First 2024 Ford Mustang GT Sells for $565,000 At Barrett-Jackson Scottsdale

The first GMC Hummer EV SUV also sold for half a million dollars

2024 Ford Mustang
(Images: Ford)

Half a million dollars is going toward this VIN 001 Mustang GT, and a good cause.

Whenever an automaker starts up a new production run, we typically see the first example head across the auction block, and the 2024 Ford Mustang is no exception. While there’s no official pricing on the cars hitting dealer lots soon, a GT model like the one shown here went for a cool $565,000.

Why so much? Well, like the $1.1 million Shelby GT500 that crossed the Barrett-Jackson auction block a few years ago, the money’s going to a good cause. Proceeds will be donated to the Juvenile Diabetes Research Foundation (JDRF), an organization that funds research to treat and treatments, prevention and a cure for type 1 diabetes.

Ultimately, Ford will allow the winning bidder to choose the configuration they’d like for their car. The 2024 Ford Mustang GT is available with 11 exterior colors, a host of wheel designs and even painted Brembo caliper options, as well as a range of options packages. At its core, the updated 5.0-liter engine in the new GT puts out up to 486 horsepower and 418 lb-ft of torque. Going for the V8 option still gets you access to a 6-speed manual transmission, while the 10-speed automatic is another route (or your only option, if you buy an EcoBoost Mustang).

If you’re still shopping the 2024 Ford Mustang, we’ll see cars in larger numbers this summer. Again, we don’t have exact price figures just yet, but expect those to emerge sometime in the next few months. Most likely, we’ll see the EcoBoost start somewhere over $30,000, while the V8-powered GT may stretch over $40,000 to start and beyond.

Other high-profile, high-dollar auctions at this year’s Barrett-Jackson Scottsdale

Of course, the new Mustang is far from the only high-profile entrant to this year’s Scottsdale auction. GMC Hummer EV SUV number one sold for $500,000 on its own. Like the Ford, proceeds from that sale are also going to charity (in the GMC’s case, Tread Lightly).

A one-off Nardo Gray Ferrari F40 went for a massive $2.75 million — the biggest draw of this year’s Barrett-Jackson Scottsdale auction.