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Final Shelby car nets a fortune

By Judy Martel · Bankrate.com
Wednesday, August 28, 2013
Posted: 6 am ET

Car-lovers jumped at the chance to bid for a piece of history before it even happened. The final 2014 Ford Shelby GT500 convertible, which hasn't yet been built, sold for $500,000 at the Barrett-Jackson Hot August Nights Auction in Reno, Nev.

Pictured above is the 2013 Mustang Cobra convertible. The final Shelby 2014 GT500 sold for $500,000 at auction before it has even been built.

Pictured above is the 2013 Mustang Cobra convertible. The final Shelby 2014 GT500 sold for $500,000 at auction before it has even been built.

In addition to gaining the keys to a 662-horsepower classic, winning bidder Don Damon of Great Bend, Kan., had the satisfaction of donating to the Brain Injury Association of America. All profits from the sale will go to the charity to fund research, treatment and education for traumatic brain injuries.

Parnelli Jones, retired race car owner, driver and winner of the 1963 Indianapolis 500, is involved in the charity because his son, Page, suffered a brain injury in 1994 in a Sprint car wreck. Jones attended the auction and will add his signature to the Shelby.

Since the car has not been built, Damon will be able to choose the exterior, interior and stripe colors. He is scheduled to receive the Shelby at the end of this year.

As the Shelby's whopping price tag suggests, car enthusiasts will pay big bucks for a one-of-a-kind model. At another of Barrett-Jackson's charity auctions earlier this year, the first production 2014 Chevrolet Corvette Stingray hardtop sold for just over $1 million. Sprint race car owner Rick Hendrick's purchase benefited the College for Creative Studies in Detroit.

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18 Comments
Tina Peterson
September 02, 2013 at 9:24 am

Sean - this car wasn't purchased and donated to the charity, Ford custom created it for the Brain Institute. The company I work for stages all the car displays for Ford and I know this for a fact - I was there from day one of the planning stage. Ford does lots of work with many different charities.

Remember they are the only big car company that is still family owned!

Celeste Shank
September 02, 2013 at 6:24 am

one word "SWEET".
It's wonderful when the profit goes to a worthwhile charity.
I would have thought the price would have been higher seeing's how this a huge piece of history.
Shelby and Ford once again does it right.
As the sign above our garage says "FORD COUNTRY"

Sean Donovan
September 02, 2013 at 3:29 am

Wow, I think that's pretty cool that some one with that kind of money to buy the car for themselves, instead purchased it to give to a charity that could raffle the car off and make even more than $500,000 dollars for their cause.

Tony Walker
September 02, 2013 at 1:45 am

does this mean there will be no more shelby's after 2014

David
August 29, 2013 at 4:07 pm

For tax purposes, only the amount above the actual value of the car is tax deductible for the person making the purchase.

chris
August 29, 2013 at 3:09 pm

Sweet car but sad at the same time..the car purchase it totally tax deductible due to the proceeds going to charity..

Michael Westin
August 29, 2013 at 1:59 pm

Ron, I can tell you exactly what your car is worth...whatever someone will pay for it. LOL

charlie
August 29, 2013 at 6:54 am

Is there a heaven for muscle cars?

Ron Taplin
August 29, 2013 at 5:19 am

I have a 2012 Shelby gt 500 Color is Grabber Blue Convertible. SVT. What is my car worth?

Linda Houde
August 28, 2013 at 11:14 pm

I saw a gorgeous Gold one on the way to work at the dealership in Portsmouth NH definitly a " Shelby" this one is unique and I would marry the man who bought this car LOL!! Not kidding! I love him and the gorgeous car!