Amazing find .... and also what caught my eye was how the Shelby Mustangs took a dive (referenced in the article) during the 2008 recession.
Shelby Mustang GT500 time capsule heads to auction
Stored 40 years, 1969 GT500 with just 8,531 miles found in owner's garage in Pennsylvania
[COLOR=#666666 !important]Larry Brown bought this car in Pennsylvania. Photo by R.
A 1969 Shelby Mustang that has been stored in a garage for 40 years will be sold at an estate auction. It was discovered along with a few other vehicles and assorted large garden machinery that belonged to a Pennsylvania man who passed away last year. One of about a thousand made, this Shelby Mustang GT500 has just 8,531 miles on the clock, and it is said to never have been driven in the rain or even washed by its owner for fear of damaging the paint.
That would make it not only one of the most original Shelby Mustangs in existence but also one of the lowest mileage examples known. So how did this time capsule end up in a garage filled with boxes and garden tools?
The upcoming estate sale will be auctioning off the possessions of Larry Brown, a resident of Centre Hall, Penn., who passed away with no living heirs on his birthday in 2013. Brown left behind a number of items that the estate's executor will need to dispose of, but the centerpiece of his estate is undoubtedly the GT500, which Brown purchased for $5,245.97 on May 9, 1969. All of the original paperwork is still with the car, and Brown is believed to have last driven the car regularly in 1973. That's when the car was last registered and that's the very last State of Pennsylvania sticker applied to the windshield.
The Shelby American World Registry shows that this was was sold new at Eger Motors Inc., in McKeesport, Penn., in 1969. Another dealership sourced the car for Brown: Miller-McVeigh Ford of State College, Penn., which also happens to be the last known dealership to have performed service on this car, adjusting the door glass under warranty in September 1969 with the mileage reading of 1,665.
R. Gilligan Auctions
The car was last started three years ago.
Upon inspection, the estate auctioneers have concluded that the car is mostly in original condition at the moment, though Brown or his mechanic seem to have removed the smog system, heat shield, s-tube, snorkel, and the sifter assembly. The auctioneers note that Brown seemed to have kept most these items, and they're hoping that they can locate them in the garage by the time of the sale. The tires are believed to be from 1970 or 1971, which may suggest that the car is on its second set of tires -- this would make sense given the mileage -- and there is also some indication that the tires were replaced under warranty. This GT500 is said to still wear its original wheels.
Under the hood of this GT500 is a 428 Cobra Jet engine making 335 hp, mated to a four-speed manual transmission, and the only change to the engine compartment appears to be a fine mesh wire installed to keep road debris from damaging the radiator (that's evidently the kind of owner that Brown was). Locals say he never drove it in the rain and no one has ever seen him wash it, as he was thought to be fearful of introducing any kind of moisture to the car's body, concerned that it would cause rust. The only time it might have been washed was when the dealership was prepping it for delivery, or so goes the thinking around Brown's neighborhood.
A moderate level of dust now covers the car now and Brown's mechanic has indicated that the last time this car started was three years ago. That's certainly a plus as the engine is unlikely to have seized, though we don't have information about the addition of a fuel stabilizer if the car was run a few years apart. But at least it's not sitting on flat tires. Other than that, the car is said to be in virtually as-new condition throughout, with very good chrome, glass, and decals.
R. Gilligan Auctions
The owner is said to have never even washed the car, for fear of it developing rust.
Whatever Brown's reasons for keeping this GT500 off the road after 1973, his custody of the car appears to have resulted in one of the most well-preserved time-capsule Shelby Mustangs in recent memory. And Brown's story has quite a bit in common with the story of the 1967 Chevrolet Corvette with 2,996 miles on the clock that was discovered under similar circumstances just recently.
The values of Shelby GT500s took a dive in late 2008, but the best examples right now still trade around the $120,000 mark. What this example will bring is anyone's guess, but with this car undoubtedly being one of the most original examples of this model discovered in years, we might see a result that surpasses prices of the best restored examples by tens of thousands. Due to the uniqueness of this find, it would be futile to try make more detailed predictions -- there aren't too many comparables in the post-2008 market environment, even though we're in the midst of a barn-find mania right now.
The estate sale is scheduled for April 25, which will see a couple more of Brown's vehicles go to the highest bidder, including a 1974 Ford Econoline Custom Van and a very sharp 1971 Ford Ranchero (definitely worth a look).
Click here to visit the estate auctioneer's website, which will hopefully remain up despite the web traffic in the weeks leading up to the sale.
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