1965 Shelby Mustang GT 350 R Competition HardTop / SFM-5R538 Chassis Information

1965 Shelby Mustang GT 350 R Competition photograph

1965 Shelby Mustang GT 350 R Competition photograph

1965 Shelby Mustang GT 350 R Competition photograph

1965 Shelby Mustang GT 350 R Competition photograph

1965 Shelby Mustang GT 350 R Competition photograph

1965 Shelby Mustang GT 350 R Competition photograph

1965 Shelby Mustang GT 350 R Competition1965 Shelby Mustang GT 350 R Competition1965 Shelby Mustang GT 350 R Competition1965 Shelby Mustang GT 350 R Competition1965 Shelby Mustang GT 350 R Competition1965 Shelby Mustang GT 350 R Competition
HardTop
Chassis #: SFM-5R538
Sold for $984,500 at 2014 RM Auctions - Amelia Island.
In 2012, a 1965 Shelby GT350R sold at RM Auctions Monterey event for nearly $1,000,000. Well, this mark is likely to be broken by an example that clocked the fastest speed for a 289-powered Shelby.

Considering that only 33 or 34 Shelby Mustang GT350Rs would ever be produced, each one is highly coveted, perhaps none more so than 5R538, and there would be plenty of good reasons as to why.

Production completed in 1965 by Shelby American, 5R538 would be first owned by Roger West. He would take delivery of the Mustang in early 1966 and would be immediately successful with the car earning the SCCA Southeast Division Championship that year. However, West would become enamored by another Ford, the GT40. As a result, West would put the Mustang to the side. Charlie Kemp, however, would just happen to see West at the wheel of the Mustang and would be greatly impressed by the car.

Charlie Kemp could put to rest the debate as to whether race car drivers are actually athletes. Racing cars by the time he was just 16, Kemp would also play a number of sports and would even play semi-professional baseball for the Hazlehurst Indians. However, it would be behind the wheel where Kemp's natural talent proved professional. Enjoying a string of unbeaten years in drag racing, Charlie would score a 2nd place result in his first SCCA regional event. This would come after his foray into baseball and eight years in the National Guard. By the mid-1960s, Kemp was competing against some of the greatest drivers in the world at the time and he would be looking for an opportunity to move up in power. It would be about that time that he would see West at the wheel of the Mustang.

The Shelby Mustang presented just the right opportunity for Kemp. Furthermore, West was willing to sell the car. So, in 1967, Charlie would head into the Foreign Car Center in Birmingham, Alabama and would come away with West's GT350R. Almost immediately, Kemp would take the Mustang and would enter a race in Montgomery, Alabama. In spite of blowing the engine, he would break the lap record. In spite of the setback, the performance would be all that Pete Hood needed to see.

Pete Hood is one of those legendary mechanics. He wouldn't just lend his services to anybody. He picked who he was going to work with, and, he certainly liked what he saw in Kemp. So Hood would come on board and would immediately set to work preparing the Mustang. Lightening the car, rebuilding the engine and tuning the suspension, Hood would take everything into account. Kemp would make up the difference. And, throughout '68 and '69 there really wouldn't be anything that would be faster than this pairing.

Starting in 1968, Kemp and the GT350R would begin a winning streak that would last seventeen races. Kemp and his Shelby Mustang owned the B-Production class. They would also own the speed record at Riverside. But this would only set the stage for a remarkable day at Daytona in 1969.

Kemp was leading the B-Production class, as usual, and therefore, had no need to fight with the A-Production cars, like the Corvettes. However, curiosity would get the better of him. It had been agreed between himself and Hood that he would keep the Mustang in the low-to-mid 7,000rpm range. However, as he found himself in front of one of the A-Production Corvettes he would keep his foot on it just to see where he stood against the 'better' cars. Down the long straight, there wasn't another car any better as Charlie would clock 184mph in the GT350R. This would not only be the fastest speed for a 289-powered Mustang GT350R, it would prove to be faster than any 289-powered Cobra! Furthermore, Kemp was able to pull away from the Corvettes down the straights. He would lose ground in the turns, but would be able to make it back up when they got to the straights again.

To say the Mustang and Kemp together were remarkable would be to fall short of the mark. In total, Kemp would start 54 races with the GT350R. He would managed to finish 42 of those races and 32 of them would result in wins. That is a winning percentage of more than 61 percent!

Such success meant other racing series came calling on Kemp. He would soon part with the Mustang as he headed off to Can-Am. Unfortunately, the McLaren M8C that he would drive would prove not to be the partner Charlie had grown accustomed. Therefore, he would purchase 5R538 back after about a year and would return to the track with the Shelby Mustang. The Mustang, back in Kemp's possession, would never head off to another owner.

When it was all said and done, Kemp and 5R538 would hold a number of lap records, in addition to its great winning record. Kemp just could not part with such a special automobile. Some time after coming into the new millennium, Kemp and Hood would partner together again with the task being to restore 5R538 to its former glory. Their intention was to restore the car to its former racing specifications. This would include retaining the original wood-trimmed steering wheel, pair of 22-gallon fuel tanks and even the signature #23 livery. What's really remarkable is that much of the original sheet metal remains to this very day, along with a number of other details that had been a part of the car back in the late 1960s.

As he had been in the days of old, Hood would be tasked with tearing apart and rebuilding the 289 engine. Amazingly, the car still has its original aluminum Cobra intake manifold with a Holley carburetor. Finished, the engine still snorts fire as it did more than 40 years ago and is sure to take any historic race by storm.

Complete with such finishing touches as a couple of Carroll Shelby signatures and the same 430hp engine that earned Kemp the record, 5R538 is certainly a rare opportunity of any kind. As Kemp states, 5R538 is 'kind of a magical car…' There would be no doubting this fact. And, such magical cars are capable of incredible feats. As a result, it has the opportunity to set yet another record.

Sources:
'Lot No. 147: 1965 Shelby Mustang GT350R', (http://www.rmauctions.com/lots/lot.cfm?lot_id=1063817). RM Auctions. http://www.rmauctions.com/lots/lot.cfm?lot_id=1063817. Retrieved 11 February 2014.

'Complete Archive of Charlie Kemp', (http://www.racingsportscars.com/driver/archive/Charlie-Kemp-USA.html). Racing Sports Cars. http://www.racingsportscars.com/driver/archive/Charlie-Kemp-USA.html. Retrieved 11 February 2014.

'1966 Shelby Mustang GT350R News, Pictures, Specifications and Information', (http://www.conceptcarz.com/vehicle/z11014/Shelby-Mustang-GT350-R.aspx). Conceptcarz.com: From Concept to Production. http://www.conceptcarz.com/vehicle/z11014/Shelby-Mustang-GT350-R.aspx. Retrieved 11 February 2014.

By Jeremy McMullen

Chassis# SFM-5R538

2018 Barrett-Jackson : Scottsdale
Lot was not sold
2014 RM Auctions - Amelia Island
Pre-Auction Estimates :$900,000-$1,200,000 
Sale Price : $984,500

Analysis

Chassis number SFM-5R538 Auction Sales History
2014$984,500

2018 1
2016 2
2015 1
2014 1
2012 2
2011 1
2009 2
2007 2
2006 2
2005 1

YearAvg. SaleHigh Sale# of Sales
2018$720,000$720,0001
2016$427,350$742,5002
2015$770,000$770,0001
2014$984,500$984,5001
2012$728,750$990,0002
2011$173,250$173,2501
2009$284,625$396,0002
2007$447,700$852,5002
2006$869,000$990,0002
2005$473,000$473,0001

Recent Sales

(Data based on Model Year 1965 sales)
1965 Shelby GT350 R
Chassis#: SFM 5R096
Sold for $720,000
  2018 RM Sothebys : Monterey
 
1965 Shelby GT350 R
Chassis#: SFM 5R108
Sold for $742,500
  2016 RM Sotheby's : Monterey
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  
1965 SHELBY GT350SR FASTBACK
Chassis#: CA950181
Sold for $112,200
  2016 Barrett-Jackson : Scottsdale, AZ
 
1965 Shelby GT350 R
Chassis#: SFM 5R108
Sold for $770,000
  2015 RM Sotheby's : The Andrews Collection
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  
1965 Shelby Mustang GT350 R
Chassis#: SFM-5R538
Sold for $984,500
  2014 RM Auctions - Amelia Island
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  
1965 Shelby GT350 R
Chassis#: SFM5R106
Sold for $990,000
  2012 RM Auctions - Monterey
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  
1965 Shelby GT350 'R' Model
Chassis#: SFM5R537
Sold for $467,500
  2012 Russo and Steele - Scottsdale
 
1965 Shelby Mustang GT350 Fastback
Chassis#: SFM5S110
Sold for $173,250
  2011 Worldwide Auctions - The Classics at the Trump Taj Mahal
 
1965 Shelby GT350 R-Model
Chassis#: SFM5R537
Sold for $396,000
  2009 Russo and Steele - Monterey 2009
 
1965 Shelby GT350 R-Model
Chassis#: SFM5S384
Sold for $173,250
  2009 Russo and Steele - Monterey 2009
 
1965 Shelby Mustang GT 350 R Competition
Sold for $852,500
  2007 Monterey Sports and Classic Car Auction
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  
1965 Ford Mustang GT350 R
Sold for $42,900
  2007 Russo and Steele - Scottsdale 2007
 
1965 Shelby Mustang GT 350 R Competition
Sold for $748,000
  2006 Gooding & Company Pebble Beach Auction
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  

Sold for $990,000
  2006 RM Auctions at Amelia Island
 
1965 Shelby GT350 R
Chassis#: SFM5R535
Sold for $473,000
  2005 Russo and Steele - Monterey 2005
1965 Shelby Mustang GT 350 R Competition image  1965 Shelby Mustang GT 350 R Competition image  
1965 Ford Shelby GT350 'R' Model
Sold for $206,700
  2003 The Florida Collector Car Auction
 

No Sale

1965 Shelby Mustang GT 350 R Competition's that have appeared at auction but did not sell.
VehicleChassisEventHigh BidEst. LowEst. High
1965 Shelby GT350 RSFM 5R2132018 RM Sothebys : Scottsdale, Az. $1,000,000$1,200,000
1965 SHELBY GT350RSFM5R5382018 BarrettJackson : Scottsdale   
1965 Shelby Mustang GT350 RSFM5R5312013 RM Auctions Arizona$730,000$750,000$950,000
1965 SHELBY GT 350 COMPETITION MODELSFM5R5342011 Worldwide Auctions The Auburn Auction   
1965 Shelby GT350 RSFM5R1082011 The Scottsdale Auction Gooding & Company $650,000$850,000
1965 SHELBY GT350RSFMR5R05302011 Russo & Steele Scottsdale, Arizona   
1965 SHELBY GT 350 FASTBACK 2010 Mecum Auction Kansas City, MO$185,000  
1965 Shelby Mustang GT350 R 2009 Mecum Original Spring Classic Auction 22nd Year$500,000  
1965 Shelby Mustang GT350 R 2008 Gooding & Company $700,000$900,000
1965 Shelby Mustang GT350 R Competition FastbackSFM5R5332007 Vintage Motor Cars in Arizona$700,000$750,000$950,000

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1965 Shelby Mustang GT 350 R Competition vehicle thumbnail image  1965 Shelby Mustang GT 350 R Competition vehicle thumbnail image  
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1965 Shelby Mustang GT 350 R Competition vehicle thumbnail image  1965 Shelby Mustang GT 350 R Competition vehicle thumbnail image  


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