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Mecum's small block goes thru the roof at $490,000

Discussion in 'Shelby Cobra' started by bitzman, May 25, 2011.

  1. bitzman

    bitzman Well-Known Member

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    This price surprised me--Mecum got a large size amount for a 289 Cobra at their Original Spring Classic Auction May 17-22, 2011. Pretty soon small blocks will be worth more than big block Cobras!
    -----------------------------------------
    Year 1963
    Make Shelby
    Model Cobra 289
    Body Roadster
    Engine 289/271 HP
    Trans 4-Speed
    Color Red
    Interior Black
    Web No. SC0511-107077
    INV No. 52336
    Auction DetailsList of Cars


    Lot F226 1963 Shelby Cobra 289 Roadster
    CSX2096, The Shelby Demonstrator


    HIGHLIGHTS

    - The Shelby Demonstrator
    - Invoiced from AC to Shelby on Feb. 20, 1963
    - Retailed to Jacques Passino of FoMoCo on Sept. 30, 1963
    - Retail invoice reversed by Shelby credit memo one month later
    - Kept by Shelby as a demo for 15 months
    - Finished with Group A accessories
    - Chrome knock-off wheels
    - Early Flathead Cobra emblems
    - Retains early production shifter knob
    - Documented in the Shelby Registry
    - Copies of AC Invoice to Shelby American and Shelby American Retail Invoices
    - Featured on Dennis Gage's My Classic Car as a good example of an early 289 Cobra
    - 2nd Place Concours SAAC 10
    - 1st Place Concours SAAC 11
    - Current owner traded for this car in 1992

    CATALOG DESCRIPTION
    Among Carroll Shelby’s scores of innovations was his pioneering use of product placement to promote the Shelby brand. The introduction of the Shelby Cobra was closely followed by a flood of appearances by the cars in apparently every possible popular medium, from the Rip Chords’ hit record, “Hey Little Cobra” to Elvis Presley’s "Viva Las Vegas" to magazines and newspapers across the country.

    The Cobra’s seeming ubiquity was a bit of an illusion driven by the almost boundless energy Shelby invested in promoting his new creation, employing steady media exposure to establish the car as an American cultural icon. Current research indicates that CSX 2096 is one of a small handful of cars used for such PR purposes as the September 1963 Motor Trend road test and the August 1963 Playboy cover shoot that made the Cobra one of the very few cars ever to appear on the cover of Hef’s magazine.

    Known to collectors as the Shelby Demonstrator, this 1963 Cobra was invoiced from AC Cars to Shelby on February 20, 1963, retailed to Ford executive Jacques Passino on August 30, then reverse invoiced to Shelby a month later on September 30. It was used by Shelby as a demonstrator for a total of fifteen months, after which it was sold to Frank and Douglas Loundes of Pasadena, CA on April 15, 1964. Factory equipped with the “Class A” accessory group that included chromed 5.5-inch wire wheels with “AC” knock-offs, a dash-mounted rear-view mirror, wind wings, chromed bumperettes and a quick-fill fuel cap, it also incorporated dual four-barrels, Whitewall tires, a luggage rack and optional seat belts.

    The second owner, also a Californian, sold the car to a British dealer in 1972, but it returned to the U.S. in the winter of 1978 when it was purchased by Art Mohr of Michigan. Mohr had the color changed from Blue back to its original Red while the engine was rebuilt by Total Performance of Mount Clemens, MI. After several years of enjoyment, Mohr put the car on display at the Auburn-Cord-Deusenberg Museum, which sold it to Jerry Miller of Nashville, IN in 1982. The car then appeared at several SAAC events, winning second place in the Cobra Concours division at SAAC 10 and first in SAAC 11. It has also appeared several times in The Shelby American.

    In 1992 owner David Painter of Evansville, IN delivered CSX2096 to Collector’s Choice of Dane, WI for a complete mechanical restoration. Painter has carefully preserved the car since then and today it remains an excellent example of an early production Cobra with an interesting history.

    Pictures here:http://www.mecum.com/auctions/lot_detail.cfm?LOT_ID=SC0511-107077


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    PS I don't work for Mecum, I just like to keep general track of sales prices on CSX2000 and CSX3000 cars
     
  2. vernonestes

    vernonestes Well-Known Member

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    490,000 is about market value for this early of a Cobra in this condition..... i wouldnt call it "through the roof"

    There is also dispute over the legitimacy of the claim that the car was the "Playboy Cover Car" as touted by Mecum..there is no documentation of this claim. The seller and Mecum seem to simply be basing that off the fact that its an early Red cobra..its not the only early red cobra..in my opinion, 2019 would have been the more likely Playboy car but that's just me.

    Also, 427 Street Roadsters are currently valued somewhere in the 750-925ish range, i believe, for good unaltered cars. So, regardless if one THINKS 289s SHOULD be valued higher, the prices they command are not that of 427s. Just stating the facts based on other sales.

    Best,
    Vern
     
  3. Real 65

    Real 65 Well-Known Member

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    I believe Vern is correct. In early 2008, a driver condition CSX 2200 serial numbered Cobra sold for $530K in a private sale. The prices then seemed to come down later. That same Cobra (in 2008) would probably be worth about $450K today, IMHO.
     
  4. legendmetals

    legendmetals New Member

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    Don't forget the 6% juice on top of the $490,000
     

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