A 2016 Ford Mustang Shelby GT350 driven and signed by former President George W. Bush was part of the Gooding & Company auction held during last month’s Pebble Beach Concours d’Elegance, and the Ford Motor Company [NYSE:F] has confirmed that the final selling price of the car was a staggering $700,000.

Jay Leno was on hand to help get the bids up, as the sale of the special Mustang was for a worthy cause. All proceeds went to the Bush Institute’s Military Service Initiative, which helps support post-9/11 veterans, service members and their families.

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Leno drove the Shelby GT350 onto the auction block and, with Henry Ford III, helped amp up the bidding excitement. Retired U.S. Army Colonel Miguel Howe, director of the Military Service Initiative, was also on the auction block and performed push-ups for additional funds donated. Thanks to his efforts, the hammer price eventually grew to $885,000 with additional donations from auction guests.

The particular car is a pre-production Shelby GT350 that Henry Ford III took to Bush’s ranch in Crawford, Texas back in June. There, the former President was treated with a detailed description of the car and was given a chance to drive it.

Like all Shelby GT350s based on the sixth-generation Mustang, the car features a 5.2-liter flat-plane V-8 tuned to deliver 526 horsepower. The car is also equipped with a Track Pack and includes magnetic ride dampers, stiffer springs, an engine oil cooler and transmission cooler. Pricing for the car was recently confirmed to start at just under $50k.


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