1965 Shelby GT350R

$53.8M for Mecum's biggest ever year in Monterey
Thursday, 12 August - Saturday, 14 August 2021
Sale Price
14 August 2021
Sold Date
Lot Number
Recent restoration
Mecum Auctions
Auction House
Chassis no. SFM5R538. White with blue stripes and orange front apron over black vinyl. 289/306hp, 4-speed, Comp T/A tires, side exhaust, woodrim steering wheel, fire bottle.

Evaluation: One of 34 production GT350 Rs. Won an SCCA regional title with Roger West then won 17 races in a row in 1968-69 with Charlie Kemp driving. Kemp won a total of 32 races out of 54 entered through 1971. Also clocked at 184 mph at Daytona, represented as the highest known speed for any 289-powered Shelby, Cobras included. Restoration finished last year and done just right to race standards, fresh but not overdone.

Bottom Line: Lauded as the “winningest Shelby ever,” this car was the better of the two GT350Rs offered in Monterey this year and would be a highlight of any race car or Shelby collection. It sold for $984,500 at RM Amelia 2014 but has gotten a sympathetic restoration since then and the market for classic Shelbys, especially significant ones, has only grown over the past seven years. There are few true million-dollar Mustangs, and this is one of them.

by Andrew Newton
21 August 2021
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Condition definitions
Condition #1: Concours
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is “concours.“
Condition #2: Excellent
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is “excellent.“
Condition #3: Good
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. “Good” is the one word description of a #3 vehicle.
Condition #4: Fair
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. “Fair” is the one word that describes a #4 vehicle.
Condition #5: Poor
Running, but battered, incomplete, and perhaps rusty.
Condition #6: Parts car
Parts car.
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.