Gooding just auctioned the #22 made 289 cobra (documented) for $750,000 with premium. I thought these were seven figure cars? Is this a steal or something wrong or is my understanding of the market way off?
Sometimes they are 7-figure cars, but often they are "just" 6-figures. I assume you are referring to CSX2023. If so, it is non-original engine (was shipped with a 260 not a 289), not the original paint or interior colors (was white with red interior, now silver with black interior). It looks like a nice car, but it doesn't tick a lot of the "correct" boxes.
Mark you are correct regarding all the boxes and with Cobra's it means everything for collectors. On the other hand, we as car guys, would cherish (speaking only for myself) an original chassis. As you probably know some people find the original drivetrain before the chassis. The 427's pushed the car into the 7 digits (road or race version) but if your information is correct it reminds me of a saying "only fools rush in".
Thanks gents. IIRC there was another 289 sold this weekend for $850k range...so I guess they are sub $1M. Its just interesting to me in light of $500k for a 1997 911 Turbo S and other far more recent and less "interesting" cars going for such sums.
Could the proliferation of all of the kit car Cobras have a negative impact on the price of an original Cobra?
I sure hope so! ;-) It is true that with the now decades old proliferation of kits and replicas that many expect every Cobra they see to be a replica, and the owners of original cars need to identify that their cars are the real deal. I think that would get old. I had two chances to buy Cobras for sane money back in the day. Once in 1979, I was buying a 68 GT-500 and the seller also had a green 289 car with Webers parked next to it. He told me I could take it home for "only" $25K. Then, in 1984, I made the choice of purchasing a 74 Pantera instead of a 289 car that "needed body work" for $15K. Over the years, I have watched the replica market on and off, but never had the sense that replica prices were "worth it" compared to other options for similar money. That changed when in December I was presented an offer I couldn't refuse, and am now the proud owner of a Superformance 427 Roadster/Street version (no pipes/no stripes). Have not had the chance to put any miles on it yet, but am actually kind of stoked to go do a couple smokey burnouts with it...
I had a friend up here build one about 6 years ago (don't remember the brand) and he did an outstanding job. Used the Ford Windsor 390 cu in crate engine in it. Not sure how it really compared to an original Cobra but it is a pretty incredible car.
A friend of mines Dad has real cobras. He got them in the late 60's, early 70's. The 289 he has been offered mid 6 figures and turned them down. On the 427, he's never been offered more then high 6 figures. Its been a few years since I last talked with my friend. His Dad is an oral surgeon and loves the cars more then money. Replicas became super popular in the 90's. His Dad does drive them. He gets nice cobra who makes it comments. Even some that's the best replica I've seen. Only Shelby people get it right.
Oh a few cobra's had the 260 engine and some also delivered with 428's. Most of these cars owners swapped in 289's and 427's. These versions always sell for less.
Some of these replicas are factory built - like the Kirkham, Shelby, Superformance and at least some of the ERAs. This means consistent quality, and generally a reasonably close representation of the original. This also translates into highest retained value for the makes listed above...
the kirk, the Shelby and the era are great and accurate replicas. only the superformance 289 fia is accurate. their 427 takes a few indecent styling liberties. they do make a terrific gt-40 mk I an II.
I interviewed Lynn Park a few weeks ago (posted on You Tube as Mr.Cobra Lynn Park interviewed by Carlos R and..." during the interview he pointed to a faded yellow Cobra 289 and said that as far as he was concerned that was the most valuable car there because it had: -original paint -original interior -never been hit -almost all original engine parts and gearbox Of the more than a dozen other ones you can see in his garage, many have been, in the last 50 years -hit and body repairs done with non Shelby supplied parts -flared for wider wheels and tires -repainted a color the painter thought "close"\ -reupholstered to the wrong pattern So unlike the days when a new paint job in racing red sold the car, now the sages buy a car that has never been screwed with so, if they do restore it, they are working with original ref. points (I even think many would like not to restore it except mechanically but the Mrs. says "I won't ride in that faded old car." We didn't get into dollar values on the televised portion but I think a small block Cobra that has been similarly unmolested, and un-hit is between $770K and $1 million, but it helps if it had a famous owner, was raced (which might have documentation) or a factory experimental car. Look up Colin Comer, car salesman, he knows the market and has had some real ones for sale recently
to the OP, car in question was a NOM 289/260 and repainted, and non OEM interior ...I think $750 was pretty strong given its "mutt" history. Overall, SB's 750-950. true 428's and comp cars $1M+
IIRC, most cars were true 428 blocks, but badged/considered 427 cuz it was "cooler" at the time...no swapping required
True. I think a lot of original engines got swapped due to racing. Blown engines, etc. Its been a few years since I talked to my friend or his Dad. But he bought the 289 in like 70 for a track car. Even the street cars most got tracked in the 70's.
The cobras did not have such a thing as matching number engines other then the correct date codes as they were all engine transplants that is the engine was added by shelby after the car was built by AC.. but the car in question should have been a 260 and I believe all of the early cars i.e. the 260s are worth considerable less then the later 289 cars. That car would look great with the original white and red combo in my opinion...
the current car has been on the market after the auction (i assume bought by a dealer) the current price is 875 which is strong considering its history ... as has been mentioned in this thread .. this group of cars i.e. the very early slabsides are the lowest values of the cobras... I have always had a desire to by a (real cobra ) just never wanted to pay the price but maybe soon... likely a slab side i like the clean look.....
Had a couple of chances as well. All were a bit beyond the budget at the time they were presented. Now have a high quality replica roadster that - interestingly enough - holds my interest and affection alongside the rest of my collection...
There were cars with 427 blocks and 428. Mine now has the original side oiler block with original dual 4 intake and carbs.I had another that had in the beginning had the 427 side oiler but in the early days around 70 you could get a side oiler replacement block in the box, you could tell them by the ribs on the sides of the block above the oil pan. Image Unavailable, Please Login
I thought the dual carbs were 428s and most all the street cars were 428's. teh 427 was single carb turkey pan on the sc?
this looks like a nice car like them a lot better without the side pipes .YOu say this is a replica which brand is it..??
