Cobra prices - What's the trend?
 

Folks,
I was about to jump in to the Cobra market making my first purchase. However, I've decided that the more prudent thing is probably to sit back a bit, watch the cars and prices, and get a better knowledge of the market. My observations so far seem to show that the top end cars going in excess of 50K are not moving well. They tend to sit and not sell, or at best they sit for quite a while before selling. Do you find that to be an accurate statement, or have I misread things? Do you guys feel that prices in general are rising, falling or stable? Any input at all would be appreciated. Thanks.
Doug

Prices...
 

I absolutely think that's an accurate statement. But that's not surprising at all. It's a $50k plus toy. I'm not entirely sure it's ever been much different, has it?

I watched for a year. Watched *seriously* for the past 6 months, and I wasn't willing to let another spring/summer/fall go by without having one. That is certainly something to consider... Do you want to sit on the sidelines this spring while other's enjoy their cars?

I've had mine for 4 days now, and I'm so happy I can't see straight. My only remorse is I feel like kicking the tar out of myself for not doing it sooner. So what if someone want's $5k more for a car you *really* want that you feel it's worth? Drop the dough and ride that bull like there's no tomorrow. Ending the search and getting to enjoy it NOW is worth the money. Trust me... :)

Have to agree with Jake on this one. Prices go up and down a bit but I have seen a stabilization in the past few months. If you look around you will find some very good bargins out there,if you are waiting on the best deal ever,you are likely to be waiting forever and will miss out on a lot of fun. chuck

I have one Cobra for sale, an E-M built in 1995. I have it for sale and will gladly take 35,000 for it. But it is not moving. I just bought a new Factory-Five and paid 47,000 for it. Alot for an FF I know. But it is what I wanted and it is exactly what I visioned. It is all new, except for the motor. The E-M, I put 12,000 in upgrades, I installed a new IRS as well as carb, intake, water pump and did any little thing it needed. The trend is everyone wants the "25,000 dollar" Cobra. If you can find one, great!!!. That is if you don't have to put 5 to 10,000 in it or more. I know alot home built cars are very good, but buyer beware!. I think mine is fairly priced, hell I have 42,000 in it and I knew I was going to loose on the IRS upgrade, but I did it for safety and peace of mind. But my fair price is not others and I have to feel that is why it has not sold. Their is alot out there, SPF, FF, Kirkham and the real Shelby's and the prices are all over the place too. I have to agree with Humbucker you want one, jump in there do your homework know what you want and go for it. I don't think they are going to get cheaper (sellers may get desperate) but I don't think the prices are getting cheaper.

I agree as well. I am so far over my original build budget it not even funny. However, I would not trade the times I have had with the Cobra for anything. You could offer me 20 Grand more than I have in this car and I would not take it! Find the Cobra that you want to purchase or build, that is in the range you want to spend, and then drive the tires off of it. Investment be damned! You'll see. Besides, what is the use of having a trailer queen that you got at a great price that you never get to enjoy, just so you can make some money in the future? I agree with Humbucker, should have done this a very long time ago! Good luck with your search.

:D

--Mike

I second, treble, and four-ple all the others that say we had wished we had bought our Cobras earlier.

Determine how much you are willing/can afford to pay, then BUY one at that price ASAP!

There will ALWAYS be a better deal that will show up soon after you bought yours, just like there is ALWAYS a Cobra that is: Faster, or quicker, or nicer paint, or more chrome under the hood, or fancier wheels, or bigger-engined, etc etc etc.

I was watching for well over 6 months and had just about decided to build one at close to 40K with all the right stuff - even for a Lone Star. Found mine with about everything you could want (minus the 427 of course) for way way less. I still watch prices and no way are people getting what they have in them - don't even mention the labor part of it! Now I have spent the last 5 months tweaking it for my preference and driving the heck out of it. It has and continues to be a joy!

Buy but don't Jump
 

I agree with what everyone has to say about buying. I have waited FAR to long.

I would recommend sorting out what it is you want in the car before viewing the market one way or another. All the manufacturers offer something different. It is important to be clear on what it is you want in/on the car before you buy something that on the surface looks exactly what you want and turns into a something you can't wait to replace.

767,

Why don't you come down to Nicks at Classic Concepts. A bunch of guys meet there every Sat. am. He has alot of Cobras there and you can get some good advice.

He is on the corner of Edison Ave & Otis St in north Babylon

There are plenty of new options in that price range so the used ones are going to take longer to sell since they would have to be a really high buck car. I can tell you that the industry as a whole is going to start seeing price increases soon though with the cost of materials going through the roof and exchange rates worsening.

We can help you out, whatever your budget maybe ;)

No question the market is "up" in the spring/summer and "lower" in the fall/winter. Always been like that, so it's natural prices appear to be "up" at this time of year.

BUT, this year IS different. I think prices in general are stabilizing and will remain that way overall in the forseeable future summer and winter. Of course with the traditional drop in winter value prices.

Don't let another summer go by, none of us are getting any younger. At my age I find myself thinking, "If not NOW, when"? Time is of the essence in my book.

There is nothing "prudent" about owning a Cobra. You want "prudent"? Buy a Corvette!

Lowell

Shut up and pull the trigger already!

767,
For me, I felt the most fun would come with the hunt. Learning, asking questions and negotiating the deal. While it was fun, owning/driving my Backdraft has been even more fun! Go for it...

Mines quadrupled in value in 3 years.

Do your homework! There are plenty of cars out there to be had. You should be able to find a nicely done car with IRS for under 35k.

Patience is a virtue.

IRS and under 35K will be tough, but possible. Under $35K with live axle (8.8 or 9") is more likely.

Do let us know how it goes!

I've have watched the market for 15 years and owned 2 Cobra replicas. The price and value deal of a Cobra has always been a mystery.

Why are some cars of great value for sale for a long time and others that are very scary in appearance and build quality sold imediately? I do'nt know.

About 5 months ago I sold my SPF Cobra for $30,000. I had it for sale about 1 month before it sold. I was very surprised it took that long and only 2 or 3 people had a serious interest. I don't think I ever seen a SPF Cobra that inexpensive for sale through CC.

I suspect many people initially set their for sale price very high with hopes of attracting an eager buyer. Some time later they sell the car for significantly less.

I have watched buyers place a wanted ad in CC with the type of car they want to buy and the amount they are willing to spend. I have seen comments to the effect "you'll never buy a Cobra for that amount!" I think they do and this may be the best approach to buy a Cobra.

My advice to a buyer would be to purchase a manufactured car or keep a lot money on the side to modify and repair the car. Also, I would recommend a buyer have excellent mechanical skills or know someone that does or have truck and trailer and be able to tow it to someone that is an expert with the car. Even simple work such as balancing the Trigo's can be an exercise in frustration. It is very difficult to find mechanics that are mechanics.

I really enjoyed the Cobra and continually follow the market, but honestly the Cobra (even the good ones) is a lot of work (and money) for the few miles it can be driven in a year.

I would say now is a good time to buy. Buy used to stretch the dollar.
Rick

30K for an SPF? Man, that one gotta away! Your right, I've NEVER seen one anywhere listed that low.

In fact, I wonder, was it priced SO low some potential buyers didn't take it seriously because of the low price? Things that make you go,,,, Hmmmmmmmmm

I agree, Cobra prices at times are so bizzare I can't figure it out! It could have something to do with finding EXCATLY the car you would want to build, color, options, etc. To "us" it looks like another replica, to the new buyer it's "perfect" in every way! When I bought my ERA it was very close to what I wanted, 95%. For me, THAT clinched the deal.