1965 Shelby Mustang GT350 Paxton Prototype

1965 Shelby Mustang GT350 Paxton Prototype
Sold for $572,000 Including Commission
RM Auction, Monterey, CA. 2014
Chassis no. SFM 5S425
443 bhp, 289 cu. in. supercharged V-8 engine, four-speed manual transmission, independent front suspension with unequal length A-arms, coil springs, and a stabilizer bar, live rear axle with semi-elliptic leaf springs, and hydraulic front disc and rear drum brakes. Wheelbase: 108 in.
•One of two 1965 Paxton-supercharged prototypes
•Factory-installed Shelby-Cragar mag wheels
•Highly original, including its original engine
•SAAC-documented ownership history
•Featured in numerous books and magazines
•Used as a factory demonstrator
When Ford executive Lee Iacocca asked Carroll Shelby, in Shelby’s words, to “turn a mule into a race horse,” a real race horse this Mustang would become! It was relatively straightforward, but spot-on modifications, upgrades, and component deletions made the 289 “Hi Po”-equipped Mustang 2+2 Fastback into Carroll’s own particular brand of “sports car.” Shelby American built just 562 of those rough and ready ’65s, which were universally considered the “best of the real Shelby Mustangs.” They were not only the first iteration, but they were also the most clear and committed example of Shelby’s original sporting vision for the car.
Most of the production 1965 Shelby GT350s are fundamentally the same. Some of the production cars were delivered with the rare and valuable Shelby-Cragar five-spoke mag wheels, while others had hubcapless steel wheels. Most of the cars wore stripes on the hood and rear deck, while all had manual transmissions and naturally aspired, 306-horsepower, 289-cubic inch V-8s, except for a few.
The story goes that Joseph Granatelli returned to Shelby American’s facility with a supercharged GT350, chassis 5010, and challenged Carroll Shelby himself to a drag race in order to demonstrate the car’s seriously enhanced performance potential. Shelby was to drive a much-lighter 289 Cobra, while Granatelli wheeled the newly muscled Mustang. The supercharged GT350 would dominate the Cobra off the line, not only leaving Shelby in the dust but also duly impressed. He would then place an order for several hundred of the upgrade kits for use on future GT350s (many of which were factory- and dealer-installed on subsequent 1966–1969 GT350s). Estimates vary, but it is often said that the blower package was good for a 45-percent power increase, punching the factory 306-horsepower rating up to just over 440 horses. The die was cast, and the supercharged Shelby GT350 was born.
Shelby chassis 5S425 is one of the two 1965 prototypes to be factory-equipped with a Paxton-supercharged V-8, which could crank out nearly 450 horsepower, making this Shelby GT350 one of the rarest 1965 Shelby Mustangs. According to the Shelby American Automobile Club (SAAC) Registry in which it is featured, the original base Mustang, underlying what would become 5S425, was delivered to Shelby American’s Los Angeles factory on June 4, 1965. Work to manufacture the car into a GT350 began about a week later, and it was completed by the end of that month. Upon fruition, this was a fully equipped GT350 that was finished in iconic Wimbledon White with Guardsman Blue stripes and was wearing the desirable Shelby-Cragar mag wheels.
The car was then consigned to the Paxton products division of the Studebaker Corporation. Then under the control and management of the legendary Granatelli family, Paxton was charged with the development of a high-performance supercharger package option for future runs of the GT350. The prototype equipment was installed on this car, which was one of two such installations to Shelby American’s specification in 1965 (an additional prototype kit was added to a 1966 example).
This Paxton-supercharged prototype was then used as a factory demonstrator before being shipped to Trudell Ford in Warren, Michigan. There, it was purchased by William Kardosh, also of Warren, on July 7, 1966. A year later, in September, it was purchased by Lee Swonder, of Dearborn, Michigan. Swonder decided to replace the original engine with a new 302 long-block powerplant sometime later in the 1970s. The original engine was sold off, although its ownership history has been closely documented by the register. While this Shelby icon was always enjoyed by Mr. Swonder, it was also well cared for during the nearly four decades under his watch. During that time, it was dealt only minor wear and tear, and it is believed that all of the body panels remain original to the car, save for some touch-ups to the lacquer paint.
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Robert Myrick Photography