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1965 Ford Shelby Mustang GT350R sells for $3.85M, smashes records

It's not just any Shelby Mustang. This was Ken Miles' "Flying Mustang."

1965 Ford Shelby Mustang GT350R
Meet the world's newest most valuable Mustang.

The original Bullitt Mustang was a big deal when it surfaced and sold at auction for $3.74 million this past January to become the most most valuable Mustang ever sold at auction. That record didn't last long -- this 1965 Ford Shelby Mustang GT350 Competition, or GT350R, just sped past the dollar amount.

At Mecum's latest auction, held in Indianapolis this past weekend, this special Shelby sold for $3.85 million. The car has a big name attached to it that helped it command the big money: Ken Miles.

Miles raced this exact car at Green Valley Raceway in Smithfield, Texas 55 years ago at an SCCA event, and in the process, he demonstrated the GT350R's capabilities in its first ever sanctioned race event. As if the accolades aren't enough, the car also bears chassis number 5R002 -- the first GT350R Shelby built and the second vehicle the company built within the GT350 line.

There are plenty of other big names that slid behind the wheel of this exact car. Aside from Miles, Carroll Shelby himself drove the car, as did Bob Bondurant and Peter Brock, to name a couple.

Shelby's race-spec machine also includes a modified Ford V8 and an improved cooling system to help it dominate on track. The interior is, well, sort of nonexistent because Shelby gutted the car for race purposes. There's also a roll cage to meet SCCA regulations. Truly, it's a special car.

What the new owner plans to do with the car, we don't know, but there's no doubt they parked a piece of Mustang history in the garage.

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