Rare Shelby GT500KR Convertible is a Mean, Green, Crusing Machine

By Brett Foote - February 12, 2019

Early Shelby Mustangs have plenty of attractive attributes, and this gorgeous, one-of-518 model has it all.

Rare is a word frequently associated with early Shelby Mustangs. Truthfully, no old Shelby was produced in massive quantities, and most are quite valuable as a result. Now, this incredible 1968 GT500KR convertible certainly isn’t the rarest Shelby Mustang we’ve come across. But it is one of just 518 built. Which means that it’ll probably hammer for a pretty penny when it crosses the block at Mecum’s upcoming Phoenix sale on March 14-17.

It doesn’t hurt that this particular GT500KR has quite the pedigree, either. Shelby number 03897 is documented in the original Shelby Registry and looks 100% correct and original. And honestly, is there any color that looks better on these early cars than Highland Green? Throw in a deluxe interior with factory air and an upgraded radio, and you aren’t exactly riding in some stripper race car, either.

That isn’t to say that this Mustang doesn’t pack plenty of heat under the hood, of course. Mid-1968, Carroll Shelby decided to upgrade the old car’s Police Interceptor 428 with the mighty 428 Cobra Jet. That little addition, conservatively rated at 335 hp, helped give this car its new “King of the Road” distinction.

Surprisingly enough, weight reduction was part of the plan in ’68, too. Shelbys of this era feature fiberglass body panels including the front fascia and hood with functional ram air. Throw in a rear ducktail spoiler and some gorgeous 10-spoke wheels, and this old ‘vert looks every bit as good as it goes.

There are obviously plenty of rare and nearly priceless Shelby Mustangs up for auction nearly every month. But few perfectly encapsulate what made these cars so special like this one. Combine low production numbers with iconic styling and a legendary motor, and does it really get any better than this, at least in terms of a drop top?