Documenting my Cobra search

[GT11]

Since the chase is half the fun of owning a car, I figured I would document my journey to find a car. For those that saw my introduction, I am looking for my next toy and a Cobra Replica is high in the list but I could end up with something else if I find the right deal.

As far as the replica, I am looking for something with IRS with the following making my final list:

BDR, Unique, ERA and Superformance

Other cars I am considering are:

Jaguar E-type convertible & other European classics.

I am not looking for something to race; I just want a car that drives well, has some performance and makes me smile when I open the garage.

Since I am in Texas and we have emissions testing, the car will have to be title as a 196X replica so emissions testing won't be required. (If a Texas guy in Harris county or one of the counties that require emissions testing has other info, please let me know)

Budget:

Used Replica (for now) $40K max, will look at new if over that.
Other cars, depends on the car but to $60K
Must be under market (what fun is it paying full price!)

Let the fun begin!

[GT11]

Mecum is in town and they had a few cars that caught my eye. I am not sure I like the auction buying. You pay an 8% premium on top of your bid price and the auction company is there to make sure you pay the max amount for the car you buy. There can be some deals but it is typically on some of the more obscure cars.

There are so many cars, you can't possibly look over every car that you are interested in buying and this causes many people to over pay.

In yesterdays auction, I was interested in an early BDR (number around 200 - 210), a series III Jag E-type w/ V12 and a Lotus Esprit Turbo.

I spoke to James Yales on the BDR value. He said since it was an older car, had fake 15" knockoffs and the 342 engine (advertised as 275 hp) and a T5 tranny, the value was around $35K if it was in good shape. That meant a final bid price of $32K - $33K since there is an 8% premium. It was blue and white, which is the color scheme I want. After looking at the car, it needed to be repainted, new windshield, all bright work reworked, along with other work totaling $8K - $10K. I reset my bid price to $27K max.

The Jag was solid but I really want a Series II and I didn't like the color. Based on the condition and everything else, I set my final bid price at $50K.

The owner of the Lotus disappeared during the auction so I couldn't get any information on the engine. The body was straight but needed a respray. I will have to bid this one at the low end of the value or $10K - $11K.

First up was a FFR with a bored out 302 (can't remember the final displacement). The body and paint looked good but us was a very dark metallic color (maroon?) without a strip. The build looked cheap (low end autozone gauges and other components) I didn't spend a lot of time looking at it since I wasn't interest. The guy in front of me bought it with a final bid of $54K! I felt that was pricey for that build. He then bought the next car up, a 1967 Corvette coup for $70K which was way over market (others were selling in the 40's and 50's).

Finally the BDR comes up and I think the guys that really looked at it discounted the price for the condition. The bidding stalled at $23K and I thought I had this one in the bag. The auctioneer then started talking up the car, comparing it to the FFR that just sold for $54K and I think it woke up some of the well lubricated guys that thought there was a bargain to be had. I will admit, from 50', the car looked great. The bidding picked up again and I was out at $27K. It continued to creep up until it hit a final price of $34K.

Three cars later came the Jag. It start low and I bailed at $50K with the car hitting $84K.

Finally, there was the Lotus. Bidding started at $5K, stalled at $8K then continued up to $12K. If the engine (and turbos) was in great shape, this was a deal but I wasn't going to risk a high dollar rebuild if it wasn't.

My wife texted me half way through the auction and asked if I was having fun...I told her, SURE, and I had bought two cars. After receiving a couple of texts back saying TWO??!!, I fessed up and said I hadn't bought anything, yet.

Overall, the auction was fun but I went home empty handed.

[DrivinWest]

Originally Posted by GT11

BDR, Unique, ERA and Superformance

I'd throw an IRS equipped Hurricane on to that list. They're the most Cobra-looking Cobras that aren't CSXs or ERAs. There is a sizable Hurricane population in Texas. I believe HM-1006 is still in Houston (it used to live in Cypress) and very much worth taking a look at to see how nice Hurricanes are (but it is not IRS equipped unless the new owner has upgraded it).

Here's HM-1006:

[GT11]

DrivinWest, thanks. I looked at the Hurricane and since the IRS was an option, it didn't make the list but I will keep an eye out if one pops up with the option.

The next auction is coming up (Worldwide Auctioneers) but I will be tied up that weekend. I may send someone to bid in my place but think things will be pricey. They have a couple of cars that are one my list:

Beck Porsche 550 Spyder
Ferrari 246GTS Dino (restored and perfect, will be way more than I want to spend)
Jaguar E-Type, 1972, Series 3, Brown, looks to be in very good shape and will be more than I want to spend, has my least favorite color and is not a series II
2000 Superformance Cobra Replica with a 460, a little older than I would like, so only lukewarm interest.

[DrivinWest]

Originally Posted by GT11

2000 Superformance Cobra Replica with a 460, a little older than I would like, so only lukewarm interest.

I'm very curios to see where the bidding on this SPF ends up. The "ESTIMATE: $60,000 - $ 70,000" from the site is about $20K optimistic in my mind. With a 427 maybe, but not a 460.

[GT11]

Originally Posted by DrivinWest

I'm very curios to see where the bidding on this SPF ends up. The "ESTIMATE: $60,000 - $ 70,000" from the site is about $20K optimistic in my mind. With a 427 maybe, but not a 460.

My thoughts exactly on the SPF. They may be low or spot on with the Jag, high on the 246GTS and high on the 550.

Are you going to the auction?

BTW, I forgot to mention. The blue/white FFR with the 460 sold for 47k. It was much nicer than the other FFR that sold for 54k.

[GT11]

Still looking. I make the rounds between Craigslist, Autotrader Classics, Ebay, Cobra Country and a few other sites. After a while you see the same cars that have been for sale for a year. Here is a hint, it only takes a week or two to sell a car or boat in this price range. If it takes longer, there is a problem.

I have found a car locally with IRS & a 408 stroker but I don't know much else about it. I am waiting on the owner to call me back. Hint number two, if you have something for sale, return phone calls when someone inquires about it. Selling is a job and it you treat it like a job, you will get good results.

I did see as E type Jag that was practically identical to the one I bid on at Mecum. It was in great shape and recently serviced with an asking price $69K. The one at Mecum needed much work for $84K plus the 8% premium and I stopped at $50K. That helps validate the craziness of the auction prices that weekend.

[GT11]

The guy finally called back about the IRS car and since it is better to say nothing if you can't say something nice about someone.....nothing. They guy couldn't tell me the year of the car, who made it, he thought it was a Backdraft (which I could tell it wasn't) and finally accused me of being a tire kicker when I told him I needed to know the manufacturer before I would know if I was serious or not. Thanks to the great guys on this board (and my "Help me identify this replica thread"), we decided it is probably an older Shell Valley Kit. Thanks guys for the help!

I went to a car show this weekend and spoke to a retired airline pilot that had a really tricked out BDR. He was a past SPF owner too so I spent an hour with him going through the pros and cons on the two cars. He also gave me some good local contacts that could help in my search. That is the fun part of this search....meeting new people and talking about your (and their) passion with them.

[750hp]

Interesting thread. You're clearly not a tire kicker and are pretty clear on what you want, so I'll follow along with interest to see what you end up buying.
Just for a laugh, you could throw something like an Austin Healey 3000 into the mix.

Good luck with the search!

[GT11]

750hp, actually the Cobra is first on the list but yes, an Austin Healey would get my blood pumping too. The only problem is, as we get older, we remember when we passed on those cars years ago when they were cheap and it is hard to swallow the appreciation in price now! Plus after having a lot of the older Euro cars, they handle great but don't have a lot of power. After going through the twin turbo BMW lately, I now have a need for speed!

Back in my undergrad days, I wanted a nice European convertible and found a 1975 Alfa Romeo Spider and an Austin Healey. The AH had a little water in the oil but was perfect otherwise. I bought the Alfa for $2800 and a friend picked up the AH for $600. The water in the oil turned out to be a head gasket and he ended up with a heck of a deal. The Alfa ended up with water in the oil later and I had to change that head gasket after all too.

I also remember driving by a car lot everyday and they had a Pantera for sale for $4000 and they couldn't sell it!

[GT11]

I wasn't able to attend this auction because I was in Napa having way too much wine, but the results were posted today. Here were the cars that I could have been interested in, along with the prices:

Auction: Worldwide Auctioneers, Montgomery, Tx

1955 Beck-Porsche 550 RS Spyder $38,500 - This is one on my list and would have had to flip a coin to see if I would have bid past this number.

1972 Ferrari Dino 246 GTS $407,000 - I knew this one would exceed what I would pay, it was restored and perfect in every way.

1974 Jaguar XKE Roadster $79,750 - The color was my least favorite, brown, the car was perfect and still sold for less than the one at Mecum that needed a lot of work.

1959 Mercedes Benz 190SL Roadster $115,500 - Don't think I would have quite gone that high but a beautiful car.

1968 Porsche 911 Targa $12,000 - This one would have come home with me at that price.

2000 Superformance Mark III Cobra $46,200 - Would have been close on this one too.

Biggest "What Were You Thinking" car - 1988 Porsche 924S $23,100 - must have been the one guy in the world that thought that was the car for him, even beat the 928S ($19,800)

[DrivinWest]

Originally Posted by GT11

1968 Porsche 911 Targa $12,000 - This one would have come home with me at that price.

What the!? What condition was it in?

[GT11]

I only saw the picture but looked good in the picture. Worldwide typically has pretty nice stuff.

[DWRAT]

Good luck on your search.
Sometimes the best cars are the ones not really for sale.
I found my SPF from a guy that had 2 of them and could only drive 1 at a time.
I would personally highly recommend a SPF and be willing to pay fair money for the right car.
Most deals are on problem cars, in the long run it costs you way more.
Dan

[mdross1]

The search is a big part of the experience you will get to meet a lot of interesting people. Some will become life long friends. No matter what you end up with for a car make it what you want enjoy it to the fullest. There will always be critics ignore most but some have things to say you might find useful.

[GT11]

DWRAT, you are right, the best are sometimes not for sale. I have reached out to a couple of people that are very plugged in to the cobra scene to help me locate a car. I also offered a finders fee if they refer me to a car I buy.

Mdrossi, the chase is half the fun. People love to help and talk about their passion. When it also happens to be your passion, it makes for a good time.

[GT11]

A lot of people PM instead of replying to the thread and one of the questions I get is "have you spent time riding in/driving everything on your list?" When I say I haven't, the follow up is directed at the fact that the Cobra will be a much different car to drive from a comfort standpoint. Since I don't feel like searching much this morning, I thought I would give a little background that got me to this point.

First, my undergrad degree is engineering and I got there like a lot of the other engineers. We grew up tinkering, taking apart the lawn mower then cars when old enough. I restored a few cars and have always loved cars in general. Probably like the rest of you, something always pushes you to a specific genre related to your interest. Being the technical type, I was always intrigued by the technical complexity of the European cars and the engineering that went into them.

I probably started like everyone else with US steel. My first vehicle was a 1970 Ford truck that I rebuilt, then restored a 1953 Ford truck, followed by a 1970 Camaro. Everything had solid axles, leaf springs and ran well in a straight line. A neighbor introduced me to his Fiat X1/9 and his Porsche 911 and I have to say, I was hooked. They didn't have a lot of power but they handled like a dream and would stop on a dime. They were a blast to drive on winding, hilly roads.

My first European car was a 1975 Alfa Romeo Spider. It had a 2.0L engine, four wheel disc brakes, mechanical fuel injection and four wheel independent suspension. I was in college at the time and the car was a blast. You didn't really have a need to go fast but taking a date for a long drive on river road at night with the top down was beyond description. The little double overhead cam two liter engine would purr through the night and the car would sway through the sharp turns as the road followed the river. I developed a deep appreciation for the driving experience during that time.

After the Alfa, I had a 240 Volvo Sedan and was impressed with the performance of what was really a family car. After the Volvo, I went into my dark years....specifically power from the dark side with Lucas electrics. I had several Triumphs, two TR7's, a Spitfire, a GT6 and two Bonneville motorcycles, follow up with a Maserati then finally a couple of Porsche's. I made my way back to an Alfa Spider, then a Volvo XC90, Audi A6, a BMW 328, X3.5 and finally my ML350. I probably missed a few in there but you get the picture.

There was another side of my car experience that may seem out of place with the above mentioned cars. I love certain 4x4's. I always have an SUV as my primary vehicle but I also have them as toys. I had a couple of full size Ford Bronco's. They are such brutes and a blast to drive. My real 4x4 passion is Jeep Wranglers. I am on my 7th Wrangler and currently have one as my fun weekend car. I don't know why I have such a fondness for the Jeep. It is rough and tippy with so so performance, etc. but when I climb in a Jeep and head for the hills, the world just seems to be at peace.

That brings us to today. The last sports car I had was a Porsche Boxster. The Boxster is a great handling car but leaves a lot to be desired in the power department. That would have been OK if I didn't buy the BMW X3.5 a few vehicles back. The X3.5 had a twin turbo 3.0L engine with a 0-60 time of 5.5 sec which is not bad for an SUV. Let's just say the power corrupted me!

I knew I wanted a lot of power but wanted the handling of the European suspension. I also wanted something that was somewhat reliable and was pleasing to look at. In my first or second post, I listed a few that made the short list and the Cobra is at the top. BDR is at the top of the cobra list because it will give me the power of the 427 and the suspension of the BMW. I guess I have become very partial to German engineering after spending a lot of time running a company there.

So for now, the search continues. I may pull the Jeep out of the garage today and head for the hills if the weather allows. I may also swing by and see James Yale on the way back. The search has been fun but I know the catch will be even more fun.

[DWRAT]

Originally Posted by GT11

The X3.5 had a twin turbo 3.0L engine with a 0-60 time of 5.5 sec which is not bad for an SUV. Let's just say the power corrupted me!

The wife had the same motor in half the car, a 135i with a DCT and launch control which really couldn't control the motor all that well.
I agree that power is fun and the suspension is great.
When I got my last Cobra I was looking for a BRD or SPF only.
I figured if I got the BDR I would still want to upgrade to a SPF so I really narrowed the search down to SPF and couldn't be happier.

[Three Peaks]

I know you're probably getting a lot of advice behind the scenes, but try to understand that these cars aren't for everyone. You may very well find it is the perfect car for you, but, until you drive one you really won't know for sure- as many of the previous owners have found out the hard way after spending lots of money and countless hours building or searching for one.
They have lots of power and handle wonderfully, once set up properly. But Cobras are, by nature, small and cramped inside, have few amenities, and the sidepipes are loud enough in your ear you probably won't be able to carry a conversation with your wife while driving. (for some of us that would be blessing) These aren't like any "European" car you've ever driven, I'm quite sure.
Some Cobras are more cramped than others, which is why some guys suggest driving a few before you decide. Hopefully, you are not only looking for cars with your short list of requirements, but also take the time to sit in a few (drive if at all possible) and see how they fit you and feel when driving hard. You don't actually get into a Cobra as much as you put it on like a suit. Then, there is the inevitable 2-4 minutes of buckling up the harnesses and making sure you (and your passenger) are strapped in tight. Then, you have to watch for the sidepipes so you don't get a "snake bite" on your leg as you get out of the car with hot pipes. You'll have to park it somewhere you can watch it so the hordes of admiring people don't lean against it, scratch it, or let their kids stand on the sidepipes or sit in your car. (everyone here who owns one has had all these things and more happen).

Good luck in your search. Hope you find the exactly what you are looking for. I'm looking forward to see what you finally come up with.

Bob

[GT11]

Bob, I think the Cobra will be like every Euro car I have driven! Here are a few of the similarities:

1) Loud (the Alfa was the loudest production car made in the 70's according to Car and Driver)
2) Cramped
3) Impractical
4) Stiff/rough
5) Feels like your rear is dragging the ground
6) You have to crawl in and out of it
7) You feel like you have been beat up after driving it a distance.
8) Unique
9) Attention grabber
10) Just about the most fun you can have with your clothes on!

One thing to keep in mind is that I am 6'3", so I have ruled out several cars because of size. I also have some time scheduled in a BDR soon.

The bottom line on the Cobra is, I've always wanted one. It will bring a smile to my face when I see it in the garage. It will be fun to drive. When it is no longer fun, I will sell it and move on to something else. Between cars and motorcycles I have gone through 50 vehicles in my life. I can't wait for 51!