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Originally Posted by Gburg
Since they are not listed in services like Kelly Blue Book, how can the value of Cobras, GT40s or Daytona Coupes be calculated? If it is a just completed car (never titled) being sold by a owner or a dealer, I guess that it would go for about what the asking price is. How would you offer be effected by a < two year old car with low mileage? 8 year old car that has not been used for racing? I have no feel for the market.
Thanks,
Gburg
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First off, it is rather subjective, but in order to properly place a real world market value on a car, you have to look at far too many variables than I could list here. But with that said, the quality of the base kit, Fit, Finish, interior appointments, mechanicals used, engine transmission, rear end, front and rear suspension, sway bars, originality, the condition of everything from the tires, brakes, engine, transmission, interior exterior paint, and whether those parts were sourced new vs used when the car was built will all play a factor in the true value of any particular car. Of course since each car is custom built, trying to say that car "A" is valued higher than the identical car "B" just because it was built later vs earlier may come to mind. However, this is not always the case, as it is a very rare occasion that one car is built identical to the next. Again subjectively, it really boils down to what the market will bare for any given car vs the next vs what the buyer is looking for.
Now, as for what to look for when buying a used Cobra, on that subject I have written the following for the FAQ here on Club Cobra:
Editors Note:
Ok, the first thing you have to ask yourself is "how much money am I
willing to spend for a used Cobra", and what my usage is going to be.
Now, by usage, I mean a either a daily driver, weekend cruiser, show
car/trailer queen, 1/4 mile drag racer, road racer, or any combination
of the above. Once you have set your budget and have a pretty good idea
of what you want to initially spend, your next goal is to find the right
car for you. Whether your spending $22,000, or $150,000 should not
matter at this point, as I've personally seen beautiful, well built cars
at $22,000, and some truly horrible cars with over $100,000 in to the build.
Your qualifications:
Know your strengths and weaknesses when shopping for a used Cobra, if
you know bodywork, and not the mechanicals, take along someone who has a
greater mechanical ability than yourself. Vice versa if your strengths
are in the mechanical end of things, and not the cosmetics. Two sets (or
more) of eyes are always better than one.
If your going to see a cobra in person:
What to look for:
Fit: How does the body sit on the chassis, do the doors, hood, trunk all
line up?
Finish: How is the paint, are there runs, drips, sags. Does the paint
have a nice shine to it, or does it need to be buffed out or stripped
and repainted?
Interior condition: Does the interior show a lot of aging, do the seats
need to be recovered.
Mechanical: Are there any leaks or drips under the car? What about the
overall appearance, does the car look like it was well taken care of, or
does it look like it was ridden hard and abused.
Engine: Again, any leaks or fluid drips, how does it sound (this can be
tough on a car such as the Cobra). Check the engine warm, cold, at
partial throttle and at idle. Make sure to check the temperature gauge
once the car is warmed up and at idle. Also check to make sure the
thermostatically controlled fan (if so equipped) kicks in when it is
supposed to.
Transmission: Take the car out for a road test if possible (don't expect
to let the seller to allow you to drive it), does the clutch work
properly, does the transmission shift smoothly through the gears. Check
for leaks here as well.
Rear End: Does the rear end clunk, leak fluids (check behind rear rims
for signs of fluid, along with the front and rear of the differential
housing)
Suspension: Check the bushings, do they look cracked and worn out, if
so, factor in replacements to your costs. What about the shocks (coil
overs or ???), if you ask the seller to push down on each corner, watch
the rebound, if they bounce forever, then expect to replace them. If the
car is equipped with coil over shocks, set the car on an even surface
and see if the car sits level or not. if so, then the shocks do not have
to be adjusted, if not, then expect a few hours getting things right.
Brakes: If you place your hand on the front disks (do this before the
car has been driven), can you feel any grooves in the disk itself? Does
the brake pedal feel firm when your sitting in the car, what about on
the test drive, ask the seller to do at least one hard braking maneuver
so that you can tell whether the brakes are adjusted correctly for the
car. Some cars will have a combination of disks and drums, others will
have four wheel disk brakes. If set up correctly, a disk/drum set up
will work for all but the most extreme usage (IE: heavy road racing,
endurance racing, etc).
Wheels: Are the wheels balanced, bolted on, or held on with knock off's?
Bolt on wheels are a matter of personal preference, if you like what is
on the car, great, if not, factor in a replacement some time down the
road. Knock off's should be checked to make sure they are tight, if the
knock offs and safety wired on the car, that shows a level of attention
worthy of a good owner/seller....
Tires: Are the sidewalls cracked, are the DOT approved, radials or
biased ply? What about the sizing, do the fronts both match? What about
the rears?
Electrical system: Do all of the lights function, hi beams, lo beams,
turn signals, brake lights, horn, etc? What about all of the gauges, do
they read correctly?
If your buying a Cobra sight unseen:
Use the above as a reference guide as to what questions need to be
asked. If the owner is forthcoming with detailed answers, then you can
feel a little more comfortable in dealing with them. if the answers are
a little more ambiguous and vague, then perhaps the owners is trying to
hide something, or does not really have any mechanical ability or
qualifications to answer the questions above..If this is the case, and
your still interested in the car, pay to have the car professionally
looked at by a qualified inspection service.
In closing, most of the above is all based on common sense. Don't let
your emotions get involved in the decision whether to purchase one car
or another. Also don't let other so called "experts" sway you to this
brand or that, after all, it's your money, not theirs that your planning
to spend..Finally, if you need assistance, or don't understand something
fully, feel free to ask questions.
Hope you find this helpful.
Sincerely,
Bill S.