Shelby GT500 fetches big money
$280,000 sale was more than double estimates
Eric Kaminsky - April 30, 2014 10:00 AM
This 1969 Shelby GT500, stored for 45 years, sold at auction for $280,000.
A rare, low mileage (slightly more than 8,300 miles) Mustang that had been stored for more than four decades sold at an auction in Pennsylvania on April 25 for more than double the auctioneer’s estimates.
The car was part of an estate sale conducted in Centre Hall, Pennsylvania, about a dozen miles from State College, home of Penn State.
When the hammer fell, auctioneer Ron Gilligan declared the 1969 Shelby GT500 sold for $280,000. It went to car collector George Cowfer, of Phillipsburg, Pennsylvania, according to a report in the local newspaper, the Tribune-Review. Pre-auction estimates for the car were about $130,000.
The car had been purchased new by Larry Brown in 1969, for approximately $5,200. He died last September at the age of 76, and the car was discovered in a garage
To read the original article, which appeared on our website March 19, click HERE