1965 Shelby Mustang GT350

Sold for $572,000 at 2014 RM Auctions at Monterey.
Sold for $880,000 at 2020 Mecum : Indy.
Most of the Shelby GT350 models are the same. A few production examples were delivered with the Shelby-Cragar five-spoke mag wheels, while others rode on hubcap-less steel wheels. Most had stripes on the hood and rear deck, while all had manual transmissions and naturally aspired, 306 horsepower, 289 cubic-inch V8 engines.

Wanting to prove the car's potential, Joseph Granatelli returned to Shelby American's facility with a supercharged GT350, chassis 5010, and challenged Carroll Shelby to a drag race. Granatelli was to drive the Mustang while Shelby was to drive a much-lighter 289 Cobra. The supercharged GT350 not only left the Cobra in the dust, but also left Mr. Shelby very impressed. Shelby then placed an order for several hundred of the upgrade kits for use on future GT350s (many of which were factory- and dealer-installed on subsequent 1966–1969 GT350s). Estimates stated that the package was good for a 45-percent power increase, bringing the 306 horsepower rating up to over 440 horses.

This example, chassis number 5S425, is one of the two 1965 prototypes to be factory-equipped with a Paxton-supercharged V-8. It was delivered new to Shelby American's Los Angeles factory on June 4, 1965. About a week later, work began to manufacture the car into a GT350. Work was completed by the end of that month. The car was finished in iconic Wimbledon White with Guardsman Blue stripes and was wearing the Shelby-Cragar mag wheels.

The car then became a factory demonstrator before being shipped to Trudell Ford in Warren, Michigan. From there, it was purchased by William Kardosh, also of Warren, on July 7, 1966. In September, it was purchased by Lee Swonder, of Dearborn, Michigan. While under Swonder's care, the original engine was replaced with a new 302 long-block engine sometime later in the 1970s. The original engine was sold off, although its ownership history was closely documented.

The car remained under Mr. Swonder for thirty-eight years. The current owner purchased it from Mr. Swonder in 2005, becoming the car's third caretaker. The new owner was able to relocate its original engine and reunited it with the car. The car has an original, and unique, cast-finned aluminum 'Cobra' carburetor pressure box that sits atop the engine.

By Daniel Vaughan | Nov 2014