Craig Jackson’s 1965 Shelby Mustang Is Heading to Auction – Robb Report

Model: 1965 Shelby GT350

Engine: Ford “HiPo” K-code 289 ci V-8

Power: 306 hp at 6,000 rpm

Torque: 329 ft lbs at 4,200 rpm

Transmission: All-aluminum BorgWarner T10M four-speed manual gearbox

Wheelbase: 108 inches

One of the most influential American muscle cars of all time, the Ford Mustang debuted in April of 1964 but was quickly given a boost in prominence by none other than Carroll Shelby and his brawnier Shelby GT350. Beginning in 1965, Ford sent an allotment of Mustangs—based on the 1960 Ford Falcon platform— to Shelby’s facility in Southern California, where Carroll and his team gave the original “pony car” more power and performance, while souping-up its overall impact on the industry.

Only 562 examples of the 1965 Shelby GT350 were produced, so imagine coming across one today that’s in immaculate condition, maintains 99 percent of the original factory components and has only 19,000 miles on it. That’s exactly what’s crossing the block at Barrett-Jackson’s Scottsdale sale, running March 20 through 27. Equally impressive is that the example, currently owned by the auction house’s co-founder Craig Jackson, is being offered without reserve.

Jackson, a renowned Shelby collector, has strong ties to not just Carroll’s cars, but the man himself. “I knew Carroll since I was seven or eight years old, and when I got my first Cobra, I had him sign it,” say Jackson. “We did 100 of the Barrett-Jackson Shelbys . . . the lowest production run of Shelbys, and sold the first Shelby GT500 at Scottsdale for $600,000 for his foundation. Then we sold his personal Super Snake for $5.5 million, with him on the block. We held his 80th birthday party at the auction—so we’ve really been connected to Carroll for a long time.”

That bond with the late automotive innovator is demonstrated in the painstaking restoration of chassis No. 5S553, originally sent from Ford’s factory in San Jose, Calif., to Shelby American’s operation at Los Angeles International Airport. There, it was given the GT350 treatment, a suite of enhancements that included the addition of a “high-riser” intake manifold and welded-tube headers for engine optimization, as well as fit with better brakes and suspension.

After being used as a public-relations vehicle, it was sold by a SoCal dealership to brothers, one of whom used it to haul dirt bikes and had a road mishap that damaged the idler arm. Repaired incorrectly, the car proved difficult to drive and sat protected but unused for decades until a few Mustang experts, including John Brown of Thoroughbred Restorations and Barrett-Jackson’s own Jason Aker and Jeff Catlin, put the barn find on Jackson’s radar.

“We decided to restore it because the interior was perfect and it still had every single original Shelby part on it,” notes Jackson. “Jeff came to me and goes, ‘We can make the world’s best Shelby out of this car.’ The original carpet, the original seats; the whole car was just a time warp.”

Finished in Wimbledon White with blue Le Mans racing stripes, the GT350 being presented in Scottsdale represents 2,000 hours of labor that included reducing the vehicle to bare metal, a fully documented disassembly and all pieces restored, rebuilt or replaced with date-coded originals as needed. According to Jackson, some of the components are among “just a handful on the planet.” The concours-ready machine also has its original 306 hp small block V-8, four-speed manual transmission, and interior.

This pristine GT350’s rarity, and the work done to ensure exclusivity, has garnered a trifecta of perfect scores that earned it the Mustang Club of America (MCA) Gold in the Thoroughbred Class, Shelby American Automobile Club’s Premier Award and the MCA’s Authenticity Award—a feat regarded as the coveted Triple Crown among enthusiasts.

Those accolades and what they represent are a major reason why Jackson decided to part with his automotive unicorn. “Until last week, I had never driven the car,” he mentions. “I smoke the tires on almost every car I have. I drive my cars hard, the way they’re meant to be driven. This one should go in a museum. It should be put in a glass case filled with argon and kept until the end of time.”