First 2020 Ford Shelby Mustang GT500 sells for $1.1 million

The proceeds will go to charity.

The 2020 Toyota Supra isn't the only brand-new sports car that sold for a seven-digit sum over the weekend. Collectors also bid for the opportunity to own the very first 2020 Ford Shelby Mustang GT500.

Ford hasn't started building the 700-plus-horsepower GT500 yet; it displayed a pre-production model during the 48th annual Barrett-Jackson Collector Car Auction in Scottsdale, Arizona. The winning bidder was Craig Jackson, the CEO and chairman of Barrett-Jackson. He paid $1.1 million from the first build slot, and Ford will donate the proceeds from the sale to an organization named JDRF that funds research into type one diabetes.

Since production hasn't started yet, we don't know what the first Mustang GT500 will look like. Ford points out Jackson can choose any color and every option that Ford makes available on the GT500. He will be able to take delivery of the car in the fall, shortly before regular consumers are able to get their hands on one. Public pricing hasn't been announced yet.

Ford also gave wealthy enthusiasts seeking a four-wheeled tax write-off the opportunity to own the 2019 GT Heritage Edition with VIN number one. Painted in Gulf livery, the supercar sold for $2.5 million. Ford will donate the proceeds from that sale to United Way for Southeastern Michigan.  

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