Shelbys at Monterey Car Week 2025
Monterey Car Week 2025, like its predecessors, promises to be an awe-inspiring celebration of Carroll Shelby’s legacy. A dazzling array of his most renowned creations will be auctioned off, captivating collectors and enthusiasts from around the world. The air will be filled with anticipation as rare and highly sought-after automotive history pieces take center stage. Among the most anticipated vehicles are a historic 1962 Shelby Cobra prototype and a stunning 1965 Shelby GT350, all embodying the brand’s racing heritage.
CSX 2003 will be a major highlight of Monterey Car Week 2025 for Shelby collectors and fans alike. We spoke with Donnie Gould from Broad Arrow Auctions about this car previously, but we’d be remiss if we didn’t remind everyone that this is one of the Ed Hugus-built Cobras and without his involvement in the development of the Shelby Cobra, it’s quite possible the entire program never would have gotten off the ground.
This car in particular holds special significance to the Shelby legend as it’s the very car that demonstrated the potential of the Cobra to Ford and in fact directly lead to Carroll Shelby and Ford officially getting into business with each other.
Broad Arrow Auctions expects this to sell for $1,500,000 – $2,000,000, but it’s a one-of-one car and is still equipped with the experimental 260 cubic inch V8 – the very same one that powered CSX 2003 when it was driven by Henry Ford II – so we won’t be completely shocked if it exceeds their expectations.
Estimate: $1,500,000 – $2,000,000
After the success of the Shelby Cobra, Ford’s Lee Iacocca approached Shelby with a new challenge: to create a high-performance version of the newly launched Ford Mustang that could dominate on the racetrack. Shelby took the already popular pony car and transformed it into a genuine race-ready machine. He stripped out unnecessary weight, stiffened the suspension, and added a host of performance-oriented upgrades. The heart of the GT350 was a modified version of Ford’s 289 cubic inch V8 engine, producing a formidable 306 horsepower.
The GT350 was a homologation special built to compete in SCCA racing. Every 1965 GT350 was a fastback model, painted Wimbledon White with Guardsman Blue racing stripes as an option. These cars were hand-built at Shelby American’s facility in Venice, California, and later at a larger plant near Los Angeles International Airport. The result was a car that was not only incredibly fast but also a formidable competitor on the track.
The example being offered by RM Sotheby’s during Monterey Car Week 2025 benefits from a restoration completed by Jim Cowles’ Shelby Parts and Restoration and is a documented matching-numbers car.
Estimate: $500,000 – $600,000
The 1969 Shelby GT350 Fastback, a significant departure from its predecessors, marked the final year of Carroll Shelby’s direct involvement with the Mustang project. Ford had taken greater control over the design and production of the Shelby Mustangs. The 1969 model year saw a complete restyling, with an elongated fiberglass front end, a new full-width grille with integrated headlights, and a redesigned hood with three functional NACA ducts.
Under the hood, the 351 cubic inch Windsor V8 engine produced 290 horsepower, offering a different performance feel than the earlier, higher-revving small blocks. The car is equipped with some unique features like a rear spoiler, a rear end with integrated Thunderbird taillights, and functional side scoops. The 1969 GT350 was a more refined and “Grand Touring” oriented car, reflecting a shift in market tastes and Ford’s desire to broaden the Mustang’s appeal. Despite Shelby’s formal agreement ending in 1969, some unsold models were re-badged and sold as 1970 model year cars.
Mecum Auctions will offer this ’69 Shelby GT350 Fastback at their upcoming auction during Monterey Car Week 2025. It includes a Marti Report and is equipped with power steering and power front disc brakes, not to mention factory air conditioning. One of just 129 finished in Pastel Gray, this example will be offered with no reserve from the Schroeder Family Collection on Saturday.
Estimate: $90,000 – $110,000
The 1966 Shelby GT350H, often affectionately called the “Rent-a-Racer,” holds a unique and legendary place in automotive history. This special model emerged from an innovative marketing collaboration between Carroll Shelby and the Hertz Corporation. The concept was to create a fleet of high-performance Mustangs that Hertz could offer to members of its newly formed Sports Car Club. This program offered enthusiasts the chance to drive a genuine Shelby for a weekend getaway. It was a mutually beneficial arrangement: it provided Shelby American with a guaranteed buyer for a substantial number of cars, while simultaneously exposing the GT350H to immense public attention and a reputation that few other vehicles could match. A total of 1,000 GT350H models were manufactured for this program, making them an integral part of the 1966 GT350 production.
While the majority of the GT350H cars were painted in the iconic black with gold “Le Mans” stripes, a select few were also produced in other colors, including Wimbledon White, Candy Apple Red, and Ivy Green. Mechanically, they were essentially identical to the standard 1966 GT350, featuring the same 289 cubic inch K-code V8 engine that produced 306 horsepower. However, a notable distinction lay in their transmission. While a limited number of the initial cars were equipped with a four-speed manual transmission, the majority of the GT350H fleet was fitted with a three-speed automatic transmission, making them more accessible to a broader range of rental customers. After their service with Hertz, the cars were returned to Ford and subsequently sold to the public.
Mecum will offer this GT350H with no reserve at their upcoming Monterey Auction from the Hertz Collection. It presents will, benefiting from a thorough restoration completed in the 1990s and a more recent cosmetic refresh. Its original engine was replaced under warranty so while it’s not the one that was under the hood when it left the factory, it’s as close to original as possible.
Estimate: $125,000 – $150,000
Commentating the 50th anniversary of Carroll Shelby’s FIA-spec Cobra that competed in the FIA World Manufacturers Championship, these continuation cars were built to replicate the design of the original FIA-spec Cobras. Of course, some improvements were introduced including a stronger chassis and disc brakes to allow for a more enjoyable experience behind the wheel.
These were all sold as a rolling chassis, permitting the owners to install whatever drivetrain they desired. The example that will be offered by Gooding Christie’s at their Pebble Beach Auctions is powered by a 364 cubic inch V8 that produces an impressive 453 horsepower and is paired with a Tremec five-speed manual transmission.
This will be offered with no reserve and represents an excellent opportunity for a newer collector to enjoy the experience of an FIA-spec Cobra without the immense cost associated with an original production example.
Estimate: $200,000 – $300,000