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"Little Red" 1967 Ford Mustang Shelby GT500 found after 50 years, could be worth millions

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A legendary Ford Mustang, which many thought was destroyed 50 years ago, was discovered in a Texas field. And it could be worth millions.

Carefully named Little Red, the 1967 model was an experimental car that Ford had lent to Carrol Shelby to use as a test bed for the development of power parts. Little Red and a later car, unofficially known as Green Hornet, were the only two Shelby GT 500 notchback coupes of their era, all of which had a grubby vinyl roof.

Shelby's crew tinkered with the cars and tried out different body parts. Engines and transmissions. Little Red was primarily equipped with a supercharged 428 V8 and 3-speed automatic transmission, while the Green Hornet was equipped with a prototype independent rear suspension that never went into production but stays on the car.


The auction for the Green Hornet reached $ 1.9 million at auction in 2013.


Little Red appeared at a Ford preview event in Los Angeles, where he inspired the development of the first California Special Mustang that matched his styling, if not his performance. Shelby eventually sent the cars back to Ford for an appointment with the Zermalmer, as was customary for prototype cars, but they both set it up.


Little Red appeared on several promotional events.

(Martin L. Schorr)

The Green Hornet appeared at a 1971 Ford Motor Show and was sold several times until it landed in the garage of Barrett Jackson auction house CEO Craig Jackson for about 15 years. Little Red just disappeared.

Half a century of failed attempts to find it seemed to confirm the prevailing opinion that it had been shattered. But like any good mystery, only the right key was missing to unlock it. Then Jackson got his hands on it.

Jackson and classic car specialist Jason Billups recently researched the Green Hornet and found an inventory sheet from Ford listing its chassis number along with some of the other cars. It dawned on Billups that anyone who had just reviewed records for Little Red used his Shelby serial number instead of the original Ford VIN they had now.


And just so it found. She was registered in Texas, where she joined her current owner in February – and the rest of her story unfolded.

Jackson told Fox News that Little Red, naturally aspirated, was sent to Courtesy Ford in Littleton, Colorado, where a wounded Vietnam veterinarian decided to treat himself as he bought the car he was buying Wanted, did not know, it was a bit more special than the other shelves in the parking lot. After driving it for several years, he later sold to a man who was living in Wyoming at the time.

The second owner later moved to Texas and had him stowed in a storage container where the thief entered a few parts of the car that was no longer ready to drive.

He then brought it to his cousin's house in Weatherford, Texas, and left it in his backyard among some other old cars where it sat when Jackson and his team arrived.


Along with Billups, he brought the famous Mustang expert Kevin Marti to authenticate the find. Marti confirmed last year that a Mustang grenade that had been sitting on a Mexican junkyard for years was one of the stunt cars used in Steve McQueen's "Bullitt" movie.

This was not in better shape. The engine and gearbox are out, the front fenders and bonnet are missing, and you would never look back if it were not for the Shelby badge on the badge.

The owner told Jackson that he had a hunch About 25 years ago, he was Little Red, but when he reached the people in Shelby, they gave him the Crusher Story. In the knowledge that it was the only true thing, Jackson said the owner sold it for a fair price and was happy to be a part of what was to come.

Jackson wants to bring it as close as possible to his ideal as possible. Of course, he is not really sure what that is because it has changed many times while Ford and Shelby have worked with it. So he launches a website to document the work and crowdsource information of everyone who has them.

"If your dad worked for Ford or Shelby, talk to them, or look in your closet and see if you have any old pictures of them, anything could help," he said.

One clue he already has is the presence of two fuel pumps that support the rumor that it was suddenly equipped with two compressors.

As for the rest, the work will probably be a yearlong project that Marti thinks will rewrite the Mustang story.

Jackson did not say what he wanted to do with it when it was done, but he auctioned Green Hornet in 2013, and the bids were up to $ 1.9 million, which was not enough to meet his reserve ,

Do not expect him to offer a discount for the couple.

Gary Gastelu is the editor of FoxNews.com.

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