This weekend at Barrett-Jackson Scottsdale, Ford Motor Company auctioned off VIN 001 of the 2020 Ford Shelby GT500 with the final bid coming in at an incredible 1.1 million dollars! Barrett-Jackson CEO Craig Jackson was the winning bidder with all of the proceeds going to help the Juvenile Diabetes Research Foundation (JDRF).

“The chance to become the owner of the first 2020 Ford Shelby GT500 car is an opportunity of a lifetime,” said Joe Hinrichs, Ford president, global operations. “More importantly, being involved in helping to raise much-needed funds and awareness for JDRF is a big win for everyone.”

Arriving this fall, the 2020 Mustang Shelby GT500 will be the most powerful street-legal Ford ever, with a supercharged 5.2-liter V8 engine making more than 700 horsepower.

The event kicked off to an exciting start with the initial bidding starting at only $100,000 and quickly escalated to supercar-worthy numbers.

In less than a minute the bidding skyrocketed to above $500,000, and this was when the auction started getting fun. It was very heartwarming to watch as the children representing the JDRF Charity cheered and held up signs in support as the price increased. Craig Jackson was even positioned in the front row for the auction, and when the gavel was dropped, the 2020 Shelby GT500 was auctioned for the historic price tag.

Ford confirmed in a statement that the proceeds from this car would add to the more than 3.5 million dollars the company contributes to JDRF annually, for a total of $70 million donated during its long-time partnership.

So now that the first Shelby GT500 is sold, we are all anxiously awaiting the next announcement by Ford including official performance numbers and pricing later this year.