A custom Ford Mustang GT built to honor a World War II flying ace was sold at a charity auction for $400,000 on Thursday.

(cebudanderson.com)

The muscle car was painted in the livery of Old Crow, the P-51 Mustang flown by C.E. Bud Anderson, who was credited with over 16 victories during the war.

(cebudanderson.com)

Anderson, now 97, had a long career as a military and test pilot, and is considered one of America's greatest aviators. All of the proceeds from the auction held at the Airventure show in Oshkosh, Wis., are earmarked for the Experimental Aircraft Association's educational programs.

READ OUR EXCLUSIVE INTERVIEW WITH BUD ANDERSON

(Ford)

The car was modified by NASCAR team owner and aviation buff Jack Roush's performance outfit, and features a 710 hp supercharged V8, aerodynamic tweaks and an interior trimmed in brown leather and military green canvas.

(Ford)

The car was the 12th donated to the event by Ford and the sale brings the grand total raised by the auctions to nearly $4 million.