Here are the 5 most expensive Ford Mustangs ever sold

The ever-popular pony car is heating up like never before, and at the top of the price pile is this classic example

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The Ford Mustang has earned its place in history as one of the most powerful and attractive sports cars ever. It even spawned its own segment, the “pony” car, which proved so popular every other major American brand was forced into it and rushed to follow suit.

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When the Mustang first came out, it was marketed as a cheap sports car for the budding Baby Boomer generation. Released in 1964, when most Boomers were just 17 years old, the Mustang was the perfect car for today.

Now, nearly 60 years later, 17-year-olds who somehow couldn’t afford a 1964 Mustang – or did, but bought and resold it when – are most likely now making enough money to finally own it as a hobby car.

—Unless there’s one of those cars on this list, which is, because to buy the world’s most expensive Mustang, you need to do more than mow the lawn for the summer, or deliver the newspapers.

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Here are the five most expensive Mustangs ever sold.

1965 Shelby Mustang GT350R — US$3.5 million

The Mustang had only been on the streets for a year by the time Carroll Shelby and his team at Shelby American got it, turning the once hip cruiser into serious race-winning monsters like the GT350R.

The serial number R5002 is reportedly the first GT350R made, although there were several others made at the same time, so it’s hard to say. What’s not hard to say is that this was the first GT350R to win a race for Shelby, and it happened the first time out of the paddock, driven by Ken Miles.

The GT350R earned the nickname “The Flying Mustang” after being photographed during the famous first race. The car would continue to be driven by Chuck Cantwell, Jerry Titus, and Ed Leslie until the end of that summer. The R5002 would then return to racing in 1966, and continued to do so until 1967 under Ford Performance Division engineer Bill Clawson. The car recently sold at a Mecum auction for $3.5 million, making it the most expensive Mustang ever sold.

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1968 Ford Mustang GT390 “Bullitt” — US$3.4 million

Anything with the Steve McQueen name attached to it is worth the money. Hell, even mentioning his name in this article might get us a few ad clicks, but none of the “King of Cool” stuff can match the value of the car we most associate with it—the 1968 Highland Green Mustang GT390 he drives in the movie. Bullitt.

The vehicle was sold after filming was completed, and was driven every day until mechanical problems kept it out of action for decades and mysteriously hid it from the public eye. The vehicle was again in the spotlight in 2018 when Sean Kiernan, the owner’s son, contacted Ford and asked if they were interested in using it for the promotion of the new Mustang. They did, so they did, for about a year. The vehicle was later sold for an insane $3.4 million at auction. We’ll bet even McQueen himself wouldn’t have paid that kind of money to get his car back, but after all, it’s more than just a vehicle—it’s a piece of history.

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1967 Shelby GT500 Super Snake — US$1.3 Million

Once the GT350 has proven itself to be a tough race car and a certified road machine, it’s time to step it up. In a partnership between Shelby and Goodyear, the GT500 Super Snake is envisioned as a promotional vehicle to sell the new line of Goodyear tires.

Under the hood is an all-aluminum 427 V8, which makes 600 horsepower in the north – aka too much for the skinny Goodyear tires to handle, despite what the ads might claim.

While there were plans to build a small number of similar GT500 Super Snakes, the idea was eventually thwarted by nut counters, and perhaps pearl anglers as well. As such, there was only one GT500 built in 1967, which helped it land a selling price of US$1.3 million at auction in 2019.

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2020 Ford Shelby Mustang GT500 — US$1.1 million

The “GT500” nameplate left the market in 1970, right after Shelby essentially broke with the Ford brand, and thus, with the Mustang. However, in 2007, the GT500 name returned to the new “retro-styled” Mustang, now featuring a supercharged 5.4-liter V8 with 500 horsepower.

The 2020 GT500 marks a milestone for pony cars, as the monster now has 760 horsepower and a completely independent rear suspension, elevating it from a muscle car to almost supercar-like territory. The first instance of the vehicle was auctioned at the famous annual Scottsdale sale in Barrett-Jackson, and Craig Jackson himself raised $1.1 million to add the vehicle to his collection. All proceeds go to charity.

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1967 Shelby Mustang GT500 “Eleanor” — US$1 million

Jerry Bruckheimer owns 11 cars made for the film Lost in 60 Seconds 2000starring Nicolas Cage, but there has to be a hero car, and here it is—a 1967 Mustang GT500 called “Eleanor.”

“Dream Car” was used for exterior and interior shots, as well as chase scenes through the shipyard, the city, and along the Los Angeles River. There’s nothing fake about this Shelby-inspired 1967 Ford Mustang; every component in it works, even the NOS system.

An interesting tidbit about the paint scheme: it should initially be the opposite of how you see it, with a black body and a set of silver stripes. Apparently the painter messed up the order when they went to build the car — 11 times. Oops! Oh well, it’s still not a big mistake like this movie.

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The Foose-designed beast sold for $1 million at the Mecum Auction in Indianapolis, coincidentally the same amount as the original 1974 film budget.

1965 Shelby Mustang GT350R — US$984,500

Yes, another GT350R. If this was a list of the 10 most expensive Mustangs, you would see many more models. This 1965 GT350R (chassis number SFM-5R538) was raced by Charlie Kemp between 1968 and 1969, and had a 17-game winning streak with Pete Hood as the mechanic.

At Daytona in 1968, the GT350R had a top speed of 184 mph, prompting a thorough inspection of the vehicle to ensure there was no cheating. According to Hoon, the engine has bored over 0.030, and produces between 430 and 450 horsepower. So all the pace it puts out is impressive Carroll Shelby — oh, and winning lots of races.

The 5R538 sold at RM Sotheby’s auction in Monterey for US$984,500 in 2014.

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