'Little Red' 1967 Ford Mustang Shelby GT500 found after 50 years, could be worth millions

Fox News ^ | 18 Aug 18 | By Gary Gastelu

[SkyPilot]

Seek and ye shall find. Eventually.

A legendary Ford Mustang that many thought was destroyed 50 years ago has been discovered rotting away in a Texas field. And it could be worth millions.

Affectionately called Little Red, the 1967 model was an experimental car that Ford loaned to Carrol Shelby to use as a test bed for the development of performance parts. Little Red and a later car, unofficially known as the Green Hornet, were the only two Shelby GT 500 notchback coupes of their era, each sporting a snazzy vinyl roof.

Shelby’s crew tinkered with the cars, trying out different body parts, engines and transmissions. Little Red was primarily configured with a supercharged 428 V8 and 3-speed automatic transmission, while the Green Hornet was fitted with a prototype independent rear suspension that never made it into production, but remains on the car today.

Little Red made an appearance at a Ford preview event in Los Angeles, where it inspired the creation of the first California Special Mustang, which aped its styling, if not performance. Shelby eventually sent the cars back to Ford for a date with the crusher, as was standard practice for prototype cars, but they both stood it up.

The Green Hornet showed up at a Ford employee auction in 1971 and was resold several times until it ended up in the garage of Barrett-Jackson Auction House CEO, Craig Jackson, about 15 years ago. Little Red just disappeared.

A half-century of failed attempts to find it seemed to back up the prevailing view that it had been crushed. But like any good mystery, all that was missing was the right key to unlock it. Then Jackson got his hands on it.

[pepsi_junkie]

If they made that car today, it would sell.

There are probably 1000 regulations that would prohibit them from remaking and selling that car the same as it was. Safety, fuel efficiency, emissions, yadda yadda yadda. It's so bad that Ford is just walking away from the passenger car market, they can't make any money after the put all that mandated stuff in.

[SkyPilot]

The Mustang from Bullitt is still my favorite.

One of Two Original Bullitt Movie Mustangs Reportedly Found in Mexico

[SkyPilot]

In the mid 80's I owned a 1970 Plymouth 440 Cuda Convertible with factory-equipped air conditioning. It needed a total restoration, but unfortunately, I sold it for peanuts to help finance the restoration of my 1971 Dodge Charger SE equipped with a 383 Magnum and air conditioning.

Many of us have been there gigster. My brother and I let go a 1971 Plymouth Duster V-8 for $125. He hit a tree, and the right front quater panel and hood were screwed. We didn't know what we were doing. We just wanted it gone at the time so we had some cash to get something else.

[SkyPilot]

Cosby’s “200 m.p.h.” bit where Carroll Shelby presents him with a Cobra Mustang while lecturing him about driving foreign cars was a real hoot. I thought it was fiction.

Cosby also had many Ferraris.

[taildragger]

"If they made that car today, it would sell."

* In theory they could.
* Paul Ryan and the boys and Obama signed a bill for boutique manufacturers to exempt form all safety regs for replicas etc if they make less than 250 / yr.
*So, 249 a yr from a supplier sell them through Ford.
* Now this is where I get the arrows.
* Those 250 needed clean engines ( LS's etc )
* Na, go electric, Solid State Batteries will be here in no time, the Anode Revolution after that, so range and charging anxiety will be a thing of the past before you know it.

So a "Shelby-Clone" 67' Coupe w/ a E-Drivetrain that goes like stink, is not out of the question.

[Daffynition]

Bronx in the 60s, woulds taken care of that eyesore.

[Kickass Conservative]

I had Vintage Air added to my 69 Chevy El Camino.

The Unit was mounted under the middle of the Dash.

[newfreep]

I should have mentioned upon leaving the Ford dealer, the brakes failed on my new Mustang.

It was certainly an omen of things to come.

[vetvetdoug]

For the next 15 years Caroll Shelby's Mustangs will bring top money. I watched one of his two Shelby's at an auction bring $1.2 million dollars and there are many men with money that will pay to have one of his products to ride or restore.

[Lean-Right]

The Falcon was a pretty good car.
I had a 1965 Falcon Ranchero with
a 289, bored .030 over, flat top
forged pistons, and at the time,
what was called a 3/4 race cam,
A Offenhauser high rise, Holley
600 cfm 4bbl, and headers.
I’ve owned 4 different
Mustangs, and one GM product.
A 1981 Corvette, which was the
biggest piece of junk that’s
ever graced my garage.

[wally_bert]

Thanks for the tip about Vintage Air.

I bookmarked them for later.

The Blazer’s AC system is overall bad shape and I’m not a purist for factory this and that.

For what it would cost me to buy all the stuff to make it look factory plus all the AC I don’t know, I’m for yanking the remnants. It was a barn find.

I put an aftermarket marine type heater in my 65 Willys. All of the original plastic at up so much room.

The marine unit wasn’t much to install

I kind of over-engineered the dash wiring job and didn’t allow for a defrost duct and hose.

[Kickass Conservative]

It’s been a long while, but I remember the Unit didn’t actually integrate into the Car’s Ventilation System.

It meant you didn’t have to mess with any of the Factory Dash controls. The Car’s idle had to be adjusted up because of the drag from the pully. The good old days of a Holley 4 Barrel.

[Moonman62]

I would also like people to think about why that scrap of rusty metal is worth so much, and how much it will be worth when it’s restored.

[jamaksin]

Or,

Found
On
Road
Dead

[SaveFerris]

F-15? I’m jealous.

I had that ‘67 Fastback. In a different color.

[SaveFerris]

Yeah I understood what he was saying.

[ETL]

Very nice! It’s my favorite year and model (Fastback).

[ETL]

[SkyPilot]

I wish you still had it! We could go for a ride.

[ETL]