It's expected to fetch well over $1 million at auction.
Last year, an incredibly rare Ford Mustang Shelby GT350R prototype raced by Ken Miles became the most expensive Mustang to ever sell at auction after fetching $3.85 million. That was enough to beat the 1968 Ford Mustang GT390 driven by Steve McQueen, which held the previous record of $3.74 million. If you missed out on the prototype, one of the 34 production Shelby GT350R race cars built by Carroll Shelby will be sold at the upcoming Kissimmee 2021 Mecum auction this month.
Based on the Ford Mustang 2+2 Fastback, the car was transformed into a stripped-down, competition-spec R-Model by Shelby in 1965 featuring a modified 289 HiPo small-block V8 tuned to 325 horsepower.
Serial No. 5R106 has an illustrious racing history. Its first owner, a veteran Corvette racer and graduate of the Carroll Shelby School of High Performance Driving at Riverside, California, entered the GT350R at the B Production class at Road America in Elkhart Lake, Wisconsin, on September 4, 1965 for its debut race just 10 days after taking delivery.
It went on to compete in races Clermont, Indiana, Lynndale Farms, Wisconsin, and Wilmot Raceway. In the early 1970s, the car was placed into storage for several years to preserve its condition.
It then received a restoration from its second owner in 1987 before going on to win the Gold Award in the Competition Class at SAAC-18 at Watkins Glen in 1993. Subsequent owners have maintained the car in its original 1965 competition specification - it still has a scratch on the door handle after it scraped a wall during its debut race in Road America and retains the original plexiglass and R-Model magnesium racing wheels.
Despite its age, this GT350R has only clocked up 4,930 miles and is in immaculate, factory-correct condition. As a result, Mecum Auctions expects this rare competition car to fetch between $1,200,000 and $1,500,000 when it goes under the hammer this month.