January is always a special time on the auto auction circuit. The first month of the year brings with it one of the largest auctions of the whole year, the Barrett-Jackson event in Scottsdale, Arizona. It is at this event that many major OEM and aftermarket shops auction off the first car its kind, unique one-offs, and other awesome vehicles that grab headlines and empty bank accounts.

2012 will be no different, as we’ve already reported that both Ford and Galpin Auto Sports will be auctioning off special Mustangs for charity. The SPEED Network is going to be on hand too, only they won’t be auctioning a Mustang off, but rather, they will be giving it away. And it isn’t just any Mustang, but a one-of-one Ford Racing Champions Shelby GT500.

To enter to win this Mustang, contestants must play Hagerty’s fantasy bid game during the 40 hours of the auction. The fantasy bid game allows contestants to enter their best guess for what a car will sell for when the hammer falls. SPEED has offered prizes for good guesses before, but never anything like this Shelby GT500.

Built with input from people like NASCAR drivers Trevor Bayne and Ricky Stenhouse Jr., both of whom signed a plaque inside the car. The Shelby is equipped with a Ford Racing supercharger boosting power to 750 ponies, a C&R cooling system, aluminum driveshaft, and an upgraded suspension package, and lots more, just because.

Entering the contest is as easy as placing a fantasy bid; for every bid you make on the fantasy bid website, you’re entered to win. Couldn’t be easier, though you’ll be competing with about 700,000 other bidders…hopefully you’re the lucky type. Because if you are, you could be driving this 750 horsepower Shelby home.