Supposedly that car is THE CAR from the 2nd "Gone In 60 Seconds" that stopped filming after the death of the producer. I don't know all of the history. Just that a telephone pole fell on him during shooting and killed him.
What are the odds? H.B. Halicki was hurt badly on the original film in the wreck on the freeway when he hit a light pole at 100mph. Then making the sequel, he gets killed when a water tower cable snaps and knocks down a telephone pole onto him. Thats some final destination level stuff.
Hard to say if a car really is the car used for a movie that was never completed. Without any sort of paperwork, photographs, and film, the owner can't prove it. So as far as everybody else is concerned, its not true. The cars in the first film were 1971 models with a 1973 grill. They have the smaller 1971 bumper and the fenders that go with it. They were painted generic school bus yellow. They use multiple cars with one (or more) being heavily modified for stunt driving and wrecking, and some of them staying more original for interior shots.
I'd say his million dollar price tag is at least 20x-50x too high, assuming he can prove it is an almost movie car. The 1967 eleanor from the remake is way more sought after. They had 11-12 total eleanors, with 3 of them being functional and drivable. 2 of them sold around $250k, the main car and the one used in all the promos went for $1M.