1968 Shelby Mustang GT500KR Convertible for Sale With 17,000 Miles ShownAutoblogKyle EdwardThu, September 10, 2026 at 11:12 AM UTCAdd us on GoogleAutoblog and Yahoo may earn commission from links in this article.The 1968 Shelby GT500KR is the legendary "King of the Road," and the convertible sits near the very top of the first-generation Shelby hierarchy. This one is 1 of just 518 built, finished in classic Wimbledon White with the mighty 428 Cobra Jet. It sits on Bring a Trailer at $100,000 with seven days to go.1968 Shelby Mustang GT500KR ConvertibleBring a TrailerWhat it's worth right nowThe GT500KR convertible is one of the most coveted first-generation Shelbys, and values reflect that. According to Classic.com and auction data, restored KR convertibles generally trade from close to $130,000 into the $300,000s, with a high recorded sale of $495,000 and record auction results past $330,000 for the best-documented, most desirable examples.AdvertisementAdvertisementFair value for a restored, well-documented example like this sits close to $180,000 to $280,000, most likely close to $205,000 to $245,000, with the rarity, documentation, and long ownership supporting the figure and the notes below tempering it. At $100,000 with seven days remaining and a reserve, the bidding should climb into that range.1968 Shelby Mustang GT500KR ConvertibleBring a TrailerCondition and detailsThe car is a rare, well-documented, long-owned example. Finished in Wimbledon White over black Décor upholstery, it runs the 428 Cobra Jet V8, factory-rated at 335 horsepower and dyno-verified at 385, through a three-speed automatic to a Traction-Lok limited-slip differential, with the GT Equipment Group, a power top, a Shelby roll bar, a Tilt-Away column, and Shelby 10-spoke wheels. It has been with the current owner since 2003, underwent a comprehensive 2003-to-2010 refurbishment that rebuilt the engine, transmission, and rear axle and repainted the body, and comes with a Marti Report copy.1968 Shelby Mustang GT500KR ConvertibleBring a TrailerSeveral points deserve attention. The 428 was rebuilt in 2008 with .030-over pistons, and knowledgeable bidders have raised questions over the engine stamping, the block's March 1968 casting date relative to the car's build, and the visibility of the door and build tags in the photos, so verify the engine's originality and the tags carefully, since these heavily affect a KR's value.1968 Shelby Mustang GT500KR ConvertibleBring a TrailerThe restoration is now aging, so inspect the current condition. The five-digit odometer shows 17,000 miles with only close to 400 added in 23 years, so the reading predates the current ownership and should be treated as shown.1968 Shelby Mustang GT500KR ConvertibleBring a TrailerAdvertisementAdvertisementThe offerSpecificationDetailMakeShelbyModelMustang GT500KR ConvertibleYear1968Mileage17,000 miles shownEngine428-cubic-inch Cobra Jet V8Power335 hp and 440 lb.ft of torque, dyno-verified at 385 hpTransmission3-speed automaticDrive typeRear-wheel driveExterior colorWimbledon WhiteInterior colorBlackCurrent bid$100,000, with seven days leftInterested in this 1968 Shelby Mustang GT500KR Convertible? View the listing here.What makes the GT500KR uniqueThe GT500KR holds a special place in Shelby and muscle-car history, added midway through the 1968 model year when Ford made the new 428 Cobra Jet engine available. Carroll Shelby, hearing that Chevrolet might use the "King of the Road" name, moved quickly to claim it, and the result was the most powerful and desirable Shelby Mustang of the era. The Cobra Jet's heads and intake were derived from the Le Mans-winning 427 "Side Oiler," and while Ford conservatively rated it at 335 horsepower, it made considerably more in reality, giving the KR genuinely ferocious straight-line performance to match its aggressive, fiberglass-clad styling.1968 Shelby Mustang GT500KR ConvertibleBring a TrailerThat combination of iconic name, legendary engine, and dramatic styling is exactly what makes the GT500KR so coveted, and the convertible is rarer and more desirable still. With just 518 drop-tops built, reinforcing the chassis to handle the 428's torque without a fixed roof was a costly, limited-production undertaking, making the KR convertible rarer than most European sports cars of its era and a genuine blue-chip collectible today.My takeThis is a rare and iconic Shelby, and the fundamentals are compelling. A 1-of-518 King of the Road convertible with the mighty 428 Cobra Jet, in the classic Wimbledon White over black, backed by a Marti Report and 23 years of single ownership, is exactly the kind of blue-chip muscle car collectors chase. The comprehensive restoration and dyno-verified output add to the appeal.AdvertisementAdvertisementFair value sits close to $180,000 to $280,000, most likely close to $205,000 to $245,000, with the engine originality and restoration age the main factors to resolve. Before bidding, have a Shelby expert verify the engine stamping, the block date, and the door and build tags, since a KR's value hinges on originality, and inspect the aging restoration. Handle that, and this is a genuinely iconic, rare, and desirable piece of Shelby history.Disclaimer: This post is for informational purposes only. We are not a dealership or broker. All vehicle specifications, pricing, and availability are subject to change without notice. We are not responsible for typographical errors, omissions, or the accuracy of the provided information. Please verify all details directly with the seller.Autoblog aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.This story was originally published by Autoblog on Sep 10, 2026, where it first appeared in the Car Buying section. Add Autoblog as a Preferred Source by clicking here.