Constructed in 2005, with the approval of Carroll Shelby himself, this car, number CSE-001C, was the original prototype of a proposed series of new GT500E Convertibles, marking the first Shelby Mustang convertibles offered to the public since 1970. It is an outstanding example of modern engineering mated to original performance, and it is an extremely impressive car that one should see for themselves.

While the Wimbledon White and Guardsman Blue car boasts styling similar to the famed GT500 of 1967, it is actually a completely modern muscle car, packing a 408-cubic inch aluminum-block fuel-injected V-8 and Tremec TKO 600 five-speed racing transmission (chosen to suit the convertible’s smaller floorboard) on a custom X-braced chassis, beefed up to handle high performance with special frame connectors and a functional roll bar. Exhaling through a special performance exhaust routed through the bodywork, the engine produces a whopping 525 brake horsepower, pushing the car to noisy good times atop 17-inch custom wheels. The DC & O fuel-injection system resembles a set of Webers with air stacks, giving the engine compartment a wonderful period-correct appearance.

The blue interior combines classic Shelby style with Carroll’s trademark promotional bravado—the late master’s signature is everywhere, from the seats to the Shelby Signature gauges, which include a 10,000 rpm tachometer and 160-mph speedometer, and, naturally, he personally signed the dashboard. Trick touches include the “Go Baby Go” shifter and a nitrous button. The Sony AM/FM/CD/MP3 stereo, with remote and rear speakers, is a concession to the comfort expected by modern audiences. A center-mounted fire extinguisher, labeled “Remove Before Flight,” and a racing fuel cell are concessions to modern safety.

Beautifully maintained by Mr. Davis’ staff while in his private collection, this unique “muscle rod” was the first of a planned seven GT500E Convertibles built, but it is the only one actually completed, and it is still essentially a new car. It presents as one would expect a new car should, with perfect paint, chrome, and interior, and the fit and finish of all panels are to showroom standards. Seldom shown in public, it fairly begs to once more make its debut, preferably snarling at one end of a quarter mile.