Watch Us Restore & Drive This 1967 Shelby GT-500 Mustang Barn Find - And Add Up Dollars Spent

you gotta wonder how many of these dream barn finds wind up in another barn like this 1967 gt500 shelby mustang for all we know the gathered found the car bob might have been more interested in dogs than shelby's completely out of the blue not expected at all parked 40 years what happened to this one did it get restored people want to know we're all curious first off we loaded the car up to drag back to des moines don't ask me from where on the way out i recall telling jeff man we're in the middle of iowa we're in the middle of nowhere that's not a bad feeling that's a good feeling surrounded by good old american farmland which bob was born all into to get to that shelby of course we're talking about yes bob folkstead who when he's not playing with his dogs he's named vino is either running his business creative works in des moines iowa or playing with one of the cars in his collection this one he races in the optima ultimate streetcar challenge that's obvious it's got the motor out of it for the blue boat oil pump at road america on the main straightaway no oil so he is into cars autocross road rally start speed stop challenge and then road course veno's the big one vino's 13 odin's about two more on this one a little later bob's pretty busy so you tell me will he take time to restore a car these little nozzles pick up the chips and it puts all the chips on the board why is it the busy people always seem to find time yes bob bought this car and he was gung-ho to get it restored he's going to go over the restoration costs i told him i wanted to spend about 10 grand a month and it was like 10 grand a week for a while i mean it's parts and labor and the price he paid for the car which he just paid the appraisal of one of the top shelby restorers in the country this man jeff yorkovic rna motorsports this is not a 150 dollar hey we're gonna write a letter and this is what your car's worth the two center main caps have got cross bolts there's a couple thousand dollars to have the appraisal done i don't know anybody who's restored more shelby mustangs than jeff so what was jeff's appraisal sixty-five thousand dollars and what was bob's offer sixty five thousand dollars carolyn who's the widow she had an appraiser come before jeff and look at the car they didn't move the car but i actually gave her a thousand dollars more than the other appraiser did the other appraisal was 64 000. we agreed on the price and it was a fair deal for everybody she's really happy with it okay so let's get into the restoration and what this whole thing costs that's not original i put screws in there to hold the emblem on so what do you do replace that emblem strip the paint start over and go after a show car hold your horses just a minute that lime green acrylic enamel is factory and starting to shine in the iowa sun as we spray away all that dust a little quarter panel rust would have a lot of people running for the paint stripper not bob folksted he's out to save this original paint so one of the first things when we got the shelby with help from his son preston so we took it to bob perkins not this bob perkins the mustang restorer this bob perkins at perks auto spa for a serious detailing to determine the plan for the restoration ahead and actually this was the first part of that epic restoration you know this this front header panel here was kind of beat up the paints flaked off it was broken in a few different places this one bob was just starting on the car trying to figure out what he was doing you see where he acted washed a little bit of the bumper to clean it up pulled the wipers off so we didn't actually hit it with the buffer bob's keeping that original paint so what about areas like this it's never going to match exactly i mean it's the car didn't match probably when it was new because the hood and the trunks weren't done at ford and the header panels and the tail panels so shelby just painted them and threw them on so i don't think they match very good when they were new and i i helped him i mean i went up there preston went up there we all worked on the car i mean bob's a car person he enjoyed helping with the restoration it wasn't like we just bought it and said hell here it is finish the car for you know i grew up in a body shop environment and farm in iowa my grandpa and my dad polish cars and stuff one thing you'll find when you get these old barn find cars or even old cars in general is you'll see a lot of little rust spots on them where it's either the painted cracked or there had been a chip or something over here well what it is it's just a micro speck of paint missing but over time that rust kind of expands over the rest of the paint don't try this at home i'm not recommending this at all but i have an acid formula that i was able to take a soft bristle brush so the acid kind of eats into the rust to stop it kind of just lightly rub on this with acid and it takes the rest of that over rust that goes around the outside and it kind of cleans that up a light acid solution that he's spraying on the rust to kind of neutralize the rust and then to clean the rust off the paint um and then as we keep going through this we'll continue to remove that rust before we get to the paint correction and then once we do that this will hardly be noticeable and that's the best thing i know to do without sanding it down having it repainted and keeping it original of course the hood is fiberglass so is the deck lid so no rust problems here but looks like that old chalky residue had blown in off the road less than 100 feet from the barn professionals like perkins use a clay bar to remove stains embedded in paint finishes on fiberglass or metal he's using an orbital buffer so it's not very aggressive we're not trying to take any paint we're just trying to clean the car how many owners would be demanding a repaint when look at the difference bob has already made some of the edges were beat up on the car you know as we found it but we didn't want you know for sure we want to polish like in these edges here you have to be really careful buffing them because the buffer pad's big and you'll hit that edge and burn the paint right off of it so we want to be careful we did not do that then we went back in and polished it and we put some wax type sealer over the top to keep the the rust from coming back so this car doesn't have like the a lot of guys take these patina cars and they clear coat them this car doesn't have that done to it so it's all natural so he's spraying the acid on and he's scrubbing it and you got to be careful with this acid because it's kind of aggressive so what he's doing is trying to get all that oxidation off and it's similar to like that mag wheel cleaner you know just a little bit but you can see it makes a huge difference it really shines doesn't it yeah did we do the rear bumper this way too we actually ended up replacing the rear bumper because it was bent now tell us what you did on the interior here so we basically unbolted the seats which i was dumbfounded when we pulled the plugs out from underneath the car and they just unbolted i mean they just it was like it was a brand new car thanks to that salesman in the 1960s pushing that 99 undercoating job that's like the sound editing material they put in the car it's kind of like tar paper yeah this is the original carpet did you re-dye that yes a little bit just to get rid of some of the sun fading then you had to find her shifter because that's not stock well that was what's in the car we put an original shifter in it and the wheel well you had the big deal you had the original wood wheel there yep that was lucky right yeah a car is pretty original there was some rust right in this area we pulled this back and we neutralized the rust and put some 415 on to stop it there's some mildew all over the headliner and the seeds just from sitting for moisture oh so we how do you get rid of that mildew bob's got some special recipe with some vinegar i bet those front buckets will look mint in the car this is your kind of before and after photo of just a bob perkins shop bob spent a good two or three weeks cleaning and clan that was two thousand dollars well spent on detailing and now it's time to move on to the restoration the brakes are still frozen the car won't roll february 22nd rna motorsports jeff pulls out a 65 gt350 that he's restoring to concurs took the car from perks auto spa we brought it to jeff's shop here jeff pulled the motor so it was pretty nasty it had some aftermarket headers on it and it did turn over but it was going to need a lot of love and it was leaking from everywhere you can see how rough the exhaust was some of them had rusted clear off next to the head jeff just took a sawzall and chopped that off they went hunting a 428 and came up with a stunning find but wait why not keep that 427 block it's higher performance it wasn't the right block it was a 68 427 side order which isn't as desirable as the 67. one of the guys called me i mean i only got i don't know how many phone calls over this car but a gentleman contacted me who changed the motor with his friend when they blew it up so they said they were street racing and they blew up the original 428 and threw a rod in it it's out of a car that jeffrey store that's in a museum that's a drag car that will never be put back stock and the guy had it sitting underneath his bench forever and jeff goes hey you want to sell that motor jeff didn't think he'd sell it and he sold it to us was so much i think by the time we got jeff and some cleanup stuff done on it's about 10 grand that's a big price for a 428 yeah but find one out of a shelby gt500 built the same week it's the right date codes it's the exact right block for the car he's going to blow some over spray over the intake because at ford they put like a box over the top of the engine and the intakes all had blue overspray all over them so this original steering box here just putting all the bearings inside of it so this is mike he's working on the hood hinges he's sandblasting the hinge spring right now bob would save an original part over buying a new one the purpose was to save originality not money they've replayed all that stuff in-house so we were able to get the corrosion off of it and then put that phosphate coating right back on it so here's your march 28 1967. the original alternator i think that's way better to rebuild the original one by expert and then go buy one from the parts store and try to replace it how does that make you feel when you see that date well i know that it's right for the car and i know that it's exactly what it's supposed to be for the car and how does he know the shelby paperwork tells him so okay what do we got these are like the production sheets so this is from six in 1967. a few months after the part was made so date code correct these were all lime green ones all these are the green cars they're building so that's my car right there 26 84. original 428 gone but the accessories and top end got saved on this 427 like that dual quad intake with the face of frankenstein those trick cobra valve covers and 428 heads even those dual quad holley carburetors came with this car new the cobra oval air cleaner on the car turned out to be a repro might have looked original but on the backside didn't have this shelby stamping can anybody tell us what this series of letters and numbers means everything on the top of this engine all this was taken apart accessories pulleys even the dual point distributor cleaned up replated just like factory the carburetors the original carburetors were on the car we did everything we could to keep the car stock so what did bob pay for this original cobra oval air cleaner i mean it was a lot i mean lots it was probably around two grand then mike had an original nos air filter element somehow that ended up on there i think that was three or four hundred bucks too here's the transmission which is the number matching exact transmission jeff has a transmission guy that's a guru on it that's a t10 top loader and they went through everything stem discern they were able to save all the original markings on the transmission we actually see the date codes the vin number and everything so we pulled the booster the master had all of them refurbished all the tie rod ends i actually worked with jeff rebuilding all this stuff this hole here is where they put in the factory or the aftermarket air conditioning we went ahead and then welded a piece in and then we spotted the paint in so it looks all original and pulled that dealer installed air no big restoration under the hood all this stuff is all factory i mean we didn't get crazy we didn't like sand blast it and paint it the trunks pulled loose this is the top of the gas tank left the stock trunk mat and underlayment the gas tank was trashed that's a hole in the gas tank right there needed to replace the bottom was rotted out it's a 9 inch 350 gear it's got the right tag it's the original one but there were some period traction bars which ties in with the exhaust and blowing the motor up and you know this was all done in the late 60s i think what saved the car is a lot if you look in here you can see the undercoating and that undercoating really safe you can see the zinc oxide primer underneath of it and those brakes you know they're rusted solid so we took the backing plates off this is after we bead blasted it rebuilt the original wheel cylinders had the original shoes so we pulled the whole pedal assembly out here's like where the shifter and the pedal assembly where all the bushings and stuff were beat out of it so those are replaced so the car drives like new they were saving the original paint but some of that had been touched up prior so we kind of made a rule that if it had been painted before me it was kind of okay to repaint it so the only thing we painted was this quarter the antenna hole on the other side the header panel and the two pieces at the rear of the car that would be the shelby fiberglass tail light panel and the metal ford lower panel which required some fiberglass work you might ask why do extensive fiberglass repairs reproduction parts would forever lose originality that reveals shelby production procedures this is hair splitting so why bother because that's what we do so we put the whole engine together and then we took that stuff off to put the motor plate on and then we had masking tape on top of the intake manifold so in case you drop the screw down you want to go down inside the motor okay [Music] clutch pork oh i can't get the bolt in because the fork's sticking out that's cool came off all right here we are unpacking exhaust from scott fuller restorations it's date code it's dead on factory it took us longer to unwrap it than it did to install it on the car it probably took 15 minutes to install it lemonade the fan shroud is like ridiculously expensive let me get some uh [Music] meatballs and sausage tonight [Applause] [Music] [Applause] [Applause] okay how about that bob as you look at this car how do you explain to people your reasoning behind not fully restoring it not fixing all the rust and so forth you even left those two rivets in that fender badge why i mean it's only original car one time i just can't justify my mind doing it to this car there's a dent here a couple gouges there's some surface rust down in here you know like this rust here we could have went in and cleaned that up but we didn't hear the corner see there's a chunk missing center caps old and faded but you can't put new ones on the car had a lot of kind of a mildewy mold so we took like a vinegar solution with just a little bit of bleach on it to kill the bacteria the roll bar we never took out it's still got a little bit of that moldy looking stuff on it we think it's dead original iowa inspection sticker this one's from uh january of 73. we didn't put new hood pins on it it had some some locks on it that were aftermarket so we got the right shelby emblem in the right place we painted this black just because it was kind of rusty i didn't want it to rust anymore so this is that panel we removed and kind of fixed but we we left some of these original imperfections these pinholes were original we got the car out of the barn this was black and broken in a few spots and there'd been some crash damage back in here so i think when they fixed that they just didn't do a very good job and here's another battle scar now do people look at this and say hey you need an emblem yeah yeah really have two schools in this car those who want an original one or those who think that it needs to be perfect and if you're gonna drive it and enjoy it i don't think you want it perfect perfect left iowa state on because this car came from a professor from iowa state and my son graduated from iowa state you know something's got caught in this door at one time there's a little crease here there's a little bit of rust there you got a couple screws that don't belong in this emblem i have an nos emblem for it but it's restrained this car is exercising restraint i don't want to change it you know these are the original stripes on the car so i don't want to monkey with those you know if we go fixing this then we're going to be into these stripes we'll be fixing that somebody's pried into it in here before with a screwdriver trying to break in it's that way when we got it a great story for show and tell at the car show [Music] there's a couple dents in the roof i think in the barn he must have laid some stuff on it it's a original lower glance the rubber bumpers exhaust is new the car would have been more rotten needed more metal work and it's taken a lot of restraint to not restore the car completely and this is kind of something i'll do on my own you know we've never had the trunk off the car those bolts are untouched so you know the only thing we painted on this car were things that have been painted or touched up previously that were in pretty bad disrepair so to mechanically restore it enjoy it and get it out in the public and have fun with it it's really what the car is about said he'd do a burnout for you if you want all right [Music] 428 police interceptor it's real whole gt500 is like driving a tractor kind of the bruce is over into the left you can lift this up is that a new dash pad nope i see a little yeah wow that's really nice so isn't it yeah [Music] what's most fun about driving this car takes you back in time i mean you think about this car was built at shelby america in 1967 while they were racing in the le mans i mean it's pretty epic this car was built in the airport there and most people won't get their shelbys out in everyday traffic right now a lot of people put them on trailers and i understand they're expensive but they're cars they need driven right come on i'm gonna come out how you doing an overview of the restoration this is the stack of invoices that were paid for the car we did the car rather quickly so it i mean it took some time um we dropped the car off in february and i picked it up in late june i paid him really quickly so the car could move fast and he was pretty happy with me and i was happy with him let's just say it's ten thousand dollars for the long block then you have the restoration the carburetors cleaning up all my original parts valve covers intake manifold rebuilding the carburetors exhaust manifolds that i didn't have spark plugs spark plug wires rebuilt the power steering pump alternator just everything that that goes on a motor um you know it's probably really close to twenty thousand dollars when you add everything up like that then the transmission you know that time you get the transmission you get a shifter you get everything working correctly on it clutch have the flywheel resurfaced have everything working right on that that's another probably four or five thousand dollars so you know just the engine and transmission alone over half the expense probably of parts then you have all the knickknacks specialty shelby stuff which is really rare so some of some of the original inos parts that jeff had and things that only a guy like him or some of the other shelby specialists have they're just they're scarce to find those parts and you need the right guy to find them and they're expensive it'd be pretty easy to add up to forty to fifty thousand dollars in parts and then twenty or plus thousand in labor plus you know the cleaning and picking it up and towing and other things that we did you know with our own equipment so minutes to work on these cars you need to have your piggy bank kind of saved up thus far 65 000 for the car another 76 thousand for the restoration detailing incidentals for 141 000 total this dog is a cross between a siberian husky and a pomeranian and odin's a pomsky he's probably the biggest palm ski there is he weighs about 40 some pounds

Channel: Jerry Heasley

Views: 3,960,933

Rating: 4.7364569 out of 5

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Id: NEVVfGudNfw

Length: 25min 4sec (1504 seconds)

Published: Mon Nov 23 2020