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2009 1/2 Iacocca 45th Anniversary Edition Ford Mustang - Click above for high-res image gallery

It looks like the top-shelf, one-off 550-hp engine upgrade for that new Iacocca Mustang is worth about $362,000, at least to one buyer. The fifth of just 45 2009 1/2 Iacocca 45th Anniversary Edition Ford Mustangs to be made crossed the block on Saturday at the Barrett-Jackson auction in Las Vegas with a winning bid of $320,000. After fees, the car's final selling price was a whopping $352,000. That's well above the $89,950 MSRP of the other 44 limited-edition, coachbuilt specials. We just wrote about the Iacocca 'Stang and said that the car's exclusive dealer, Galpin Motors of California, would offer engine upgrades for an undisclosed premium. We seriously doubt that the actual surcharge will come anywhere close to the premium secured on the Barrett-Jackson car.

So what made this particular Iacocca attractive enough to bring such a lofty price? Well, for one, it had that upgraded, supercharged 550-horsepower engine. Another reason this one sold for a price nearly four times higher than the base model was that it was sold at auction, with the bidders getting whipped into a typical Barrett-Jackson feeding frenzy. Finally, it was in Las Vegas, a city where fiscal responsibility takes a backseat to, well, pretty much everything. While we love the custom composite coachwork on this special fastback Mustang, and acknowledge that this one is unique with its supercharged engine, that price just seems completely insane. The Iacocca topped many impressive other rides that were up for grabs; follow the jump to read more results. Apparently, everything that happens in Vegas doesn't always stay in Vegas.

Photos copyright ©2009 Drew Phillips/Weblogs, Inc.

To put the Iacocca Mustang's selling price in perspective, it surpassed all but an original 1965 Shelby Cobra 289 in this year's auction. The Cobra brought a healthy $440,000, but the Iacocca price was just plain shocking. While the Cobra smoked the Iacocca for top sales price, the tribute Mustang still bested several other notable lots, including a pair of other Shelby specials -- the 780-horsepower 1967 GT500 SE Super Snake continuation Mustang ($330,000) and an 800-horse 2007 GT500 Super Snake Prudhomme Edition ($302,500), 1 of 100 built.

Other top sellers included:
  • "Bo's General Lee," the 1969 Charger that John Schneider built for the Dukes of Hazzard reunion movie. That Charger was powered by 511 HEMI with 725hp and 610 ft/lbs of torque and sold for $258,500.
  • The second full-production 2005 Ford GT off the assembly line brought $253,000.
  • The 1967 Corvette Convertible owned by Bruce Willis sold for $165,000
  • Ol' Yaller VIII, a 1961 Jaguar built by Max Balchowsky brought $198,000
  • An original Buick GNX scored $132,000 on the bidometer
  • A genuine continuation 427 Cobra went for a song at $128,700
  • And a faithful recreation of the 1966 Batmobile based on a 1974 Lincoln and its 460 cubic-inch engine hammered out at $126,500.

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    • 1 Second Ago
      • 5 Years Ago
      If this is well kept it would be a classic many decades from now.
      • 5 Years Ago
      what happened to that Giugiaro Mustang
      I'll take that over this anyday

      • 5 Years Ago
      Nice to know that to some people money is not an object lol...
      • 5 Years Ago
      Jeebus. The list of cars I would buy for that neighborhood of money is longer than a NYC phone book.
      • 5 Years Ago
      All I can say is, IDIOT!! 352k for a mustang named after one of worst CEO's in America's history. That is truly amazing, in all the wrong ways.
      • 5 Years Ago
      you've got to be kidding me.

      That car has the wrong kind of horse badge for that kind of money. There are so many more cars out there that are built better.

      And I know this car is coach-built but they didn't exactly re-engineer the chassis, nor did they re-appoint the entire interior with new materials and switchgear.

      Even with an upgraded engine, what else on the car has been properly upgraded, as it certainly wasn't engineered for that level of performance in the first place.

      If I had that money, and were looking to buy a car at auction, or otherwise, it sure as hell wouldn't be any mustang that was originally designed for 1/10th that price point, or less. I'd have a hard time spending 1/5th of that on a Mustang, without finding something designed and built better for the money.

      I don't begrudge people their choices... if a guy wants to spend a third of a million on a custom 2009 Mustang... they are free to do that. Freedom means people are free to do what they think is best, even if I think it is utterly stupid to spend that much money on it.
      • 5 Years Ago
      Oh to have a quarter million dollars to be "whipped into a typical Barrett-Jackson feeding frenzy".
      • 5 Years Ago
      i watched the auction and there were a few cars that sold for less than they were worth.
      Juan Jaimes
      • 5 Years Ago
      I watched it being sold.
      A woman or her husband bought it for her :sigh:
      • 5 Years Ago
      • 5 Years Ago
      It would seem most posters simply do not understand how these things happen. The fact is that a person who has the money to do this just doesn't care what it costs. If you have millions of dollars, there just is no concern for the money spent. There is no value other than the fact that they may like to own it, so they simply get it. I have the same type of concern when I go to the dollar store. Whatever I want I throw into the cart. I load it up, knowing the final cost is going to be marginal in comarison to my income. So I spend twenty bucks on a bunch of junk, who cares? These people have the same attitude, because to them, this is pocket change.
      • 5 Years Ago
      so much for $90k being ridiculously high :oP
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