The Cobra market is full !!!!

[mrmustang]

Originally Posted by Great Asp

"Resale Red" no longer the gold standard?

(coming from a guy with a Royal Blue with white stripes)...LOL

E

Apparently not, check my sig line



Bill S.

[1985 CCX]

I agree that some areas of the market is saturated and the economy is soft. It seems like there is a huge selection of SPF, FFR and even CSX4000 and 6000 cars out there. Of course there is as they are factory built and the factory does not stop producing as overhead needs to be covered. If you look at other companies like Bolus, Sagebrush, Panel Craft, HiTech, Acton Custom, HRE and Ross Henry's new FIA direction there seems to be alot of interest.

A friend of mine came by a few months ago and asked about a car which he bought, an EM. I told him that he needs to define his taste in these cars before he buy's.
1) Purest
2) Just want a Cobra
3) Hot rodder looking for crazy build

He quickly stated "Just want a Cobra" well that market is saturated..... This type of buyer will be happy with "a Cobra", that is great and it leaves a wide range of choices at all kinds of $ing. The pureest finds less on the market and when one reaches the market they usually move. That said the purest also is specific, myself I like the slabside cars. That is very limiting since there are few to be had and when you add the competition package there are very few in existance.

Of course there are a host of other considerations like color, int color, overall quality, frame, suspension and motor. A well done accurate car with the right/correct appointments is really not all that plentiful. If you take a bright blue ERA 427 car add yellow stripes and give it a tan interior with a great SB it may not move. Take a Panel Craft aluminum car with traditional Guardsman blue, blk int, Smiths, Lucas lighting, OEM accessories and a 427 SO and you will probably not sit on it too long. At least that is my opinion.......

There are a ton of cars available however when you become specific to your model and keep $ing in range with the market you will find success. Do something to set your car apart from the masses, it will do wonders........

[Dynamic]

There is a buyer for everything at the right price. The economy has been hitting the cobra market quite hard for almost 2 years now. I was exporting a lot of cobra's last year to Europe, but when things started going south in Greece even that market dried up. Unless you are buying an extremely rare, vintage car you need to accept that a car will always have a level of depreciation.

I always found that the cobra buyer was someone who did a serious amount of research, saved their money knowing they were buying a toy, and had extra investment money or retirement funds in which to make the purchase with. Now I feel there are other elements at play.
The guys that always wanted one either have one, can't afford to buy one, or they are currently buying other assets that have taken a beating but are sure to return more than a Cobra. The demographic is also getting older and the ability to pay $55 - 60K for a replica is becoming more unreachable as retirement is coming. Let's face it, Cobra owners take care of their cars, so why buy new at $60k when you can find a pre-owned car with less that 4k miles for @ $20k less?
I cannot tell you how many guys I see at hot-rod shows tooling around in mobility scooters that cannot even get into a Cobra, and the younger demographic likes modern looks and performance. I have sold quite a few Cobra's to guys under 50, but most car guys will take the $40k they can spend on a used Cobra and buy a nice 911, Viper, Lotus or other specialty car. Hell, you can get a used Ferrari 360 Modena for @ $75k now!

[madmaxx]

Excellent read Dynamic!!! The only reason to buy a Cobra over a 911 is the fact I can still work on a Cobra. You go to a Porche dealership and you will be lucky to walk out under $1K. My buddies 545i just got a $1400 alternator replacement. 5 months earlier it was a $1800 air bag sensor that would not allow the car to start. As we all know you can get a chromed powermaster for a cobra for $140.00 LOL!!!

Another reason insurance runs $400/year on the Cobra, my last Miata was $1000 per year. Obviously Cobra are toy cars the others you can drive every day but then again it would not be a toy car. I get tons of compliments, but you are right the age group is getting older. As far as production I doubt know of many Cobra manufactures slinging replicas out, they have cut production like everyone else so eventually demand will catch up with supply.

In the end I know if anyone with a SPF puts it up for sale with a 392 or higher for $30K you will get $30K. So absolute worst case scenerio to own a cobra is $30K, an experience no other car can duplicate.

I have always said if you cant pay cash you dont own it, be it boats, cars, houses, etc.

[madmaxx]

Just to clarify my math if you buy a $60K spf you will always be able to sell for $30K, realistically $45K but either way we are not talking life changing sums of money and in the end you have to live life sometime.

Good time to buy apple stock today. Make up for the $29K I have lost on GE, wow, was that a fun investment.

[patrickt]

Originally Posted by Dynamic

I cannot tell you how many guys I see at hot-rod shows tooling around in mobility scooters that cannot even get into a Cobra, and the younger demographic likes modern looks and performance.

I agree 100%. Plus, unless you're lucky, these cars require a good bit of "basic maintenance" that a lot of us took for granted when we were growing up. I don't see those skills anymore with today's high school boys. In fact, I would bet that if you went to your local high school 99% of the senior boys there could not change the spark plugs or change the oil in the car they drive.

[madmaxx]

Geez, they would have no chance of adjusting your flat tappet valves in your ERA, Hate to break it to you but many of the idiots at so called "garages" cannot do it either. I was chasing a stupid problem I created with breaking a spark plug and every mechanic, timing off, oh, its not bad you can drive it like that, oh, i can set the timing where you will not notice, let me mess with the carburator. Get the fuk away from it, none of those items were manipulated with prior to the problem how the fuk could they be causing it. In the end it was $1.99 spark plug. My biggest fear in life is allowing someone to work on any of my cars!!




I see alot of guys still in the 5.0l market but they just dont have the $$$$$, life is a biatch when you are poor.

Originally Posted by patrickt

I agree 100%. Plus, unless you're lucky, these cars require a good bit of "basic maintenance" that a lot of us took for granted when we were growing up. I don't see those skills anymore with today's high school boys. In fact, I would bet that if you went to your local high school 99% of the senior boys there could not change the spark plugs or change the oil in the car they drive.

[patrickt]

If you: Change the Cap & Rotor, Points & Condensor (if they still got 'em) Plug Wires, Spark Plugs, and blow the carburetor out with cleaner and compressed air you will cure 98% of old engine ills and you won't have made any real changes to the engine at all. At a car show last year I pulled in next to a young Asian kid that had a highly modified Japanese car. He had clearly spent some significant money on it and it was kind of cool to have his new-fangled engine right next to mine. After I complimented him on what appeared to be a pretty complicated Turbo charger set up he took a gander inside my Turkey Pan, pointed, and said "that's a carburetor, right? Cool."

[RodKnock]

Originally Posted by patrickt

After I complimented him on what appeared to be a pretty complicated Turbo charger set up he took a gander inside my Turkey Pan, pointed, and said "that's a carburetor, right? Cool."

I'm sure he would have spelled "carberater" correctly too.

There's a very similar thread over on the GT40's Forum, but obviously about the current state of the GT40's market:

http://www.gt40s.com/forum/all-gt40/...40-market.html

BTW, I opened up and skimmed my new issue of Hemmings last night and I saw a 2001 Ferrari 360 Spyder 6-speed and silver with 15,000 miles asking $87,000. To me, that's unbelievable. It almost makes you blind to the fact that tuneups are $5,000-$10,000.

[patrickt]

Originally Posted by RodKnock

There's a very similar thread over on the GT40's Forum, but obviously about the current state of the GT40's market:

the ERA for sale at Cobra Country is/was Mark LeVea's. The interesting note, it is being sold by the administrator of the Estate of Mark LeVea.

I am hoping this does not mean Mark is no longer with us ...

Pretty bright bunch of guys over there....

[Bernica]

Originally Posted by patrickt

I agree 100%. Plus, unless you're lucky, these cars require a good bit of "basic maintenance" that a lot of us took for granted when we were growing up. I don't see those skills anymore with today's high school boys. In fact, I would bet that if you went to your local high school 99% of the senior boys there could not change the spark plugs or change the oil in the car they drive.

You're right on there!! When I went to high school in Washington State, there was a class called "Farm Shop". It was (mabe still is) a requirement for the schools to have the class due to WA being an agricultural state. We all just brought our hot rods or whatever cars we had to the class and worked on them. Learned sheet metal, welding and all the basic things you needed to know to maintain your car. Sadly, I believe those days are gone and kids these days just order whatever "pre-programmed" or "pre-engineered" parts for their car online and have someone bolt them on for them. They don't seem to have a clue about what makes the enfing run or any appreciation for the "soul" of a well built motor.....

[Ric S.]

Guys, great dialogue on the subject. Mine is a Unique Motorcars, not that that is the subject I just did not see the brand mentioned. My take here is the "state of the market" is just that; "the state of the market." We move where the economy moves us and or disposable income. I agree that the traditionalist will quickly find a car of choice. I built mine to learn the skills required to do the build, not keep the car. I also enjoyed the comments on how cobra builds are going beyond traditional to more of a personal touch. For example, mine is creamsicle orange/white stripes on 18" wheels/rims. The engine bay is stuffed full of a big block FE. Yes, it turns heads but that does not translate into cash toting buyers. The entire stance of the car is different. When I figure out the image upload aspect, I will load a photo. Back on point. I feel I may now be paying for wanting a modern hotrod look blended into the '65 cobra look. Keeping her around longer is not so bad though.

Now I would like suggestions on other marketing sources. Cobra Country is great as a dedicated cobra site. Where else; Auto Trader, Hemmings???

I have no regrets in selecting Unique or a cobra as my midlife crisis project. The key to any dilemma is patience and respecting the views and needs of others. I know out there somewhere is a very smart individual that is looking for an orange cobra dressed like a hotrod.

Regards,

Ric

[madmaxx]

I am having serious Cobra withdraw symptoms, it has rained 5 days and I am sick and tired of it, looks like another 2 or 3 days. Guess I will polish some aluminium. I have no idea what I would do without a Cobra / toy car, I would go nuts!!!!

[Sharroll Celby]

I feel I may now be paying for wanting a modern hotrod look blended into the '65 cobra look. Keeping her around longer is not so bad though.

Ric, I will bet that there is a "buyer for every car." Your Cobra is a little out of the norm for a lot of Cobra buyers, but people are generally all over the spectrum of what they like. Everything will sell, but at a price that reflects what it is worth to the buyer.

Now, if I can just find that right buyer for my '57 Ford Fairlane 500 hardtop, stock-ish 460/C6/9", 3.25 gears with Detroit Locker and a clean body/glass/trim (minimal rust), I will be a happy camper! (Asking $9500)

[Cashburn]

When was it a "sellers market"?

[patrickt]

Originally Posted by Cashburn

When was it a "sellers market"?

The day I sat down in front of Peter P.

[1985 CCX]

Good one Jay!

[RodKnock]

Originally Posted by Cashburn

When was it a "sellers market"?

When Steve Arntz introduced his Cobra on the cover of Hot Rod (or Car Craft?) about 20-25 years ago maybe?

[mrmustang]

Originally Posted by Cashburn

When was it a "sellers market"?

March 2001-August 2001



Bill S.

[marco246]

Originally Posted by Ric S.

Guys, great dialogue on the subject. Mine is a Unique Motorcars, not that that is the subject I just did not see the brand mentioned. My take here is the "state of the market" is just that; "the state of the market." We move where the economy moves us and or disposable income. I agree that the traditionalist will quickly find a car of choice. I built mine to learn the skills required to do the build, not keep the car. I also enjoyed the comments on how cobra builds are going beyond traditional to more of a personal touch. For example, mine is creamsicle orange/white stripes on 18" wheels/rims. The engine bay is stuffed full of a big block FE. Yes, it turns heads but that does not translate into cash toting buyers. The entire stance of the car is different. When I figure out the image upload aspect, I will load a photo. Back on point. I feel I may now be paying for wanting a modern hotrod look blended into the '65 cobra look. Keeping her around longer is not so bad though.

Now I would like suggestions on other marketing sources. Cobra Country is great as a dedicated cobra site. Where else; Auto Trader, Hemmings???

I have no regrets in selecting Unique or a cobra as my midlife crisis project. The key to any dilemma is patience and respecting the views and needs of others. I know out there somewhere is a very smart individual that is looking for an orange cobra dressed like a hotrod.

Regards,

Ric

Hey, Ric,

Think about advertising your Cobra in the Knoxville area. It's BIG ORANGE COUNTRY for sure.

Cheers,
Mark