The market is in a great deal of fluctuation due to several factors of late:
Economy in general is a big one! The "lower end" cars suffer a bigger hit than the "high end" cars do. Kirkhams and SAI metal body cars will STILL find buyers even in a tough market. Price may be somewhat affected.
A lower end Cobra may be difficult to sell even at $25K. With no motor and the current damage it's value is WAY low in todays market. Around $10K would be my guess? Don't know about under carriage damage!
However, it does look like an "medium" to "high grade" grade replica. True knock off wheels? Indicates someone took the extra time to get it "right". Body shape appears to be "correct". Looks like it had a "top loader" (judging by the gear shift, tranny removed of course). Again, this indicates someone "got it right". Such features usually won't be found on a "low end" car.
WHO is the manufacturer of the car determines a LOT about the price. The "name" alone carries weight. If it were an ERA (which I'm sure it is NOT) it could be worth $25K or more as it sits now!
Ernie
Thanks for reminding me G.R. "kit" edited to reflect "replica".
OH! Another big factor in the price of replicas right now is Shelbys introduction of the South Africa car as a roller at $40K. This will have an impact!