1967 Shelby Cobra CSX-3299 w/ 427, 5300 miles

[LURK]

Saw a story online that RM Auctions will have this car under the hammer at their upcoming auction in Boca Raton this February:


1967 Shelby Cobra CSX-3299 - Only 5,300 miles from new this 427 cu. in. powered street car has been under the same ownership since 1968. From long-term storage this Cobra, finished in Guardsman blue with Sunburst wheels, was the recipient of a sympathetic cosmetic and mechanical restoration.

I couldn't find any info about it at the site yet, nor could I find any posts about it here...

Oh.. and it's not mine! Hah. I wish! Just FYI.

-John

[computerworks]

That car was briefly offered for sale on CC last year...

CSX3299 For Sale

[gwbeaty]

I would love to hear from those with detailed knowledge of this car or similar cars. What is the current value in the market and what would be the likely investment value over 10 years?

Let the debate begin.

Gregg

[Ron61]

Car is as stated in the thread Ron(CW) posted above according to the registry. A two owner car that had some minor damage on delivery to the Ford dealership which was repaired under warranty. Is the statement 1967 - 427 Cubic Inch Powered Street Car, saying that it now has a 427 in it? Car originally had a dual 4/428 Cubic Inch motor and the registry doesn't show it as having been changed to a 427. Or are they referring to the body style as a 427 style? Everything else agrees with what the registry says, except the car was painted Guardsman Blue way early on. Based on the auctions I have watched the past couple of years, if the car still has the original 428 I think it would go somewhere in the $350K to $500K range.

Ron

[gwbeaty]

The biggest area for opining is what the future of the Shelby market will be. Will it be a repeat of the Ferrari bubble of the early nineties? I would think that due to the limited number of original cobra's, the future would provide a steady rise in value nicely above inflation. With the cost of insurance, storage and upkeep, economic climate, etc. factored in...?

More opinions please.

Gregg



Gregg

[Cal Metal]

The history, particularly, any kind of reputable racing history plays a big role in the potential appreciation of these cars.

A good provenance, like a good blood line, is very, very important.
All Cobras, like all Ferarris, are not treated equally by the investing public.

[gwbeaty]

Very true Cal. The highly prized always carry the lessor cars in an appreciating market but the best seem to survive the crash when the bubble bursts. Same can be said for all investments.

By the way, I am from Waukesha originally. Prefer my weather here now but miss the green, trees and lakes.

Gregg

[Cal Metal]

Gregg:

My wife is from Waukesha, originally. Considered the most affluent county in the State of Wisconsin these days. Used to be pretty rural but all that has changed.

Starting to get cold but that's OK. Ice racing begins in approximately one month. Bring on the sub zero temps!!!

[gsharapa]

Cal,

Time to get those high powered snowmoblies out running!

I love Wisconsin. I'm orignally from west suburb of Chicago and my parents had a summer home up in the north woods, Manitowish Waters, Wis. I lived in Madison for while and went to college in Stevens Point in the mid 70s. Work for my uncle at a Ford/LM dealer in Adams/Friendship in the early 70s which is now closed. Was really into the short track stock cars back in those days and actually was an official at the Dells Motor Speedway when Dick Trickle, Dave Fields and Refner were all running.

Would love to come back when I retire from Ford in 7 or 8 years. Still love the North Woods!!!!

[gwbeaty]

Hi Gary:

I still have a summer cottage on Lake Camelot about 17 miles north of Adams. Great place to spend some time in the summer.

I almost went to Stevens Point but my high school ski team coach took me to LaCrosse for a weekend and after being plyed with illiciet substances, decided to go there. Small world on this board some time.

Gregg

[gsharapa]

Gregg,

My brother lived there in the mid 70s and I have water skied on that lake. Actually I think I actually snowmobled on it also. Seems so long ago now. Been in Texas 14 years now!

[Johan]

SO, how much is this car worth ?

[TimG427]

Small world it is..... I grew up in Chicago and went to UWEC for college in 1974 to swim, lived in Madison after graduation until I was transferred to Austin, TX in 1982. I get back to Road America every year. If I make it back to Menomonie can I have a test ride in CSX2189? Oh.....I have no idea what the Cobra is worth, I know I can't afford it.

[gwbeaty]

I never knew a bunch of cheeseheads not to have an opinion even if they knew nothing about the subject.

Really, I am surprised none of the experts are chiming in on this one. I expected a lively debate, not old home days for us Wisconsin boys.

[TimG427]

It's really hard to peg a value for this car. It sounds as if it is a low mile car, but low miles don't always mean the car is in great condition. This is a very valuable car but the extent of its value depends on its current condition, the extent of originality of the car as far as paint, engine or modifications. I would guess that its value is in the $400,000 to $600,000 range. It could be that even with low miles, the car could need the better part of full restoration. I'm pretty heavily involved in low mile big block Corvettes and have seen cars with less than 10,000 miles that need full restorations due to improper storage, custom paint or body modifications. I passed on a 7,900 mile '67 and a 2,100 mile '69 L88 in October because they they had to be restored due to their heavily modified bodies when they were new. They were low mile cars, but the miles were really not the driving factor on these two cars. Ended up with an 18,000 mile '67 that was pampered and cared for all of its life. Its condition and originality is above cars that have fewer miles but were not taken care of properly.