Click the image above for more pics of Carroll Shelby's 1969 Shelby GT500

When the GT500 KR was unveiled at New York this past spring, we pressed Ford's SVT team as to why the SVT badging was absent from their creation. Their answer was so simple and obvious that it bears repeating. A 500 HP SVT Mustang doesn't sell for $30,000 over invoice, but if you add Carroll Shelby's name to it, a killer car becomes an instant sensation. Much of the street cred Shelby currently has was earned during the 1960s, when Carroll took the Mustang from a "secretary's car" to a hot-rod pony car.

Mr. Shelby is apparently too caught up living in the present to give much thought to what he did 40 years ago, as he plans on putting his 1969 Shelby GT500 convertible up for auction in January at Barrett Jackson. The vintage hotrod, which has nearly 70,000 miles on the odometer, is sure to fetch quite a premium over an already valuable '69 owned by some lucky schlep. The great-looking collectible is powered by a 428 Cobra Jet engine and has recently undergone a restoration. If you want to get in on the bidding action, make sure to get a lean on your mortgage, or just show up rich. It's gonna fetch a bundle. The press release is available after the jump.

[Source: Shelby via Jalopnik]
Related GalleryCaroll Shelby's 1969 Shelby GT500


PRESS RELEASE

SCOTTSDALE, Ariz. - October 26, 2007 - Carroll Shelby will sell his 1969 GT500 convertible, which he has owned since it was new, at No Reserve during the 37th Annual Barrett-Jackson Collector Car Event on Jan. 12-20, 2008, in Scottsdale, Ariz. It is the only Ford-based Shelby Mustang that he has owned continually since it rolled off the assembly line. The historic muscle car will be showcased during the SEMA show in Las Vegas from Tuesday, Oct. 30 - Friday, Nov. 2, 2007, in the Barrett-Jackson booth (#20765), located in the "Racing and Performance" area of Central Hall at the Las Vegas Convention Center.

"Barrett-Jackson attracts the most important collector cars because it is the greatest stage in the world to buy and sell these fantastic pieces of history," said Barrett-Jackson Auction Company Chairman/CEO Craig Jackson. "Last year, we sold the only 427 Shelby Cobra built specifically for Carroll in Scottsdale and now we have the only Shelby Mustang that he's owned for the past three decades. This is an opportunity to be the second owner of a premier car and purchase it from the man himself on the weekend we celebrate his 85th birthday. This special car will also be a highlight of our SEMA display, which will be more impressive than ever this year."

One of only 246 Ford Shelby GT500 convertibles built in 1969, Mr. Shelby's personal 428 c.i.d. Cobra Jet powered car has only 69,725 miles and came originally equipped with automatic transmission, GT equipment group, white interior and top, intermittent wipers, power steering, power brakes, tilt steering, factory A/C, AM-FM stereo radio, tachometer and trip odometer.

The red convertible was recently restored under the direction of Stephen Becker, a world-renowned collector and broker of vintage Shelby Cobras, GT350s and GT500s. Becker engaged well known and respected Shelby restorer Jim Cowles at Shelby Parts & Restoration in Green Bay, Wisc., to complete a Concours rotisserie freshening of the car.

"The only other Shelby that Carroll has owned longer than this GT500 is the first Cobra, CSX2000," noted Steve Davis, President of the Barrett-Jackson Auction Company. "With its recent restoration by one of the premier shops in the country, this historical GT500 would be a monumental acquisition for any serious collector."

Another car slated for the Barrett-Jackson auction block in Scottsdale that will be featured at SEMA is the one-off 1963 Corvette "Rondine," which will be staged in the AutoWeek booth (#20715). The Pininfarina-bodied concept car was designed by Tom Tjaarda and unveiled at the 1963 Paris Auto Show. Barrett-Jackson will also sponsor the Overhaulin' Studio, where they will display three Scottsdale-bound cars in the silver lot.

"SEMA is a haven for gearheads and the industry's most influential players, making it the ideal venue to showcase our lineup for Scottsdale," added Davis. "Barrett-Jackson has taken enormous strides in the past few months to further establish our position as the world's leading producer of collector car auctions."