New member with "barn find" question

[tommcb99]

Hi All,

I'm a new member to the forum and am hoping one of the members can help me with some info.

My aunt recently died and we're trying to put a value on the assets in her estate. And guess what: one of them the 1965 Shelby AC Cobra that she purchased new back in 1965. It's got the 289 engine and everything is original, with 35,000 original miles on it.

It's been sitting in her garage covered up for about the past 15 years or so, so it's pretty dusty. But it's a genuine Shelby, looks like no body damage, and we're now wondering what it's worth and the best way to sell it.

My cousin is the executor of the estate and contacted someone (not sure who or what organization) and they got pretty excited. They specifically said don't do anything to it, not even wash it, as it's a "barn find" and collectors want it as is. They want to put it up for auction in August.

Of course, if it does go up for auction, we'd want to set a reserve price, so I'd appreciate any advice as to what everyone feels it's worth and what the reserve price should be if it goes up for auction.

Thanks for your help.

Tom

[computerworks]

Do you have access to the car?

If so, open the hood and look on the passenger footbox for a serial number tag.
Post the CSX number and you will get all the info you ever needed from the members here.

If you "can't get to the car" or some such thing... then it'll be a dead end here.

There were less than 600 small block Cobras made...and there have been over 1500 "barn finds" in the last ten years.

So...supply photos and numbers. please

[wrogers55]

Finally, something entertaining. Be interesting to see what part of the library it belongs in, fact or fantasy.

[tommcb99]

Thanks for the quick replies. I'm fairly certain it's fact, not fantasy, as I remember when she purchased the car back in 1965. I was appalled at what she paid for it: $6,900, which was a lot of money for a car back then.

I'll see if I can get the CSX number from my cousin and post it. I know she gave all the info to the person she talked to, who got back to her with essentially the complete history of the car, including the dealership in California from where she purchased it. He didn't give a value to my cousin and is pushing her hard to put it in an auction that apparently a club he's in runs. I just want to make sure we don't get screwed on the price. I know that fully restored original Shelbys from the mid-sixties can easily go for the mid to high six figures. This one, of course, as a barn find, is another story.

I'll see if I can get the info and post it.

Thanks again for the replies.

Tom

[computerworks]

Originally Posted by tommcb99

I'll see if I can get the CSX number from my cousin and post it.

So, that should be pretty easy to resolve... if someone gave all that info.

We'll stand by.

[Jeff Frigo]

Here we go. Anybody want to place a wager?

[tommcb99]

Well, I fired off an email to my cousin, so now we'll see if she's willing to give me the serial number. I can't see why she wouldn't, but she's taking her duties as executor very seriously.

Can't blame you all for being skeptical, given that there are so many replicas around, but I can tell you this is the real deal. I remember her buying it. But of course, without the serial number it's just one more blowhard on the forum, right?

Anyway, let's say it's real. Any guesses as to what it's worth, considering it's been covered in a garage for at least 15 years? Anyone willing to speculate?

Tom

[Don]

Tom.......additional, copy & post the Bill of Sale, Title, registration, etc., etc., along with the VIN and pictures.

[mrmustang]

Originally Posted by tommcb99

Anyway, let's say it's real. Any guesses as to what it's worth, considering it's been covered in a garage for at least 15 years? Anyone willing to speculate?

Tom

Post or private message Computerworks with the VIN (IE: CSX#), he can then put you in touch with the proper people to ascertain a real world value to the car. Do not go by your relatives "local contacts" as a Cobra is not something you market locally, but globally. Ron (Computerworks) is associated (as am I) with the Shelby American Automobile Club (commonly referred to as SAAC), a local appraiser or local dealership may try to take advantage of your family, do not allow this to happen........

Bill S.

[*13*]

Sorry if we sound skeptical, but this sort of thing a happens all the time. Someone posts a claim with no pictures, no VIN. Then it drags on for 4 pages until we all come to the reality that it's another internet troll. Post the CSX# & photos

[CobraEd]

Question to those in the know here. Of all the cobras known to have been made, how many are unaccounted for?


.

[mrmustang]

Originally Posted by CobraEd

Question to those in the know here. Of all the cobras known to have been made, how many are unaccounted for?


.

A couple of hand fulls if that.

Bill S.

[Cobra #3170]

Originally Posted by CobraEd

Question to those in the know here. Of all the cobras known to have been made, how many are unaccounted for?


.

There are even some that were not known to be made that are accounted for.

[wrogers55]

Outside this thread's subject....CobraEd's question is really interesting to those of us who don't follow this stuff with any passion.

How many "original" serial numbered Cobra's or Coupes have been lost or not accounted for in the records? Have some just disappeared into the junk piles of racing history after crashes and parts cannibalism....or whatever?

[D111]

$6,900 in 1965 For a 289 car ,must've had The dealer install pinstriping and paint protector

[Silversmith]

You might consider passing this site & this thread off to your cousin. If she is as committed as you say, about her duties as executor of your aunts estate. She would surly see the level of expertise these members have when it comes to original AC's. She would also understand that no one here is out to fool or take avantage of your family in this matter. In fact, I would be supprised if there wouldn't be direct bidders @ the auction of this AC if real from this august group of members.

[eschaider]

Tom,

This is a barn find I stumbled across a few years ago



It was in exceptional company. The car on the left is a like new Allard and the Benz on the right is a 300 SL Gullwing. In total there were more than 30 cars in the 'barn'.

The plate the guys are talking about looks like this



My barn find Cobra needed to have the engine rebuilt - it had seized up! After the rebuild it sat for a while as potential buyers mulled it over in our bad economy. A sale is finally about close and the agreed upon price is middle six figures.

This should give you some sense of what yours is worth.

BTW if your cousin is really serious about her executrix responsibilities she will not get secretive about this stuff. The #1 responsibility of the executor / executrix of an estate is to be sure all the taxes are paid. In the event the estate has insufficient funds to pay the taxes she becomes personally liable!

It is decidedly in her best interests to get fair market value (or better if possible) for the estate property. A turtle/ostrich mentality is a sure way to get into trouble. Get some professional counsel and pay attention to what the guys on the site here tell you, we actually have some lawyers on here who are Cobra enthusiasts and they are pretty smart guys.

Ed

[olddog]

Doesn't the advise not to even wash the dust off, seem wrong?

A barn find doesn't add a darn thing to the value, in my opinion.

Wouldn't a clean, running car be more valuable than a dusty one that hasn't be started in 15 years and is unknown? Obviously all do care must be taken to make sure the engine is not stuck and rusty inside, before turning it, etc.

[B.M.B.C]

I'm gonna rattle a few feathers now , but watch out out for the dealer sharks wanting the car. And set the reserve at $600k . Because genuine one owner barn find cobras are rarer than the fully over restored show cars. This must be one of the last genuine cars of its kind. You can not buy better originality like that. Get it started and into a running driving condition and leave that dust on it!

[Jeff Frigo]

CSX number please!!!