Cobra Auction Pricing on Bring a Trailer

cycleguy55 · #1 (**permalink**) 07-23-2019, 10:59 AM

I don't know how many are aware of this, but I just ran across this for the first time. BaT posts completed auction pricing history for the last 4 years, regardless of whether successful or not. On the chart (at the link below) successful auctions (e.g. met reserve) are indicated with black dots, while unsuccessful auctions have grey dots. If you mouse over the dots you can see more information about the car (e.g. auction title, bid price, date). I haven't counted the dots, but it looks like about 40% don't meet reserve.

https://bringatrailer.com/shelby/cobra-replica/

MFE III · #2 (**permalink**) 07-23-2019, 11:57 AM

Interesting. I cruise BaT occasionally, but I didn't k now it had that capability.
Thanks for sharing

rads42 · #3 (**permalink**) 07-23-2019, 12:30 PM

I don't know why but the ones that do sell don't bring the money they should (in my opinion).

Dewey McBride · #4 (**permalink**) 07-23-2019, 12:56 PM

It's not really surprising. There are so many different types of builds that there is a false perception of what the pricing is. An older home built can go for $25-30k because it was a donor build and the quality can really vary a lot. This brings down the entire market. I purchased a VERY nicely equipped Factory Five MK4 with power brake, power steering, DOHC engine, and too many upgrades to list. I ended up paying exactly what the builder had into it. The one thing that did not get factored into the price is the labor and any profit. When a Backdraft or Superformance comes up for sale, how can they explain the extra $30k they are asking? Saying it's "Factory Built" is rarely going to get a buyer to throw down extra $$. You need a buyer that understands the difference in brands. Most that I've talked to don't. I've seen some pretty sketchy home builds but I've also seen some that would put any Backdraft of Superformance to shame. It's really about finding the right buyer for the car. I would be very hesitant to buy a home built at an auction, Backdraft and Superformance give a little more piece of mind but they all look the same.

HI Cobra · #5 (**permalink**) 07-23-2019, 01:03 PM

Thanks for sharing. I just scrolled down and saw a bunch listed with pictures, info and dates of auction. They were listed with either sell price or top bid price
(but I am guessing they didn't make it to reserve and never sold). I scrolled
down further and there was the chart with the dots - I think the sold ones were
black and unsold grey. Noticed the Kirkham that went for $108+k which did seem cheap. Maybe the fact that the original owner tracked it for a number of years and had the engine rebuilt for pump gas to sell it had something to do with it. It did have a '66 SO which should have helped with the price. Looks like someone got lucky.

Mark IV · #6 (**permalink**) 07-23-2019, 02:39 PM

Quote:

Originally Posted by Dewey McBride

It's not really surprising. There are so many different types of builds that there is a false perception of what the pricing is. An older home built can go for $25-30k because it was a donor build and the quality can really vary a lot. This brings down the entire market. I purchased a VERY nicely equipped Factory Five MK4 with power brake, power steering, DOHC engine, and too many upgrades to list. I ended up paying exactly what the builder had into it. The one thing that did not get factored into the price is the labor and any profit. When a Backdraft or Superformance comes up for sale, how can they explain the extra $30k they are asking? Saying it's "Factory Built" is rarely going to get a buyer to throw down extra $$. You need a buyer that understands the difference in brands. Most that I've talked to don't. I've seen some pretty sketchy home builds but I've also seen some that would put any Backdraft of Superformance to shame. It's really about finding the right buyer for the car. I would be very hesitant to buy a home built at an auction, Backdraft and Superformance give a little more piece of mind but they all look the same.

I agree. As a Superformance dealer we sell a "known quality" of product. With some kits you are at the mercy of the builder as to the quality and workmanship. I totally agree that I have seen some fabulous Factory Five cars; well built and engineered and they stand with most any replica. When I am asked to compare an F5 with an SPF I say you can't; it is not the brand but the build that counts. I have also seen an F5 that I wouldn't ride across the parking lot in! We had one come for service that the builder installed the upper control arms upside down! And we have seen SPF (and other makes) cars that had very low miles.....why? Because they didn't work! Poor installation/build-out meant they didn't drive/run properly so thus "low miles"

Again, not the brand, it's the build.

saki302 · #7 (**permalink**) 07-23-2019, 08:29 PM

My old FFR was built by a pro builder. The SPF still feels far more solid. Just closing a door shows a big difference.

The paint was excellent on that FF though. Candy apple red w red ghost stripe, beautiful, but the paint would show swirls if you looked at it sideways ��

Dewey McBride · #8 (**permalink**) 07-24-2019, 09:10 AM

Quote:

Originally Posted by saki302

My old FFR was built by a pro builder. The SPF still feels far more solid. Just closing a door shows a big difference.

The paint was excellent on that FF though. Candy apple red w red ghost stripe, beautiful, but the paint would show swirls if you looked at it sideways ��

Have you ridden in a MK4? The guys in the Bay Area Cobra Club were blown away at how far Factory Five has come over the years. Nearly every type of replica is represented in the club. Honestly, I sit in all of them and there is not a difference that I can tell from a Factory Five, Shelby Continuation, and SPF. BDR feels a bit different because it's a little bigger but also the same quality feel as mine. They all have their own tag lines "Built Not Bought", "Factory Made", "Shelby Authorized", "In the Shelby Registry", "Aluminum Bodies Built by AC in the 80's". Everyone wants their car to be special and better than the others. That's the marketing that helps the resale value. Long and short of it is, if it wasn't built in the 60's then it's a reproduction (a copy of the real thing). Good thing too because I drive the snot out of my car and I wouldn't do it if it was an original.

saki302 · #9 (**permalink**) 07-24-2019, 12:43 PM

I have not sat in a mk4. Mine was a mk3. The doors had a hollow light pop on closing vs the nice thud my SPF makes.

I ended up selling it because it would have cost too much to get to where I wanted with it (3 link to IRS, 351 to 427 motor, power steering delete, etc).

I did like the tube frame vs the spf box frame. Not that it's something you would normally stare at ��

My SPf was perfect for me. I can't afford a pristine 2000 mile example, this one had some miles on it and needed some work (which is almost complete). Paint has chips up front too, so I can just go and drive it ��

I'll say the handling on my FFR was better (after swaybars) until I did the cobra valley suspension upgrades on the SPF. With the upgrades it's a totally different car.

Did the FFRs normally come without swaybars? My mk3 originally had none, and hard cornering transitions were spooky. Felt like a go kart after swaybars ��