[Jack21]

Like the above, the builder didn't realistically approach building his car to his driving needs. He built a race car, and what he wanted was a street car. I've seen this a million times in all kinds of cars, and Cobras are no different. It rides like a logging truck, gets 2 MPG, overheats, and is tempermental. Driving it is a disappointment so it's for sale at a low price.

Building a Cobra really shouldn't be someones first hot rod. As much as the kit car manufacturers like to make a prospective builder think that this is a walk in the park, it isn't. If one has limited mechanical skills and automotive savvy, and experience, the builder will become overwhelmed quickly and not finish the project, or do a mediocre job. A Cobra is a good project for someone with 10 or more years of car crafting/hot rodding experience under his belt. Has built and changed engines, installed transmissions and brakes. Knows electrical wiring and automotive circuits. Has a thorough understanding of the subsystems of what makes up an automobile. It is not a project for a beginner.

In this vein, kit car manufacturers are proponents of donor car procurement from which to build ones kit. This is where the newbies get sidetracked. If you build your car with junk Mustang parts, you'll have a junk Mustang when you're finished. It performs like a junk Mustang, with associated mechanical problems. The builder becomes disenchanted and sells it.

How much originality? To what lengths does one go to duplicate the original car? Separating the myth from the reality as it applies to the builder/driver/owners needs is a tough one. Read what Shelbys' drivers had to say about original Cobras, and ask yourself, "Is this what I want"? Original cars are so expensive today because so few of them were made. There weren't many made, because they didn't sell. And originals could be had at any Ford dealer. Howcum? If they didn't sell then, why would you want one just like it today?

The Smithsonian has some perfectly restored combat aircraft of WWI, and WWII using the technology available when the airplane was built. But they are for display only, and will never be flown. The Confederate Air Force has a collection of the same vintage aircraft that are flown regularly. And the similarity is barely skin deep. Inside these things is all modern stuff.

To answer your question, why do most (not all) people sell their Cobras? In more cases than most are willing to admit, the builder either overbuilt the car (race car), or underbuilt the car (donor parts) due to lack of experience in car crafting. Tipoffs. Low price, low mileage, obvious donor or mismatched parts, sloppy work, and lack of knowledgible answers from the builder/owner. Or second owner who knows nothing about how the car was constructed. These cars can be bargains if the new owner plans on rebuilding the car.

Cars that were built by a knowledgible builder will be higher priced, and not a best offer deal. There is no Bluebook for these cars. It's all in the little details of the quality of the build. Try to armwrestle the guy on price, and he'll tell you to kiss off. Ask him to tell you about the car, and be prepared for a lengthly disertation on what went into the car. Who did the engine, who did the paint, special features and upgrades, how the car performs, any maintenance issues he has. The car may have higher mileage because the car is driven. And if it is driven, it is like to be fairly reliable. Then, there is the implied warantee. Granted, you have to accept the car as-is, because unless he owns a shop and does this professionally, it's impossible to offer a warantee on the car. But, although you may be buying it, it's still his baby (like marrying his daughter). Expect free lifetime tech support because he knows every nut and bolt on it.

These cars when built properly, and realistically, offer performance unobtainable from any factory built car, and are easily maintained. And don't depreciate with age.