Someone just paid silly money for this 1993 Ford Mustang SVT Cobra R .
The first 2020 Ford Mustang Shelby GT500 may have just sold at the Barrett-Jackson auction in Scottsdale, Arizona for $1.1 million, but it wasn't the only special Mustang that crossed the block. Another is this 1993 Mustang SVT Cobra R, and it just sold for $132,000, now the most expensive Fox Body Mustang ever sold at auction. And we're not surprised someone was willing to pay six figures for it. Only 107 examples were made and this one is number 11. Power comes from a 5.0-liter V8 with a total of 235 hp and mated to a six-speed manual transmission.
Another reason why it's so special: Ford only sold them to licensed racers. Number 11 has only 500 miles on its clock and has received several upgrades, among them a revised camshaft and GT40 cylinder heads from Ford Racing.
Considering its age, it's only had two previous owners: a Ford dealership in Connecticut and Jerry's Classic Mustangs in Alabama. It doesn't take a car expert to notice its incredible condition. One reason for this is the fact it's never been exposed to bad weather. Fox Body Mustangs were on the market for nearly 15 years, beginning in 1979. The '93 SVT Cobra R was the final sendoff.
The previous record auction sales high for a Fox Body Mustang, a 1990 convertible with only 16 miles, was $82,500, which also sold at Barrett-Jackson Scottsdale back in 2017. The car's low production run and status is likely what pushed this car's $100k+ final price.
For those who own rare Fox Body Mustangs such as a '93 Cobra R, take this auction price as a possible sign of things to come. Hold on to them for a while longer and continue to watch auction prices. Who knows? What may have not been worth all that much just a few years ago, could soon become a highly sought after classic Mustang.