Hey, at least the proceeds went entirely to charity.
Only a week or so after its big debut in Detroit, the very first Ford Shelby GT350R has just been sold at the Barrett-Jackson auction for a cool $1 million. The car was donated by Ford and all proceeds from the sale are headed to the Juvenile Diabetes Research Foundation (JDRF). Remember, this GT350R has the VIN #0001, instantly making it a collector's car. The bidding war began the moment the car hit the auction block. Bids were coming in left and right, both on the floor and over the phone.
In the end, however, a phone bidder won the prize. Ford CEO Mark Fields was even on hand for the auction, hoping to further capitalize on the car's hype. The new owner remains anonymous. And get this, the Shelby GT350R was sold for more money than two other major auction items at the same venue: the first production Cadillac CTS-V and first production Corvette Z06 convertible, which sold for $170,000 and $800,000, respectively.