Mecum’s Dallas 2024 auction wrapped up this past weekend, underscoring the current volatility in the classic car market.
While some renowned models failed to sell and a few HEMI Mopars were auctioned for lower-than-expected prices, other vehicles managed to fetch impressive sums, with one golden-era muscle car setting a new benchmark.
In July 2024, I reported on a 1968 Shelby GT500 that sold for $319,000. That one-of-five, low-mileage Mustang nearly set a record for its model.
At this weekend’s Dallas event, yet another one-of-five 1968 GT500 went under the hammer for over $300,000.
This time, however, it was a KR Convertible, and its $330,000 sale price marks a new record for the King of the Road-spec Shelbys.
The GT500KR, introduced mid-year with the then-new 428-cubic-inch (7.0-liter) Cobra Jet V8, saw only 1,452 units produced over a brief three-month period.
The KR replaced the earlier GT500, which had 1,542 units produced before the Cobra Jet engine was incorporated into Carroll Shelby’s lineup.
With the addition of the KR, Shelby reached his highest production year, manufacturing a total of 4,658 vehicles, including GT350s.
Among the 518 KRs made with a convertible top, this particular car stands out for its unique color and options combination.
Finished in Raven Black with a white top, it’s one of only five such examples outfitted with factory air conditioning and a black Decor interior.
It’s also the sole example that was shipped to Missouri, all of which is verified by an Elite Marti Report.Beyond its rarity, this GT500KR is an immaculate restoration, appearing pristine both inside and out.
The meticulously maintained engine bay conceals a numbers-matching Cobra Jet engine paired with a three-speed automatic transmission.
This well-equipped car features power brakes with front discs, power steering, a power top, a Visibility group, a tilt-away steering column, an AM radio, tinted glass, and a tachometer.
Its lineage is documented in the Shelby Registry.At $330,000, this KR Convertible narrowly edged out the previous record-holder, a red coupe that sold for $324,500 in 2022.
It now joins the exclusive ranks of just four Shelby GT500KRs to have sold for over $300,000, with three of these being convertibles.
However, this black beauty does not hold the title of most expensive 1968 Shelby. That record goes to the GT500 EFI prototype, which sold for an impressive $396,000 in 2021.
This one-of-five KR is tied for second place with another 1968 GT500 Convertible, which also fetched $330,000 in 2020.
The GT500KR was the third most valuable car auctioned at Dallas 2024, surpassed only by a 1933 Auburn 12-165 Speedster, which sold for $990,000, and a 2019 Chevrolet Corvette ZR1 Coupe, which went for $396,000.
It also claimed the title of most expensive classic muscle car sold at the event, with a 1969 Ford Mustang Boss 429 following at $280,500 and a 1970 Plymouth Superbird taking third with a $220,000 sale price.