Ford has auctioned the first 2015 Mustang GT at the Barrett-Jackson Collector Car Auction in Scottsdale, Arizona.

Ford has auctioned the first 2015 Mustang GT at the Barrett-Jackson Collector Car Auction in Scottsdale, Arizona.

While the car was eclipsed by the first 2014 Chevrolet Camaro Z/28, which brought in $650,000, the Mustang GT went for a respectable $300,000. That's obviously a lot of dough but proceeds will benefit the Juvenile Diabetes Research Foundation which funds Type 1 diabetes research.

Since the car won't be built for several months, the winning bidder can order it with any interior, exterior and stripe combination they want. Regardless of what they choose, the model will be powered by a 5.0-liter V8 engine that produces more than 420 bhp (313 kW) and 390 lb-ft (528 Nm) of torque.

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