We can’t get all the details straight, but if this is what it appears to be then it’s one heck of a rare and valuable car. We’re talking about the 1968 Shelby GT500KR, an extra-spicy variant of the Ford Mustang.
The first thing that got our attention is that Vanguard Motors is selling a yellow Shelby GT500KR. Though it’s not directly stated, this appears to be the special-order color Speed Yellow. I can only find that there were 43 examples of the convertible in this shade, but the coupe should be rare as well.
Is this the original color? Hard to tell, but the story of the car is pretty compelling. The previous owner had it since 1987, and most of what we see looks original. However, given the importance of the car, you should consult a Shelby specialist before buying the car.
The KR, short for King of the Road, was derived from the 1968 Shelby GT500, and it packed the iconic Cobra Jet 428ci engine in place of the Police Interceptor V8. On paper, power came down from 360 to 335 hp, but that’s not really what happened.
Everybody knows that the Cobra Jet was a monster of an engine, one of the most advanced V8s on the road. It produced more than 400 horsepower and 440 lb-ft quite easily, but they wanted to keep insurance low.
The GT500KR arrived right at the end of the real Shelby Mustang era, when muscle cars really got Carroll’s special juice and racing pedigree was at its highest. And the KR has few distinctive features over the normal GT500. It received lots of scoops and vents, a fiberglass hood and truck, bigger rear drum brakes, a new tach that went to 8000rpm, and the rollover bar. Thanks to these changes, it’s got quite a distinctive appearance.
It’s obviously not everybody’s cup of muscle car tea, but it’s undeniably a fast Mustang that’s quite rare.
And who doesn’t like a yellow car with a V8?!
Speaking of which, there’s something going on under the hood. As we said, the GT500KR is supposed to have a 428 cubic-inch Cobra Jet V8. However, this bad boy is packing a 427 side-oiler, which is still one of the most exciting Ford engines ever.
The 427 is the only race engine of the Ford FE family of V8s. It was launched in 1963 and actually displaced 425.98 cubic inches. It featured numerous improved components to keep the engine happy under high-stress racing conditions, but the most famous upgrade was a special oil passage on the left of the V8 engine, added to lubricate the crank, cam, and valve train.
The 427 FE was thus happy to make 425 horsepower and powered some of the most famous cars of that era, namely the GT40 that won Le Mans and Shelby’s 427 S/C Cobras.
Look past the engine and this is an amazing GT500KR. All the bodywork is looking great under that yellow paint. The chrome is there, the tilting steering wheel and the Shelby interior with a roll hoop. It’s not a restomod, so the technology is as it was in 1968, including the sold axle, leaf springs, and drum brakes. But we did spot some upgrades of the power brakes and aftermarket exhaust variety. And the price? Well… $199,900. That’s a lot of money, but I’d have this over an Eleanor replica any day of the week.
“..the GT500KR is supposed to have a 427 cubic-inch Cobra Jet V8.” No; a 428.
The 475 hp number in the article is just arbitrarily thrown out there. Most 2X4V 427s were nominally rated at 425 hp, regardless of cam and compession.