Autoblog and Yahoo may earn commission from links in this article.A 1968 Shelby Mustang GT500KR fastback, one of just 1,053 built and the model that introduced the 428 Cobra Jet to the Shelby lineup, this example is finished in Highland Green over black with a four-speed manual. It is offered on Bring a Trailer with bidding at $150,000 and five days remaining. The hook is a genuine, thoroughly documented King of the Road in a desirable color and drivetrain combination.1968 Shelby Mustang GT500KRBring a TrailerWhat it's worth right nowGenuine GT500KR fastbacks are blue-chip Shelbys, and the market reflects it. According to Classic.com, recorded sales for the model range from a low of $125,000 up to a high of $495,000 for an exceptional car, with well-documented, driver-to-good-condition fastbacks generally trading between roughly $150,000 and $200,000.AdvertisementAdvertisementThis car's own history is a useful anchor: it sold right here on Bring a Trailer for $201,000 in July 2022, near the peak of the muscle-car market. Values for cars like this have cooled somewhat since then, and this example is honestly presented as a driver rather than a fresh concours restoration, with a 1990 respray and documented early-1990s use at Northern California road courses. That combination places it in the mid-band rather than at the top.1968 Shelby Mustang GT500KRBring a TrailerAt $150,000, with five days remaining, bidding is climbing toward that level. Fair value realistically falls in the $155,000 to $195,000 range, most likely the $160,000s to $180,000s given the documentation supporting the older paint and track history, and a result below the 2022 figure would simply reflect the softer current market.Condition and detailsThe car is a genuine KR delivered new to McCollum Motors in Washington and documented with a Deluxe Marti report, build sheet, and the original dealer invoice, which is exactly the paperwork that matters on a Shelby. It wears Highland Green with the ventilated fiberglass ram-air hood, side and quarter scoops, rocker stripes, and integrated rear spoiler, over a black Décor interior with the folding Sport Deck rear seat. The R-code 428 Cobra Jet drives through a Toploader four-speed to a 9-inch rear with a limited-slip differential, and it has power steering, front disc brakes, and Koni shocks.1968 Shelby Mustang GT500KRBring a TrailerThe presentation's honesty is both a plus and a caveat. The seller notes the 1990 respray shows stone chips and scratches, and the clock is inoperable, while service items include an oil-pan gasket in 2022 and a clutch replacement in 2018. The car was genuinely driven and even tracked in period, which enthusiasts may appreciate, but this is reflected in its condition.1968 Shelby Mustang GT500KRBring a TrailerFor a car at this level, verification is the key step. A prospective buyer should confirm the drivetrain against the documentation and Shelby registry, review the extensive paperwork in person, and budget for cosmetic refreshing if a concours presentation is the goal. The five-digit odometer reading of 64,000 miles cannot be verified for a car this age, so it should be treated as indicated rather than confirmed.1968 Shelby Mustang GT500KRBring a TrailerAdvertisementAdvertisementThe offerSpecificationDetailMakeShelbyModelMustang GT500KR FastbackYear1968Mileage64,000 miles shown, not verifiedEngine428ci Cobra Jet V8Power335 hp and 440 lb.ft of torque (factory rating)TransmissionToploader 4-speed manualDrive typeRear wheel drive with a 9-inch limited-slip rearExterior colorHighland GreenInterior colorBlackCurrent bid$150,000, with five days leftInterested in this 1968 Shelby Mustang GT500KR? View the listing here.What makes the GT500KR uniqueThe GT500KR, with KR standing for King of the Road, arrived midway through the 1968 model year and represents a specific high point in Shelby Mustang history. Its significance is the engine: the KR introduced the 428 Cobra Jet to the Shelby line, a motor Ford famously underrated at 335 horsepower when the real figure was widely understood to be north of 400, delivering the kind of torque that defined the era's muscle cars.1968 Shelby Mustang GT500KRBring a TrailerIts place in the story is sealed by timing. Because the partnership between Ford and Shelby ended after 1968, the GT500KR was the last first-generation Shelby Mustang to carry the Cobra name, giving it a bookend significance among collectors. With just 1,053 fastbacks produced, genuine, documented examples like this one are the blue-chip end of the classic Mustang market, and the Highland Green over black color scheme is among the most evocative these came in.My takeThis is the real thing, and that matters more than almost anything else on a Shelby. A genuine, Marti-documented GT500KR fastback with the 428 Cobra Jet, a four-speed, and Highland Green paint is a blue-chip American muscle car, and the honest, driver-grade presentation here means it is a car you could actually enjoy rather than trailer to shows. Several commenters made exactly that point, and I agree with them.AdvertisementAdvertisementI would place fair value in the $155,000 to $195,000 range, so the current $150,000 bid should climb into that band over the remaining days, though the softer market since 2022 means the seller may not match the $201,000 the car brought then. My advice is to lean on the paperwork: verify the drivetrain against the documentation and registry, inspect the older respray in person, and decide whether you want a driver or a restoration candidate. Get comfortable there, and this is a genuine King of the Road at a sensible entry to the model.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.1968 Shelby Mustang GT500KRBring a Trailer1968 Shelby Mustang GT500KRBring a Trailer1968 Shelby Mustang GT500KRBring a Trailer1968 Shelby Mustang GT500KRBring a TrailerAdvertisementAdvertisement1968 Shelby Mustang GT500KRBring a TrailerThis story was originally published by Autoblog on Jul 24, 2026, where it first appeared in the Car Buying section. Add Autoblog as a Preferred Source by clicking here.
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