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View Full Version : What price for a Cobra?



Paul Jarrett
25-02-16, 02:00 PM
Ok, so I am still searching for my perfect Cobra, and Absolute Horsepower have me on their list.

I had a good chat with Anthony yesterday, but hardly anything is coming up privately at the moment, and prices do seem really really high with the dealers. 35-40k for some cars that are not exactly newish builds....the cheaper stuff just doesn't look very good (although who am I to say as I am a newbie!)

But, northwards of 35k plus does seem an awful lot of money for kit car (even though it may be a Cobra and they look and sound great), but with this kind of money, you could purchase a pretty good Lotus, TVR, Porsche, or even an older Aston or Bentley.....

I know its not the same, but do you think prices will tail off or keep going up?

What price would you pay for a hand built car that's maybe 10 years old?????

seph
25-02-16, 02:31 PM
Paul,

go and price one up to build yourself and ask what a factory built car will cost you, you will see why they are not cheap to buy. Prices can only go up as the cost of building them or having one built is also increasing. A factory built Pilgrim with a 3.5 rover and in gel will be 33k.

Paul

Neil O
25-02-16, 02:39 PM
Prices will just keep going up Paul. Good news for those of us that already have one, not so good for you though.
Cobra replica prices will follow the classic car values. They may rise a little slower but they will still go up.
As the authorities make it more difficult to build these things over the years, good second hand cars will be sought after more and more.
Even though they are just a kit car, they actually cost a lot to build. Most Cobras only sell for the sum of the parts, so the builder isn't exactly making money on his 1000 hrs in the garage.
My advice to you would be to buy the car that nearly fits your bill instead of searching for the perfect one. Virtually anything can be changed over a period of time....

Tip of the day: if you see a Crendon SC427 (newer shape body) for sale, buy it. Don't hesitate, don't waste time asking the missus if she will let you spend a bit (lot) more money, don't let the increase on your mortgage worry you, don't get hot under the collar because you have had to sell a child/kidney, just buy it. It will be one purchase in life you will never regret.

Paul Jarrett
25-02-16, 02:43 PM
Received and understood! Thanks both!

Roger Shackleton
25-02-16, 02:52 PM
Kit Car!!!! Please a hand built replica !
Build quality can vary wildly so you have answered your own question you get what you pay for. Even for a private sale for one of the main stream manufacturer IE GD,Dax,AK with a yank V8 for a top well built car even at 5 years old you will be paying 25 to 35k more in some cases.
Prices only star to drop if you go for an RV8 powered car or an entry level Pilgrim.
As Seph says they cost a lot to build so prices are high plus they hold their value.
Yes you can get a Porsche / TVR etc but what car other than a Cobra attracts more attention than a dead body in Tesco's car park on Saturday afternoon!

Lloyd Barnes
25-02-16, 02:57 PM
To build a yank engined car, you're looking at about £10k for the engine and gearbox, £2k for exhausts, £3k for wheels and tyres, £3k for paint, £7k for chassis/body, £700 for gauges £800 for seats etc etc etc.... Most of us try not to add up the receipts, its too worrying plus we "lose" many of them, :razz:

Times have changed also for "kit cars". The advent of SVA then IVA removed any chance of bad cars hitting the road, plus people generally spend far more money nowadays. Try to find anyone building a 4 cylinder cobra these days. I cant think of one in all the time I've been loitering here.

Prices are high for classic cars at the moment, I'm not sure they wont drop back a little, but only a little and your 4 year old Cobra wont depreciate like a 4 year old Porsche will so real ownership costs are still much lower IMHO.

Neil is of course correct in that any of the 54 Crendons in existence should instantly be bought!! :mrgreen:

Happy Jim
25-02-16, 03:03 PM
As the days get longer and the Sun starts to appear you will get a flurry of Spring sellers pop up, the dark months of winter might be best for buying a Cobra but not if you are selling, the downside of that of course is that as summer approaches prices will rise (it is just the way the market it).

You either need to fix your budget and just buy the best that you can within that value (and you will have to accept compromise), or decide exactly what you want and pay the going rate (I would suggest that these are so personal and get under the skin so much that if you compromise too far then it will start to irritate after a short while).

Cheers

Jim

Neil O
25-02-16, 03:55 PM
Until you've had three or four, you don't really know exactly what you want.......:D

tonym
25-02-16, 04:03 PM
Until you've had three or four, you don't really know exactly what you want.......:D


The next one is an AK then?? :-P

Chimeara
25-02-16, 04:13 PM
Until you've had three or four, you don't really know exactly what you want.......:D


And when you have done 3 or 4 and your called Neil you still don't know what you want.

simon
25-02-16, 04:46 PM
The problem is that as soon as a half decent car comes up for sale at 25K, they are snapped up by the dealers and put directly back up for sale for 35K (give or take) I've been looking at Cobras again for several months now and the amount that I have seen get instantly sold then re-appear with a healthy profit is crazy.
I understand that's what they're in business for, but it means that the more "economically challenged" amongst us are priced out of the market. I only managed to get mine because the engine is seen as "unusual" so wouldn't command a premium.
Saw a lovely 289 for sale last year for 23K I had arranged to see it when the owner called me to cancel as a dealer had shown up with a trailer and cash. Within a week it was advertised at 32K.
An old story I know as I've told this before, but many years ago my pal was swlling his RAM for 15K (many years ago!) a chap came along and bull5hitted him about how much he wanted it and how he'd been pleading with his wife to get the money....anyway, the upshot was my pal sold it to him for 12K.....within a week it was up for 19,995 at a "well known cobra sellers" site.
At the end of the day, if he'd told my pal he was a dealer, he still would have sold it to him, but all the porkies were underhand....left a bad taste.
Be quick, that's the only way. He who snoozes............

Paul Jarrett
25-02-16, 05:31 PM
This is up for auction

http://www.classiccarsforsale.co.uk/detail/motors/classic-cars/ac/cobra/169678 (http://www.classiccarsforsale.co.uk/detail/motors/classic-cars/ac/cobra/169678)

zaidesmail
25-02-16, 10:15 PM
This thread has cheered me up and provided all the retorts I need to return to my wife after she 'enquired' into how much the engine/gearbox cost 😬. Even after rounding down to the nearest 5k...

BobMin
25-02-16, 11:03 PM
My wife knows exactly how much the engine / gearbox cost, she paid for it !!! :D

Lloyd Barnes
26-02-16, 06:59 AM
This is up for auction

http://www.classiccarsforsale.co.uk/detail/motors/classic-cars/ac/cobra/169678 (http://www.classiccarsforsale.co.uk/detail/motors/classic-cars/ac/cobra/169678)

Cheap if it goes for £20k. It's probably not painted, GD do a really good gel coat.

TINKA
26-02-16, 09:31 AM
Cheap if it goes for £20k. It's probably not painted, GD do a really good gel coat.

At £20,000 it's a right bargain.

tapped
26-02-16, 10:26 AM
Cheap if it goes for £20k. It's probably not painted, GD do a really good gel coat.

The auction guide prices are notoriously low...
Especially silverstone auctions

That car is for sale at Sovereign too.

Beware buyers fees at that auction too: I was keen to bid on the Lotus Carlton but if bidding gets carried away, after fees I'll end up paying dealer price for a car that I can't test drive or check before buying it!!!

tapped
26-02-16, 10:28 AM
Tip of the day: if you see a Crendon SC427 (newer shape body) for sale, buy it. Don't hesitate, don't waste time asking the missus if she will let you spend a bit (lot) more money, don't let the increase on your mortgage worry you, don't get hot under the collar because you have had to sell a child/kidney, just buy it. It will be one purchase in life you will never regret.


Stop it! 😉

Davidg
26-02-16, 10:53 AM
You could check out the guys at Hallmark http://www.hallmark-cars.com/vehicles%20sales/cobra_1.html

they do have some lower end cars now and generally they are the better quality lower end if that makes sense, but you always have to factor that their is a dealer margin in there. But if you are happy with the car and price that doesn't matter.

Russ-Notts
26-02-16, 12:07 PM
I was at a classic car auction at Donington Park on Wednesday (just browsing!!). There were a couple of kit-cars or 'evocations' as they prefer to call them in the line-up. A fair few of the cars up for auction cars struggled to get near their guide price or meet reserves. Several cars appeared to be pulled from sale late on as the sellers perceived a 'slow day'. Maybe buyers are just not interested at the moment so there could be some good buys to be had. Expect to pay 15% on top of the hammer price as the buyers premium.

Russ.

KevinW
26-02-16, 12:13 PM
What Neil said.

If you like cobras treat this as a learning experience. So long as you get a fair priced car you shouldn't loose money, so you can sell if its not your thing.
If it is your thing, you'll either want to tinker with it till its exactly what you want - these cars aren't complicated like modern tintop, or you'll sell it to upgrade to the thing you really want,.... which you won't really have much of a clue about till you have been driving one for a while.

Neil O
26-02-16, 02:25 PM
I have never seen a replica Cobra make decent money at an auction.
Even well put together Hawks have not made what I viewed as a fair reserve.

If selling, go to a dealer for a no fuss, low price option or sell privately and put up with the tyre kickers yourself.
Fortunately, I have been very lucky when selling my two Crendons as all viewers were serious and the buyers didn't dick about.
I did sell my Dax to Sovereign and yes they did stick 10k on the price without touching the car (it didn't need anything doing to it) but I was happy to sell it to them at that price so if they can make some dough so be it.

Paul Jarrett
26-02-16, 06:13 PM
10k ! Wow. Least we know there might be some room for good haggling!!

Paul Jarrett
26-02-16, 06:16 PM
10k ! Wow. Least we know there might be some room for good haggling!!

Heading up to Hallmark tomorrow to have a browse. I do like the red dax they have at 27k. New engine it seems too http://www.hallmark-cars.com/vehicles%20sales/cobra_1.html

Flykilla
26-02-16, 07:06 PM
Really? Have a look at the exhausts and the single full length roll bar, its also quite old. Not a problem if its been well mainitained, but need to see if its been built correctly and registered. Personally for that money you can do much better, but thats just mho

Paul Jarrett
26-02-16, 07:10 PM
Ok. So as a newbie, please enlighten me. What should a good side pipe look like and are single roll bars not as good as separate ones or a single?

TINKA
26-02-16, 07:38 PM
The thing that would bother me about the age of that one is Dax modified the chassis back and front to stiffen it up a bit and although it can be fitted to the older chassis has this one had it fitted (if it wasn't already standard when it was made), I have been in an old Dax without these fitted and it makes a huge difference to the stiffness of the chassis. As said you will need to check it is registered correctly as a Dax and not as the donor and generally give it a thorough once over, if poss take someone who knows a bit about Dax cars. The Blue one above would be a better bet just based on face value.

Paul Jarrett
26-02-16, 09:01 PM
Cheers all. What I like about this site, is that people appear to be really passionate, very knowledgeable, and they don't take the piss when you ask stupid questions!

tapped
26-02-16, 09:08 PM
Heading up to Hallmark tomorrow to have a browse. I do like the red dax they have at 27k. New engine it seems too http://www.hallmark-cars.com/vehicles%20sales/cobra_1.html

Build date in 1987 and registered in 2015????? Really?

You probably could do better: it has cheap wheels cheap pipes etc etc

Flykilla
26-02-16, 09:47 PM
http://www.pistonheads.com/classifieds/used-cars/ac/cobra-continuation/ak-427-cobra-1984-2006/5008600?v=b

http://www.pistonheads.com/classifieds/used-cars/ac/cobra-continuation/ak-sportscars-2006/4735195?v=b

If I had 30k to spend, i would consider something like the two above, if buying from a dealer. At a glance, look to be in good condition, look the part and have engines that are potentially pretty quick. Who knows the dealer may accept a cheecky (or in my view, fair) offer. AKs also handle well.
Avoid going out and buying the first car you see. Post on the forum any potential candidates just in case anyone on here knows the car or spots anything untoward. If you find a car that you want but dealer wont budge on price or someone else buys it, something else will turn up.

why not leave the wallet at home and go to some of the dealers to have a browse, look at all of the cars and you will start to see the differences between the sound cars and the not so well maintained or put together.

Paul Jarrett
26-02-16, 10:06 PM
Thanks Flykiller. But what a potential minefield it is for someone that wants a half decent car, but is not all that knowledgeable!! And 25-30k is a lot of money to buy a lemon.

It is an interesting learning curve however and I am enjoying the learning.

However, as tapped said "Build date in 1987 and registered in 2015????? Really? You probably could do better: it has cheap wheels cheap pipes etc etc".......it seems that thing might not be 100% n terms of registration when buying from a dealer?? I would surely think that this would be a given if you are paying a hefty mark up in price, (as much as 10k has been suggested)

Certainly, food for thought for me, going forward.

Its nice to know that people will give views on this forum about potential cars (although this must be a pain in the butt for some that are trying to sell the said lemon)

Happy Jim
26-02-16, 10:22 PM
Not sure where the 2015 registration came from?

That reads as donor from '77, built in '90. The chances of buying an incorrectly register car from a dealer are slim! They live and die by their reputation and wouldn't be dumb enough to purchase something with flaky paperwork.

That said, red one wouldn't be for me but the blue one above it looks nice :-)

Jim

corn plaster
26-02-16, 10:52 PM
For 30k I would sell you my chevy 350 powered Dax De Dion. Correctly registered.


Andy

nuf_said
26-02-16, 11:07 PM
The chances of buying an incorrectly register car from a dealer are slim! They live and die by their reputation and wouldn't be dumb enough to purchase something with flaky paperwork.

Jim

There is a reasonably priced black one from a dealer on evil bay at the moment - Jag V12 automatic which "RETAINS THE IDENTITY OF ORIGINAL 1974 JAGUAR XJ12 DONOR, " Isn't that what we are advised to avoid? Wrongly registered?

Nuf Said

corn plaster
26-02-16, 11:09 PM
A V12 and incorrectly registered, leave well alone

Andy

Happy Jim
26-02-16, 11:56 PM
The chances of buying an incorrectly register car from a dealer are slim! They live and die by their reputation and wouldn't be dumb enough to purchase something with flaky paperwork.

Jim

I'll amend that to read "from a specialist Cobra dealer" - from Joe soap garage you will need to be on your toes!!!!!

Best bet is to find a couple you like and chuck them up on here to be forensically shredded by the forum members :-)

Jim

Flykilla
27-02-16, 12:01 AM
I'll amend that to read "from a specialist Cobra dealer" - from Joe soap garage you will need to be on your toes!!!!!

Best bet is to find a couple you like and chuck them up on here to be forensically shredded by the forum members :-)

Jim

Even the well known dealers that add excessive margins have been know to sell incorrectly registered cobras, ask me how I know..

tonym
27-02-16, 01:06 AM
Cheers all. What I like about this site, is that people appear to be really passionate, very knowledgeable, and they don't take the piss when you ask stupid questions!

Wait till you've been on here a while.......... :-P

Paul Jarrett
27-02-16, 08:26 AM
For 30k I would sell you my chevy 350 powered Dax De Dion. Correctly registered.


Andy

Hi Andy, why are you selling? Can u post me some pics please. Unfortunately, I have to sell the Porka first, which is being prepared by Paul Stephens Porsche and it should be on the market in about a month. Being a turbo, I don't think it will take long to sell, prices are shooting up, I bought it for 28k 2 years ago, recon I will walk away with maybe between 30-40 after Paul makes his mark up and I have paid for all the work. Not a bad investment.

Paul Jarrett
27-02-16, 08:32 AM
Hi Andy, why are you selling? Can u post me some pics please. Unfortunately, I have to sell the Porka first, which is being prepared by Paul Stephens Porsche and it should be on the market in about a month. Being a turbo, I don't think it will take long to sell, prices are shooting up, I bought it for 28k 2 years ago, recon I will walk away with maybe between 30-40 after Paul makes his mark up and I have paid for all the work. Not a bad investment.

But if its blue, I am not a fan of bright blue!...colour wise,prefer something more subtle like this http://www.totalheadturners.com/detail/motors/classic-cars/ac/ram/170866

or this: http://www.totalheadturners.com/detail/motors/classic-cars/ac/dax/156761

aaronjb
27-02-16, 09:07 AM
Wait till you've been on here a while.......... :-P

Yeah, online, in person.. there's no bloody end to it.. :razz: :lol:

aaronjb
27-02-16, 09:08 AM
Thanks Flykiller. But what a potential minefield it is for someone that wants a half decent car, but is not all that knowledgeable!!

If you're worried about your knowledge level you could always see if someone from here would be willing to go with you in exchange for a beer? I'm sure there'll be someone within striking distance of wherever you're going to view..

simon
27-02-16, 09:25 AM
Not sure where the 2015 registration came from?

That reads as donor from '77, built in '90. The chances of buying an incorrectly register car from a dealer are slim! They live and die by their reputation and wouldn't be dumb enough to purchase something with flaky paperwork.

That said, red one wouldn't be for me but the blue one above it looks nice :-)

Jim

Oh boy....the arguments I've had with dealers about that...
"It uses the Jaguar chassis" or "they were all built like that" or even" it's got an MOT so there's nothing wrong with it"
Added to the complete ignorance of so called "professional" car dealers when it comes to kit car registration is mind numbing
There's another v12 Dax on eBay now for 30K.....dream on!

simon
27-02-16, 09:29 AM
I stand to be corrected here, but I would say anything that's been through an IVA/SVA test would PROBABLY be a better built car than a pre IVA/SVA car (on average.....and going by some of the sheds that I've owned!)
Simon

corn plaster
27-02-16, 10:07 AM
Paul

Not really thinking of selling but if someone wants to pay me £30k for it, it can be for sale.

See profile picture.

dave.n
27-02-16, 10:12 AM
I stand to be corrected here, but I would say anything that's been through an IVA/SVA test would PROBABLY be a better built car than a pre IVA/SVA car (on average.....and going by some of the sheds that I've owned!)
Simon

Simon
I think I'm feeling offended by your comment about non sva/iva cars 'PROBABLY' not being as well built as cars having had the test. Yes my car is pre-test.

Yes it could be construed that some cars maybe, BUT having looked at many a cobra over the years this doesn't really apply. Once a car has been through the test the owner then strips the dash, adds nice wing mirrors, strips off, unbolts, adds bits and does whatever they damn well please to make the car how they want it.................as if it had never been through a test. To make it more like a pre tested car.
They even think it's ok to put black and white number plates on for heavens sake.

What I'm trying to say to prospective buyers is be careful. Look with your eyes and not your pounding ,racing heart. Just because it has a iva/test or mot means not a lot. other than it was ok on that day of that year.

While I agree on everything you say, it must still be looked at with eyes wide open. LOL I have owned a few shed's too. LOL some say I still do :p:p:p

Flykilla
27-02-16, 12:38 PM
See if you can tag along to a local cobra meeting. I am sure the good northern Cobra folks will let you have a look at their cars and may even offer to take you out for a spin.

Commando
28-02-16, 09:07 PM
Paul , PM sent

simon
28-02-16, 11:56 PM
They even think it's ok to put black and white number plates on for heavens sake.
p


Oops........;-)

Boxoftricks
29-02-16, 01:43 PM
Whatever you buy check with the DVLA that it is correctly registered. If it is registered as a jag etc when you go past a number recognition police car and they flag you down as you're driving a cobra, not a jag you're in trouble. Some MOT stations are lenient if the owner has been going there for years, if they are not they will not MOT an incorrectly registered one. On the log book it ha to say what it is, not what the donor car was if that makes sense.

Paul Jarrett
29-02-16, 07:31 PM
So......why don't they register it as a dax, ak etc in the first place??

corn plaster
29-02-16, 07:46 PM
The older ones didn't have to be.


Andy

Boxoftricks
29-02-16, 07:51 PM
So......why don't they register it as a dax, ak etc in the first place??

Great question. I'm not sure but it appears years ago it was easier just to keep the same identity as the donar vehicle. There was a DVLA amnesty years ago when they invited incorrectly registered cars to be corrected but it seems many owners did not get the memo!

i forget what the number is but there is a number you can text a cars reg to and it tells you what it is registered as. It's about £2 a go but cheap to save an expensive mistake.

as has been said before dealers tend to steer well clear of these incorrectly registered cars as to correct the problem you have to have them retested by the IVA which without major work and changes they will not pass.

Happy Jim
29-02-16, 09:02 PM
i forget what the number is but there is a number you can text a cars reg to and it tells you what it is registered as. It's about £2 a go but cheap to save an expensive mistake.



http://ownvehicle.askmid.com/askmid.aspx

Bang in a registration and it will tell you the make & model as registered. Free ;-)

Jim