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Our insider snapping photos and videos out in Scottsdale at the big BJ auction managed to get themselves up on the stage and take some shots of Ford's newest Mustang derivative, the #001 serial-numbered Shelby Mustang GT. We've got the picture gallery below and according to the description from FoMoCo PR description from Shelby PR shit pulled off of Barrett-Jackson's website from god knows where:

"This car will be the first to be produced, and will carry Shelby authentication plate Number One. The Shelby GT Mustang combines the best in classic Shelby looks and Ford Racing Performance Parts for a well-balanced, corner-carving Mustang that is equally at home on the track or the street. These cars start life as a Mustang GT at the factory in Flat Rock, Michigan and are...

...shipped to Las Vegas for modification by Shelby. Ford Racing power and handling upgrade packages increase performance by approx 25hp, and lower the car 1.5" while tightening the suspension and improving handling. The car is also fitted with a Hurst short throw shifter and X-pipe exhaust. Some key Shelby design components include hood scoop, hood pins, grille insert, sill plate and floor mats, "Shelby GT" side stripe, "Shelby" badging on trunk lid, and a custom authentication plate on the dash. The Shelby GT will be available in white or black only, with silver LeMans stripes. White cars will be built with polished 18" wheels, while black cars will have black 18" wheels. This special edition Mustang will be available in both manual and automatic transmission."

Wait, we know that's Shelby in the passenger seat, but who's the man driving the car? Could it be FoMoCo Prez of the Americas Mark Fields? Why yes, yes it is. For anyone interested, the GT ended up going for $660,000 and oh, yeah — our insider also snapped us a pic of a '66 Shelby Cobra 427 "Super Snake" that ended up going for $5,500,000. What was it that one guy was saying about a muscle car bubble again? [Hat tip to WD!]

More Straw, Less Muscle: Media Control Program at Barrett-Jackson; Barrett-Jackson's All About...Drifting? [internal]