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The first 2024 Ford Mustang sells for $565,000 at auction


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Ford's new seventh-generation Mustang will soon land on dealer lots across the nation, and the first example has already been spoken for. It sold for a whopping $565,000 at a Barrett-Jackson auction held in January 2023, and the sale's proceeds are going to a good cause.

Barrett-Jackson offered VIN 001 during a sale that took place in Scottsdale, Arizona, on January 28, 2023. Photos of it aren't available because it hasn't been built yet. All we know is that it's a GT model powered by a 5.0-liter V8 rated at up to 486 horsepower and 418 pound-feet of torque. The winning bidder will be able to choose whether the eight-cylinder is bolted to an automatic or a manual transmission.

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Ford is letting the winning configure the car. At launch, the Mustang will be offered with 11 exterior colors, several wheel designs ranging from 18 to 20 inches, and Brembo brake calipers painted in black, red or Grabber Blue. Numerous options packages are available as well.

The proceeds from the sale will be donated to a charity called Juvenile Diabetes Research Foundation (JDRF) that funds type 1 diabetes research, which explains why the first Mustang sold for a figure that's well over MSRP and well into supercar territory. Ford has a long history of selling the first example of a desirable new car at a charity auction; it also sold the first examples of the fifth- and sixth-generation Mustang via Barrett-Jackson. More recently, the first Mustang Shelby GT500 and the first GT Heritage Edition were auctioned off for charity.

For the rest of us, the 2024 Ford Mustang is scheduled to go on sale in the summer of 2023. Pricing hasn't been announced yet.

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