The vehicle, which comes in the classic Shelby racing colours of white with blue Le Mans stripes, has spent 30 years stored in the shed of an American Ford dealer until his death in 2001, when it was discovered with reportedly just 40,950 miles on its odometer.
“The Shelby then underwent a comprehensive, ground-up rotisserie restoration back to its original factory specification and factory colour scheme in the hands of a subsequent owner,” Shannons says in a release.
The exhaust was changed to 1965 side pipe configuration using a reproduction system and the transmission was changed to a T-5 five-speed gearbox for improved highway driving, although the original transmission and components remained with the car.
The model arrived in Australia with 41,600 miles on the clock shortly after the restoration was completed in mid-2004, and has covered a further 1,000 miles since.
Shannons expect the car to sell in the $220,000 to $260,000 range “because of its excellent provenance – including Shelby American Club verification – low mileage, and its important status as an early Shelby.”
This Shelby GT350 is one of 40 vehicles and around 30 items of memorabilia in the Shannons Collectors’ Auction at Motorclassica.