1968 Shelby Mustang GT500KR Spent Decades in a Farmer's Barn, Needs a Nose Job

The GT500 also spawned a couple of rare iterations. The Super Snake is perhaps the most iconic. Fitted with a race-spec 427 FE mill from the GT40, it hit the road with a whopping 650 horsepower. But Shelby built just a prototype due to limited interest in such a monster.

But in 1968, Carroll decided to drop the Cobra Jet V8 into the GT500 to create the KR. Short for "King of the Road," the KR was very similar to the regular GT500 apart from the engine and the decals. Rated at 335 horsepower on paper, the Cobra Jet mill was actually less powerful than the 355-horsepower 428 FE in the GT500. But it was later found out that KR was good for 435 horsepower.

While the Cobra Jet engine remained stock, it did come with aluminum valve covers with "Cobra LeMans" lettering to celebrate Ford's victory over Ferrari at the 24 Hours of Le Mans in 1966 and 1967.

Shelby produced 4,658 cars in 1968, 1,664 of which were GT350s. GT500 production included 1,542 examples, while the GT500KR rolled off the assembly line in 1,452 units. The KR is thus the rarest Shelby-designed Mustang built that year.

Naturally, they're hard to find and are quite expensive when in excellent condition. Chances you'll find one forgotten in a barn are slim, but here's a KR that was taken out of long-term storage somewhere in Illinois recently.

Documented by YouTube's "Auto Archaeology," this 1968 GT500KR reportedly spent 20 years in a farmer's barn before it was moved to another building, where it sat for another 10 years. That's a whopping 30 years off the road and a rather sad fate for such a rare muscle car.

The story is quite familiar. The owner kept it in storage in hopes that he will restore it at some point, but that day never came. Fortunately, he agreed to sell it, and the old Shelby found a new home. One that will provide the much-needed refresh.

The car might not be in great shape right now, but it's a fantastic survivor. A white car from the factory, the GT500KR was repainted red at some point. But whoever restored the exterior did a good job and added the GT500-specific decals back on the side skirts.

But while the paint is not original, the Magstar wheels are. And they're quite rare too. The interior is also original and in solid shape, including the seats that were removed for safekeeping.

And don't let the missing front end fool you, this car is complete, and it comes with the original, numbers-matching 428 V8 engine. Yup, it needs a nose job, and the mill needs to find its way back under the hood, but it's a solid car that could become road-worthy without a full and expensive restoration.

But of course, like any GT500KR out there, this Shelby would be better off with a frame-off restoration because it has the potential to become a Concours-winning classic.