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Million-Dollar Ponycars: Highest-Priced Mustangs Ever Sold

Vukasin Herbez January 11, 2020

11. 2007 Shelby GT500 – $600,000

The first Mustang to wear the Shelby name in almost 40 years was the 2007 model. Conceived by the SVT department and the same folks who created the Cobra R models, the 2007 Shelby GT500 was something else. It looked mean with its aggressive design and multiple upgrades. The GT500 sounded terrifying thanks to the new 5.4-liter supercharged V8 engine delivering 500 HP and 480 lb-ft of torque.

This was the first production Mustang that broke the magic 500-Horsepower barrier, making it the most powerful muscle car at the time. With racing stripes on the hood, roof and trunk, four exhaust pipes, and scary rumble from the massive V8, the 2007 Shelby GT 500 would make Carroll Shelby proud. Of course, the performance was terrific, with 0 to 60 mph taking only 4.5 seconds. If you wanted the same one Carroll Shelby owned, which they offered at the auction, you would have to pay an insane amount of $600,000.

10. 1969 Ford Mustang Boss 429: $605,000

Getting $605,000 for any car is a fantastic achievement, let alone for the Boss 429. Despite its rarity and mystic allure, the Boss 429 never commanded such a high amount. The previous record was $550,000 for the 1,000-mile Mustang featured second on this list, but this is significantly more money. So, what makes this red example more desirable and ultimately more expensive?

This is one of the first Mustangs they made by hand. It featured an 820-S NASCAR engine with special Ford C9AE-A heavy-duty half-inch bolt rods. It also had forged pistons and a steel crank, among many other factory options. Ford hoped that NASCAR would accept the Mustang, so the first examples were more specific.

They featured equipment and an engine with slightly more power and race-specific components. Besides all of that, the best known and respected names in the Mustang world restored this Boss 429. So, the price was high, yet justified by the providence of this car.

9. 2007 Shelby GT500: $648,000

In January of 2006, Ford presented the first new Shelby model in 38 years. It was the first car, so it came with serial number, 001. Ford offered it exclusively for sale at the Barrett-Jackson auction. This first of the modern Shelby cars was a sure winner. However, nobody expected the $648,000 final price before the hammer marked the end of the bidding.

As usual, all proceeds went to Carroll Shelby’s Children’s Foundation. You’re probably wondering what the connection is between auctioning rare vehicles and donating to charity. If you donate money to charity, you get a massive tax deduction. What is better for a car enthusiast than to bid on an ultimate example of their favorite cars while donating money for a good cause? They also receive a big deduction, so it was a win-win situation for everybody involved.

8. 2007 Shelby GT – $660,000

They positioned the 2007 Shelby GT a step below the mighty GT500. Much closer to a regular 2007 Mustang GT, the Shelby GT had the same 4.6-liter V8, but with 325 HP. It also came with a special appearance package, racing stripes and wheels. Ford designed it to resemble the classic 1965 to ’66 Shelby GT350.

Although it had an M.S.R.P. price of $36,000 in 2007, the first one sold for almost 20 times as much. To be precise, the 2007 Shelby GT with the VIN number 001 sold for $660,000 back in late 2006. That secured its place in history as one of the most expensive Mustangs they ever sold.

7. 1969 Shelby GT500 Convertible: $742,500

The final year for classic Shelby models was 1969 because it was after that when Carroll and Ford parted ways. They built the last Shelbys in 1969. Even though Ford offered Shelby Mustangs for 1970, those were leftover 1969 models with 1970 VIN numbers. They offered the car as a coupe or a convertible. Nowadays, pristine examples go for over $100,000.

So, why did this ’69 Shelby GT500 convertible sell for an astounding $742,500 in 2008?

The original owner of this specific convertible was none other than Carroll Shelby himself. He ordered the car in 1969 and used it for a few years. It was even featured in many period shots and ads. After a string of owners, it ended up as the subject of a five-year restoration process. This transformed it to better than new condition, which justifies the high price.

6. 1965 Shelby GT350R: S770,000

Produced for one year only in 1965 and sold to privateers and racing teams all over America and the world, the Shelby GT350R was a pure racing beast. Those cars were not street legal since they were purely for racing purposes, something they did exceptionally well. The R version had the same 289 V8 as the regular Shelby GT350, but it produced close to 400 HP with numerous racing modifications.

The car was light and well balanced, so it proved to be extremely fast, winning races in America, Europe and South America, as well. They built just 34 of them, so to own one today, you need a fortune. The least expensive of them sold for $770,000 a few years back.

5. 1965 Shelby GT350 R: $990,000

Shelby started building Mustangs in 1965 as fire-breathing machines, bringing Ford some much-needed recognition and performance credentials. But these cars were responsible for Ford’s racing success, too. Sadly, they only built 34 “R” models in 1965, selling them to privateers and racing teams all over America.

Those cars were not street legal because they were purely for racing purposes, something they did exceptionally well. The GT350R had numerous modifications, so it was lighter, faster and sharper than the regular GT350. Each example had numerous wins under its belt. In fact, every R model is a precious piece of Mustang and racing history.

Shelby GT350Rs rarely come up for sale, but when they do, they achieve astronomical prices. That was the case in 2012 when a highly-original GT350R sold for almost $1 million. This car had only 4,900 miles on the clock, and the original transmission and engine. All its essential parts were well-known among Mustang aficionados. They raced it extensively but eventually put it into storage. This helped preserve its original condition, which affected the price.

4. 1967 Shelby GT500 Eleanor Car: $1 Million

Would you pay a cool million for a Mustang? There were times when people would consider it impossible, but the most expensive cars have already exceeded that number. In May 2013, the famous car from the Gone in 60 Seconds remake sold for a million bucks, making history.

They released Gone in 60 Seconds in 2000. Despite an all-star cast, the only real star was the highly modified 1967 Shelby GT500 with the name “E” for Eleanor. Although they used several cars for the shooting, “E” was the “hero car” for close-ups and promotional purposes. After the movie, Eleanor soon became extremely popular.

Lots of companies produced and sold replicas with various drivetrains. Purists protested because they made several Eleanors using the real 1967 Fastback, which many considered blasphemy. Even though this car is almost 20 years old, its appeal is still strong. The lucky owner of the real Eleanor must have thought the same thing.

3. 1967 Shelby GT500 Super Snake: $2.2 Million

Back in 1967, Shelby was a busy man. He was producing Mustangs for Ford while managing racing teams, helping Ford win the Le Mans. Besides all that, he found the time to create several exciting prototypes based on production Shelby Mustangs. One of those cars was the legendary Super Snake.

They produced this GT500 as a rolling laboratory to showcase the Mustang platform, as well as for testing Goodyear’s Thunderbolt tire line. Goodyear was proud to announce their Thunderbolt tires could run at 170 mph, so Shelby built a car capable of that speed. Using a Le Mans-winning race engine, he modified the transmission and suspension, creating the Super Snake.

The Super Snake was the ultimate 170-mph Mustang. Today, 170 mph isn’t uncommon for a top speed. However, back in the late ’60s, most muscle cars struggled to reach 120 mph. The Super Snake debuted in 1967 and broke several production car records with Carroll Shelby himself behind the wheel.

The Super Snake was so successful, there were plans for production. But, when Shelby realized its price would be around $8,000, which was big money for 1967, he killed the project. Shelby knew nobody would buy such an expensive car at the time. Almost 50 years later, in 2019, the one and only Super Snake sold for a record-breaking $2.2 million.

2. Shelby EXP500 Green Hornet: $1.8 Million

When talking about the most expensive Mustangs, it is essential to mention the Green Hornet, even though they never actually sold it. Still, the car received the highest bid of $1.8 million, but that wasn’t enough to buy it. For those who don’t know, the Green Hornet is another experimental Mustang from Shelby’s heyday.

Although it wasn’t the only one, the Green Hornet had the most innovative features. It had a 390 V8 Ford equipped with fuel injection. They also gave it unique disc brakes on all four wheels and an independent rear suspension. With this layout, the Green Hornet was a capable car that handled and stopped better than any other sports car on the market.

Unfortunately, the cost of producing those features was too high. So, Ford and Shelby decided to go with more conventional technology. Ford crushed most other prototypes; however, the Green Hornet managed to survive in the hands of an ex-Ford employee. He restored the car, so it is in perfect condition in the hands of the man who saved it from the crusher.

1. 1968 Ford Mustang GT390 Bullitt: $3.4 Million

One of the biggest Mustang legends ever is the Bullitt movie car. In 1968, the legendary actor Steve McQueen starred in this detective flick, playing a detective who drove a mean-looking 1968 GT390 Fastback. They used two cars during the shooting, but they destroyed one of them. They used the other for close-ups and promotional shoots. McQueen, a racing enthusiast, drove and modified it, preserving it for the future.

They later sold the surviving GT309 car. After several owners, it finally settled on the East Coast of the U.S. For decades, only a few people knew of the car’s whereabouts and the owner refused to sell, even to McQueen himself when he tracked down the vehicle in the late ’70s. Then in 2018, Ford made headlines when it convicted the son of the owner to take the original 1968 GT390 Fastback out of hiding and show the car in public, next to the modern Bullitt Mustang.

Then, in the summer of 2019, the original vehicle once again made headlines when they announced it would be available in the January 2020 Mecum auction. The price of the most valuable Mustang in the world is a staggering $3.4 million dollars, making this rusty ’68 Fastback the record holder in the Mustang world.

These are 20 million-dollar ponycars. They are the highest-priced Mustangs Ford ever sold. Which one was your favorite? If you want one of these cars, you’d better start saving or hope you hit the lottery soon.

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