Rare 1970 Shelby Mustang GT500 Resurfaces After Three Decades in Storage
A largely untouched 1970 Shelby GT500 fastback has emerged from long-term storage with its original engine intact, underscoring the enduring financial appeal of original classic automobiles in the collector market.
A rare 1970 Shelby Mustang GT500 has been discovered after spending approximately thirty years off the road. Documented by Ryan Brutt of the Auto Archaeology channel, the vehicle has remained largely untouched since it was parked in the 1990s.
For collectors and alternative asset investors, the car’s condition is a critical factor in its valuation. It retains its numbers-matching 428-cubic-inch Cobra Jet V8 engine, a feature that heavily dictates pricing and desirability in the classic automobile market.
Although badged as a 1970 model, the vehicle is mechanically identical to the 1969 iteration. Ford assigned 1970 vehicle identification numbers to unsold inventory after the manufacturer and Carroll Shelby concluded their partnership in the summer of 1969.
This specific configuration is exceptionally scarce. Historical data indicates that only 788 unsold Shelby Mustangs received 1970 VINs, with just 470 designated as GT500 models. Of that subset, a mere 380 were built as fastbacks.
The vehicle has been under the same ownership since 1974. It was initially housed in a barn, relocated to an alley following raccoon damage to the interior, and eventually returned to barn storage after a property transfer.
Time has degraded the cabin, which is now cluttered with spare parts and shows heavy deterioration. However, the exterior body remains solid beneath faded Aztec Aqua paint and white racing stripes, suggesting it would respond well to professional conservation.
The factory-installed 7.0-liter V8 produced 335 horsepower. This made it one of the most potent first-generation Mustang powertrains available, surpassed only by the ultra-rare Boss 429 variant.
Preserving this original drivetrain significantly enhances the vehicle's investment profile. Market experts estimate that a properly restored example of this rarity could command well over $100,000 at auction, with exceptional specimens fetching even higher premiums.
Immediate restoration is not currently underway. The present owner is prioritizing structural repairs to the storage barn to shield the automobile from further environmental exposure before any long-term preservation strategy is finalized.
