bobbyaug07 Posted January 29, 2011 Report Share Posted January 29, 2011 Hi guys! I'm just new to this forum, and this is my first post. I am 30 years old, and have been the owner of a numbers- matching, original 1967 Shelby GT500 (with around 60,000 original miles) since I was 21. Our family acquired the car in 1991 (my dad bought it from an older lady at the time who was badly in need of some money), and it is in need of restoration. Currently it has been taken apart with the engine pulled out and the body in storage with some minimal rust. I don't have any photos but could certainly get some. Frankly, here's the reason I'm posting - I'm basically trying to figure out my options with this car and have no idea what to do. This is what I'm considering: 1) Restore car fully and keep it. 2) Restore car fully and sell. (Eventually I'd like to buy a house) 3) Sell as is. As far as restoration, I have no idea where to begin or what this might cost - could anybody point me in the right directions on this? As far as selling it, I have no idea what the current value might be or how to go about figuring that out. I can tell you this - I'm not going to be making any hasty decisions, and only legitimate, serious offers will be considered. Basically, I'm hoping there's somebody out there who's wrestled with this before who can provide some wisdom. Thanks guys! Bobby Link to comment Share on other sites More sharing options...
GT500FLYBOY Posted January 29, 2011 Report Share Posted January 29, 2011 Cool - get some pics up... Link to comment Share on other sites More sharing options...
FiaCobra Posted January 29, 2011 Report Share Posted January 29, 2011 Bobby, Welcome to the site. You'll have to decide if you're willing to keep the car, or sell it. If you plan on keeping it, it's going to cost a considerable amount of money to restore the car properly. There's a lot of info you can get on this site as to whom people recommend for such a task. If you decide to sell the car, I'm going to suggest you sell the car as is (in it's unrestored state) You can have the car appraised in it's current condition. Just note: The car obviously has value. This economy will not help you get top dollar for it. You have a big decision to make so, take your time and ask lots of questions. - Joe Link to comment Share on other sites More sharing options...
gt350lp Posted January 29, 2011 Report Share Posted January 29, 2011 Welcome.... Link to comment Share on other sites More sharing options...
goldgus Posted January 29, 2011 Report Share Posted January 29, 2011 You know, I watch all of the televised auctions (Mecum, Barret-Jackson, RM, etc.) and it seems what is HOT right now is "Unmolested" vehicles... Even though yours is in parts, its numbers matching, so put it back together and have it appraised "as it sits". This is what will bring top dollar these days. If you intend to sell it, dont even think of restoring it first, you will NEVER recoup the money you sink into it. Only if you want to keep it would I restore it, and only if you have really deep pockets. It could conceivably cost you north of $100,000 to properly restore. Just my .02 GUS Link to comment Share on other sites More sharing options...
2010KonaBlueGT Posted January 29, 2011 Report Share Posted January 29, 2011 You know, I watch all of the televised auctions (Mecum, Barret-Jackson, RM, etc.) and it seems what is HOT right now is "Unmolested" vehicles... Even though yours is in parts, its numbers matching, so put it back together and have it appraised "as it sits". This is what will bring top dollar these days. If you intend to sell it, dont even think of restoring it first, you will NEVER recoup the money you sink into it. Only if you want to keep it would I restore it, and only if you have really deep pockets. It could conceivably cost you north of $100,000 to properly restore. Just my .02 GUS +++1000 on everything Gus says above; A unmolested "survivor" will be worth more NET than a 100 point restored car. What I mean is, by the time you pay to have it restored you will be into it considerably MORE than you will ever get out of it, or your heirs will ever get out of it. To do a 100pt resto takes CONSIDERABLE time and money. Just locating NOS parts with the correct tags, color code dots, etc. is extreamly time consuming, let alone expensive (just the purchase price of the parts, not including the leg work to find them). If you do it yourself, you *might* break even....but you will have even MORE time in it than if you hire a company to restore it for you and I can pretty much gaur-ann-teeeee you that your job won't turn out as well as a GOOD resto shop, unless you're experienced in ground-up restorations yourself. Hell, just the rotesserie will set you back as much as some cars are worth and then you need the room (a BIG garage or a barn) to do the job in. Point is, the cost to restore a car propperly is HUGE. I started a resto on some early Pontiac Firebirds I had and just locating NOS or good used parts was a full time job in itself and I was "in the loop" with the Pontiac/Firebird restoration crowd. If the paint on your car is original, even in poor condition, it is VALUABLE. Go to the Shelby Museum in LV and take a look at the green GT500 "barn find" they have in there. Totally original, down to the paint and worth as much if not more than just about ny car in the (exception: #1 AC Cobra that Shelby was offered $20 million for). If you want to drive the car, do the "resto" yourself and that way it doesn't have to be perfect/100pt. If you want to make as much money as you can, put the car back together and sell it "as is". If you want to have a car worth less than you put into it, have it restored and store it away in a climate controlled capsule. I know what *I* would do with it....but that isn't what you asked! HTH, Phill Link to comment Share on other sites More sharing options...
twobjshelbys Posted January 29, 2011 Report Share Posted January 29, 2011 1. You will never recoup your money on a quality restoration. 2. I've never seen a concours quality restoration done in a garage. For the money, buyers will expect it to be done by one of a handful of guys with reputations (see note 1). If you do it yourself you will have something that you'll love, and might do OK at local car shows, but won't pull top dollar to a serious collector or at an auction - serious buyers will restore your restoration. Then see #1 above. All in all, unless you want to keep the car and drive it, you'll be much better off selling it to someone who restores cars. Chances are the re-assembled unmolested car will net you more. Stephen Becker pops in here once in a while and does a bang up job restoring. (The 9000 mile GT500 is his.) (Note 1: Case in point. There is a guy that restores Austin Healeys. Car for car, his get 50-100% more than any others at any of the auctions he shows up at. Same for another fellow that restores T-birds.) Link to comment Share on other sites More sharing options...
SGT/SC#0471 Posted January 29, 2011 Report Share Posted January 29, 2011 Howdy and welcome... If you want to sell it as is, please contact me by PM...I am not a dealer or flipper, I would be interested in making it into a driver for a fair price and driving it. My daughter is the owner of my Shelby now so I am gonna need one for myself as she keeps getting closer to being old enough to actually drive it.....;@) Cheers!-Randy Link to comment Share on other sites More sharing options...
SGT/SC#0471 Posted January 29, 2011 Report Share Posted January 29, 2011 Also is the car a stick (manual) or an automatic transmission? Link to comment Share on other sites More sharing options...
gt350lp Posted January 29, 2011 Report Share Posted January 29, 2011 Sell as is....down payment for a house.... Link to comment Share on other sites More sharing options...
Naa-V-Doc Posted January 29, 2011 Report Share Posted January 29, 2011 Great advise already has been given, so hear is mine... If it were mine, I would put it back together (after eng., trans, rear re-built - on to wiring etc) and make it a driver. But if I were your age, I have a few on you, I would put it together and sell "as is". I hear that some people can sleep, eat, and even wash in a car but a home has just a little more comfort. Been the deep pocket route, do not recommend it... All the best and please post some pic's. Doc - Link to comment Share on other sites More sharing options...
twobjshelbys Posted January 30, 2011 Report Share Posted January 30, 2011 If it really is a numbers matching car it deserves a better fate than to become a daily driver. I'm betting if you put it on SAAC someone will jump at it. Someone over there will be better able to give you an assessment of market value. Link to comment Share on other sites More sharing options...
SGT/SC#0471 Posted January 30, 2011 Report Share Posted January 30, 2011 I disagree they should be driven mayve not in the cold rain and snow but not driving them is a pity IMO... Link to comment Share on other sites More sharing options...
ceswert Posted January 31, 2011 Report Share Posted January 31, 2011 I recently had restored a 69 Mach 1 to a weak number 2 quality status. So far I have ponied up 100 grand including the purchase of the car ($44m)and it still needs some body and paint work. My guess is another 20g's. Then we are looking at a pretty solid number 2 quality car.By the way a number 1 quality car is the best. I did not expect to pay this much. Things just keep on showing up that need attention. It also took about 1.5 years to complete. The shop I had do it did a really fine job. I love this car and now that it is almost done my only plan for the car is to drive it. Before you make a decision contact a Shelby expert and get the car verified. If it is numbers matching and as original as possible that's a real plus. The earlier 67's Shelby 500's typically can bring a higher value. Someone had mentioned above that a 4 speed is perferable to an automatic for resale, Boy, is this true! . A couple of very good Shelby experts are mustangshelby.com in MA. Brett is the owner. Check out his web site. He is great. I use Mustang Ranch in Santa Clara, CA near San Jose. Check out their web site at mustangranch.com I work with Joe Testa. He is excellent. This is where I have all my work done. Ask these guys the same questions you are asking us. They are honest and have great knowledge of Shelbys. I am currently looking for an original, survivor. I would be happy to stay in contact with you if you are considering a sale. I have relatives in the Seattle area. My uncle, who lived on Mercer Island, but now is deceased, had a 67 GT500. It was white with blue stripes. I tried to locate the car but it was sold to a dealership and then to a private party back in the early 80's.What color is yours? Best of luck to you! Link to comment Share on other sites More sharing options...
sudden Posted January 31, 2011 Report Share Posted January 31, 2011 Sell it and buy an new Shelby! SUDDEN. Link to comment Share on other sites More sharing options...
BIKEBOY Posted January 31, 2011 Report Share Posted January 31, 2011 Sell it and buy an new Shelby! SUDDEN. +100 Especially at your age. Link to comment Share on other sites More sharing options...
shel-b001 Posted January 31, 2011 Report Share Posted January 31, 2011 Keep it you may regret it some day, that s if you love older Shelbys Its your call. Oh & welcome to T.S. Pictures of your car would be nice.i Link to comment Share on other sites More sharing options...
frydguy79 Posted January 31, 2011 Report Share Posted January 31, 2011 Hi guys! I'm just new to this forum, and this is my first post. I am 30 years old, and have been the owner of a numbers- matching, original 1967 Shelby GT500 (with around 60,000 original miles) since I was 21. Our family acquired the car in 1991 (my dad bought it from an older lady at the time who was badly in need of some money), and it is in need of restoration. Currently it has been taken apart with the engine pulled out and the body in storage with some minimal rust. I don't have any photos but could certainly get some. Frankly, here's the reason I'm posting - I'm basically trying to figure out my options with this car and have no idea what to do. This is what I'm considering: 1) Restore car fully and keep it. 2) Restore car fully and sell. (Eventually I'd like to buy a house) 3) Sell as is. As far as restoration, I have no idea where to begin or what this might cost - could anybody point me in the right directions on this? As far as selling it, I have no idea what the current value might be or how to go about figuring that out. I can tell you this - I'm not going to be making any hasty decisions, and only legitimate, serious offers will be considered. Basically, I'm hoping there's somebody out there who's wrestled with this before who can provide some wisdom. Thanks guys! Bobby Bobby these is lots of good advise on this forum here is a couple of names to consider, both of them are top notch in the Shelby Field Jim Wicks @ Mid America 918-244-9919 Bill Collins @ Bill Collins Collector Fords 717-939-6000 give them a call and discribe the car to them Link to comment Share on other sites More sharing options...
vapor08GT500 Posted February 1, 2011 Report Share Posted February 1, 2011 I still have a 67 Shelby I bought in August of 1990. Have owned the car since and still do. Have bought and sold over 300 Shelby's since then, but still own my first. Carroll saw the car at the Palm Springs Road Races in the early 90's and said " Son, Don't ever restore that car" it was a Dark Moss Green with white stripe/parchmant interior car with 18K miles... Also....the 67 GT 500 in the museum with 9K miles owned by Stuart, is Nightmist Blue, not green (2 greens offered in 67...Lime Gold which was light green metallic, and Dark Moss Green which was dark green metallic) ... Alex Link to comment Share on other sites More sharing options...
Cobra Boy Posted February 1, 2011 Report Share Posted February 1, 2011 Bobby, Welcome to TS. Keep the car, they are hard to come by and worth it as an investment. Call Jeff Yergovich at R&A Motorsports in Kansas City at 816-246-9094 and tell him Kyle from Shelbyfest sent you. Two of his restorations broke world records at auction and he is currently restoring the only 67 GT500 convertible ever made. His pedigree is certainly good but on top of that, he's a great guy and super easy to talk to. He'll be happy to answer any questions you may have. That being said, there are some good folks out there qualified to restore your car, just make sure you ask lots of questions before turning it over to any one of them to make sure you feel comfortable with them. That's your right as a car owner. Good luck to you and I agree with a previous poster, some pictures are in order, even in it's current state. BTW - Would love to see you bring it to Shelbyfest in Hermann some day Kyle Link to comment Share on other sites More sharing options...
David Hawkins Posted February 1, 2011 Report Share Posted February 1, 2011 I recently had restored a 69 Mach 1 to a weak number 2 quality status. So far I have ponied up 100 grand including the purchase of the car ($44m)and it still needs some body and paint work. My guess is another 20g's. Then we are looking at a pretty solid number 2 quality car.By the way a number 1 quality car is the best. I did not expect to pay this much. Things just keep on showing up that need attention. It also took about 1.5 years to complete. The shop I had do it did a really fine job. I love this car and now that it is almost done my only plan for the car is to drive it. Before you make a decision contact a Shelby expert and get the car verified. If it is numbers matching and as original as possible that's a real plus. The earlier 67's Shelby 500's typically can bring a higher value. Someone had mentioned above that a 4 speed is perferable to an automatic for resale, Boy, is this true! . A couple of very good Shelby experts are mustangshelby.com in MA. Brett is the owner. Check out his web site. He is great. I use Mustang Ranch in Santa Clara, CA near San Jose. Check out their web site at mustangranch.com I work with Joe Testa. He is excellent. This is where I have all my work done. Ask these guys the same questions you are asking us. They are honest and have great knowledge of Shelbys. I am currently looking for an original, survivor. I would be happy to stay in contact with you if you are considering a sale. I have relatives in the Seattle area. My uncle, who lived on Mercer Island, but now is deceased, had a 67 GT500. It was white with blue stripes. I tried to locate the car but it was sold to a dealership and then to a private party back in the early 80's.What color is yours? Best of luck to you! This is why I do most of the work myself...........I refuse to pay someone an Outrageous Hourly Rate to do something I can do myself. Link to comment Share on other sites More sharing options...
Naa-V-Doc Posted February 2, 2011 Report Share Posted February 2, 2011 I don't get it - NO PIC's! Is this guy real????????????? Link to comment Share on other sites More sharing options...
SGT/SC#0471 Posted February 2, 2011 Report Share Posted February 2, 2011 Mybe he got some tools put it together and is doing BURNOUTS!!!!!! Link to comment Share on other sites More sharing options...
ceswert Posted February 2, 2011 Report Share Posted February 2, 2011 This is why I do most of the work myself...........I refuse to pay someone an Outrageous Hourly Rate to do something I can do myself. I congratulate you on your craft. I obviously can't do it myself. I don't have the expertise or the time to learn. I am very happy to have found a true craftsman who did a spectacular job. No doubt it is expensive. My problem or pleasure is I have a very great passion for Fords. It was worth the wait and I am very lucky to have the funds available. I know I can't and won't get all my money out of this much less make a profit. I did this because I wish to drive a restored, safe classic. Just as an aside, I totally support the restorers and mechanics of tomorrow. I am donating my 73 Mustang convert. to an auto science class at a local high school. The car is in rough shape but very restorable. There are so few of these programs left. It is an excellent vocation. I may self indulge but I also try to give back. The tax deduction is limited and I will never recover the buy price. But if it helps another it's all good! Link to comment Share on other sites More sharing options...
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