Proceeds from the auction will benefit the NASCAR Foundation. The Mustang is set to cross the auction block at approximately 10 p.m. ET Wednesday.

“I am so proud of this car,” Wallace said. “This is the nicest car we’ve ever built out of our shop. It’s not a toy, that’s for sure. It’s one mean machine. I’m really excited to auction this car and raise a lot of money for the NASCAR Foundation.

According to the press release, the Ford featured a 358 cubic-inch V-8 Roush Yates engine that is capable of producing almost 800 horsepower. It also features SFI-approved dual racing seats with headrests and leg restraints, custom designed Billet Specialties aluminum wheels, Elite Series Auto Meter instruments, a MOMO Italy/Max Papis Inc. customized steering wheel featuring the NASCAR Foundaiton logo, Sherwin Williams paint, a full rolle cage, an on-board fire suppression system and NASCAR-style fuel cell.

“I’m really passionate about this project,” Wallace said. “I’ve had a lot of fun with it. The car’s engine has a lot of power — about 800. Its paint is fantastic, and everything on the car is really first-class. The person that gets this Mustang will be getting one of the highest-quality NASCAR-style cars you’ve ever seen.”

The auction will be shown live on SPEED Channel. The network is also set to interview Wallace and show behind-the-scenes footage of the building of the car.

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The cutaway engine is autographed by NASCAR Hall of Fame members including Junior Johnson, Dale Inman, Glen Wood, Leonard Wood, Richard Petty, Bobby Allison and Rusty Wallace. It is also autographed by HOF nominees Jack Ingram and Jerry Cook. The engine is a D3 Ford engine built by Roush Yates Engines.

“This is a great educational piece that any true gear head would love to own,” Roush Yates Engines CEO Doug Yates said. “We are so happy to be able to benefit the Tree of Life and Friends of the NASCAR Hall of Fame Foundation.”

As Yates mentioned, proceeds from the auction will benefit Tree of Life and the Friends of the NASCAR Hall of Fame Foundation. Tree of Life, based in Mission, S.D., provides food, clothing, home repairs and crisis center support for Native Americans in North and South Dakota. Friends of the NASCAR Hall of Fame Foundation provides educational motorsport field trips to underprivilegeged children across North Carolina.

The engine to be auctioned was on display at the NASCAR Hall of Fame from its opening in 2010 until it as replaced by a newer fuel-injected Ford racing engine in May 2012.

“This engine was a very important artifact for the NASCAR Hall of Fame from our opening until it was recently replaced with a new engine, also generously provided by Roush Yates Engines, featuring the new electronic fuel injection system,” NASCAR Hall of Fame Executive Director Winston Kelley said. “Our guests were mesmerized by the technology and how this cutaway engine provided such a unique visual understanding of the complexity of NASCAR engines. The additions of so many inductee autographs make it a true one-of-a-kind collector’s item, which will also provide a lasting impact on our Friends of NASCAR Hall of Fame Foundation.”

The engine will be lot #1553 at the auction. Much of the auction can be seen live on SPEED Channel.

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