the ford Mustang was on a good roll in the muscle car market when the competition was pretty close back in the 60s.
Updated December 2021: If you’re interested in the classic Ford Mustang Shelby GT500, you’ll be happy to know that we’ve updated this article with the most recent information we could find about this highly sought-after classic car.
Ford’s Shelby Mustang line was the higher-performing variant of that era. What used to be just a normal production for them became an instant classic sometime in the distant future.
Soon, muscle car enthusiasts would prefer a certain Shelby model over newer and more modern Mustangs. The said model is the 1967 Shelby GT500, which is one of the most handsome and timeless muscle cars out there.
How much is this classic American Muscle worth today? It’s time we talk about the car that also earned the nickname “Eleanor.”
What’s With The 1967 Shelby?
The Shelby Mustangs of the 60s were groundbreaking. The first generation design was timeless, and it seemed like the culmination of influence from other muscle cars.
In terms of power and performance, the Shelby Mustang was also up there as the name itself has been associated with speed. The 1967 Shelby GT500 was its most popular model ever, and for good reason.
The 1967 model was the first one built in the GT500 range. Its body looked exactly like the Mustang GT models of the same year, and the same could be said for what’s under its hood.
The 1967 GT500 ran on a Ford FE engine. It’s a carb-type Police-Interceptor V8 engine with a displacement of 428 cu in (7.0-liters). Despite that, it was capable of producing 355 horsepower and 420 lb-ft of torque.
There are only 2,048 GT500 models produced in 1967, making it one of the rarer classics. In fact, it was so rare that it was put on the pedestal in the 2000 film “Gone in Sixty Seconds.“
“Eleanor” In Gone In Sixty Seconds
The older Ford Mustang models were forever put in the list of coveted classics after making an appearance in Gone in Sixty Seconds. The film was already a remake of the 1974 film of the same name.
In the original movie directed by HB Halicki, who also starred in it, Eleanor was a nearly stock 1971 Mustang “Sportsroof” that received a facelift update to resemble a 1973 model. While the 1974 movie certainly had the best chase scene, the remake featured a much cooler Eleanor.
In the 2000 remake, Nicolas Cage plays the role of retired car thief Randall “Memphis” Raines who needed to steal 50 cars in one night in order to save his and his brother’s life.
Of all the classic and luxury cars that made an appearance in the film, the 1967 Shelby GT500, codenamed “Eleanor” was the most important one of them all. This car was nothing like the one used in the original movie, and some would say Eleanor was the best thing about the remake.
Ever since then, classic muscle car collectors have desperately wanted to get their hands on a Shelby Mustang. They wanted to restore it as close to how Eleanor looked in the film.
Cage also owns his own 1967 Shelby Mustang which was one of 11 models made specifically for the film.
How Good Is The GT500?
The Mustang is Ford’s crowning glory as it is the longest line of vehicles that is still present today.
The automaker partnered with Shelby American, Inc. to produce this high-performance Mustang. It means the car itself has race car driving legend Carroll Shelby’s seal of approval.
Shelby even went as far as saying that the GT500 was the first car he was really proud of. This coming from the man who built a Ford that managed to beat the Ferrari team at Le Mans.
Speed and power are the Mustang’s calling card, which is why its more popular models are what tuners like to use as a base. The Shelby models have become more coveted since it’s specifically built for races.
As for the 1967 Shelby GT500, it’s arguably the most coveted of them all, especially the one-off 1967 Shelby GT500 Super Snake.
How Much Is The 1967 Shelby GT500 Worth Today?
The price of the 1967 Shelby GT500 today depends on how it is restored. Another factor to consider is how special the actual unit itself is.
For instance, one of the three main Shelby’s used in Gone in 60 seconds Sold for $1 million in 2013. On the other hand, a regular 1967 Shelby GT500 goes for around $100,000 to $200,000 depending on various factors, such as condition, mileage, and history.
Back in 2017, one 1967 Shelby GT500 sold at the SEMA Show for $219,000. However, it should be noted that this particular car packed 600 horsepower and was equipped with modern amenities, a so-called restomod.
A rare find is the one and only Super Snake, which sold for $2.2 million at the Mecum Auction in 2019. The car had undergone some light restoration work, the correct wiring and hoses for the engine were sourced, it received a period-correct fire extinguisher, Shelby 10-spoke wheels, and rather impressively, an original set of Goodyear Thunderbolt tires were fitted.
The latest you can get your hands on is an all-carbon-fiber restomod sold by Shelby American, Inc. themselves. Under its hood is a Custom Dyno Tuned Coyote Gen 3 engine capable of 810 hp.
If you’re having a hard time getting your hands on one of the classic models, there’s always the option of getting one of the newer Shelby GT500 models that have been in production since 2007.