Cobras at Barrett-Jackson Palm Beach

Pander · #1 (**permalink**) 04-08-2008, 12:44 AM

Ok guys I know about Barrett-Jackson and some of the controversy over the cars but did anyone look at what the Cobras did at Palm Beach? No real ones, but I thought some good buys (ok, one good buy) and good money for others. 1st and only great buy; Kirkham with a 427 for $55,000 (lot 376). An FFR went for $56k (lot 404.1). Really good for a FFR considering I have a real nice for sale and can't even get $35k for mine (check out the British racing green one for sale on this sight). A Shell Valley went for $53k (lot 706) and a E-M for $51K (lot 955). Two others went for $43k (lot 627, unknown brand) and $50k (Lot 695 also unknown brand). Everyone says the market is down and for the Kirkham I would agree, but the rest on there? $56,000 for a FFR? I should of sent mine to B-J for the auction!!!!!! So guys what is your take on this? I know Barrett-Jackson is not place to determine real world prices, but it does not appear it is such a depressed market for replicas at there place.

mrmustang · #2 (**permalink**) 04-08-2008, 02:33 AM

Sorry if I ramble a bit both on and off topic as I'm working on about 2 hours sleep over the course of the last 72 hours........

The bubble has arrived, if you can hold on to yours for another year it may bounce back. As for comparing yours to any of the cars from Barrett Jackson with the mindset "well mine is almost as nice as (insert Wayne's car here for example)", sorry, but sellers have been doing that for years, sadly some (I have not seen yours so I cannot comment on it) of them do have cars that are just as nice, but most do not. They see a car selling for 100K and use the mindset above, not realizing that the owners had 110K in to the item that sold for 100K and on top of that they still had to pay a 10% sellers commission, so they LOST MONEY!!!! I say this as someone who has been at these major specialty auction since 1994, both as a buyer, seller, or buyer/sellers assistant/agent.......Anyone who uses Barrett Jackson or any other specialty car auction as the new "market set" is sadly wrong, as the cars that go through them are usually the cream of the crop, the top 1-2% of the show car market..........Again I do wish you well with the sale of your car, but just keep in mind, for every FFR you here hawked at 27-45K, quite a few of them are actually selling for 22-30K, but the sellers will never tell you that...Yup, been there as a buyer countless times (sorry not in the market now or any time soon), will do so again in the future..............My advice, learn German and rewrite your ad on a Germany based auto for sale site, as they seem to be the only ones paying more than 35K for a FFR at this time.......Oh yeah, your car has to be titled as a vintage (pre 73) for them to even consider buying it.

Bill S.

SoTxButler · #3 (**permalink**) 04-08-2008, 07:45 AM

Wayne Presley's car (red FFR that went for $50K ) was brand new and nice. It was a 460 with stack injection and was very nice. Wayne is working on my car right now, and while I was there, I saw the red car. The Kirkham, according to Wayne was VERY rough. The FFR that brought $56 was a supercharged 302 and while it was nice, it just found the right guy fairly early in the auction who wanted a blown small block.

I agree, the market is flooded right now and you should hold on for a while if you can.

Mastiff107 · #4 (**permalink**) 04-08-2008, 08:29 AM

I don't ever see the market getting any better. The Cobra market tracks the motorcycle market. It's amazing how many folks have both Cobras and bikes. Both are somewhat impractical and bunches of fun (If you can bamboozle the wife into one she will fall for the other). As with the motorcycle market, there is a limited target audience. There are a lot of folks constructing two or more Cobras and not that many new purchasers. The kit motorcycles fell like rocks in prices and have not recovered in the past 2 years, nor will they. There will always be some market for limited production high end examples but "kits" built by hobbyists as opposed to "rollers" are flooding the market (West Coast Choppers as opposed to Big Bear Choppers) and prices are reacting accordingly to supply and demand. Since I have spent my childrens inherritance on a Cobra, a bike and a boat I have advised my children to find good jobs.

madmaxx · #5 (**permalink**) 04-08-2008, 11:15 AM

Geez,

I am confused I know of a dealer in Houston which sold a new SPF with non-polished Roush 427r for 72K, I know of a similiar car with polised engine and 2800 miles went for 68k from individual. A guy just sold a SPF on cobra country (below market value) in my opionion and he was asking $57,900 in three days. Three spf in a month, different colors but all same engine. In the south the cobra market is strong from what i see.

mrmustang · #6 (**permalink**) 04-08-2008, 11:19 AM

Quote:

Originally Posted by madmaxx

Geez,

I am confused I know of a dealer in Houston which sold a new SPF with non-polished Roush 427r for 72K, I know of a similiar car with polised engine and 2800 miles went for 68k from individual. A guy just sold a SPF on cobra country (below market value) in my opionion and he was asking $57,900 in three days. Three spf in a month, different colors but all same engine. In the south the cobra market is strong from what i see.

Not compared with the cost to build each one (minus the dealer who just found the right buyer for the right car).

Bill S.

Pander · #7 (**permalink**) 04-10-2008, 05:08 PM

Madmaxx, I bet the guys who sold the cars broke even but I dont think they made any money. The Cobra market is not strong anywhere right now because of the economy because people dont have disposable income to buy toys and I agree with Bill S. Wayne's FFR was nice but I say; THESE CARS ARE NOT INVESTMENTS!!!!!!!!!!! They are toys to enjoy and show off. I also agree that B-J is no place to determine the "market value". FFR gets a bad rap from the home built ones that sell for 20-30's and need work after bought to make them what the buyer wants. I would stack up a professionaly built FFR against any SPF or Back Draft anyday. SPF's are getting to be the "Chevys" of the replica car market (don't mean to offend any SPF owners, I happen to like them). Carrol Shelby attached his name to them because he knew he could not beat everyone that was building his "car", ooops I mean an A/C Bristol that Carrol bought, stole or barrowed (pick your own adjective). The only car that matches the "original" is the FFR with it "body over chassis" design. Not even the 4000 continuation series has that, they are "fiberglass" tub cars just like SPF's and Back Drafts, but I will admit from the exterior they do closely resemble the "originals". I think the bottom line, pay over $40,000 for any of these cars and you will loose money for a long time to come, it just depends how bad of a beating you want to take, me I am willing (reluctently) to take a $18,000 or more beating. Of course you can't build one for that price or my asking price of $39,000, LOL.....