This iconic vehicle could become the most expensive American car ever sold

Might this be the most valuable American car ever sold at auction?

Probably. The Shelby Cobra was an automotive revolution — it made America competitive with some of Europe's best.

Under the British bodywork is a Ford V8 pulled from the then-new Fairlady and a slightly modified chassis.

The project began the Ford/Shelby relationship that would eventually include the first-ever win at Le Mans by an American team and a host of wonderful high-performance Shelby Mustangs.

But this is the car that started it all ...

... the first ever Cobra.

Racing legend Caroll Shelby kept the car until his death in 2012. It is in perfectly original condition.

Today, it is not uncommon for Cobras to fetch seven figures at auction. But the first one ever may add another zero.

To set a record for the most valuable American car ever sold, it will need to best this Ford GT40 sold at RM Sotheby's 2012 Pebble beach auction for a whopping $11 million.