Barrett-Jackson CEO Buys First 2020 Ford Mustang Shelby GT500 for $1.1 Million

Proceeds will go to Type 1 diabetes research

First 2020 Mustang Shelby GT500
The very first 2020 Ford Mustang Shelby GT500 went up for auction at Barrett-Jackson in Scottsdale.

The full hammer price went toward diabetes research.

Barrett-Jackson Scottsdale is in full swing once again, and it’s a time where tons of classic metal and millions of dollars will change hands. It’s a time where I salivate over timeless classics like a 1967 Chevy Corvette Custom convertible. This year, however, brings the very first 2020 Ford Mustang Shelby GT500 to the auction block. Craig Jackson, chairman and CEO of Barrett-Jackson, was the winning bidder.

To recap, the car debuted last week at the 2019 North American International Auto Show. Fresh off its appearance in Detroit, VIN number 001 hit the auction block. The new Shelby GT500 is Ford’s most powerful car to date, packing “over 700 horsepower”. While we don’t know precisely how much power it’s putting down, that’s still a hell of a lot. It’s a big jump over the 526 horsepower we saw from the GT350. The 2020 Ford Mustang Shelby GT500 comes with a supercharged 5.2-liter cross-plane crank V8, and is mated to a 7-speed dual-clutch transmission.

2020 Ford Mustang Shelby GT500
The first example of the new Shelby GT500 just went for $1.1 million. [Photo: Ford]

While we argue on whether or not the powertrain in the Mustang is a good thing, this one crossed the auction block. It’s selling price? An eye-watering $1.1┬ámillion. In other words, it sold for nearly four times what the first Mustang Bullitt sold for last year.

2020 Ford Mustang Shelby GT500

Of course, this car wasn’t any typical auction where the seller saw a huge payday. 100 percent of the proceeds from this Shelby GT500 went to charity. In this case, per Barrett-Jackson’s listing, the hammer price went to JDRF International. They conduct research and advocacy for those affected by Type 1 diabetes. A noble cause, to be sure, and the buyer forked over a heap of money to help that cause.

Saying you have the very first new Mustang Shelby GT500 doesn’t hurt, either. Stay tuned for more, as the first 2020 Toyota Supra is also up for auction tonight!