As is usually the case at Barrett-Jackson auctions, this year’s Scottsdale sale is teeming with Mustangs. Perhaps the most notable of all, though, is this foxy red 1993 Ford Mustang SVT Cobra R coupe, which sold for $132,000, making it the most expensive Fox-body Mustang ever sold at auction.
The Cobra R in question was the 11th of just 107 units made and features a 5.0-liter V-8 engine paired to a five-speed manual transmission. The Cobra R variants were tuned to produce 235 horsepower, and were only offered to licensed racers. This one features various upgrades, including a revised camshaft and GT40 cylinder heads from Ford Racing. The Mustang logged just over 500 miles on the odometer over the past quarter century and has had just two previous owners: a Ford dealer in Connecticut and Jerry’s Classic Mustangs in Alabama. The car has never been dealer-prepped, the listing says, and it has never seen water.
The final year of the Fox-body Mustang generation was 1993, and it had served as Ford’s performance flagship since 1979. To underscore just how well this Mustang performed at auction, the prior Fox-body auction record-holder went for $82,500, and coincidentally it sold at Barrett-Jackson Scottsdale in 2017. That car was a 1990 convertible with 16 original miles on the clock. This Cobra R’s rarity and condition—especially considering most other examples were probably raced—can be said to have pushed it above the $100,000 threshold, but maybe the Fox-body’s time has come. If you have a low-mileage 5.0 or SVO, you should probably keep hanging on to it just in case.