Cobra Market Value Question

[JBinGulfShores]

When is the best time for buyer to purchase a completed running cobra?
It appears that there is a lot of inventory that is not moving currently.

What I mean is, are prices typically lower after summer or as fall arrives?
or is winter better? Prices on Cobras looks like our beach condo market right now, the prices vary greatly and even though it appears somewhat to be determined by small block/big block there still is a 20% difference in similar products.

What are your thoughts?

[mrmustang]

How to buy a used Cobra:

Editors Note:
Ok, the first thing you have to ask yourself is "how much money am I willing to spend for a used Cobra", and what my usage is going to be. Now, by usage, I mean a either a daily driver, weekend cruiser, show car/trailer queen, 1/4 mile drag racer, road racer, or any combination of the above. Once you have set your budget and have a pretty good idea of what you want to initially spend, your next goal is to find the right car for you. Whether your spending $22,000, or $150,000 should not matter at this point, as I've personally seen beautiful, well built cars at $22,000, and some truly horrible cars with over $100,000 in to the build.


Your qualifications:
Know your strengths and weaknesses when shopping for a used Cobra, if you know bodywork, and not the mechanicals, take along someone who has a greater mechanical ability than yourself. Vice versa if your strengths are in the mechanical end of things, and not the cosmetics. Two sets (or more) of eyes are always better than one.

If your going to see a cobra in person:

What to look for:
Fit: How does the body sit on the chassis, do the doors, hood, trunk all line up?

Finish: How is the paint, are there runs, drips, sags. Does the paint have a nice shine to it, or does it need to be buffed out or stripped and repainted?

Interior condition: Does the interior show a lot of aging, do the seats need to be recovered.

Mechanical: Are there any leaks or drips under the car? What about the overall appearance, does the car look like it was well taken care of, or does it look like it was ridden hard and abused.

Engine: Again, any leaks or fluid drips, how does it sound (this can be tough on a car such as the Cobra). Check the engine warm, cold, at partial throttle and at idle. Make sure to check the temperature gauge once the car is warmed up and at idle. Also check to make sure the thermostatically controlled fan (if so equipped) kicks in when it is supposed to.

Transmission: Take the car out for a road test if possible (don't expect to let the seller to allow you to drive it), does the clutch work properly, does the transmission shift smoothly through the gears. Check for leaks here as well.

Rear End: Does the rear end clunk, leak fluids (check behind rear rims for signs of fluid, along with the front and rear of the differential housing)

Suspension: Check the bushings, do they look cracked and worn out, if so, factor in replacements to your costs. What about the shocks (coil overs or ???), if you ask the seller to push down on each corner, watch the rebound, if they bounce forever, then expect to replace them. If the car is equipped with coil over shocks, set the car on an even surface and see if the car sits level or not. if so, then the shocks do not have to be adjusted, if not, then expect a few hours getting things right.

Brakes: If you place your hand on the front disks (do this before the car has been driven), can you feel any grooves in the disk itself? Does the brake pedal feel firm when your sitting in the car, what about on the test drive, ask the seller to do at least one hard braking maneuver so that you can tell whether the brakes are adjusted correctly for the car. Some cars will have a combination of disks and drums, others will have four wheel disk brakes. If set up correctly, a disk/drum set up will work for all but the most extreme usage (IE: heavy road racing, endurance racing, etc).

Wheels: Are the wheels balanced, bolted on, or held on with knock off's? Bolt on wheels are a matter of personal preference, if you like what is on the car, great, if not, factor in a replacement some time down the road. Knock off's should be checked to make sure they are tight, if the knock offs and safety wired on the car, that shows a level of attention worthy of a good owner/seller....

Tires: Are the sidewalls cracked, are the DOT approved, radials or biased ply? What about the sizing, do the fronts both match? What about the rears?

Electrical system: Do all of the lights function, hi beams, lo beams, turn signals, brake lights, horn, etc? What about all of the gauges, do they read correctly?

If your buying a Cobra sight unseen:

Use the above as a reference guide as to what questions need to be asked. If the owner is forthcoming with detailed answers, then you can feel a little more comfortable in dealing with them. if the answers are a little more ambiguous and vague, then perhaps the owners is trying to hide something, or does not really have any mechanical ability or qualifications to answer the questions above..If this is the case, and your still interested in the car, pay to have the car professionally looked at by a qualified inspection service.

In closing, most of the above is all based on common sense. Don't let your emotions get involved in the decision whether to purchase one car or another. Also don't let other so called "experts" sway you to this brand or that, after all, it's your money, not theirs that your planning to spend..Finally, if you need assistance, or don't understand something fully, feel free to ask questions.

The market itself does not really fluctuate price wise from month to month, or season to season, it is more a matter of what a seller is motivated by....Wanting to sell vs having to sell that will motivate a price...........As for some of the asking prices vs others, again, that too is subjective.....If an owner prices his car too high, compared to similar make and build quality, then most likely his/hers will not sell first........If it is priced lower than the market, then it is usually sold to the first person to see it in person..........Finally, if it sounds far too good to be true, 90% of the time, it is.................


Hope this was educational.


Bill S.

[Dwight]

JBIBGULFSHORES
JB are you located in Alabama?
Dwight

[JBinGulfShores]

Mr. Mustang,

WOW! Lot of great info there. THANKS!



Dwight,

YES! Gulf Shores Alabama, specifically at the end of Ft Morgan Road across from the Ft Morgan Marina (now Gulf Shores Marina).

[1985 CCX]

When is the best time to advertise a Cobra? -> NOW..................

That is why there are a ton listed. Come Thanksgiving they are all in hibernation for the year. Price refelct build, builder, and sum of their parts. A complete donor FFR will sell for low 20's, a perfect aluminum KMS or Continuation car will be in the six figures.

Buy what you can afford and it will always please on a drive. Have fun...
Jeff

[What'saCobra?]

Firstly, let's give Mr. M a big serious clap for a big serious posting that might just be the new standard for a Cobra buyer to consider.

Secondly, based on my review of many ebay and CC postings, i might suggest that most sellers would advise the right time to buy is when you have the money.

It is no joke, or at least humor is not my main point. Many many sales responses indicate that the potential 'buyer' isn't really financially prepared to step up to the plate and complete a deal. Not exactly tire-kickers, but not really ready to lay it down on a good deal or perhaps not able.

i realize many do not know the huge variance in the price and specifications available for all the various 'Cobras'. They are certainly not all the same and the prices reflect that fact.

So, learn all you can, read, read, read and ask ask ask. But, make sure you are ready to take action with a serious seller when you get his best deal.

[will butterwort]

I have a friend in Foley who has a Unique for sale. It has all the right stuff for a 427 model.He is older, and health not that good.The car is at Unique in Gadsden Alabama 256-546-3708, tell Allen-Maurice I said hello.Will-alabama

[DavidNJ]

I'm a still investigating, not a multi-time owner like Mr. Mustang. But I have a little different take.

The first two parts are key: what do you want to use it for and how much are you willing to spend. You can fix small things, but changing big things will run into $$$.

The first additional point is how much of the ongoing maintenance are you prepared to do? Wash and wax? Overhaul the brakes? Change the carpets? Overall the engine or transmission?

If you can't do major repairs yourself, you have an strong interest in finding a car that doesn't need any. If you can, things like brake rotors and pads, clutches, carpets, etc. are things you can change. And in some cases improve or change to your tastes. Tires are easily changed by anyone, and 15" tires are not very expensive. Changing them means you know what parts are in the car and in what condition they are in.

One thing that is expensive for everyone is paint. So finding paint you like is important. Especially in purchases under $40k-50k, where a repaint can be 20% or more of the purchase price (I say a beautifully painted Cobra yesterday, 16 coats of paint, over $10k...and probably worth it).

What'saCobra? has a very important point. Being ready and able to buy is important. Can you complete the sale and take the car away? Always a strong bargaining point, whether buying a used Cobra or a new Honda.

The second is knowing enough about Cobras, what you want, and what's available so that you recognize a good deal when you see one. It could take a year of more of looking around until feeling comfortable enough that a good deal is a good deal. You may miss one or more deals during this period. This time of year, when people are taking their cars out, is the best time to learn.

The best time to buy is when the seller wants to sell and there is little competition. The specialty car market...antique, hot rod, replica...always seems to be a buyer's market except for some rare, exceptional items. Since a replica can be reproduced new, there is an upper limit. Convertibles always sell for the highest prices in the spring and the lowest in December-February, at least in snow states. However, the number available in the winter is smaller. And it is more important to buy the correct car for you than on for the lowest price. If you want a 427FE ERA, an FFR donor build will probably not suffice, even if it was free.

Two added notes: if you are looking for an authentic looking replica, do a lot of homework in advance, so you can recognize the issues with each brand replica and the issues on a particular car. Second, if racing or track days are part of your plan, make sure your car and its safety equipment meet the track's rules. Cobras date from the 60's, and an original look doesn't meet most 2006 safety rules.

Oh, and let each seller you meet tell you their story. Each has spent time doing things to their car and/or building their car. Making decisions based on their research and ideas. It is a great way to learn about them and the options you have and the issues you may face.

[ROUSHAC]

mrmustang, 1985 CCX, What'saCobra, DavidNJ:

I got lucky buying my 1st Cobra. It is perfect for my needs and pocketbook.

However, your advice will be invaluable to other "newbies" who may not be as lucky as I was without help of this kind.

Kudos to you all!!!

This is a GREAT forum!

Cheers!
Dave

[Excaliber]

My ERA is listed on Cobra Country for $47.9, pics in my gallery.

...pssssst, substantial discount for Club Cobra members, IF they ask for it, don't tell anyone...



This post will self destruct immediatly following sale.

[Griflet]

mrmustang, 1985 CCX, What'saCobra, DavidNJ:
Thanks from an italian very newbie. I'm looking to find a cobra, but the main problem here is italian regulation, since replicars or kit cars are not even imagined on our regulations !!!!!!! And original Shelby or AC are not affordable for me a this time!!!
Ciao to all!!!!!

[sideoiler10]

Many Cobra replicas are titled as early model Ford cars; e.g. mine is titled as a 1967 Ford Cobra. I had absolutely no trouble getting it registered when I purchased it from a man in Texas. It had also been registered that way there. I have heard other Cobra owners express the same. I have no idea about the regs in Italy, but that might just work.

I know that many have stated that it is critical when the car is first titled to "do it correctly" or it will be difficult from then on. The same when purchasing insurance. Don't list it as a Shelby Cobra...list it as it is titled. Of course you will have to provide detailed photos to get the "agreed upon value" insurance, so they will know full well what they are insuring.

Good luck

[Tommy]

JBinGulfShores -
Your question peaked my curiosity, so I did a little research and found THIS. It claims to be a a service that can provide the average selling price of items sold on ebay. I couldn't tell from their ad if they have monthly prices for an entire year, but if they do it could provide the answer to your question. I've never used this service and can't attest to its value. Good luck.