When Ford unveiled the Mustang at the 1964 New York World’s Fair, Lee Iacocca’s name was written all over it. Forty-five years later, Ford made that reference more than figurative and built 45 Iacocca Silver Edition Mustangs. Only one of those Mustangs, Serial #32, was owned by the man himself. Now it could be yours.
Bonhams is offering Iacocca’s personal 2009 45th Anniversary Edition Mustang at its upcoming Scottsdale auction on January 16. Selling without reserve, the coach-built GT carries a presale estimate of $50,000–$70,000. With Iacocca’s name attached to it, don’t be surprised if it goes for more, however. Author Colin Comer believes it will.
“Think about it, without Iacocca there would be no Mustang, no Shelby Mustang, maybe no Shelby American around to build the GT40s that won at LeMans,” Comer says. “He’s a legend. And while these 45 custom Iacocca Edition Mustangs may be somewhat dated today and are certainly mild compared to even a new base Mustang GT, they’re more than that—they were built to honor the man. I’m excited to see what #32 sells for.”
The car not only has a direct connection to Iacocca, it has only 220 miles on the clock. Comparatively, #37 (706 miles) sold for $71,500 at Mecum’s 2019 Harrisburg auction five months ago, while #20 (334 miles) went for $64,900 at Barrett-Jackson’s 2018 Palm Beach auction, and #5 (1230 miles and with some additional modifications) sold for $82,500 at Barrett-Jackson’s 2016 Las Vegas sale.
The 45 limited-edition Mustangs came to fruition through a joint effort between Iacocca, designer Michael Leone, Gaffoglio Family Metalcrafters, and Galpin Ford in Los Angeles. Based on the 2009 GT, each car received handcrafted metalwork, with a new front fascia and a retro fastback look that replaced the rear coupe styling. Under the hood is an optional 400-horsepower, 4.6-liter supercharged V-8 engine mated to a five-speed manual transmission.
In addition to their handcrafted bodywork, Silver Edition Mustangs feature an Iacocca signature plaque with serial number, Iacocca badging, diamond-design black leather seats, sunken headlights, slanted grille, Ford Racing Handling Package, Ford Racing suspension, high-performance Brembo brakes, 20-inch chrome five-spoke wheels, and special gray paint called Iacocca Silver.
Originally priced for $89,950 at Galpin, the first example (#001) immediately sold at auction for $125,000 in 2009. According to Bonhams, Iacocca’s #32 has been retained by the Iacocca family since new.
Originally released on Father’s Day in 2009, Iacocca Silver Edition Mustangs are a fitting tribute to the father of the Mustang. In fact, his name is all over them. Literally.