This 1964-1/2 Ford Mustang, labeled by RK Motors as “the most significant historic Mustang in the world” has been featured in numerous automotive publications, and was recently appraised at $1.25 million by a museum curator. Why so much? Well, this rare early Mustang has plenty of provenance.

RK Motors holds two letters from the former owner of Sebring Raceway (one notarized) authenticating the car’s history. The exclusive automobile sale and auction company has a jump drive that contains vintage pictures, vintage articles, and a wealth of research and information, two die-cast models of the car, and more.

Most significant historic in the world is quite a claim, but here are the facts to back it up. When the vehicle was being made ready for introduction to the American public in 1964, Lee Iacocca had an idea. The current Ford Falcon had already been planned for use as the pace car for the 1964 Indy 500, but the boss made a quick switch.

As soon as the first few cars came off the assembly line, they were sent to Holman Moody. Pace cars at that time had to be able to safely drive at 140 mph, so the new stock Mustangs were in need of some modifications.

Holman Moody replaced the stock 260 V8s with de-tuned 289s, hi-performance engines that had been slated for GT40 Le Mans cars. A lowered and stiffened suspension was created; and for the finishing touch, chrome flag stanchions were added.

The car is in mint condition, and might just be worth more than one-million dollars to the right collector. Below are some more cold, hard facts about the car, but if you want even more information, check out the video above, then go to the cars’ RK Motors web page to read the entire story for yourself. What would your bid be?

• Original 289 cubic inch “experimental” Ford V8 developed for the GT40.
• Holman Moody modified suspension.
• Correct red, white and blue interior modified by Holman Moody.
• Original “experimental” Toploader 4-speed manual transmission.
• Holman Moody modified brakes.
• Original narrowed ’59 Galaxie rear axle with limited-slip differential and 3.25 gears.
• Correct Fleet White single-stage paint with correct Indy 500 decals.
• Paced the 1964 Indy 500 at the hands of Benson Ford.