A Cobra Valuation question

[Buzz]

Originally Posted by STLUCIE

Thank you. I don't mind answering the trolls because among them are folks who actually want to talk about Cobras.

Again, I am an appraiser who has been working for the original owners of CSX3145. They are pursuing a Loss of Use case. I prepared my appraisal last year and was deposed afterward. The adverse party's expert was also recently deposed. Their expert had the following notions that I will ask about for the umpteenth time. For those folks looking for some secret agenda or have a problem with my putting them in their place, why not just sit the rest of this discussion out? It has never been my intention to "eviscerate" people but when you are punched in the face for no good reason, most of us tend to punch back.

1) Regarding "historical significance", I am of the opinion that all of the 998 Cobras built fall into this category. That there is a Cobra registry accentuates that point. Is there anything to the notion that only raced Cobras have historical significance?

2) Are the non-raced 289 Cobras more desirable than the 427 Cobras?

3) The narrow-hip Cobras are rarer but are they typically less (or more) sought after?

I can't speak for others but that's enough "full disclosure" IMO. Your initial error in the assertion that Shelby actually raced in a small-block Cobra got some people smelling a rat, but to me that's just a common misconception among regular folks who are not Cobra enthusiasts. So - all the other stuff aside - did you get your answers to the questions above? In between the back and forth, I think they were pretty much addressed.

EDIT: just to conclude - here are the answers in a nutshell.

1) All Cobras are highly sought after collectible cars, but some; due to factors like racing pedigree, celebrity ownership or some other part of their history that sets them apart; are considered more "historically significant" than the regular cars.

2) No - not according to the historical market, but some enthusiasts absolutely do prefer the small-block cars.

3) This one is somewhat debatable - but generally speaking, an unmodified narrow hip street car will usually command a premium over a street roadster that has been modified to look like a comp or SC Cobra. Both will usually trade for less than a genuine, original comp or SC Cobra. Pedigree factors for example the two Supersnakes - one of which was built for Bill (the pill) Cosby or the Cobra that starred in Gumball Rally (1976) will trump the other factors - historical significance at work again.

[STLUCIE]

Originally Posted by Buzz

I can't speak for others but that's enough "full disclosure" IMO. Your initial error in the assertion that Shelby actually raced in a small-block Cobra got some people smelling a rat, but to me that's just a common misconception among regular folks who are not Cobra enthusiasts. So - all the other stuff aside - did you get your answers to the questions above? In between the back and forth, I think they were pretty much addressed.

Hi Buzz, There probably aren't definitive answers to these questions but I have gained much insight, here and elsewhere, into how collectors feel about Cobras. A raced 289 would have a little more prestige than CSX3145. A 427 is more desirable than a non-raced 289 and a narrow vs. wide hip car is a matter of preference. I also firmly believe that all Cobras are historically significant - not just those that appeared on racetracks.

[mrmustang]

Originally Posted by STLUCIE

A raced 289 would have a little more prestige than CSX3145.

Yes, see my earlier response

Originally Posted by STLUCIE

A 427 is more desirable than a non-raced 289 and a narrow vs. wide hip car is a matter of preference.

100% correct, it is a matter of personal taste, a buyers money, spent the way they want to. Just as if they were shopping for a new car and deciding what color to choose.

Originally Posted by STLUCIE

I also firmly believe that all Cobras are historically significant - not just those that appeared on racetracks.

Well, yes, and no, the more "history" a car has, the more "historically significant" it is.

IE: A car driven hard and put away broken is less valuable than a car raced, wrecked, rebuilt, and raced again.

Or

A car owned by a well known movie star being more "historically significant" than a car owned by someone without such a heritage.


Bill S.

PS: I'm surprised you did not ask these same questions on the saacforum.com site, as they deal with originals on a daily basis.

[STLUCIE]

Originally Posted by mrmustang

PS: I'm surprised you did not ask these same questions on the saacforum.com site, as they deal with originals on a daily basis.

I did. You were gracious enough to answer it there, too.