As is usually the case at Barrett-Jackson auctions, this year's Scottsdale sale is teeming with Mustangs. One of the most notable is this foxy red Cobra R coupe, which sold for $132,000, making it the most expensive Fox Body Mustang ever sold at auction.

This 1993 Ford Mustang SVT Cobra R was the 11th of just 107 units made. It features a 5.0-liter V-8 engine paired to a five-speed manual transmission. The Cobra R variants were tuned to produce 235 hp, and were only offered to licensed racers. This one features various upgrades, including a revised camshaft and GT40 cylinder heads from Ford Racing.

The Mustang logged just over 500 miles on the odometer over the past quarter century. It has had two previous owners: a Ford dealer in Connecticut and Jerry's Classic Mustangs in Alabama. The car has never been dealer-prepped, the listing says, and it has never seen water.

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The final year of the Fox Body Mustang generation was 1993. Prior to that, the Fox Body Mustang had served as Ford's performance flagship since 1979.

To underscore just how well this Mustang performed at auction, let's take note of a few figures. The most expensive Fox Body Mustang auctioned off until now went for $82,500, and coincidentally it sold at Barrett-Jackson Scottsdale in 2017. That car was a 1990 Ford Mustang convertible with 16 original miles on the clock. The Cobra R's rarity and condition—especially considering most other examples were probably raced—likely pushed it above the $100,000 threshold, but who knows? Maybe the Fox Body's time has come. If you've got a low-mileage 5.0 or SVO, you might want to hang on to it just in case.

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