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Ford revealed a new generation of the Mustang last September. It’s the nameplate’s seventh iteration, and it will appear in showrooms this summer as a 2024 model.

The first example, with a VIN ending in 001, will be sold much earlier, however. Ford on Monday confirmed the rights to the car—it hasn’t actually been built yet—will be put up for sale at Barrett-Jackson’s auction scheduled for Jan. 28 in Scottsdale, Arizona.

All proceeds will be donated to JDRF, a charity that supports the fight against diabetes. The automaker also sold the rights to first examples of the most recent Shelby GT500, Mach 1, and Bullitt. It’s not unusual for bids to enter seven-figure territory during such sales.

The first example of the seventh-generation Mustang is confirmed to be a Mustang GT. This means the lucky buyer will receive a car fitted with a 5.0-liter V-8 tuned to deliver 480 hp in standard guise or 486 hp with an available active exhaust option. The exhaust is part of a Performance Pack that also adds Recaro front seats. The buyer will also be able to choose between a 6-speed manual transmission or a 10-speed automatic.

2024 Ford Mustang2024 Ford Mustang

Other Mustangs that will be available at this summer’s market launch will be the 315-hp Mustang EcoBoost and the new Mustang Dark Horse. The Dark Horse shares the Mustang GT’s 5.0-liter V-8 but gets a 500-hp tune.

The Dark Horse isn’t actually a single model but a new performance series. In addition to the track-focused but street-legal regular Dark Horse, there will also be a track-only Dark Horse S and race-ready Dark Horse R. Ford hasn’t provided specs or timing for these track-only variants.

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