Yahoo Autos 1968 Ford Mustang Shelby GT500KR Convertible Sets New Record with $330,000 Sale
Read the full story on Modern Car Collector
At Mecum’s 2024 Dallas auction, a rare 1968 Ford Mustang Shelby GT500KR Convertible has set a new record, selling for an impressive $330,000. Known as the “King of the Road,” the GT500KR is a sought-after muscle car icon, and this particular model stands out for its unique specifications and pristine restoration. Finished in a rare Raven Black with a white convertible top and equipped with factory air conditioning and a black Decor interior, it’s one of only five models built with this color and options combination, according to its Elite Marti Report.
The GT500KR was introduced mid-year in 1968, powered by the newly developed 428-cubic-inch Cobra Jet V8 engine, which was a game-changer for Carroll Shelby’s lineup. The “King of the Road” version marked Shelby’s peak production year, with a total of 4,658 vehicles built, including the GT350s. Among these, only 1,452 units were GT500KR models, and just 518 of those were convertibles, making this black beauty even more desirable to collectors.
This particular GT500KR boasts a numbers-matching Cobra Jet engine paired with a three-speed automatic transmission. It comes fully equipped with period-correct features, including power brakes with front discs, power steering, power top, tilt-away steering column, Visibility group, AM radio, tinted glass, and a tachometer. This classic Mustang’s history is well-documented in the Shelby Registry, adding to its appeal for collectors.
Not only did this sale surpass previous high marks for GT500KR models, but it also topped the prior record of $324,500 set by a red coupe in 2022. Among GT500KRs that have sold for over $300,000, three are convertibles, and this Raven Black version is now tied in second place for 1968 Shelbys, alongside another GT500 Convertible that sold for $330,000 in 2020. Only the 1968 GT500 EFI prototype, which fetched $396,000 in 2021, holds a higher record.
At this year’s Dallas auction, the GT500KR was the most expensive classic muscle car sold, beaten only by a 1933 Auburn 12-165 Speedster at $990,000 and a 2019 Chevrolet Corvette ZR1 Coupe at $396,000. Following it were a 1969 Mustang Boss 429 at $280,500 and a 1970 Plymouth Superbird at $220,000. With its rare specifications, impressive restoration, and documented history, this GT500KR continues to prove the enduring value and appeal of classic Shelby Mustangs among collectors.
