With all the hype surrounding the introduction of the Mustang in April 1964, the fact that it was chosen as pace car for the Indianapolis 500 often gets lost in the shuffle. Why is this? Perhaps because approximately 190 were built, all with the 260ci V8; an additional 35 convertibles were used as dignitary cars at the racetrack. However, only three were prepared for pace car duties. This one is the one that actually paced the race.
Ford sent all three convertibles to Holman Moody in North Carolina for preparation, which included replacing the 260 with a modified 289 (although not a K-code high-performance 289), tweaked suspension, and the typical pace car accoutrements like the flags, grab bars and two-way radio.
Not much is known about the history of this particular car other than it was stored for years until purchased by a Mustang Club of America official. A high-end NOS restoration eventually led to a perfect score in the club’s Thoroughbred class.
And now here we are, in the year 2014, and a dealer has the vehicle (on consignment?) with an asking price of $1,099,000 with the claim that it’s “the most significant historic Mustang in the world.” We wonder how Mustang folks feel about that and if they’d be willing to pay that price? We think there’s plenty of Fords − even Mustangs − have a chance at reaching that price before this one does.