The GT500KR was hailed as the fastest production Mustang built by Ford and it was the 88th built out of a limited edition of 1000 muscle cars.
There were 116 miles (186.6km) on the clock and its top speed was limited to 250kmh.
Former building contractor and Queenstown Auto Extravaganza committee member Lewis Gdanitz bought his dream machine for more than $NZ200,000 from Shelby Automotive in Las Vegas and had it shipped to Queenstown, direct and unaltered, two weeks ago.
Mr Gdanitz said he had always loved cars and had been a collector for several years.
So far he had driven his latest addition to Arrowtown and back.
"It's a pretty special car, and collectable. This thing's an investment. It will go up in value. With the public, it's definitely a head-turner."
Other vehicles in Mr Gdanitz's collection include a 1965 Mustang Convertible, a pair of rare 1970 Boss Mustangs, a 2005 Saleen Mustang, a limited edition 1992 GT Ford Falcon, a 2007 Ford GT500 convertible and a 1966 Ford GT40 replica.
All will appear in the Queenstown Auto Extravaganza's public car show, inside and outside the Queenstown Events Centre, on Saturday from 10am to 4pm.
Mr Gdanitz will drive his GT500KR alongside some of the biggest and fastest cars from the show in the 1/8th Mile Sprint, on Domain Rd, off Lower Shotover Rd, on Sunday, from 10am to 2pm.
Three Cobra cars will deliver goodwill messages from Auckland mayors to Queenstown Lakes Mayor Clive Geddes, on behalf of the community, at the resort's Earnslaw Park at 1pm today.
Ticketed events consist of a car cruise around the Wakatipu Basin from 6.30pm today and a Rock 'n' Roll Dance Party at Coronet Peak tomorrow night.
The debut Queenstown Auto Extravaganza aims to raise money for the Prostate Cancer Foundation of New Zealand.
