Even though the flip-top Cobra didn't sell at RM Auctions, they did sell a very nice
solid black 427 Cobra roadster (CSX3281) for $632,500. Here's the auction house's description of the car. Also, see my gallery for their catalog photos of the car.
1967 Shelby 427 Cobra
Chassis No. CSX3281
Estimate: $650,000-$770,000 US
AUCTION DATE: To be auctioned on Friday, January 22, 2010
427 cu. in. side-oiler overhead valve V8 engine with four-speed manual transmission, four-wheel independent coil spring suspension, rack and pinion steering, and four-wheel disc brakes. Wheelbase: 90"
Although Carroll Shelby’s 289 Cobra was well proven in competition, by the mid-sixties it was becoming clear that something more was needed. Every year, more power was needed to stay competitive, and Ford’s 289 had reached its reliability limit at around 380 or 390 horsepower.
In many respects, the father of the 427 Cobra was racing driver Ken Miles, who had driven many “specials” – one off cars, usually with a big engine. Miles thought the idea of a racing special with an even bigger engine might work with the Cobra. If there was any doubt about the need, it was eliminated when the Shelby team went to Nassau for Speed Week in 1963 where they were confronted with Chevrolet’s new Corvette Grand Sports, which were more than nine seconds a lap faster than the Cobras!
Although Shelby had been promised a new aluminum block version of Ford’s 390 engine, internal resistance developed from the NASCAR faction inside Ford, and Shelby was forced to make do with the cast iron 427. Although reliable at 500 horsepower, the engine was so much heavier that a complete redesign of the chassis was required to ensure that the car would handle properly. The result was a new chassis, five inches wider, with coil springs all around. With the help of Ford’s engineering department, the necessary work was done, and the 427 Cobra was born.
As with all his cars, Shelby intended to see that they were winners on the track. In order to qualify as a production car under FIA rules for the GT class, manufacturers were required to produce a minimum of 100 examples. With Shelby’s strong relationship with privateer racers, he was confident he could sell that many, and as a result, a competition spec version of the new 427 was developed. Competition features included a wider body to accommodate wider wheels and tires, an
oil cooler, side exhaust, external fuel filler, front jacking points, roll bar and a special 42-gallon fuel tank.
Regardless of the model – full competition, “S/C” semi-competition or regular street specification – Shelby’s 427 Cobra was a sports car unlike any that preceded it. Performance was mind-blowing, with the extraordinary power-to-weight ratio allowing for tire-shredding sprints to 60 mph in about four seconds!
The 427 Cobra pictured here, chassis CSX3281, is fully documented in the Shelby American Registry and was billed to Don Seelye Ford of Kalamazoo, Michigan in September 1966. It was most likely trucked out to the dealership in Michigan, and its first known owner was one Timothy H. Parker of Houston, Texas, from whom it was purchased in the early 1970s by Donald Mansker, also of Houston. Thereafter, the car went to Sacramento in 1976, as it was acquired by Rick Reese. Reese, who worked at Cobra Performance in Sacramento, replaced the car’s original 428 with a proper 427 cubic inch big block and modified the car with a full roll cage, rectangular tail lights (instead of the original twin round ones), and enlarged rear flares to fit wide Jongbloed wheels. Finished in red, the car also received a hood scoop, S/C dash layout and side pipes. It was offered for sale in 1977 after an eight month restoration. It went unsold, however, and was traded back to Mansker in exchange for a 289 Cobra – the same car Reese traded CSX3281 for in the first place.
In 1979 the car was acquired by Don Blenderman and Larry Wheeler of Oklahoma before being advertised for sale with the same S/C upgrades and a 42-gallon fuel tank. Its next owner was another Texan, Sloan Kritser, who sent the car to Bill Murray in Colorado for a full restoration, where the roll cage was removed and replaced with the correct S/C roll bar. Refinished in black, it was fitted with chrome side pipes and quick jacks as well as 7.5/9.5" Halibrands and a competition gas cap. The enlarged rear flares remained in place, however. Mr. Murray is widely recognized as one of the foremost Cobra experts and restorers in the country. He also has significant racing experience, having driven Cobras, GT40s and a Cobra Daytona Coupe in historic racing competition.
With the restoration completed in 1984, the owner never returned to pick up the car, and it was sold to someone in Colorado before it was acquired in the fall of 1987 by renowned collector Otis Chandler of Oxnard, California for his Vintage Museum of Transportation. Chandler, who owned one of the foremost muscle car collections in the world, housed his amazing collection in a 45,000 square foot facility, on two levels, capable of storing about 100 cars. From AAR and Hemi ‘Cudas to rare Corvettes and Baldwin Motion Camaros, every desirable suffix was represented, “R/T,” “L88,” “Yenko” and “COPO” included. In such esteemed company, CSX3281 was photographed for the cover of the 1990 fall/winter Classic Motorbooks catalog and was also photographed with Chandler’s other cars in Randy Leffingwell’s American Muscle as well as the Cars & Parts ’93 Collector Car Annual.
After nearly 20 years in Mr. Chandler’s respected collection, the car returned once more to Texas and is now offered in excellent condition, finished in black on black, virtually identical to the way it was restored by Bill Murray. It is retrofitted with S/C specification pieces and enlarged rear flares to resemble the competition Cobras. In fact, Carroll Shelby’s signature is visible under the hood as well.
A stunning example with an unblemished history that includes ownership by one of the country’s most respected collectors, this 427 Cobra is destined for another great collection and warrants closer inspection from any dedicated Shelby enthusiast.