Authentic racing pedigree took center stage at the Mecum Indy 2026 Spring Classic as a legendary 1965 Shelby GT350R Fastback achieved a staggering $2.75 million hammer price. The historic machine, carrying chassis serial number SFM5R106, crossed the block and emerged as the most expensive American automobile sold during the event. It also stood alone as the only Detroit-built vehicle to surpass the $2 million mark throughout the nine-day auction spectacle.
Pure Racing Pedigree
The $2.75 million Shelby is one of just 34 regular-production factory “R” models ever constructed by Carroll Shelby specifically for SCCA B-Production road racing competition. Unlike the standard street-oriented GT350, the GT350R was engineered with one mission in mind: dominating the racetrack. Extensive weight reduction, stripped-down interiors, and race-focused modifications transformed the car into a purpose-built competition machine.
Key Specifications and History
- Chassis Identification: Serial number SFM5R106, officially documented in the Shelby Registry
- Engine: Shelby-prepared 289-cubic-inch K-code V-8 producing 325 horsepower
- Transmission: Retains its highly desirable original T10 four-speed manual gearbox
- Competition History: Campaigned extensively across the Midwest racing circuit, with its competition debut occurring at Road America just 10 days after delivery to original owner Dick Jordan
Setting a New Benchmark
The sale established a new auction benchmark for regular-production 1965 Shelby GT350R models. Within the broader Shelby performance-car hierarchy, chassis R106 now ranks as the highest-valued production GT350R ever sold, trailing only the one-off 1965 factory prototype known as the “Flying Mustang” (chassis 5R002), which brought $3.85 million at auction in 2020.
The seller reportedly declined a $1.2 million offer in 2021, a decision that ultimately proved immensely rewarding. That patience translated into a remarkable $1.55 million increase in value when the gavel finally dropped at the Indiana State Fairgrounds.
Mecum’s Record-Breaking 2026 Event
The landmark GT350R sale played a major role in a record-setting year for Mecum Auctions. Fueled by rare muscle cars, historically significant race machines, and elite exotic collections, the Mecum Indy 2026 auction generated an astonishing $193 million in total sales — eclipsing the previous event record by nearly $70 million.
Source: Mecum Auctions
