1965 Shelby Mustang GT 350

The ultimate Shelby, with serious factory modifications

Race car driver, car builder, chicken farmer, chili chef, heart transplant survivor, children’s charity founder—Carroll Shelby is all of these, a living legend. And as Shelby’s legend has grown, so have the values of his cars.

The subject car, SFM5R535, is one of five competition Shelbys sold new to Peru, where Sr. Benito Lores of Lima was the original owner. The “R” in the fifth digit of the Shelby serial number denotes a race version; street cars carry an “S” in this position. (As with other early Shelbys, this car also carries a Ford serial number.)

The car was reportedly raced twice by the second owner, Pity Block, also in Peru. The third owner, Sr. Humberto Requena, of Piura, Peru, reportedly broke the block in a race in 1967. He is said to have kept the car for 10 years before an unidentified Peruvian resident became the fourth owner, and used 5R535 as a street car. In 1982, yet another Peruvian, Sr. Brazato Vichic, owned the car...