Whenever someone mentions American cars, one of the few cars that come to mind is the Ford Mustang. The Mustang has been around for the past 56 years, making it Ford’s longest-running nameplate and it is the fifth bestselling Ford car.
This American legend is now in its sixth generation. Over the years, we have seen and heard of some iconic Mustang cars that left their mark in the books of history. Well, these icons don’t come cheap. Here are the ten most expensive Mustangs to ever be sold at auctions.
10 1965 Shelby Mustang GT350R - $3.5 million
The Mustang had only been in production for a year when Shelby got his hands on it and converted this hip pony car into a beast that dominated the track. This particular 1965 Shelby Mustang GT350R, chassis number R500R is rumored to be the very first GT350R. It is also believed to be the first GT350R to win a race with Ken Miles behind the wheel.
Nicknamed “The flying Mustang”, this car was driven by some of motorsport’s legends, Chuck Cantwell, Jerry Titus, and Ed Leslie until the end of summer 1965. This Mustang was sold at Mecum auction for $3.5 million making it the most expensive Mustang ever sold at an auction.
9 1968 Ford Mustang GT390 “Bullitt” - $3.4 million
This Mustang is a Hollywood superstar. This 1968 Ford Mustang GT390 starred in the 1968 Steve McQueen movie Bullitt. Appearing in the movie made the 1968 Ford Mustang GT390 the most famous Mustang in the world.
After its debut in the movie, the Bullitt car was sold to Road & Track magazine for $3,500 and was used as a daily driver by Sean Kiernan’s mother. Steve McQueen tried to buy it back but his efforts were futile. In the beginning of 2020, the Highland Green Bullitt was put up for auction and sold for a whopping $3.4 million.
8 1967 Shelby GT500 Super Snake - $1.3 Million
The 1967 Shelby GT500 aka the Super Snake was the American car to beat in the 1960s. This powerful Mustang is one in a long line of Mustangs that has a touch of the “Shelby magic”. The Shelby Super Snake Mustang was a one-off model.
This car’s power and rarity make it one of the most coveted Mustangs of all time. It is no wonder it fetched $1.3 million at an auction in 2019. Under the hood of the 1967 Shelby GT500 Super Snake lies a modified V8 that delivers 600 horsepower.
7 2020 Ford Shelby Mustang GT500 - $1.1 million
The 2020 Ford Shelby Mustang GT500 debuted at the 2019 North American International Auto Show in Detroit. This new age Mustang was the first production Mustang that bears a VIN that ends in 001.
Shortly after its debut, Ford decided to auction off this ride for charity. The 2020 Ford Shelby Mustang GT500 was auctioned off at the Barrett-Jackson annual auction in Scottsdale, Arizona. This Mustang fetched $1.1 million, a bid placed by Craig Jackson - Barrett-Jackson’s chairman, and CEO.
6 1967 Shelby Mustang GT500 “Eleanor” - $1 million
This is another Hollywood star. The 1967 Shelby Mustang GT500 or as it is known by its stage name, “Eleanor,” starred in the movie Gone In 60 Seconds alongside Nicholas Cage. It was designed and built by Chip Foose, based on the 1967 Mustang Fastback. Since its days in Hollywood, this 1967 Shelby Mustang GT500 has been replicated many times.
In 2013, Eleanor sold for $1 million at Mecum auction in Indianapolis. This 1967 Shelby Mustang GT500 held the record for most expensive Mustang sold at auction for a few days before being beaten by the Super Snake.
5 1965 Shelby GT350 R – $984,500
The 1965 Shelby Mustang GT350R is one of Shelby’s best works. This GT350R (chassis number SFM-5R538) is a track legend. This particular GT350R has several titles to its name, including 17 straight wins from 1968-1969 at the hands of Charlie Kemp with legendary Pete Hood as his mechanic.
In 1968, this Mustang clocked 184 mph in Daytona with Charlie Kemp behind the wheel. These numbers impressed everyone including Shelby. However, some were skeptical and the car was subsequently inspected, but the inspection showed that there was no cheating, the GT350R was just a better car with a better driver. In 2014, this legend sold at an auction in Monterey for $984,500.
4 1965 Shelby Mustang GT350R - $900,000
This Mustang was built to be the racecar version of the GT350. It was rumored that Shelby fit a V8 engine that was paired with a four-speed manual transmission that delivered 350 horsepower to the 2,500-lbs Mustang’s drivetrain.
The Mustang GT350R had some of the most impressive numbers of its time. This ride was clocked sprinting down a quarter-mile in 13.6 seconds at a top speed of 104.4 mph and accelerating from 0-60mph in 5.5 seconds. 34 units of the 1965 Shelby Mustang GT350R were built. This one sold for $900,000 in 2012 at the RM Sotheby’s auction in Monterey, with only 4,900 miles on the odometer.
3 1965 Shelby GT350R – $742,500
This 1965 Shelby GT350R also has its fair share of victories and accolades. This Mustang was the third GT350R to be raced and behind the wheel of this beast was Mexican legend, Pedro Rodriguez. Initially, Bill Steele was asked to drive, but he refused, citing that the car intimidated him.
Rodriguez went on to win the 1966 Sothern Polar Prix. After this victory, the car was bought by Freddy van Beuren, a Mexican driver, who painted it in Mexican racing livery to give a personalized touch. Freddy van Beuren went ahead to win the SCCA Southwest Division title in 1966. This ride was sold for $742,500 at an RM Sotheby’s auction in Monterey in 2016.
2 1969 Shelby GT500 Convertible – $742,500
With most Shelby Mustangs on this list being cars that won the hearts of many by their prowess on the track, this one is different. The 1969 Shelby GT500 Convertible was not a track champion but it might hold a far much better title – it was Carroll Shelby’s personal vehicle.
Shelby owned this beautiful Cobra Jet-powered creation for more than three decades. This model is a rare find, seeing as only 247 units of this Mustang were made, but this particular one brings in more money seeing that it was owned by the man himself. In 2008, the 1969 Shelby GT500 Convertible was sold for $742,500 at the Barrett Jackson auction in Scottsdale, Arizona.
1 2007 Shelby GT Fastback – $660,000
Car enthusiasts and collectors will tell you that the first model of a valued car is a treasure. People are willing to pay ridiculous amounts just to get their hands on a 001 serial number. This is exactly what happened with the 2007 Shelby GT Fastback. Proceeds from the $660,000 sale of this Mustang in 2007 went to benefit the Carroll Shelby's Children's Foundation.
The 2007 Shelby GT Fastback features a 4.6-liter V8 engine that had the Shelby touch. This engine pushed 500 horsepower and delivered 480 lb-ft of torque to the Mustang’s drivetrain.