1968 Shelby GT500 Mustang Cobra 428 - Acapulco Blue - 84,255 Miles - 428ci V8, 4-Speed Manual
Overview
This is a genuine 1968 Shelby GT500 Cobra 428, one of the most iconic American muscle cars ever produced. The GT500 represented the pinnacle of Shelby's performance engineering during the golden age of American automotive excess, combining Carroll Shelby's race-proven modifications with Ford's raw big-block power. The Cobra 428 variant, introduced mid-year, featured the legendary 428 cubic inch Cobra Jet V8, a naturally aspirated powerhouse that delivered 390 horsepower and 427 lb-ft of torque. This specific example, finished in period-correct Acapulco Blue with white GT500 side stripes, presents as a well-preserved example of 1960s muscle car heritage. The odometer reading of 84,255 miles suggests moderate use over its 56-year lifespan, consistent with a vehicle that has been respected and maintained rather than subjected to extreme duty or restoration trauma.
The exterior presents with good visual coherence across all panels. The Acapulco Blue paint holds respectable gloss and colour consistency, with minor stone chipping visible on the bonnet leading edge—typical of a vehicle with genuine road history rather than a garage queen. The factory GT500 badging and Cobra 428 identification are clearly legible. Panel alignment appears straight and even, with no obvious evidence of major accident repair or panel replacement. The chrome trim, including the distinctive Shelby grille surround and bumpers, shows age-appropriate patina with surface oxidation consistent with a 1968 vehicle. The original factory wheels, fitted with period-correct Goodrich radial tyres, present well and show no significant kerb damage. The windscreen and rear glass are intact with no visible cracks or delamination.
The interior reflects the vehicle's age and mileage honestly. The black vinyl bucket seats show wear consistent with 84,000+ miles of use. The dashboard is uncracked, with the iconic Shelby instrument cluster clearly visible and legible. The steering wheel, a period-correct three-spoke design. The original AM/FM radio remains in place. Overall, the interior presents as a genuine which is precisely what collectors of authentic 1960s muscle cars seek.
The engine bay reveals the legendary 428 Cobra Jet V8 in its original configuration. The naturally aspirated big block sits cleanly with original factory casting and minimal modification. The engine number 03010 is clearly visible on the block, matching the VIN documentation. The original air cleaner assembly, valve covers, and intake manifold are all present and correct. Fluid levels are accessible and the bay shows no evidence of major leaks or seepage. The radiator and cooling system components are in place. This is a numbers-matching example where the engine, transmission, and chassis all correspond to the original factory build specification—a critical factor in classic Shelby valuation.
The 4-speed manual transmission is the correct factory specification for the 1968 GT500, with a solid clutch engagement and smooth shift action. The driver's footwell reveals the original three-pedal manual configuration, with the clutch pedal positioned correctly on the left. The steering is responsive and the suspension geometry appears original and unmodified. The undercarriage shows light surface oxidation and factory patina consistent with a 56-year-old vehicle that has seen genuine use but has been preserved rather than subjected to salt-road corrosion or severe neglect.
1968 Shelby GT500 Cobra 428 represents genuine American muscle car heritage at a realistic market price. Original, numbers-matching Shelby GT500s from 1968 are increasingly sought after as investment-grade classics, particularly examples with documented provenance and honest patina rather than over-restored show cars. The 428 Cobra Jet engine is one of the most desirable variants, and the manual transmission adds to the authenticity and driving engagement. This is not a pristine museum piece, but rather a well-preserved, honest example of one of the most significant performance cars of the 1960s—exactly what serious collectors are actively seeking in today's market.
Condition
This Shelby GT500 presents as a well-preserved, unrestored example with honest patina throughout. The exterior paint is clean and coherent. The interior shows genuine wear consistent with 84,255 miles of use. All major systems are functional and the vehicle is presented as a running, driving example ready for immediate use or further preservation as the new owner sees fit.
Features
* 428 cubic inch Cobra Jet V8 engine, naturally aspirated, 390 horsepower
* 4-speed manual transmission, original factory specification
* Rear wheel drive, independent rear suspension
* Acapulco Blue exterior with white GT500 side stripes
* Black vinyl bucket seats, original factory interior
* Original Shelby instrument cluster with full gauges
* Original AM/FM radio
* Original three-spoke steering wheel
* Factory GT500 badging and Cobra 428 identification
* Original chrome trim and bumpers
* Period-correct Goodrich radial tyres
* Numbers-matching engine (03010), transmission, and chassis
* Documented odometer reading of 84,255 miles
* Left-hand drive configuration
Condition Notes
* Light surface oxidation on undercarriage components, typical for age
* Dashboard and headliner show age-appropriate patina
* Original paint shows minor colour variation in shadows, consistent with age and storage conditions
* No evidence of major accident repair or panel replacement
* Vehicle is presented as unrestored with original factory specifications throughout
Specifications
Year: 1968
Make: Shelby
Model: GT500
Series: Mustang
Badge: Cobra 428
Body Type: Coupe
Drive Type: Rear wheel drive
Engine: 428 cubic inch (7.0 Litre) Cobra Jet V8, naturally aspirated
Transmission: 4-speed manual
Horsepower: 390 hp
Torque: 427 lb-ft
Cylinders: 8 (V-angle configuration)
Odometer: 84,255 miles
Colour: Acapulco Blue
Interior: Black vinyl bucket seats
Seats: 2
Doors: 2
Steering: Left hand drive
Wheels: Original factory specification
Tyres: Goodrich radial
Status: Numbers-matching, unrestored, original factory specification
Price Guide: $275,000 - $300,000 AUD
CHASSIS: 8T02R206101 - 3010
(Key #CC37)
Lloyds stock #658340+1
#CCALL
#CCUSA
Location of item: 148 Main Street, Beverley, SA, Australia
** This vendor is not registered for GST - therefore GST is not applicable on this asset **
As Standard Auction Practice all Vehicles are Sold Unregistered
As with all vehicles sold in the Classic Car Division, they have been well looked after by their previous owners. This is an Auction Sale. This asset is sold under standard auction conditions, as is, where is. High volumes of incoming product prevent our team from being able to inspect all items individually. All photos, descriptions, odometer readings, hour readings, engine specifications and any condition reports should be used as a guide only and have been compiled after speaking with the owners. To find out more about this lot or to book a live video inspection please contact the Auctioneer Contact which can be found on the Auction Details page. There is no statutory warranty & no cooling off period.
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