Last evening, before a select group of more than 300 VIPs and media at Galpin Ford in Van Nuys, California, Lee Iacocca – father of the original Mustang – personally unveiled the new ‘2009½’ Iacocca Silver 45th Anniversary Edition Ford Mustang.

Immediately following the vehicle unveiling, the number six car was auctioned off for an impressive $125,000. Bidding started at $80,000 and to spruce things up Iacocca even offered the winning bidder a private lunch with him as part of the sale. After a 15 minute back and forth between two bidders, a surprise third bidder, Steve Sularski, stepped in and upped the stakes, ultimately offering the highest bid. The number six Iacocca Silver Edition Mustang will officially be the first car delivered to a private buyer.

Demand has been so strong that Silver Edition Mustangs have already been sold for more than $100,000 and hundreds of orders and inquiries have already come in for the remaining cars. Production will be limited to 45 vehicles – commenced at the start of this month at the Gaffoglio Family Metalcrafters in Fountain Valley , California.

For those who missed our original story, the custom Mustang is largely hand-built and features a number of unique elements such as the sunken headlights, slanted grill and low stance. Based around the now superseded 2009 Mustang platform, the car is available with either a normally-aspirated 4.6L V8 rated at 320hp (239kW) and an optional supercharged version that delivers 400hp (298kW). A five-speed manual is fitted as standard on both cars.