With only 1,000 special edition GT500’s scheduled for this year, there is bound to be drastic markup. It is worth pointing out that the Ford GT’s MSRP was roughly $155k, and for the same price you can get a BMW M3, a Mustang GT500, and one hell of a vacation. If money means little to you and you’re seriously thinking about shelling out $155k for this Shelby GT500KR, you won’t find out a whole lot of information on the eBay page. Part of the reason for that is because Lone Star Ford hasn’t yet taken delivery of the 540 hp Mustang that’s up for auction. It also explains why the dealer has a photo of a standard GT500 sticker instead of that of the $80k KR.

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The Hertz Shelby GT-H hit the auction scene with a bang back in 2007, as the first black and gold drop-top sold at Barrett Jackson for a hefty $250k . In the past year, the powerful pony cars have had to endure some wear and tear from reckless renters, and what’s likely to be a much lower price of ownership. Between 75 and 100 Shelby GT-H Convertibles are scheduled to hit the block at Kruse’s 17th Annual Auburn Spring Motorfair from May 29 to June 1, 2008.

The special edition Mustangs will still likely cost a large premium over the average Mustang leaving rental duty, both because of its Shelby origins and limited production run of 500 vehicles. But in return you get a speedy convertible with truly unique looks. If you would like a Shelby GT-H Mustang, but have no plans or desire to head over to Indiana, you can even bid for the weekend racer of your dreams right from the Kruse website. Hit the jump to read the Auburn Spring Motorfair press release.

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 Carroll Shelby: racer, car builder, automotive legend, pilot, transplant recipient, entrepreneur, perhaps even rascal.

One thing is probably true, the plain-speaking Texan is a bit of all of these – and more. And despite a life-long series of illnesses, anyone of which would have crippled a weaker man, Carroll Hall Shelby, at 85, is still going strong. So it’s probably no surprise he’ll be receiving the latest in a long line of honors, today, as Automotive Executive of the Year.

The path from Leesburg, Texas hasn’t always been a straight line. Indeed, Shelby was born dirt poor, on January 11, 1923, with seemingly few opportunities. So it was probably no surprise to family and friends when he signed up for the then Army-Air Corps, during World War II, serving as flight instructor and test pilot. (Which kindled a lifelong love of flying, that continues today.)

Returning from the War, Shelby planned to settle down and do something that fit in, back in Leesburg. “I opened a chicken farm,” he recalls, with the Texas twang that’s never left him, “but my chickens all died.” Farming clearly wasn’t in his genes. But somehow, fast cars had gotten into his blood. And by the early 1950s, he was proving his mettle as a talented amateur. Turning pro, he landed “rides” with then-strong teams from Aston Martin, Maserati and Cad-Allard, unquestionably proving his skills with a 1959 win at Le Mans.

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The newest place to eat in Vegas isn’t anywhere close to the strip, unless you are talking about the drag strip at Las Vegas Motor Speedway. Shelby Automobiles will open its new Shelby Corner Cafe at its Las Vegas facility this weekend alongside the NHRA drag races. Mr. Shelby himself will be on hand for the opening, along with well known drag racers like Bob Tasca III, Don Prudhomme, and Robert Height. The 13,000 square foot restaurant, in addition to serving guests visiting the plant, will provide a place to eat for Shelby employees and will serve as an alternative source of grub to race spectators. Carroll’s famous chili is on the menu, of course, and the press release is after the jump.

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