Documenting my Cobra search

[PSB]

Originally Posted by GT11

Wow, I am away from the computer for a few hours and the forum blows up!

To give a little more background on what I must have or want, the list is short. I want a 427SC, IRS, Blue w/ white stripes and would prefer a 427FE. I want to be able to trust the build so that is why I want a car that is built by a manufacturer. At 6'3", I also need to fit in the car.

Sorry, but you might as well buy something else on your list, because you're not going to meet that list of requirements for $40K. You're going to have a difficult time meeting those requirements for $75K.

[YerDugliness]

Originally Posted by PSB

I totally disagree. Watch Cobra Country - SPFs and Backdrafts sell very quickly and hold their value and it's extremely rare to see either with a FE. I sold my Hunter with a fuel injected SBF and auto transmission on CC in less than a week for my initial asking price.

IMHO, you were lucky, although I am sure that your Hunter was worth the price they paid you, they are very nice cars.

In general, though, I stand by my comments regarding the FE engine enhancing the possibility of getting a car sold and getting the asking price. Those who want a real REPLICA will want the FE in the Big Block body style because it is what came from the factory...no small blocks were ever sold by Shelby in the 427 body style to my knowledge. I know that in my case when the hood is opened that discriminating buyer who is looking for the car he really wanted as a younger man (yes, I agree with the previous comments that when those of us who were "younger men" at the time the original Shelbys were being built in the early-to-mid 1960's are gone the market for our replicas will soften considerably) will not be impressed with my SBF, as nice as it is...it just isn't going to do it for him. The only reason it "did it" for me was the price I paid for a car I could drove home....it was WELL under $20K. My daughter paid more for her new Honda Civic than I paid for my Cobra replica. I looked long and hard for a 289 body style with the small block engine in my price range, but alas it was not to be, so in the end I accepted the body style I did not want just to get into an affordable car. I view that attitude as being in a "minority", because as GT11 says these are TOYS (although every day I can drive mine to work, I do so) and expensive toys, at that.

For someone who enjoys the buying and selling of this sort of toy, which may very well be GT11 given the cars he's already said he's owned, the search for that car that really stirs the soul is part of the passion and for MOST (notice I did not say "All") of those with enough disposable income to pay cash for one of our TOYS the impetus is to get the toy they wanted as "younger men"...ergo, they will want something that is as close to what Shelby was selling back then as possible.

Having said that, though, if GT11 really can afford to buy the "real thing", then he doesn't really need to settle for a Replica that may very well deteriorate in value, or may be lucky to hold their value...IMHO he needs to buy one of the "real thing" originals and enjoy the ride in the Jeep to the bank when he sells it for a huge profit!

Me...I'm certainly happy puttering around town in my replica, since as a retired teacher I'll NEVER be able to afford an original. The only reason I might sell mine is to help finance a Daytona or a GT40 (although I might consider an ERA 289FIA replica...I mean after all, it's what I have wanted for 50 years)! I think I really need a 4-season TOY and the SPF Daytona has roll-up windows, for goodness sake, so with A/C and heat it's a 4-season car!

Cheers!

Dugly

[Large Arbor]

Patrick,

I cannot say I disagree with you on that point. I just dropped over $300 for a starter. Its like Ford parts vs Chevy, Fords seem much more expensive. I never had a Nissan but drove my brothers 69 427 Vette and it did not ride as nice as my ERA. $5200 for a outboard brake rearend is also not inexpensive nor is any aluminum block engine.

It is a little bit of a double edged sword though in that it keeps the values of our cars up. I however likely could not afford to build new of what I have now as the price would push close to $80k or more. The only think cheap I have found yet that works great is the Turtle Wax spray on bug and tar remover!

Phil

[madmaxx]

As far as the Cobra resale market I only deal with SPF and random BDR's. Bottom line is it is a dieing hobby. Every SPF I sold was to a 65 plus years old male. I see a real glut hitting over the Cobra market in the next 2-5 years. Bottom line is Cobra owners are getting old and dieing. I had a conversation with the receptionist at Hillbanks a while back. I asked where they get their consignments from and she said alot are from widows. Truth be known I told my wife if I ever died and their was a Cobra in the garage to call Hillbanks and let them handle the sale.

Look at Mecum auctions. The majority of the audience are overweight 65 plus year old men and many with walkers. If you are under 50 years old (like me) you are into electronics, tuning and today technologies. The reason I stuck with Cobras is I can easily fix them myself.

To be honest the next Cobra I buy is mine. It will be a Kirkham, I kick myself for not buying one last year as it was everything I wanted for $105K. Today $105K is alot less to me than last year..... than again I am a year older.

I love SPF's because like Rolex they do a fantastic job advertising. A first time buyer is getting a known brand with a great reputation. I agree do not compare a $65K new BDR to a New SPF. Two different cars each worth what they cost. SPF are built like tanks, no rattles, no panel rubs, all components designed for SPF not hijacked off a BMW. Exact replica dashboard. I am not saying a BDR isnt a great car I am saying a SPF is worth $10-15K more and they retain their values better.

[patrickt]

Originally Posted by madmaxx

Bottom line is it is a dying hobby..

I agree. I just don't see the next generation dropping six figures for an obscure toy that sits in the garage untouched 99.9% of the time (but still manages to break down). Unless, of course, six figures is "throw away" money to you. ERA, Kirkham, Shelby, and the others are surely smart enough to see that the current owners of the companies can probably ride it to the end, but I don't see it remaining profitable beyond 20 years, if that.

[PSB]

I wish you luck, but if you find a Backdraft or SPF for less than $40K, either it's a fire sale or there's something wrong with it. I have seen many very nice FFRs in your price range.

[RodKnock]

This thread is depressing.

The OP has lost the passion to own/drive most cars and really isn't sure he wants a Cobra. But if he does find one cheap enough, below market, he may buy it, try to enjoy it and then will eventually sell it to move on to the next thing. Short-term owner at best.

Patrick and madmaxx think cars are a dying breed and the hobby will cease to exist in 20 years +/-.

And now Patrick is displaying early onset dementia.

Old Jaguars, Mercedes, Porsches and Ferraris...BORING! The list of possible candidates is so diverse that it makes no sense to me. $12,000 cars to $400,000 cars. Just my opinion, but I think the whole search thing is BS.

BTW, I own both a Cobra and a 911 and they're completely different cars. 180 degrees polar opposite different.

A Beck 550? Oy vey. POS and you won't be able to sell it. At least quickly.

[Mark IV]

I have a customer with an SPF blue/white that is Windsor powered. In the $40's but has miles on it. However we did a recent refresh of the engine as well as other upgrades (a new TKO600, etc.) as well as hardtop (which is an easy sell if you do not want it). He is a motivated seller due to some family circumstances.

If you would like to talk to him PM or email me and I will put you in touch.

[Dimis]

Originally Posted by Mark IV

I have a customer with an SPF blue/white that is Windsor powered. In the $40's but has miles on it. However we did a recent refresh of the engine as well as other upgrades (a new TKO600, etc.) as well as hardtop (which is an easy sell if you do not want it). He is a motivated seller due to some family circumstances.

If you would like to talk to him PM or email me and I will put you in touch.

I'm sold on it...
In a car like this miles are NOT a negative.
In fact for me they are often a positive.
Rubber tends to perish with age.
Miles show the car works. More miles often suggest it works better.

Just my 2cents.

[patrickt]

Originally Posted by RodKnock

And now Patrick is displaying early onset dementia.

I had a pretty snappy comeback for that remark... but now I can't remember what it was.

[JLip]

Originally Posted by RodKnock

This thread is depressing.

The OP has lost the passion to own/drive most cars and really isn't sure he wants a Cobra. But if he does find one cheap enough, below market, he may buy it, try to enjoy it and then will eventually sell it to move on to the next thing. Short-term owner at best.

Patrick and madmaxx think cars are a dying breed and the hobby will cease to exist in 20 years +/-.

And now Patrick is displaying early onset dementia.

Old Jaguars, Mercedes, Porsches and Ferraris...BORING! The list of possible candidates is so diverse that it makes no sense to me. $12,000 cars to $400,000 cars. Just my opinion, but I think the whole search thing is BS.

BTW, I own both a Cobra and a 911 and they're completely different cars. 180 degrees polar opposite different.

A Beck 550? Oy vey. POS and you won't be able to sell it. At least quickly.

I totally agree......I have a buddy that has a shell, motor, and tranny for cheap....Build it, play with it, then sell it.

[GT11]

Rod knock, you are on the Hull Truth, aren't you?! Only other THT guys will get that.

MarkIV, I sent you a PM.

Dugly, one of the reasons I don't buy the real thing is because you are limited to how much you can drive it...something that nice would be hidden away like some of the nicer scotches I have. Just one of my quirks.

[YerDugliness]

Originally Posted by GT11

Dugly, one of the reasons I don't buy the real thing is because you are limited to how much you can drive it...something that nice would be hidden away like some of the nicer scotches I have. Just one of my quirks.

The market for original Shelby products may be softening...at the collector auctions the Shelby GT350 and GT500 Mustangs are not bringing what they use to. There has to be a ceiling somewhere.

I am informed that there are two owners of original Shelby Cobras in the Dallas/Ft. Worth area who drive theirs on the street regularly. I would be a bit shy about doing so, too.

Cheers!

Dugly

[Large Arbor]

I am not so pessimistic about the replica market. It has up tics and down tics to it but seems to hold up. There are so few Cobras out there they draw lots of attention wherever they go.

I think the age group tends to be older, partially being driven by when the income becomes available to be able to buy a replica.

Phil

[madmaxx]

If I could afford an original but didn't want to be constrained by mileage than a Kirkham is a no brainer.

[GT11]

Ok guys, I will be of pocket for the next couple of weeks and may not be able to check the forum. I didn't want you to think I had abandoned the search!

[GT11]

Our businesses has kept me busy for the last month and I am not sure when it will let up. It really slowed down my search and caused me to miss a couple of really nice cars; one was a SPF that went for $42K and a BDR that went for $37K.

However......last week while visiting one of the companies, I got a tip on a car and dropped by to see it on the way to the airport. Not a Cobra, but #2 on the list. It was a 1956 Porsche 550 Spyder replica. The car was/is in excellent shape and is loaded with goodies. The price was right so I took delivery of it yesterday. I spent all day today cleaning it up and fixing a few minor issues. It is an absolute blast to drive...at 1200 pounds, it is fast and handles like a dream.

I haven't abandoned my cobra search however. I am still looking but work will keep the search slow for the next 6 months to a year. I have a tip on a BDR that is a little over priced but hopefully time on the market without interest will bring the price down.

[patrickt]

Originally Posted by GT11

Our businesses has kept me busy for the last month and I am not sure when it will let up. It really slowed down my search and caused me to miss a couple of really nice cars; one was a SPF that went for $42K and a BDR that went for $37K.

However.......

It's not a Cobra. Big difference. Your Cobra fever has probably broken and you're now coming to your senses. Look, since your business is taking up your time, do this: Put $42k in to a dedicated account. Then, every time you miss a Cobra opportunity "because of business" write a check for $5k and put it in to that account. Not only will your Cobra choice options now grow, making it easier to find that primo Cobra, but when you finally do throw in the towel you'll have a nice cash account waiting for you.

[LMH]

Very nice! 550's are one of my favorites!
Larry

[750hp]

Looks great - well done!