Value of an original cobra

[A-Snake]

Originally Posted by CobraDan

Jeff,
Since the Fort Lauderdale RM auction does not take place until February 6-8, 2009 how can Bills car been sold?

They were in a different auction. Not the RM auction.

http://www.ftlauderdaleauction.com/

[CobraDan]

Thanks I see it was lot #548

[atmking]

Thank you all for the info... been away on biz and just got back to read the replies and I thank you for the help. Once again, cobra guy's help out another... what a great club!

Jeff

[Rickd]

A 289 "barn firn" was auctioned off in December - cracked leather seats, missing paint chips and all - for $around $565,000. The $500,000 - $600,000 range has to be a reasonable range for a clean car.

[cobrakidz]

I know this is an old thread, but whatever happened to CSX 2241? I have a sweatshirt from the '97 Monterey Historics and it is a csx 2241 crew shirt. Do you have any pics of that Cobra?

[PeteF]

For comparison, CSX2481 is for sale in Hemmings, under Shelby. Advertised as a one owner for $595K

[Nedsel]

Unfortunately, the history of 2481 can't provide a good comparison to that of 2241, which is essentially unrestored, hence the asking price of the former doesn't relate well to the anticipated asking price of the latter.

[Steve Cassani]

Ned tells us, "Unfortunately, the history of 2481 can't provide a good comparison to that of 2241, which is essentially unrestored, hence the asking price of the former doesn't relate well to the anticipated asking price of the latter."

Do you see a future for unrestored cars more in terms of there being few of them or as opportunities for restoration to the original condition? I'm asking your thoughts on whether a buyer would pay a premium for a car he would leave alone versus a buyer who sees an opportunity to turn back the years without diverging in any way meaningful to the market for original cars, along the lines of the work done by David Wagner?

The problem I'm struggling to pose to you has to do I suppose with what advocates of originality being preserved for its own sake call 'patina'. Wear and tear is irreplaceable. Does a skillful restoration inevitably lose something in the translation?

[DMXF]

Originally Posted by Steve Cassani

Do you see a future for unrestored cars more in terms of there being few of them or as opportunities for restoration to the original condition? I'm asking your thoughts on whether a buyer would pay a premium for a car he would leave alone versus a buyer who sees an opportunity to turn back the years without diverging in any way meaningful to the market for original cars, along the lines of the work done by David Wagner?

The problem I'm struggling to pose to you has to do I suppose with what advocates of originality being preserved for its own sake call 'patina'. Wear and tear is irreplaceable. Does a skillful restoration inevitably lose something in the translation?

Steve - The main problem is that you cannot get a true restoration by just dropping the car off at a shop. I know guys who have been looking for original parts for their cars for decades and, in addition, the time it takes to fix up all the old junk is overly cost prohibitive, time consuming and difficult to do right. The net result is most owners won't pay what it would cost and owners and shops aren't patient enough for the time and effort it would take for a real restoration needed on most cars, so much of the car is replaced with new parts. Therefore, I think it's fair to say most of the core enthusiasts would prefer a car that hasn't been excessively touched. The restored cars I've seen that are by far the best job are ones that the owners had very tight control over every aspect of what was being done and had to end up doing alot themselves.

Some buyers don't care as long as the car looks beautiful and shiny, and there are examples not that original from a cognoscenti standpoint which have brought the highest money in the bling and rapid auction and other environments.

[Nedsel]

I think DMXF has covered it well. In addition, you will find that the car I was referring to as not having the ability to make a good comparison is a little bit beyond "restored" - it was repaired following a rear-end collision by getting "clipped." By that I mean the rear half of the car was cut off, and the same section from another one, which had been wrecked in the front, was grafted onto 2481. This impacts the price beyond what a simple restoration might.

[Steve Cassani]

Good answers. Thanks guys!