The iconic stunt car was snapped up within minutes at the Mecum Auctions event in Kissimmee, Fla., but the buyer has not been identified, Fox News reported. The price tag makes it the most valuable Mustang and the second-most valuable muscle car sold at auction, according to insurance company Hagerty.
Last year, a 1967 Shelby GT500 Super Snake Mustang sold at Mecum Kissimmee for $2.2 million, according to Hagerty.
In 2014, the most valuable muscle car to be sold, a 1971 Plymouth Hemi Cuda convertible, was bought for $3.5 million, the company said.
Sean Kiernan sold the “Bullitt” car 45 years after his father, Robert Kiernan, bought it for $3,500.
In 1977, McQueen himself tracked down the vehicle and wrote to Robert asking to buy it back, but Robert never responded, according to a report from The New York Times.
Even though the car has been in his family for so long, Sean Kiernan decided to auction it because he didn't have room in his garage.
He opted for a no-reserve sale, which meant there was no minimum price that buyers had to top. Once auction fees are added, the winning bidder will pay a total of $3.74 million.
Fox News’ Gary Gastelu contributed to this report.