1999 Shelby Series 1

2dr Convertible

8-cyl. 244cid/320hp FI

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$110,000*

equal0%
#4 Fair condition#4 Fair
Value Graph04/2407/2410/24$20k$40k$60k$80k$100kJan 2025
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1999-2002 Shelby Series 1 stats
Number produced **
249
Highest sale
$313,000
Lowest sale
$77,000
Most recent sale
$118,250
Sales
135
** Number produced is specific to this year and configuration.

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1999 Shelby Series 1 Convertible
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Model overview

Model description

Design work on the Shelby Series 1 began as early as 1994, and it ultimately became the only car designed completely from scratch by Carroll Shelby. While it didn’t quite turn into the successor to the original Shelby Cobra as planned, it did have some impressive performance credentials behind it by the time it launched, including an aluminum chassis and a top speed of 170 mph. Most people remember the car for what it wasn’t, unfortunately.

Original specifications called for a carbon fiber body, a rear-mounted Corvette C5 transaxle, a total weight of 2,650 lbs, and 500 horsepower, but the reality was somewhat more modest. The car’s weight increased to nearly 3,000 lbs as engineers adjusted to EPA mandates, and the installed engine ended up being the Oldsmobile Aurora’s V-8 motor, which offered 320 horespower and a 0 to 60 sprint in 4.4 seconds, instead of an Olds V-8 modified for the Indy Racing League.

From the time the model was announced, buyers lined up and plunked down deposits on a price that started at $85,000 in 1998 then successively rose to about $140,000. Production delays and the shift in the model’s performance proved to be too much for some early enthusiasts, though, and a number of buyers sued to get their deposits back.

The picture had brightened somewhat in about 2000, when a Vortec supercharged version was announced. Performance now approached the original claims, with 450 horsepower, 0 to 60 mph in 3.71 seconds, and a quarter mile in 12.4 seconds at 120.03 mph. However the base price had now risen to $174,975 and the supercharged model was $195,000.

By 2003 a new majority owner, Venture Corporation, was in control of Shelby American, and only 249 of the planned 500 Series 1s had been sold, about 80 of them supercharged. Venture went bankrupt in 2004 and Shelby bought the remaining stock, minus engines and transmissions, selling them as CSX5000 “component” cars. This maneuver eliminated the need for EPA and DOT certification since the buyer would complete the car himself, and CSX5000 cars sold for around $100,000.

Today the Shelby Series 1 elicits a mixed reaction—some enthusiasts recognize it as a true sports car with a Shelby pedigree while others bemoan what could have been. Setting aside the back story, however, the Series 1 can provide a lot of fun and exclusivity, and it seems to have run its course of depreciation. Lots of low-mile examples exist, but astute buyers will be more concerned with whether or not the car is equipped with a blower.

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Common Questions

The value of a 1999 Shelby Series 1 can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $110,000 for a 1999 Shelby Series 1 in good condition with average spec.

The highest selling price of a 1999 Shelby Series 1 at auction over the last three years was $240,750. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1999 Shelby Series 1 at auction over the last three years was $93,500. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 29 1999 Shelby Series 1s sold at public auction.

The most recent auction sale of a 1999 Shelby Series 1 was $118,250 on January 10, 2025 by Mecum Auctions.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are based on various data sources, as detailed in About Our Prices. The Hagerty Price Guide is for informational purposes only and is not intended as financial advice. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.com/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of The Hagerty Group LLC, ©2025 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.

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