The Shelby Mustang GT500KR is muscle car royalty, and this 1968 convertible is ticking all the right boxes for collectors. Dressed in its original Acapulco Blue over black Luxury vinyl, it packs the iconic 428 Cobra Jet V8 and a four-speed manual. With 79,000 miles showing, it’s now up for grabs on Bring a Trailer after a seven-year restoration saga.
Bring a Trailer
What It’s Worth Right Now
According to Classic.com, the 1968 Shelby Mustang GT500KR is still flexing hard in the collector market. The Collector Market Benchmark is parked at $214,671, with average sales hitting $226,631 across 24 documented deals.
Recent sales are all over the map, depending on how original, clean, or rare the car is. Prices have landed anywhere from $118,610 to a jaw-dropping $385,000 for the best of the best. The latest sale? $232,650 – proof that collectors are still hungry for a pristine GT500KR.
Bring a Trailer
This convertible checks all the right boxes: factory Acapulco Blue paint, a four-speed manual, and that rare convertible body. Out of just 518 GT500KR convertibles built in 1968, only 267 got the 428 Cobra Jet and four-speed combo, so you’re looking at a seriously exclusive slice of Shelby history.
Condition and Details
The listing says this convertible spent 2014 to 2021 getting the royal treatment at Orlando Mustang in Florida. It got a fresh coat of factory Acapulco Blue and a tidy engine bay, all while keeping that original look. Restoration docs and a drivetrain rebuild come with the sale.
Bring a Trailer
From the factory, you get a power black convertible top, power steering, power front discs, Shelby 10-spoke alloys, a roll bar, and all the right packages: Interior Décor, Visibility, and GT Equipment. Inside, it’s black Luxury vinyl with woodgrain everywhere – dash, console, doors. There’s even a Tilt-Away steering column and original shoulder harnesses.
Bring a Trailer
Under the hood sits Ford’s 428-cubic-inch Cobra Jet V8 with a Holley four-barrel carb. Shelby said it made 335 horsepower and 440 lb-ft of torque, all sent to the rear wheels through a four-speed manual and a 3.50 Traction-Lok limited-slip diff.
Bring a Trailer
The Offer
| Specification | Detail |
| Make | Ford / Shelby |
| Model | Shelby Mustang GT500KR Convertible |
| Year | 1968 |
| Mileage | 79,000 miles shown |
| Engine | 428-cubic-inch Cobra Jet V8 |
| Power | 335 hp / 440 lb-ft |
| Transmission | Four-speed manual |
| Drive Type | Rear-wheel drive |
| Differential | 3.50 Traction-Lok limited-slip |
| Exterior Color | Acapulco Blue |
| Interior Color | Black Luxury vinyl |
| Wheels | 15-inch Shelby 10-spoke aluminum wheels |
| Brakes | Power-assisted front disc brakes |
| Steering | Power steering |
| Seller Location | Anaheim, California |
Interested in this Shelby Mustang GT500KR Convertible? View the listing here.
What Makes the Shelby Mustang GT500KR Convertible Unique
The GT500KR – King of the Road – showed up halfway through 1968 as the top dog in the Shelby Mustang lineup. It came loaded with unique touches: a fiberglass hood with a real scoop, Lucas driving lamps in the grille, quarter-panel scoops, sequential taillights, and Shelby-only badging.
Bring a Trailer
The convertible is a real unicorn thanks to its tiny production run – just 518 built, making it way rarer than the hardtop. Throw in the 428 Cobra Jet V8 and four-speed manual, and you’ve got one of the most wanted combos in the Shelby world.
Final Thoughts
This listing brings a restored GT500KR with factory-correct colors, all the right gear, and a stack of paperwork – including a Deluxe Marti Report and restoration binders. That kind of documentation is gold for buyers who want the real deal, not just a lightly restored or tweaked Shelby.
The auction is just getting started, with the current bid at $9,992 – just the opening salvo. Given how hot GT500KR values have been, this is definitely one to keep an eye on as the clock ticks down.
Disclaimer: This post is for informational purposes only. We are not a dealership or broker. All vehicle specifications, pricing, and availability are subject to change without notice. We are not responsible for typographical errors, omissions, or the accuracy of the provided information. Please verify all details directly with the seller.
About the author
Jacob Oliva
Senior Editor, Autoblog