The first 2020 Ford Mustang Shelby GT500 hit the auction block last night at Barrett-Jackson Collector Car Auction in Scottsdale where it went for $1.1 million. The proceeds from the auction went to all to help JDRF find a cure for children with type 1 diabetes.

“The chance to become the owner of the first 2020 Ford Shelby GT500 cars 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.”

The 2020 Ford Mustang Shelby GT500 debuted earlier this week at the Detroit Auto Show. It’s powered by a supercharged 5.2-liter V8 with over 700 horsepower, making it the quickest street-legal Mustang ever and the most powerful Ford ever produced. The 2020 Shelby GT500 can reach 60 mph in the mid three second range and the quarter mile in under 11 seconds.

Ford hasn’t announced the pricing, but the 2020 Mustang Shelby GT500 will arrive this fall.

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