WEST PALM BEACH, FL (April 2007) -- Mustangs new and old were running wild -- and topless -- in Palm Beach Florida during the 5th Annual Barrett-Jackson Auto Auction, held at the South Florida Expo Center. This time however, the big story of the event wasn't some record-setting, multimillion-dollar bidding war, but rather the unveiling of the all-new 2007 Shelby GT-H convertible, presented by Mark Fields, Ford's president of the Americas, and the man himself, Carroll Shelby.

The event was televised live on Speed TV, and marked the first ever new-car unveiling for the Barrett-Jackson auction, as well as the first time that Ford has unveiled a new car outside the major auto show circuit.

"The Ford Shelby GT-H was so much fun to drive that people literally begged us for more," said Shelby on the creation of the 2007 GT-H convertible. Only 500 GT-H convertibles will be built, and all of them will report to Hertz for rental duty. Except for one.

In true Barrett-Jackson style, the new Shelby droptop that was on hand -- officially tagged Shelby GT-H Convertible #001 -- went on the auction block shortly after the unveiling as the only Shelby / Hertz GT-H Convertible to be offered new to the public, and the public responded accordingly. Bidding opened at $100,000; at $150,000, a one-of-a-kind Fender guitar was brought out of the trunk to sweeten the deal, decked out in the signature Hertz black-and-gold color scheme to match the car.

At $175,000, Mr. Fields announced that delivery of the vehicle would take place at the Shelby facility in Las Vegas, and then proclaimed, "I'll throw in my shirt!" Undaunted, bidding continued, with Shelby himself offering his own shirt when the price hit $210,000. Just when the bidding seemed to level off, Mr. Ron Pratte phoned in a $250,000 bid that was hammered down as "Sold!" No doubt, Shelby GT-H convertible #001 will be joining Mr. Pratte's previous Barrett-Jackson purchases, including the first GT500 in 2006 and the record-setting $5,500,000 Shelby Cobra "Super Snake" that sold in January at the Scottsdale auction.

Best of all, proceeds from the sale went straight to the Carroll Shelby Children's Foundation.

The new 2007 GT-H Convertible has all the appeal of the 2006 GT-H coupe that saw rental duty in the Hertz Fun Collection last summer -- and then some. That includes 319 horsepower funneled through a tweaked driveline, with a Shelby-unique front fascia, bodyside scoops, Hertz Edition badging and a numbered dash plaque with Carroll's signature. Every car will again be black with the Hertz trademark gold striping. Brushed aluminum hood pins will adorn a unique hood, and black-finish 18-inch wheels are at all four corners. But when the weather heats up in this GT-H, the top goes down to let in the sun and reveal a unique rollbar that adds rigidity and a measure of sex appeal.

"Any Mustang touched by Carroll Shelby has a head-start on becoming a legend, and a highly desirable collectible," said Cisco Codina, group vice president of Ford North America Marketing, Sales and Service. "But they're all designed to be seen, heard -- and driven hard."

The new GT-H convertible wasn't the only eye-catching stallion in town during the Palm Beach auction weekend. Mustang shoppers were offered a variety of vintages and price ranges at the Barrett-Jackson event, starting at $21,450 for a sharp 1965 289 hardtop, and finishing with a 1968 GT 500E "Eleanor" built by Unique Performance that commanded a full $181,500 to take top-dollar honors, the Hertz / Shelby deal not withstanding. In total, 39 various incarnations of the Mustang went across the bock, including factory stocks, wildly customized resto-mods, factory race cars, early Shelbys, as well as 1960's and '70s convertibles and a few late-model snakes. When you add them all up, Mustang sales at Palm Beach generated $2.6 million, with an average selling price of nearly $68,000!

Focus in the auction world now switches back to Scottsdale, Arizona, for Barrett-Jackson 2008. A selection of Shelby / Hertz GT-H coupes -- and maybe a few Shelby GTs and even a GT500 or two -- should be making their way to market by then -- and who-knows-what other new products Ford and Shelby will be headlining at the event. While neither Fields nor Shelby were willing to tip their hand on what 2008 might bring, there was one statement we can share that summed up the future product plans for Ford's venerable pony car.

"The Mustang program never stands still," said Carroll Shelby.

A Mustang -- and real Ford Mustang fans -- wouldn't have it any other way.