1968 Shelby Price and Value Guide
...and you thought it was all pictures
You have
probably seen many price guides that include values for 1968 Shelbys. Shelby
values can change quickly and often out pace magazine publishing lead times.
On this page, I intend to share with you several of my own experiences
and give you some guidelines in determining the value of how much a car is
worth. Personally, I have seen two identical Shelbys sell for a difference of
$75,000. I will discuss what makes a "good car" and why two similar cars are not
always valued equally. I have studied the 1968 Shelby prices for more than
thirty five years. I will also discuss how to conduct a search for a car and where
to look. Finally, as a buyer, you have certain responsibilities.
Determining the Value of a car
I will work on the assumption
that the most original, unmolested cars are the most valuable to the collectors.
A car taken from the assembly line and preserved in a time capsule is the ideal.
The farther you get from stock, the more the value decreases. Things like
missing parts and replaced sheetmetal will detract from the "perfect"
automobile. Original, unrestored cars with matching numbers will always bring
the greatest prices.
So, What is Matching Numbers?
Matching
numbers means the car is original in every respect. If you are looking for an
investment grade, quality car, this should be your goal. If you simply want a
car to drive around, this may not be as important to you. To determine if a car
is matching numbers you will need to study the car you intend to buy. A basic
understanding of FORD part numbers, unique parts and codes are all important. If
you don't know these things, you will need to find someone who does. I will not
go into detail about decoding cars. In the case of the 1968 Shelby, make sure
windshield tag, the build tag, the warranty plate and the Shelby VIN plate all
match. Additionally, these should match the title of the car. Some of these tags
have codes on them and you will need to make sure the codes match the current
configuration of the car. If possible, you will want to make sure the front,
inner fender apron stampings also match. IMPORTANT: No one can guarantee you
a car has matching numbers. Determining if the original tags came on a
specific unibody is difficult. Once a vehicle has been restored or repaired this
may be virtually impossible. For this reason, you should have a basic
understanding of sheet metal repair techniques. Buying an expensive collector
car is not easy.
Variations from Stock
After 50 some years,
fewer and fewer cars are strict numbers matching. Will a color change effect
value? How about a non-matching motor? Generally speaking the answer to both
questions is "yes". The car will be devalued whatever the cost to return the car
to stock condition will be. You can only have one original motor and one
original paint job. That is why the unrestored cars are more valuable. You can
still have a valuable car if your car has been restored. A car missing
documentation, history or unique parts (such as identification tags or original
fiberglass) may be cars to stay away from. If a car is missing one
identification tag and everything else is correct, it may still be a car you
wish to consider.
The Color Change
A true collector will want the
car to be the original colors. An example of this is a GT500KR I sold for a
friend years ago. The car was a national show winner. The color change was the
only deviation from stock and the car was painted a stock Shelby color. The car
would not be considered "matching numbers". The color change excluded many
potential buyers. My value guide takes into account a car that has been
repainted. Because color is a matter of personal preference, there are likely to
be an equal number of people who like the color change. The value of a car will
usually not decrease by more than 10% for a color change, unless the car is a
non-production color. Unique colors, such as those documented on the website,
may actually add value to the car. If car has a color change, look for evidence
of the original paint.
The Non-matching Drivetrain
In 1968,
Shelbys were driven on the streets. Many cars were raced. Today it is not
unusual for a car to be missing its original motor. The value guide shows a
price range. Cars with non-matching motors are reflected on the lower end of the
scale. Cars with matching number drivetrains are valued higher on the scale.
Missing or Damaged Parts
Missing parts are almost always an
issue. It is unusual for a car to have all of its parts. Many cars left the
factory missing parts. Items such as wheels, pollution controls and original
carburetors were often discarded or changed in favor of aftermarket parts. It is
common to see GT500KRs missing several thousands of dollars of parts under the
hood. In my opinion, you should not be willing to pay top dollar for a car
missing these items. If parts are missing from the car, you must determine the
replacement cost of these items and subtract them from the price guide. I have
also seen cars with big price tags that require extensive repairs. The cost of
the repairs should be reflected in the value. Reproduction parts may detract,
depending on the availablity of the original parts.
The History and
Quality
History and documentation are often overlooked. People see the
big price tags, but can not see an unbroken chain of ownership. Please refer to
the DOCUMENTATION page on the website for a list of the types of documents that
are available for 1968 Shelbys. Be skeptical of cars without documents. The more
supporting documentation a car has the better. If the car is restored, the
quality of the workmanship is important. Many body shops do good work on late
model cars. But, using the same techniques on a classic musclecar may be costly.
Additionally, many shops are not specialized, but rather cater to many makes and
models. This makes it very easy to loose the details of a quality restoration.
Parts added to vehicle can, in some cases, add value to the car. A Paxton
supercharger on a small block car is a good example. The installation of the
supercharger is a bolt-on job. Be carefull, because some items such as adding
air conditioning, may actually hurt the value of the car, installing this item
requires cutting the original body panels. Changes, that can be documented by
original paperwork, are always interesting. The best example of this is the
infamous 427 engine. A few years back, many people claimed their 1968 Shelbys
had "factory installed" 427s. When the FORD records were released, all of these
engines became "dealer installed". {note: the records reflect no 427 cars were
built} However, without the proper documents, the car is just another 68 missing
its original motor.
Shelby Parts Cars?
Have you ever seen
one? Unlike the Mustang, there is no such thing as a Shelby parts car. They are
simply to valuable. During the last thirty years, I have seen less than a dozen cars
under $15,000. Most of these cars were burned beyond recognition. No doubt, some
of these cars are back on the streets today. The bottom line is...you are not
going to find a "cheap" Shelby. You can find a good deal and you can
still find a project car. You need to ready to buy and be realistic about
prices.
Common Scams
In the recent past, there have been many internet
scams. Typically, the car has an attractive price and the seller lives in
foreign country. The story usually has a sick or dying relative in it or an
offer to ship you the car. The seller steals advertisements from other internet
sites and does not own the car. Once again, an example of why you need to do
your research first. The only thing these people are after is your deposit money
or personal information.
Car Show Awards
National awards such
as those from the Shelby American Automobile Club {SAAC} or Mustang Club of
America {MCA} add value to the car. Local or regional cars show awards do not
change the values. You still need to check all of these cars.
Appraisals
Certainly, there are many reputable and knowledge
appraisal services. However, it is very hard to be knowledgable on all cars.
Will someone who appraises Rolls Royce automobiles, know if a starter delay is
missing from a GT500KR? The unfortunate part of an appraisal is, that if you
know the right people, you can get one for just about any value. Do not take an
appraisal at face value. You have the responsibilty to be the knowledgable
person. Just because a car has a high appraisal value, doesn't mean someone will
pay that much.
Buyer's Responsibilties
As a buyer you have
several responsibilites. First, research your prospective car. You need to know
the difference betwen a good car and a scam. Secondly, be ready to pull the
trigger. It is best if you have the money in hand when the right car becomes
available. Many cars are sold before the advertisements ever appear. Meet as
many car people as you can. I suggest reading some of the Mustang forums online
also.
eBay
Is eBay a good way to find a Shelby ? I tracked eBay auctions for six months and you may be surprised
at the results. Are eBay prices higher or lower than market prices ? Read my report and find out!
THE EBAY REPORT
I have read many comments about recent eBay and collector car auctions.
eBay can be a good way to find a car. You should treat the auction as a means of
contacting the seller. DO NOT buy a car sight unseen. If you have not seen the
car personally or do not have specific knowledge of the owner, I recommend you
do not buy a Shelby from an online auction.
Structure of the Guide
Generally speaking, convertibles are
worth more than fastbacks and big block cars are worth more than small block
cars. The value guide is based on this structure. All prices are for street
driven cars. Most cars currently on the market will fall in the value guide.
Exceptional cars may be as much as 30-40% higher than the value shown in the
chart. These would be near perfect cars and cars with a pedigree. The values
shown are based on known sales. The chart will be adjusted as the market
changes.
Collector car auctions tend to
skew prices upward. I have found that collector car auction prices are usually
30-40% higher than full retail values. There are many reasons for this and I
will not go into the details here. I recommend not using collector car auction
prices to determine the value of a car. Certainly, you will find many people who
do. If you are buying a car from a "dealer", please understand that the car has
previously changed hands at a lower price. Ideally, you would like to find the
same car before the dealer buys it. There are also good reasons to buy a car
from a dealer. This is why networking is important. The prices on the value
guide are based on primary sales, not dealer sales.
The 1968
Shelby Value Guide
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