This Shelby Mustang GT-500 is a rare and sought-after classic American muscle car, which has undergone a frame-off restoration and modification process, and is noted to have been fully engineered in Australia. Under the bonnet sits a 7 litre lightweight 427 crate motor with correct Shelby engine number, coupled with a Borg-Warner T-56 six-speed manual transmission. The seller notes that this Mustang is an original ‘S-code’ big-block car, which was sourced by Mark Logan, a retired Shelby dealer and personal friend of Carroll Shelby. The car is reported to have been purchased then shipped to the Shelby Las Vegas speed shop, where it was fitted with a Shelby lightweight 7-litre 427 crate motor with correct Shelby identifying engine number (Engine number decoded : SFM - Shelby Ford Mustang LM427 - Le Mans 427ci 3226 - consecutive number), producing 525bhp at the rear wheels, and a six-speed Borg Warner T56 manual transmission. First registered in the USA, the seller notes that this Mustang obtained Australian compliance in August 2013. The dashboard insert was hand-signed by Carroll Shelby in the owner’s presence, and the vehicle will be supplied with letters from Mark Logan and The Carroll Shelby Foundation, including a certificate of authenticity, the original title, and an original 1967 Shelby keyring. The car is also noted to retain its original numberplate. The odometer shows 15,445 km, which is the distance covered since the car’s rebuild. The vehicle’s true, total mileage is not known. Build year: 1967. This Mustang was painted in anti-rust base primer and resprayed in Viking Blue, with correct painted-on Wimbledon White racing stripes and GT-500 rocker panels. The car features 60mm rear quarter panel flares, allowing fitment of larger rear wheels if desired, as well as fully functional side scoops for cooling the rear brakes. It rides on 17-inch period-correct American Racing Torq Thrust D wheels, finished in grey with polished lips, framing four-wheel ventilated Wilwood disc brakes, and wrapped in BF Goodrich tyres. Equipment includes coilover suspension, a Ford nine-inch limited-slip differential, rack-and-pinion power steering, cruise control, an IDITIT adjustable steering column, and correct 8,000 rpm Shelby analog gauges, which have been converted to show kilometres per hour. The car also features a right-hand drive conversion, including a custom hand-beaten firewall and wiper conversion. The cabin features Procar by Scat racing front seats, trimmed black leather, which have been integrated with the original Shelby box weave inserts. The seller believes that this is the only Shelby which has an all-steel custom fabricated hood including steel louvres and full steel air scoops. It is reported that this was achieved at significant cost to eliminate the warping of the fibreglass hood over time from engine heat. It is also noted that a custom rear steel valance incorporating the tail light assembly was produced and welded into the body to make sure this car would not suffer from leakage issues. The car features an original 1967 Shelby wood grain steering wheel, a Shelby half roll cage, a modified centre console, deluxe door trims, central locking with remote boot release, air conditioning, satellite navigation via an updated head unit, and a dashboard insert hand-signed by Carroll Shelby, with a certificate of authenticity. The car will be supplied with its letters of authenticity, the original registration plate, fold-out maps and dust cloth case, a copy of a 1967 issue of Road and Track showcasing the GT-500, and some photographs of the restoration process. Please refer to the photo gallery to assess the exterior and interior condition. Specific notes from the seller include: one small chip on the nearside door; the driver’s outer seat bolster shows minimal signs of wear; the cruise control is disabled. This Mustang’s most recent service was completed in May 2025 at an indicated 15,107 km. This Shelby Mustang GT-500 is a rare and sought-after classic American muscle car, which has undergone a highly detailed frame-off restoration and modification process. Recently serviced, it would make an entertaining weekend steer with blistering performance and reliability, a crowd-pleasing car show companion, and a desirable addition to any collection.