The Ford Mustang is celebrating its 45th year by auctioning three pony cars during the 7th Annual Barrett-Jackson Palm Beach Collector Car Auction.

The Ford Motor Company is putting three Mustang cars on the auction block. One of them will be the first retail 2010 Ford Shelby GT500. The other two are a pair of Mustang GT concept cars that have not gone on sale yet. The three Mustangs are going to be sold along with 400 other collector cars for charity on April 9-11 at the Americraft Expo Center at the South Florida Fairgrounds. Any money received for most cars above the manufacturers suggested retail price gets donated to The Carroll Shelby Children’s Foundation. The proceeds from the two Mustang concept cars gets donated to the Juvenile Diabetes Research Foundation.

Selling these Mustangs in an auction is an extraordinary event, according to Craig Jackson, Chairman and CEO of Barrett-Jackson. “It’s rare for a concept vehicle, especially one as iconic as the Ford Mustang, to be sold to the public.” He went on to say that giving enthusiasts “an opportunity to take home the ultimate keepsake is an admirable way to mark the 45th anniversary of the Mustang, which will be celebrated a few days after our event.

You can watch the auction live on the SPEED network. Better yet, get behind the wheel of a new Ford Mustang at your Omaha area Ford dealer!