Sorting Out Used Cobra's
 

Is there any rule of thumb when one is sorting through all the available Cobra's on the market.

Specifically, let's say the body is from one of the top three (EM, Super, ERA). It appears that the engine installed is a really big factor with a 427 side oiler at the top of the list, 428 FE second and a whole bunch of 351 engines available but not bringing top dollar.

Do Cobra owners install 351 and other engines only because they cost less? Why would a Cobra owner install, for example, a Cheve engine is a Cobra? If you are a big block fan, is the dream really to own a Cobra with a 427 side oiler, but that dream may be way too expensive, so you settle for less?

In other words, what are the ideal Cobra elements within the big block group? What Cobra elements would be best to "own" when you want to sell? I'm so surprised at the level of Cobra availability, it's a little scary in that there must be 200 Cobra's on the market at this time - what is going on?

By the way, I'm a potential buyer and this is research.

Some guys build a car around a motor thay allready have, or just like one they used to have. Say you had a screaming clevelend back in the 70's and you want that again, but this time in a cobra body. Windsors are popular because they have great selection of hi-perf parts available for them, you can build more power for less cash in a windsor than any other ford motor. Any they weigh less too. The biggest factor on resale is not the motor, but the chassis/body manufacturer.

Yes, the 427S.O. IS the reigning most sought after engine, next is the 428 and then 351. From what I have been told the best for the track is the 302 built, due to the balance of the car. I am in the process of building a Hi-Tech and would love to have a 427SO but for the money I'll have to go for a 428. Shelby, Kerkham, Hi-tech, ERA are the tops. My .02 I am not an expert just going on what I have learned from some knowleable people.
P.S. It seems that I may also be in the market again since my Hi-Tech is theoretically going to Japan. I'll know more after the checks in the bank 4/26/03. GOOD LUCK!
It is a buyers market right now, luckily for us. I hope to find the right car at a price the seller and myself will be happy about!

To some it is "only" a replica & the motor they use to power it is just that, "only a motor".
To me personally, I feel that these cars are more of a tribute to the legacy & prefer to match the correct motor with the correct car. & with that I also feel it is a persons preference to do as they please but often wonder why someone would spend the extra money on say an ERA & not just go the extra 10 yards to do it correctly. Just my opinion :D

Now that is a slant on the subject that I had not thought about. Thanks.

Neil: Thanks for the input. By the way, I'm in Kingman, AZ - just down the road from you!

I'm trying to fully understand the physiology of the market. For example, Bandit 1 has a very nice Super with a 460 "stroker" in it posted here for sale, now at $44,000, but he states that $65,000 was spent. Why would someone spend $65,000, drive the car 5K miles and sell it for 68 cents on the dollar? Also, why would someone put $65,000 in a Cobra when the extra money actually went into an engine that is not a 427 side oiler? An obvious answer is some people have a lot of money, a lot more than me.

I'm waiting until Bandit 1 gets down to 50 cents on the dollar, but on the other hand, what would it be worth if I tried to sell it?

just a guess here but I think people either want money for other projects or they realize once they have a cobra that it really isn't at all practical.

Now that is an interesting quote that I feel goes to the heart of the matter - we are dealing with something that is not real, it's fake, but there is very close to real at one end and no where near real at the other end. You can go for a reasonable Cobra "look" for $20K at this time and get almost real for in the $40K's. It appears that it's not really the history as it's not real, it's more of a really nice look and toy that is sorta real.

It is interesting that most of us cannot or do not want to pay the price that it takes to put together or buy even a good, almost real, replica. That's something like buying a 4 door, 6 cyl, versus a two door convertible V8. Why bother!

In my case I wanted a mid 11 second (with street tires) and mid 10 second (with drag radials) Big block Cobra, with Superformance's "race proven" suspension.

Right now is not a good time to be selling a "Exotic Car". With the economy so bad, there is a glut of Cobra's on the market. My car would have easily sold for $56,000.00 just a year ago. In my case, I have just started a new company and I need my money to go elsewhere at the time, because I am starting a new Cobra project (557 c.i. supercharged Big Block), I saw no reason to hold onto the car (with a $850.00 car payment). Waiting a year until the economy is "better" would just be a waste of money.

Who knows why! The joy of building it? Remember that the market will NOT always be as soft as it is right now. These cars can command a pretty good price. You really NEVER get out of a hobby what you put into it, as far as money goes, but as long as you were happy doing it at the time, THAT'S what counts. I have built many cars and really enjoy the satisfaction of "doing it my way". Bandit 1 has a very nice car and I'll buy it before you @ .51 (just kidding). I am not going to worry about resale because IF you're looking for an investment there are a lot better returns on your money BUT no fun. As I stated before if you and the seller are happy with the price ENJOY.:) :)

Hot rods, show cars, drag boats, Harley's, custom you-name-it's usually get sold for less money than it cost to build them. Cheapest way to get a hot rod is to buy a finished one. It's usually the first owner that takes a loss at the sale.

Opps! Sorry to use you as an example, but I'm just trying to understand the Cobra mentality. Anyway, I'm watching your Cobra for sale post to see if it gets down to my price range, but I'm thinking 427 side oiler is best for re-sale - nothing taken away from your car, of course.

[quote]Originally posted by vegan2


I'm trying to fully understand the physiology of the market.

possibly- PSYCHOLOGY of the market?????

If Bandit has a Superformance on the market for $44K, that sounds like a deal.... I don't think you'll get your "50cents on the dollar" price. It really doesn't sound like it's the right time for you to buy.... at least not in the Kirkham, Shelby, ERA, Superformance, Unique range....

I was at the track last weekend. Some serious racing going on, (except for me with NO car, waahhhhhh).

The Formula Ford guys were there, among others. One guy just bought a Hi-Tech Cobra with 427 SO. Now this guy IS a racer, understands the balance and handling and all the issues. He said flat out, there is NO WAY he will put the Hi-Tech on the track. To heavy, snow plow through the corners, etc. etc. But the BIG FACTOR? He figures it would hit about 160+ at the end of the straight, and thats just TO scary!!!! LOL

So why did he buy it? Heck thats easy, he always wanted a 427 SO Cobra, and now he's got one. The Formula Ford hits about 130 at the end of the straight and stops QUICK!

ME? I want a BUILT bad boy 302 or 351, I want about 400 horse. I want to look good, drive to the track and race my Cobra! I think 427 SO Cobras are the COOLEST thing in town. But I wouldn't want to race one,,,,,,,,

Value?
I'm looking to buy RIGHT NOW!!!! You got a Cobra at a WHOLESALE price, I will pay you in CASH within 24 hrs of making a deal. WHO built it and WHO supplied the kit is the FIRST question I will ask! Everything pivots on the manufacturer. Motor is secondary and adjust price accordingly. I'm looking for a certain "flash", "style". It's got to "look" good, regardless of the "parts" used.

Now, if I'm gonna buy it to "race only", ALL I care about is price, it don't even need paint!

Ernie

Many reason's go into each owners build and reason for selling--
Economics is probably the largest--if it wasn't we'd all be driving around in SAIs, Kirkhams, or ERAs with 427 SOs;)

Give you an off auto example-- 10 yrs ago We bought a off-shore cruising sailboat for 82k--put an additional 15k in it the first year we owned--sailed it for about 5 yrs--pulled it out and began a refit--put in an additional 10k over the next 3yrs in upgrades--that's an investment of 107k--sold it for 85k early this year--soft market--I still felt we did well because we enjoyed he boat --

If we sold our 2yr old SPF today We'd probably be able to get maybe in the mid 40k range and it doesn't have a 427 but to us it is an investment in the "FUN FACTOR" of life
:D

[quote]Originally posted by casaleenie

Quote:

Originally posted by vegan2 I'm trying to fully understand the physiology of the market. possibly- PSYCHOLOGY of the market????? If Bandit has a Superformance on the market for $44K, that sounds like a deal.... I don't think you'll get your "50cents on the dollar" price. It really doesn't sound like it's the right time for you to buy.... at least not in the Kirkham, Shelby, ERA, Superformance, Unique range....

It's both, as I'm0 studying living organisms and their parts with the parts being Cobra's.

As to the time to buy comment, I know of an ERA with a 428 FE in the $33K range at this time. There is a Unique at cobracountry.com for $29K (small block) and one for $35K with a 351 and another one just reduced to $35K.

So it just may be the time to buy, as it's not the time to sell.

Yup it is definitley a buyers market right now--even 1-2 yr old luxury cars are down 15-25% and more

I just ran across an NAF Cobra with a 429 - Anyone know anything about NAF (good or bad)?

NAF- North American Fiberglass--one of the early kit builders--I think they had a lot of problems financially--kits not complete when delivered, etc.--went out of business. Only saw one completed car, owner built, it had a SB and used Mustang II suspension and running gear this was in the mid/late 80's--
I remember that the body , doors, hood, trunk lid, all seemd to fit very well -- but...but I don't know much more than that about them--

Sure there are others that know far more than me about them

Where did you find the ERA? That's a good price, I would be interested in that.