SCM Analysis
Detailing
The car described here sold for a high bid of $68,200, including commission, at the RM Classic Car Auction held in Amelia Island, Florida, March 11, 2000.
Under the banner of “Total Performance,” Ford was hell-bent to become the performance car manufacturer in 1965. General Motors had (again) withdrawn their official support of motor racing, netting the 427 Galaxie forty-eight wins in NASCAR competition that year. Even the mom-and-pop Fairlane was available with a Hi-Po 289, but it was the Mustang that shook up the competition in the showrooms and the race track with over 500,000 cars sold that year. Only 35% of the Mustangs built had a six-cylinder engine. Clearly, performance was the name of the game and Ford upped the ante with the group of fastbacks shipped to Shelby for “treatment.” Priced at almost $2,000 more than a box-stock Mustang 2+2, the GT 350 wasn’t a cheap pony, but even at $500 more than a ’65 Corvette (with fuel injection), Ford easily sold all the cars built, with a view of bigger production numbers in 1966.
It is interesting that Ford did not seek out homologation or SCCA approval for the coupe or fastback in ’65. A clever move, allowing Shelby to submit the cars in GT 350 guise as production sports cars and not sedans. This allowed the Shelbys to have a go at the “B Production” Corvettes, something they couldn’t have done as sedans. Result? Three B Production championships on the track and buyers who were willing to spend more than the price of a ’65 Corvette fuelie just to have a replica of Shelby’s white racer.
Today, this is still true with top-notch, restored cars valued at $65,000, tidy, well- preserved cars at $55,000 and tired street cars at $40-45,000. This car, described by the SCM auction reporter as condition 1, would be hard to duplicate with the scarcity of GT 350s currently on the market. Its second place at the Shelby Nationals shows that this car passed the scrutiny of the SAAC judges as genuine and proper. This GT 350 was a fair deal, and a good investment, at the purchase price of $68,200.