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Tom,
Congrats on looking for your first Cobra. My suggestion to you would be to look at LOTS of Cobras and learn as much about them as you can or want to. Decide what you are looking for in a car. I have not seen the car listed on ebay, but you can find a very nice Cobra that has very desireable features for half of that original price.
If you search this site you will see that there are a couple of really nice looking ERA's for sale at fairly high prices, but less much less than the ebay price, that have not sold yet. I don't know much anything more about them but the description given, but they have not sold yet for whatever reason.
Searching through this site and doing your Cobra homework you will be able to build a picture of what the market is for each brand, make and options. Not easy, but possible.
Good luck on your search. The more you learn up front the more satisfied you will be with your purchase.
Jamie
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