“Little Red” ’67 Shelby GT500 Ford Mustang Has Been Found After 50 Years. Could Be Worth Millions!

I’ll be the first to admit that a slideshow video backed by a repeating group of four repeating photos and narrated by an unnerving digitized voice isn’t exactly the most thrilling way to reveal this news to the automotive community, but it’s what we had to work with on such short notice.

Barrett-Jackson CEO and avid automobile collector Craig Jackson has added yet another historical car to his fold, this one perhaps the most valuable of any Ford Mustang on the planet. Jackson, who already owns the fabled “Green Hornet” Mustang used by Carroll Shelby to cement help him and his team develop performance parts for first gen Mustangs all the way back in the mid to late 1960’s, found the car almost by pure luck.

He and fellow automotive historian Jason Billups were researching the recently made-over Green Hornet when they came across some documentation that listed some of the other cars used by Ford for developmental purposes. As most of us know, developmental cars are typically crushed and discarded after their run, but somehow the Green Hornet and this car, known as Little Red, managed to evade the crusher and find their way back into the hands of the general public.

After realizing that others who had sought to find Little Red were using the Shelby-issued VIN instead of the VIN issued originally by Ford, Jackson and Billups began tracking the car using the Ford VIN and were able to sniff it out, finding the car sitting in a field in Texas. While the car is in deplorable condition, the fact that most of the body and chassis are intact means it can be restored and we know Jackson and his team have the time, money and resources to do so correctly.

Will Little Red end up being more valuable than the Green Hornet? Only time – and a trip across the Barrett-Jackson stage – will tell, but it certainly has the potential to break all kinds of records when it comes to dollar value in the Mustang world.