Rare muscle cars stolen in Melbourne

Police are searching for a rare and expensive American muscle car stolen in Melbourne's south east.

Just days after they arrived from America, two Shelby Mustangs were stolen from a storage centre late last Friday night.

One of them, an 2007 Ford GT500 coupe, has since been found undamaged at a Dandenong home.

But a blue 2008 Ford GT500 coupe, worth an estimated $100,000, is still missing.

Senior Constable Sally Spalding says two men, aged in their 40s and 50s, have been charged with handling the stolen car that was found by police.

But the men will not tell police where the second vehicle is.

Police have found the keys for both cars and hope the missing vehicle is still also in the Dandenong area, the constable said.

Mechanic Craig, who did not give his surname, was waiting for the cars to be cleared by customs so he could start converting them for Australian conditions.

He said the missing car was one of only 188 of the same colour across the world.

"I'm still a bit devastated to have to call the owners to tell them they were gone," he told reporters on Thursday.

"It's a very precious car, really."

Police have released a photo of the car.