Extremely Rare 1967 Ford Mustang Shelby GT500 Prototype Turns up in Texas

An experimental Ford Shelby GT500 Prototype nicknamed “Little Red” was discovered in a North Texas field this past spring after spending at least two decades outdoors.

The owner obviously didn’t know he had a 1967 Shelby GT500 Experimental Coupe rusting away next to a bunch of mesquite trees on his property. What’s left of the neglected prototype was located and verified on March 3, 2018, according to Craig Jackson, the chairman and CEO of Barrett-Jackson who announced the find at a private event tonight at the Henry Ford Museum in Dearborn, Michigan. Aaron Shelby, grandson of Carroll Shelby and board member of Carroll Shelby International, and Henry Ford III were on hand to witness the historic reunion.

“Finding Little Red is the discovery of a lifetime,” said Jackson in a release. “This Shelby prototype has been one of the most sought-after and elusive vehicles in postwar history. Countless enthusiasts and experts have searched for Little Red since it went missing in the 1960s. Many believed it was destroyed when the car was no longer needed. I’m excited to announce that was not the case. We’ve found Little Red and we intend to meticulously restore this legendary car back to its original glory.”

Jackson and classic car restoration specialist Jason Billups led the team who discovered Little Red. The quest began during the restoration of the other legendary Shelby prototype coupe, named the Green Hornet. The pair were the only notchback coupes to ever wear the Shelby badge.

The two cars were built by Ford and Shelby to test out a number of ideas for a special model. They featured a restyled body, including the iconic horizontal taillights sourced from a Mercury Cougar, and even a Paxton supercharger for the big-block engine. Little Red, which was built first, is most famous as the model for the 1968 Ford Mustang California Special. Despite that provenance, the car was put into storage and lost for decades.

“Locating Little Red was tantamount to finding the proverbial needle in a haystack,” said Jason Billups in a release. “After our initial research we realized that, like others before us, we were using the wrong search criteria. Everyone looked for Little Red using the Shelby serial number, which would eventually lead to a dead end. We took a different approach and located the car’s original Ford VIN number, which wasn’t easily discoverable. That VIN led us to its original registration and eventually to its last owner.”

The team also verified its authenticity using cross-references, serial numbers, date codes, and other confidential documents. Shell and Pennzoil are also helping support the restoration that will be fully documented at www.ShelbyPrototypeCoupes.com and will include photos, personal accounts, and videos of the restoration. Stay tuned for more details to come in the months ahead.

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