Ford's first production Shelby GT350R Mustang will be up for auction at Barrett-Jackson in Scottsdale on Saturday to benefit diabetes research.

The Shelby GT350R came from Ford and Carroll Shelby in 1965, an iconic model offering a track-ready take on the popular Ford Mustang.

Funds from the sale will go to the Juvenile Diabetes Research Foundation International. The winning bidder gets the pick of options for the Mustang, choosing from any available colors and packages.

"The Shelby GT350R is a world-class car, the best performing Mustang that we have ever built," Raj Nair, Ford vice president of global product development, said in a statement.  "We are thrilled to donate the first retail production Shelby GT350R to JDRF for auction."

The Dearborn, Mich.-based automaker has supported JDRF with donations since 1983.

"We are honored to be part of the company's 50-year celebration of the Shelby GT350 at Barrett-Jackson Scottsdale," John Brady, JDRF chairman of the international board of directors, said in a statement. "We are dedicated to continue our work and to share our vision of creating a world without type 1 diabetes."

The new GT350R unveiled at the auto show in Detroit this week boasts more than 500 horsepower and gets carbon fiber wheels in the base trim. Its new 5.2-liter dual-overhead-cam V-8 engine is the first production V-8 from Ford to include the flat-plane crankshaft architecture seen in exotic European sports models. 

The Shelby GT350R will go into limited production for availability in the United States and Canada later this year.

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