

[rshelby]

FIRST SHELBY G.T.500E CONVERTIBLE FETCHES WORLD RECORD $550,800 AT BARRETT-JACKSON PALM BEACH AUCTION
Blue on Blue and White Drop Top Shelby Attracts Collectors and Enthusiasts

PALM BEACH, Fla., April 2, 2005 – The first 1968 Shelby G.T.500E convertible was sold for a world record $550,800, including auction fees, during the 3rd Annual Barrett-Jackson Palm Beach Collector Car Auction on April 2, 2005 at the South Florida Expo Center in Palm Beach, Fla. After a spirited battle for the drop top, the winning bidder captured the only documented Shelby G.T.500E convertible in the world.

“Shelby vehicles continue to attract collectors because the cars offer spectacular performance, sizzling good looks and exclusivity,” commented Craig Jackson, president of the Barrett-Jackson Auction Company. “We’ve auctioned the first car of a continuation Shelby model three times, and each one has attracted record prices. We’re excited that another Shelby world record was set at a Barrett-Jackson Auction.”

Demand for genuine Shelby vehicles continues to climb, with vintage and continuation Shelby Cobras and Mustangs are fetching record prices. At the 2005 Barrett-Jackson Auction in Scottsdale, Ariz., a 1963 Shelby 289 Cobra set a world record at over $366,000 including bidders fees while a 1968 G.T.500KR convertible also set a record when it crossed the block at a price of over $200,000.

Built by Unique Performance for Mr. Shelby, the genuine G.T.500E convertible is the latest in the Shelby continuation series. The Shelby G.T.500E convertible, #CSE-001C, featured a small block, aluminum V-8 with fuel injection. This one-of-a kind Shelby also included a five-speed TKO Tremec transmission and a Unique Performance Parts rear suspension upgrade. The convertible was finished in white with blue racing stripes and a padded roll bar in the blue interior.

Every vehicle built in the continuation car program receives an official Shelby serial number and will be included in the next printing of the SAAC registry. This vehicle was the first documented Shelby G.T.500E convertible, giving the new owner a rare opportunity to snag an original piece of automotive history.

“A Barrett-Jackson auction is the perfect place to offer a genuine Shelby car,” said Douglas Hasty, president and CEO of Unique Performance. “Their buyers prize style, performance and collectability. And we’re proud that a portion of the sale of this special car will benefit the Carroll Shelby Children’s Foundation.”

Legendary racer and automotive manufacturer Carroll Shelby, following years of heart-related difficulties which culminated in a successful heart transplant, created the Carroll Shelby Children’s FoundationÔ (www.shelbychildrensfoundation.org) in 1991. The organization is dedicated to providing assistance for acute coronary and kidney care for young people who share many of the same afflictions.

The first G.T.500E was sold at the 2003 Barrett-Jackson Scottsdale event for a world record $194,400 including fees. The next year, the first production G.T.350SR was sold for $159,000.

The Barrett-Jackson Palm Beach Auction is scheduled for Friday, April 1st to Sunday, April 3rd, 2005, at the South Florida Expo Center in Palm Beach with the gala night on Thursday, March 31. This year’s banner event includes over 400 quality collector cars with exclusive TV auction coverage by SPEED Channel. For more information, please visit www.barrett-jackson.com.



About Barrett-Jackson Established in 1971, Barrett-Jackson specializes in providing products and services to classic and collector car owners, astute collectors and automotive enthusiasts worldwide. The company produces the “World’s Greatest Classic Car Auction” in Scottsdale, Ariz., and has expanded to other venues including Palm Beach, Florida and Southern California. For more information, visit www.barrett-jackson.com or call (480) 421-6694.

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Media Contacts
Person: Scott Black
Agency: TimePiece PR
Phone: (214) 520-3430 ext. 303
Email: sblack@timepiecepr.com

http://www.barrett-jackson.com/event....asp?id=180735

http://www.barrett-jackson.com/about...pb05Shelby.asp

[rshelby]

That's an absurd price for one of these new/old cars. I think I took a picture of this car last October as it ws being built. See below.

[daltondavid]

Now Randall, The new Owner may belong to the Forum! I do not think it Absurd, just out of my Financual Reach! Plus a Chunk goes to the Childrens Fund!! best wishes to the New owner and an awesome Car!

[computerworks]

...another shill-bidder.

[dv67shelby]

Absurd is too mild of a word in describing that selling price!!! Children's Fund is a good thing and the car definitely looks great, but I would rather fill my garage with REAL Shelby's than buy just one recreation car or whatever terminology they are using these days. Sure the car is probably a rocket-ship to drive and will blow away any genuine Shelby Mustang but spending a half million dollars on this car has me shaking my head! Good luck to the new owner and congrats to the Seller. David

[rshelby]

Well, if you've got the money, I guess it's up to you to spend it how ever you like. It just seems high...real high. Yes, it's the first convertible but they will probably make quite a few more as long as people are willing to buy and I bet you can pick one up for half that before too long. From what I understand, Unique Performance does have a backlog of orders so they are probably building whatever is ordered. I wonder if you can order them to build a convertible? I can guarantee it's a blast to drive but I still find it hard to get past what other cars you could buy with that money. That's a good thing though. I would choose to spend the money on other cars but since last time I checked my bank account there was not an extra $550,800, it's not for me to decide. Whomever bought this may have the means to buy whatever he wants and I'm glad he chose a car with the Shelby name on it.

[289Cobra]

I'm completely speechless. I could buy an original Shelby Mustang AND an original Cobra for that. Not a big fan of the GT500E's. I can think of much better uses for '67-68 Mustangs. IMHO.

[roddster]

Look "IF" I had that kind of money, I'd buy 2 or 3 (maybe even 4) complete REAL Shelbys. Real meaning built and Vinned between 1965 and 1969.
Fools.....

[Charley]

How do we know it was not just Unique buying it back themselves ? Great advertising......

[daltondavid]

See what putting a Car on the Cover of a National Mustang Magazine, that Comes out a week before the auction does for Sales!! Note to self: Contact editor of Super Chevy and arrange for Photo shoot of My COPO Camaro.......

[LateGT500]

My question is this.
Did the buyer have a ferrari hat on and will the car live happily ever after some where in Colorado ?

[289Cobra]

Originally Posted by LateGT500

My question is this.
Did the buyer have a ferrari hat on and will the car live happily ever after some where in Colorado ?

[DJR]

So my question is this. If this car is "worth" 500K+, what would say a Shelby built and titled as a 1968 be worth if you were to 1. remove the original parts and store them 2. replace them with all the hi-tech parts like this one had. Would not the "original" car be worth more since it was built in the era and you had all the correct parts? Lets say I had a 68 Mustang convertable. I have the money and the ability to purchase and install the parts the 500K+ car has. Am I doing much different then what they are doing now? Or is being "authorized" worth 450K more?

[daltondavid]

It's all about the Authorization! It was Back in the Sixties as well. just like next Summer when we all get a chance to run down to the FORD dealer and get a chance to do it all over again! After all, it is His Name, His creation, and as long as people are buying, he will be selling. God Blessed Carroll Shelby and He is living the American Dream!

[Charley]

Watching tonights auction coverage they just sold a Corvette Pace car to a guy named Richard Barry and said he was the same guy that paid 510K for the Shelby. I guess it really was real....amazing.....

[mrroadside]

taking a old mustang & calling it a shelby Is in my mind bs i is not a Shelby ..........Like Elenore in gone in 60 Seconds it didn't even have the GT dash i like keeping up with technology but its the same as having a Replicar IT AINT NO Shelby!!!!! Half a Mill is wild but fastest Or best looking isint what Owning a Classic car is about Its the Love of the car

[289Cobra]

Originally Posted by daltondavid

It's all about the Authorization! It was Back in the Sixties as well. just like next Summer when we all get a chance to run down to the FORD dealer and get a chance to do it all over again! After all, it is His Name, His creation, and as long as people are buying, he will be selling. God Blessed Carroll Shelby and He is living the American Dream!

I agree with you on that point, but my concern with most of these "new" Shelby's is: who's really making the money? Is it Carroll, or is it some company who is taking advantage of the Shelby namesake, and simply giving Ol' Shel a paltry royalty???

And when the Eleanor fad dies (which it will), will said company stick by Shelby and continue to try and help keep his legendary cars going, or will they drop him like a hot rock and move on to the next trend?

[Charley]

Unique Performance has already annouced they are teaming up with Chip Foose to produce Pro-Touring Camaro's.