Ford Mustang sells for world record R63.4m on auction

Shelby GT350 is the second classic Mustang this year to fetch more than $3m

22 July 2020 - 13:27 By Denis Droppa
The 1965 Ford Mustang Shelby GT350 “R-Model” prototype that fetched a record price.
The 1965 Ford Mustang Shelby GT350 “R-Model” prototype that fetched a record price.
Image: Mecum Auctions

A Ford Mustang has sold for a world record $3.85m (about R63.4m) at a US auction. The 1965 Ford Mustang Shelby GT350 “R-Model” prototype went under the hammer at the Mecum Auction in Indianapolis on July 17.

Helping to achieve the record price was the fact that the car was the first Mustang Shelby to win a race in its first race.

It was the second time this year that a Mustang has sold for more than $3m after the famous 1968 Ford Mustang GT that Steve McQueen drove in the movie Bullitt was sold by Mecum Auctions for $3.74m in Florida in the US in January.

During last week’s Indianapolis auction a number of other classic Fords achieved high prices, including a 1966 Shelby GT350 Convertible that went for $1,1m (R18.1m), a 1964 Shelby 289 Competition Cobra which took $990,000 (R16.3m), and a 1965 Shelby GT350 Paxton Prototype which fetched $880,000 (R14.4m).

The auction was quite Ford-dominated, but there were also Ferraris that fetched high prices. These included a 1965 Ferrari 275 GTS which sold for $1,43m (R23.5m), and a 1971 Ferrari 365 GTB/4 Daytona that went to a new owner for $715,000 (R11.7m).

Mecum reported that it was its most successful Indianapolis auction in 33 years, with 78% of the l,800 vehicles sold, showing a pent-up demand for high-value classic cars in spite of an economy-ravaging lockdown due to the Covid-19 pandemic.

An interesting piece of motoring memorabilia at the auction was the silk French Tricolour used as the starting flag at the 1967 Le Mans 24 Hour race, which sold for $36,580 (R602,000).