Sports Car Market on Cobras--Real and Imagined

Cal Metal · #1 (**permalink**) 02-04-2003, 09:07 PM

Interesting piece in SCM on Cobras.

khall · #2 (**permalink**) 02-05-2003, 04:47 PM

Yes, Mr Anderson gives cobra replica owners a bit more slack than SCM usually does. I have been wondering, lately, why the real cobras have been holding their valuations so well while other classics of the same era have been dropping with the economy. For example, The Mathews Collection has been listing a 1971 McLaren M8D for $180k while unrestored 289s have collected more recently. And some real bargains in 12cyl Ferraris. I'm not complaining mind you. But it would be nice to think that a guy could still find a unrestored 289 for under $100k.

Keith

Cal Metal · #3 (**permalink**) 02-05-2003, 05:00 PM

A lot of it probably has to do with identity and driveability. Bob McKee has a Can Am car that has been for sale forever. His stuff is pretty historic and he was a real pioneer. The last time I saw it the price was around $60K. Super cheap. the car has a bullet proof Oldsmobile in it (original). While the car is, no doubt, less competitive than its rivals, the price sure is right and would make for a fun car at the track (especially for an already uncompetitive driver such as myself).

The Cobra legend continues and I doubt that $100K will buy a nice street car anytime soon. Prices seem to be moving up, too.
A no excuses 289 street car is probably worth $165-$175 today.