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First 2020 Ford Mustang Shelby GT500 Went For High Price At Auction

The very first 2020 Mustang GT500 just sold at the Barrett-Jackson auction for $1.1 million.

The very first model of the most powerful factory Mustang ever was auctioned for $1.1 million as it goes for the famed muscle car’s biggest win ever – trying to help researchers cure children with type 1 diabetes. Craig Jackson, chairman and CEO of Barrett-Jackson, was the winning bidder.

The very first 2020 Ford Shelby Mustang GT500 just sold at auction for $1.1 million.

What would you pay for the privilege of being the first to own a piece of automotive history? The most powerful Mustang ever made just sold at the Barrett-Jackson auction in Scottsdale, Arizona for an astounding $1.1 million last Friday. The final bidder was none other than the CEO of Barrett-Jackson, Craig Jackson himself.

All proceeds of the sale will go to the Juvenile Diabetes Research Foundation, a leading organization researching juvenile diabetes in the hopes to someday find a cure.

“The chance to become the owner of the first 2020 Ford Shelby GT500 cars is an opportunity of a lifetime,” said Ford’s president of global operations Joe Hinrichs. “More importantly, being involved in helping to raise much-needed funds and awareness for JDRF is a big win for everyone.”

The $1.1 million sale price will be added to Ford’s annual $3.5 million contribution to the Juvenile Diabetes Research Foundation, bringing their lifetime donation to $70 million total.

Although the Mustang shown at the auction looks impressive in bright orange paint with red-painted calipers, the actual GT500 that Mr. Jackson purchased will be customized to his whims. We’re not sure what that will be, so maybe it’ll turn out to be orange-colored too.

RELATED: 1967 MUSTANG SHELBY GT500 SUPER SNAKE SELLS FOR BIG MONEY AT AUCTION

The most powerful Mustang ever will have a 5.2-L supercharged V8 with either 700 hp or more than 700 hp--Ford hasn’t been too clear on the exact number in their press releases. Neither have they been concrete on the performance figures, instead giving us a 3-second-ish 0-60 time and a sub-11-second quarter-mile time.

Along with that incredible engine comes the first 7-speed dual-clutch transmission to ever grace a Mustang, as well as a return of the GT350's proven MagneRide magnetic dampers and Brembo brakes.

The first 2019 Ford GT Heritage Edition with famed Gulf racing theme sold for $2.5 million just hours after the first 2020 Mustang Shelby GT500 was auctioned – Ford donating all $3.6 million in proceeds to long-time charity partners
via Ford

Not only did Ford sell the first 2020 GT500, but they also put up a 2019 Ford GT Heritage Edition which went for $2.5 million. That outsold Toyota’s new 2020 Supra VN 20201, which sold for $2.1 million. Proceeds of those sales went towards helping the United Way of Southeastern Michigan, as well as the American Heart Association and Bob Woodruff Foundation, respectively.

NEXT: CHEcK OUT THE 2020 FORD MUSTANG SHELBY GT500

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