Not long after a rare Ford Mustang went for nearly $4 million at auction, 'the most important Mustang in the history of the marque' is up for sale

Tim Levin

Mar 19, 2020, 21:09 IST

Not long after a rare Ford Mustang went for nearly $4 million at auction, 'the most important Mustang in the history of the marque' is up for sale

A rare 1965 Shelby GT350R Mustang will be up for sale in May through Mecum Auctions, so long as the event stays on schedule amid the coronavirus pandemic.
The listing comes after a 1968 model driven by Steve McQueen in the movie "Bullitt" went for $3.74 million in January, becoming the most valuable Mustang in existence. Mecum believes this car could surpass that.
This 1965 Shelby GT350R won numerous races and was driven by legendary race-car driver Ken Miles, whose story was featured in last year's movie "Ford v. Ferrari." It was also used as a test mule by Shelby American engineers.
Mecum calls the car not only "the most historically important Shelby Mustang in the world," but also "arguably the most important Mustang in the history of the marque, period."
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In January, the 1968 Ford Mustang GT driven by Steve McQueen in the film "Bullitt" raked in a record-setting $3.74 million at auction. Now, a few months later, Mecum Auctions believes it has an offering that could surpass that.

The new listing, Mecum said, is "arguably the most important Mustang in the history of the marque."

The Mustang - a 1965 Shelby GT350R Mustang prototype - is an automotive icon, having been driven extensively by legendary race-car drivers such as Ken Miles, of "Ford v. Ferrari" fame. It's slated for Mecum's Indianapolis auction in May, if the event stays on schedule - Mecum postponed its March and April events according to Centers for Disease Control and Prevention gatherings guidelines amid the novel coronavirus, but hasn't said anything about May.

The Mustang was used as a team car and engineering test mule by Carroll Shelby's Shelby American, and was built to be a high-performance competition version of the 1965 Mustang. It claimed more than 10 Sports Car Club of America class victories in just the 1965 season, and went on to have several successful seasons after.

Solidifying its place in Ford history, the Mustang also spent 14 years in the Shelby American Museum, and has won awards at some of the most prestigious car shows.

Below, you can see more of the car that Mecum is calling the "most historically significant Shelby Mustang in the world."

Mecum Auctions announced that it's auctioning off a one-of-a-kind 1965 Shelby GT350R Mustang race car at its Indianapolis sale this May.

The super-rare car is dripping in automotive history, and could very well become the most expensive Mustang ever sold.

Mecum's president and founder, Dana Mecum, said on NBC Sports Network that if "there's ever a car that could surpass what the Bullitt car sold for, you're looking at it now." There are good reasons for that.

In the mid 1960s, Ford tapped racing-driver-turned-car-developer Carroll Shelby to build a high-performance Mustang for SCCA B-Class racing.

The Blue Oval shipped a trio of white 1965 Mustangs to Shelby's shop in Venice, California so he could get to work.

From those three cars, Shelby developed two racing prototypes and a street car, which was required to make the GT350R eligible to race.

Now the first of those prototypes — magnificently restored — is up for sale.

Known as "Flying Mustang," the car was the first Shelby Mustang to win a race …

… and logged more than 10 first-place finishes during the 1965 SCCA season.

It was driven extensively by race-car driver Ken Miles, of "Ford v. Ferrari" fame. Plus, Dana Mecum said, it was the only Mustang Miles ever drove.

According to the listing, other big names in racing — including Peter Brock, Bob Bondurant, Jerry Titus, and Chuck Cantwell — also drove the car.

In addition to clocking up numerous racing victories, this Shelby GT350R was used by engineers to test new designs and parts for Shelby's next competition car, and for the 34 customer versions built.

Mecum calls this R-Model prototype "arguably the most important Mustang in the history of the marque, period."

That's not just hype — a Shelby expert told Hagerty: "Of the important Mustangs that have come to auction, [this one] in my opinion is the most significant in terms of its contribution to automotive history."

The car gave the Mustang the high-performance reputation it has to this day, and kicked off a long line of sporty, track-focused pony cars.

After Ford retired the car, it changed hands a handful of times and won many more races under different owners.

It was displayed in the Shelby American Museum in Boulder, Colorado for 14 years, before being bought by its current owner.

The GT350R’s current owner had it meticulously restored.

It won Best in Class at Amelia Island in 2014, and again at the Pebble Beach Concours d'Elegance in 2015.

Back in 1966, Shelby American sold this GT350R prototype to a Ford engineer for $4,000. But it's expected to bring in much, much more than that at auction in May.

It may even exceed the $3.74 million that the Mustang driven by Steve McQueen in the film "Bullitt" raked in earlier this year.

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