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First 2024 Mustang GT goes on the auction block to power diabetes research

Going once, going twice ...

Ford this week will auction the first build of the all-new, seven-generation, 486-horsepower 2024 Mustang GT — VIN 001 — at Barrett-Jackson for big bucks. Proceeds from the most muscular GT model in the pony car’s storied history will help power research by JDRF to treat, prevent and cure global type 1 diabetes.

“We’re proud to offer the all-new Mustang GT to support worthy causes like juvenile diabetes research,” said Mustang marketing chief Jim Owens ahead of the Mustang’s 7:30 p.m. Jan. 28 auction block in Scottsdale, Arizona. “The winning bidder will not only support a good cause but become the owner of the first Mustang GT.”

The first model of the last, sixth-gen Mustang, with a V-8 output of 420 horsepower, sold at Barrett-Jackson in 2014 for $300,000. Other VIN 001 models followed, including the 2016 Mustang Shelby GT350 (for $1 million) and 2020 Shelby GT500 ($1.1 million), which also benefited JDRF.

The most expensive Mustangs sold at auction were the first 1965 Shelby GT350 for $3.85 million and the green 1968 Mustang GT driven by Steve McQueen in the movie “Bullitt” for $3.7 million. Both sold in 2020 at the Mecum collector car auction in Kissimmee, Florida.

The new ’24 model hearkens back to those classics with its fastback coupe, eight-cylinder power, and muscular haunches, but it is in another league when it comes to technology. The new car features twin, digital screen displays, rendered 3D graphics and an electronic brake for drifting,

The 2024 model’s 486 horsepower blows away even the legendary, 1965 Shelby GT350 - raced by Ken Miles of “Ford v Ferrari” fame, thanks to a modern, dual-air intake and throttle body design.

The winning bidder will be able to build their GT from the ground up including the option of manual or automatic transmissions, 11 exterior colors, alloy wheels, Brembo brake calipers, and a  Performance Pack that adds goodies like an active exhaust and Recaro sport seats.

Henry Payne is auto critic for The Detroit News. Find him at or Twitter @HenryEPayne