The movie industry has given birth to several iconic vehicles over the past 50 years, but very few have reached the heights of the Ford Mustang Eleanor. The famous grey-painted muscle car gained legendary status in 2000, with the remake of the 1974 cult classic "Gone in 60 Seconds." Penned by famed hot rod designer Steve Stanford and built by Cinema Vehicle Services, the Eleanor and its high-speed stunts with Nicolas Cage behind the steering wheel became as popular as Steve McQueen's "Bullitt" 'Stang.

Eleven cars were built for "Gone in 60 Seconds," with only three finished as fully functional vehicles and used in the film. These are known as the "Hero Cars" and have become true collectibles. All were auctioned off in the last decade, with the example used for most movie scenes and promotional photographs fetching an amazing $1,000,000. Another functional Eleanor is set to go under the hammer in December 2014, during a Mecum Auctions->ke2845 sale in Austin, Texas.

The unit in question, carrying VIN number 7R02C173895, is equipped with all the cool exterior, interior and mechanical bits and pieces that made the Eleanor famous. It's the second time this model is being auctioned. Last time it changed owners in 2012 it sold for a mere £95,000 ($152,700 as of 10/24/2014), making it the least expensive of the three hero cars.

Click past the jump to read more about "Gone in 60 Seconds" Eleanor.

Why it matters

The VIN 7R02C173895 Eleanor might not be the main hero, $1-million car, but each and every Eleanor that hits the auction block is bound to generate a lot of buzz. This is far from surprising, as it is more than just a beefed-up Mustang, being backed by a successful movie and all the sparkle that comes with starring in a dynamic, pursuit-packed motion picture. Owning an Eleanor is like a dream come true for many enthusiasts and collectors, and this is what brings the big bucks in. We expect this Eleanor to fetch in excess of $250,000.

"Gone in 60 Seconds" Eleanor

Designed by Steve Stanford, the modern-day Eleanor is built around a 1967 Ford Mustang. The pony received a custom body kit with fender flares, bespoke hood and trunk lid, and a side exit exhaust, as well as a host of Shelby-sourced parts. A set of Schmidt, 17-inch wheels complement the grey-painted exterior.

Inside, the Mustang received a "Go Baby Go" shifter knob, an air-conditioning system, a Lecarra steering wheel, and a bespoke speedometer.

Enhancements go even further under the hood, where a Ford Racing, 5.8-liter crate engine replaces the standard unit. The mill benefits from a Holley 700 CFM four-barrel carburetor, a high-volume fuel pump and sends power to the pavement through a four-speed manual transmission.