The one-off 2004 Ford Shelby Cobra Concept is heading to auction in August and while no pre-auction estimate has been released, it should fetch a pretty penny.

The fully-functional concept was inspired by the original AC Cobra and was known internally as ‘Daisy.’ Plans to produce it were never realized but even so, it remains a serious piece of kit and is one of the most recognizable concepts Ford has created in recent times.

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Overseeing the design and build of the concept were Carroll Shelby, former Ford Vice President of Product Development Chris Theodore, and Group Vice President of Product Design J Mays.

Underpinning the Shelby Cobra Concept is an all-aluminum space frame chassis that features a bespoke billet aluminum front structure. It also has the same front and rear independent suspension as the Ford GT, features Brembo brakes at all four corners and sits on bespoke seven-spoke BBS wheels.

Power comes from a 6.4-liter aluminum V10 with dry-sump lubrication pumping out 605 hp that’s coupled to the Ricardo six-speed manual transaxle of the Ford GT driving the rear wheels. The car is currently owned by Theodore and is titled and registered for road use.

The Mecum listing doesn’t note how many miles the car currently has under its belt but does note that Carroll Shelby drove it for more than 150 miles (241 km) at Irwindale Speedway in California during a media event in December 2003.