Questions about cobras for sale...

tkuester · #1 (**permalink**) 03-18-2003, 07:09 PM

This note is not directed at this car but I stopped here to make a point. I have been looking for a Cobra to buy for the past three months. I have seen listings for absolutely stunning cars as well as rediculous combinations of engines mated with low end body and interior solutions. All of this would be fine if only the prices matched the conditions of the cars. Are all Cobra owners dreamers? and will I become one of them once I own one? And why, when selling a $50,000.00 car, do only a few listings have decent photographs, if any. Is it assumed that all Cobras look alike and therefore pictures are not necessary? I continue to see notes from people indicating that there is an awareness that the economy is soft, yet prices remain the same and little sells. So what gives? Will I understand the answer if some of you try to explain it to me?

Brent Mills · #2 (**permalink**) 03-18-2003, 07:21 PM

Split this commentary out of an ad because it's a separate thread.

Excaliber · #3 (**permalink**) 03-18-2003, 07:57 PM

Copy of an e-mail I sent tkuester, but then thought it might apply to more of us too. Brent, your QUICK today!

I hear you man! The Cobra market covers such a WIDE variety of the "same" cars it's always
been VERY confusing when it comes to "price" and "quality" issues. Nothing new there,
soft market or not!

Fact is, some owners have always been "out of touch" with the reality of their vehicles
worth. Recently the prices have taken a pretty sudden "dive" and owners are slow to react
to the "new" market value. I can't blame them for that!!!!

Sometimes a seller might get "lucky" and get a GREAT price on a marginal Cobra, from
someone with "marginal" knowledge, it happens! It aint gonna happen with a buyer like
yourself, educated and getting more so everyday with knowledge of the "real" Cobra world,
the various cars, etc. You'll be fine! I worry about your neighbor who might rush out and
buy one just because you did and doesn't have a clue, lol.

SPF, ERA, Kirkhams and several others are pretty much going to hold steady of re-sale value,
no matter what. But theres a great Kirkham for sale right now at a very attractive price,
so no car is "safe".

"Kit cars" built by an indiviual are all over the map! It's REAL easy to put a TON of
money into an "also ran" Cobra. Later if you have to sell, there is NO WAY your taking
much less than what you got in it!!!! HELLO????? It's worth what the MARKET will bear,
NOT what you got in it!!!!!

Man are there some nice "deals" out there right now!!!! Awesome prices on GOOD STUFF!

Ernie

SCOBRAC · #4 (**permalink**) 03-18-2003, 07:59 PM

When you have $75,000. Invested $50,000. is a steal.

Tom-In-Ohio · #5 (**permalink**) 03-18-2003, 08:30 PM

tkuester,

I don't believe that all Cobra owners are dreamers. What makes you think those prices are set in stone ?? Perhaps they are willing to negotiate down from what you may consider a ridiculous asking price. It does not hurt to make an offer on a car that strikes your fancy.

In fact, I know of several VERY nice Cobras that sold recently for considerably less than the initial asking price. Yes, they were motivated sellers. But a lot of these guys don't tell you that in their ads. Give them a call and start the negotiation process. You might be pleasantly surprised.

Tom

Excaliber · #6 (**permalink**) 03-18-2003, 08:46 PM

Tom good point! Like I'm going write:

SPF, asking $60K, but will take $35K! lol

Ernie

KeithBrown · #7 (**permalink**) 03-19-2003, 07:37 AM

Quote:

Originally posted by SCOBRAC

When you have $75,000. Invested $50,000. is a steal.

Not to try and split hairs to much, but buying a Cobra replica is very rarely an investment. Of course we all want Cobra's to maintain there value, but you don't see that in other cars either.

Depreciation and cars go hand in hand (with a few exceptions).

If I had paid $75K, I too would not be terribly happy with selling it for $50K, but the market can be brutal - but we all seem to prefer the whole capitalism slant.

Regards,

Keith

ToyCollector · #8 (**permalink**) 03-19-2003, 08:16 AM

I sold my car in less than a week. Mind you, I bought it at a good price, but I also priced it to make it attractive for "REAL" buyers to jump on it. All in all, my loss was probably 30 cents a mile for what I drove it--and let me tell you, anyone would pay 30 cents a mile for the fun factor. I also factored in that I had an "older" SPF chassis albeit with some nice updates. The main message is, you need to see what has actually been selling, and at what prices. Not what the ads are listing, but what deals get done and at what price. If you price it high, you will not get the interest and people will read your ad and move on.

I have a friend who bought a SPF with low low miles that was traded into a dealer on a Viper and essentially stole the car IMO. The dealer just wanted to move it. Those are the buys that ARE out there, and that is where the smart money is going. My friend should have no problem selling his car for what he paid, or even for a profit.

JWheaton · #9 (**permalink**) 03-19-2003, 08:23 AM

tkuester,

If you have only been looking for 3 months than you will probably be looking for a while longer. Most people, form what I have read and heard, have spent a considerable longer period of time to find their Cobra. To each their own story though.

You should keep in mind that once you buy the car your story might change as well. What is that old saying "The grass is always greener."

Good luck on your search.

leejleej · #10 (**permalink**) 03-20-2003, 05:32 AM

I concur with your observation, as I too am looking for a Cobra. We should resist the tempation to yield to our emotions when making the "buy, no buy" decision and that will mitigate this "dreamer" fallacy.
Feel free to share notes with me directly at jong@tpsassocinc.com - we can cry the blues together!
Good Luck,
Jong