The Mustang Shelby GT saga started in 1965 with the GT350, a sportier, lightweight version of the 'Stang. But Ford and Carroll Shelby took things up a notch in 1967, when he introduced the GT500, a not-so-light but significantly more powerful version of the Mustang. The GT500 remained in production as the range-topping Mustang until 1969, but unsold 1969 models were given 1970 identification numbers. With just 380 units rebadged for 1970, this fastback is hard to find, and low-mileage, well-maintained examples are extremely rare. If you're looking for one, the folks over at Mecum Auctions are offering an example with just 57,000 miles on the odometer at the Kissimmee Summer Special in late August.

Restored to look as new

The Acapulco Blue paint looks spotless, as do the white and black stripes that adorn the sides and the engine hood, respectively. The interior boasts white upholstery, which provides a cool contrast with the exterior, paired with red floor mats and blue seatbelts. The chrome parts shine as if the car just left the factory, so this GT500 is a potential Concours winner.

It's fitted with all the goodies

It comes with power steering, power brakes with front discs, air conditioning, tilt-away steering column, seatbelt warning light, a sport deck rear seat, and 15-inch five-spoke wheels. It's also listed in the Shelby Registry, so it's as authentic as they get and will provide access to Shelby clubs and meetings.

Authentic muscle power

Like all GT500s sold in 1969 and 1970, this Fastback comes with the big 7.0-liter Cobra Jet V-8 engine. Ford introduced this mill in 1968 with 335 horsepower and 440 pound-feet of torque, a rating that remained unchanged for 1969 and 1970. It was the second-most powerful Ford V-8 from the era, surpassed only by the 429 Boss V-8. This GT500 comes with matching chassis and engine numbers, so it's a solid collectible.

1970 Shelby GT500 Fastback specifications

Engine

7.0-liter Cobra Jet V-8

Horsepower

335 HP @ 3,200 RPM

Torque

440 LB-FT @ 3,400 RPM

Transmission

four-speed manual

0 to 60 mph

6.0 seconds

Quarter mile time

17 seconds


It's one of the last first-generation Shelby GT500s built

1969 was the final production year for the Shelby GT500. That's when Ford and Carroll Shelby stopped working together, but FoMoCo sold an additional 380 units during the 1970 model year from left-over stock. And although many collectors would rather own GT500 built before 1969, when the Mustang was given a massive redesign, these late 1969 and 1970 models look more dramatic and muscular in Shelby trim.

When's the auction and how much could it cost?

This 1970 Shelby GT500 will go under the hammer Saturday, August 29, during the Kissimmee Summer Special. There's no pricing estimate for the car, but well-preserved or restored 1969 and 1970 GT500s are usually worth around $100,000. Convertibles are rare and more expensive at around $200,000, but Fastbacks are known to cross the auction block with priced between $90,000 to $130,000 depending on mileage and condition.