1968 G.T. 500 KR - Royal Vroom in Metallic Maroon

What traits make a muscle car the most desirable of its kind? Is it the fact that it's a numbers-matching example? Or maybe it's a rare bird, possibly the only one built? What if it was designed and created by a motorsports legend?
Any one of these three traits would definitely add to a muscle car's collectability. But what if a certain muscle car had all of these attributes? Then throw in the good possibility of past celebrity ownership. You might just blow the top off the scale by which all classic muscle cars are judged.
Here we have an example of such a ride. To say it's rare would be an understatement, as this '68 Shelby G.T. 500 KR has been researched and documented as the only one of its kind. Known in production lingo as Shelby serial number 02446, it soon would become known to the world by the moniker Precious. Any '68 KR convertible is a rarity, as just 517 were built, but this is the only known example painted in Royal Maroon Metallic.
So, how does one find and acquire such a rare car? If you're Steve White of Sarasota, Florida, you just go on eBay. One night while surveying the abundance of muscular cars on the world's biggest auction site and collector car marketplace, Steve happened upon a truly rare find. His eyes lit up when across the cyber auction block came this scarce ride.

 

With a little more than 500 made for the ’68 model year, any Shelby G.T. 500 KR convertible is rare. But this one is rarer still, as it is reportedly the only one painted Royal Maroon Metallic.

Steve took immediate action, contacting the seller to let him know that he was seriously interested in possessing the rare Shelby. You see, Steve was big-time into Ford's pony car, having started a nice collection of rare and interesting Mustang products. In his stable are several attention-grabbing Shelby designs, including a beautiful '68 G.T. 500 KR fastback and an assortment of modern examples straight from Shelby Motorsports. There are 11 in all, and the collection is still growing.
After some negotiation, the maroon ride was on its way to a new home at Steve's lair. Steve had started his own shop, S/S Motorsports, to turn his burgeoning hobby into a full-time business. He proudly placed Precious alongside other interesting examples of the late '60s muscle movement, such cars as a perfect (and unrestored) '69 COPO Camaro, a '70 LS6 Chevelle, and his hardtop KR.
Not Thrilled
But Steve wasn't thrilled with his purchase. Upon inspection, he found the car in a state of disarray. The big-block showed low oil pressure and needed attention, so he had his own engine shop rebuild the motor to spec. After a tear-down and a professional rebuild, this Shelby now purrs like it should, the 428 Cobra Jet mill as healthy as the day it left the Ford assembly line.
The rare maroon skin had also seen better days. So Steve's painter took it down to metal and put a fresh coat of the metallic on the car. However, Steve was not happy with this repaint. A perfectionist, he had the car stripped again and painted to a standard that matched the car's pedigree.
What about the car's back story, the rumored celebrity owner? Word has it that Carroll Shelby's significant other at the time (or one of his ex-wives) was possibly the first owner of this ride. Though there is no documentation to prove this, several authorities in the Shelby world agree that this was his better half's personal steed for the first two years of its life. Shelby is believed to have received the Mustang on a Manufacturer's Statement of Origin (MSO) from Ford, thus there was no formal title.

 

 

The G.T. 500 KR was a midyear replacement for the standard G.T. 500, its last two letters standing for King of the Road. It was outfitted with the new 428ci Cobra Jet engine, which was (under)rated at 335 hp. The CJ in Steve White’s Shelby is hooked to a C6 automatic transmission.

After hearing this rumor, Steve contacted Shelby American and was told that the car did belong to a "Mrs. Shelby" back in 1968—despite the fact that ol' Shel was between wives at the time. We can't determine exactly who it was that drove the hot Shelby convertible, but reportedly she chose the Royal Maroon Metallic color because it matched her favorite nail polish.
So how did it happen that this rare KR made it to cyberspace? According to the Shelby American Registry, the car's paper trail starts in June 1968 with its shipment from Detroit to an unknown dealer—a bit of haziness that could help confirm the notion that Shelby first received the car with just an MSO. The first "official" owner was reportedly a Shelby engineer who bought the car in Sacramento, California. Eventually it was purchased by Bill King of Payson, Arizona. The King family kept the car in good condition, tucked away safely away for decades in their garage. The Arizona climate kept the Mustang from becoming a Rustang. The family named the convertible Precious, befitting such a beautiful example of American automobile artistry.
A few years back the King family contacted a well-known website that deals only with '68 Shelbys. The webmaster contacted Kevin Marti at the Marti Report and divulged the information on the fender tag so the Kings could get a good idea of what they actually owned.
Floored
Kevin was floored by what he decoded. The fender tag stated "Maroon MT" for the paint scheme. But there was more. This particular car also had some nifty add-ons listed on the build sheet. The saddle interior complemented the paint quite well. The factory air conditioning is just icing on the cake here, always a plus in a convertible. And not only was this car equipped with the rare AM/FM option, but also decoded was the super-rare "LP" code for factory door speaker installation. The convertible turned out to be a treasure trove of interesting Ford options. Not just a pretty paint code, this car was built to impress.
It also came with a white top and glass backlight, a desirable option on any convertible. The GT equipment group and visibility group packages are also on the ride, as are power steering, power front disc brakes, and a tilt wheel. Tinted glass, a tachometer, and a trip odometer round out some of the special equipment on this stacked Shelby.

The KR’s maroon paint is nicely set off by the Saddle-colored vinyl interior.

So from here, the family put Precious up for sale on eBay. That's when Steve made his appearance, adding his name to the list of owners.
It was just pure luck that Steve spotted it on the Web that night. It could have easily passed him by. Luckily for him, the cyber Gods were with him, and his desire to own some of the most beautiful and rare muscle cars on the planet paid off in spades. Royal Maroon spades, that is.
At a Glance
1968 G.T. 500 KR
Owned by: Steve White, Sarasota, FL
Restored by: Owner
Engine: 428ci/335hp Cobra Jet V-8
Transmission: C6 automatic
Rearend: 3.00 gears
Interior: Saddle vinyl bucket seats
Wheels: 15-inch Shelby aluminum 10-spoke
Tires: P225/60R15 BFGoodrich Radial T/A
Special parts: Royal Maroon Metallic paint, A/C, door speakers, AM/FM radio

 

Look closely and you can see that the foglights in the grille are made by Lucas. Early ’68 Shelbys had Marchal foglights, but Shelby switched to the Lucas lamps after getting complaints of the Marchals not working.

 

A mag-style wheel cover was standard equipment on ’68 Shelby Mustangs, with this 10-spoke aluminum wheel available as an option.