The Current Cobra Market

[Apicia]

You are dealing in a "desire" market as opposed to a necessity market with these cars. In such a market the cars are worth whatever someone will pay for them.

Like the nut-jobs trying to get $140k for a Supersnake, or the equally crazy guy selling his terminator for $16k because he has no patience to wait for a buyer.

Every car has a buyer, if you can afford to wait, do so.

Every car does not have a buyer. I have seen for sale threads that last 9 months and the seller gives up. I have a "one month" rule. If priced properly, the car should sell within a month. The KB Mystichrome sold in days. That was priced low at 20k. My most recent car sold in two months. I probably was asking a bit much at first, then when I dropped the price 1k, it sold right away.

There are buyers and there are sellers. The two meet when the price is right.

 

[TorchedCoupe]

Every car does not have a buyer. I have seen for sale threads that last 9 months and the seller gives up. I have a "one month" rule. If priced properly, the car should sell within a month. The KB Mystichrome sold in days. That was priced low at 20k. My most recent car sold in two months. I probably was asking a bit much at first, then when I dropped the price 1k, it sold right away.

There are buyers and there are sellers. The two meet when the price is right.

You can't uphold a 1 month rule on these cars for the simple fact that the buyers are there, but the banks are not. I had plenty of interest in my Cobra, but most were tire kickers that didn't have meet the criteria to get a loan. Those that were eligible did not have the extra cash to come close to book value. I had a guy low-ball me via PM, and before I had time to type a negative response I received a phone call from him saying he realized that he wanted this car and would pay what I wanted. I didn't keep my car in immaculate condition for 5 years only to get the same price as the guy selling his daily driven, beat up 2003 Cobra.
If a sale was held up by a measly $1,000, something is wrong. If someone sees a car that they want, a little extra money isn't going to bring the sale to a halt.

 

[Saleen281sc]

I agree with the OP. Any Cobra owner who thinks their car is worth 30K is crazy. Unless its only got 1000 miles on it, or has some rare intrinic value..its just not going to get that type of money now.

Bottom line is..if you are serious about buying/selling a Cobra, you need to research areas like eBay/Autotrader, etc...not SVT marketplace.

My Cobra goes on the block next month, and will probably be listed on eBay or AutoTrader, just because thats where I have had the best luck, and realistic pricing.

 

[Super Sonic 03]

Last February I picked up my Sonic Blue Coupe for 23k with 25k on it. Lightly modded, tune, pulley, exhaust from headers back, cage, springs and IRS bolt, IRS brace, intake, plugs, and a few other things. I would say that was a fair price for the time I was looking. I found a few other SB coupes for 26k and up depending on the miles, some being almost bone stock and having 13-20k on them. I would say I did good. Right now looking to sell the car would just be horrible, the prices have dropped so much on them.

 

[tjmayer]

here is a auction report

Year Select Year 2003 COBRA 2D COUPE


Options
Select Country US Canada
Select Region National South East North East Mid West South West West Coast
Seasonal Adjustment No


12/16/09 SEATTLE Lease $12,500 56,729 Avg BLACK 8G 6 Yes
12/16/09 SAN ANTO Lease $12,100 43,567 Avg SILVER 8G 6 Yes
01/08/10 AYCOCK Regular $14,000 70,472 Above DRK/BLUE 8G 6 Yes
01/14/10 CEN FLA Regular $10,800 91,147 Avg WHITE 8G 6 Yes
01/27/10 NADE Lease $15,400 49,126 Above RED 8G 6 Yes
02/10/10 DAYTONA Regular $11,600 74,510 Avg GREY 8G 6 Yes

 

[INFAMOUSSMIEGAL]

I paid $18k at mc coy mills ford in orange county, california 2 years ago and had 18k miles at the time...out the door $22k with tax n license n bs!
That was with warranty n gap insurance blah blah blah i got the deal of the century...car is torch red n head a magnaflow cat back...

 

[black 10th vert]

You can't uphold a 1 month rule on these cars for the simple fact that the buyers are there, but the banks are not. I had plenty of interest in my Cobra, but most were tire kickers that didn't have meet the criteria to get a loan. Those that were eligible did not have the extra cash to come close to book value. I had a guy low-ball me via PM, and before I had time to type a negative response I received a phone call from him saying he realized that he wanted this car and would pay what I wanted. I didn't keep my car in immaculate condition for 5 years only to get the same price as the guy selling his daily driven, beat up 2003 Cobra.
If a sale was held up by a measly $1,000, something is wrong. If someone sees a car that they want, a little extra money isn't going to bring the sale to a halt.

I totally agree with this post. The problem as I see it, is that the key demographic for these cars is the late teen - 30's, or so (obviously a lot of us older dudes have them too, but I'm referring mainly to the demand demographic). Along with the main demo for these cars comes the lack of sufficient savings to buy one of these in cash, which is where the problem with selling comes in. As mentioned, some, or most either don't have sufficient credit ratings, or enough down payment, or a multitude of other factors, which keeps these toys out of reach for them. Now enter the slighter older guys, who may have the cash for them, but at that point they are more inclined to go with a higher end model (unless they are hardcore Mustang guys, hotrodders, etc.). So then you are stuck with a really high demand car, that may be priced fairly, but it is still out of reach for the key market where the demand lies. A vicious cycle, really.:bash:

 

[Apicia]

I totally agree with this post. The problem as I see it, is that the key demographic for these cars is the late teen - 30's, or so (obviously a lot of us older dudes have them too, but I'm referring mainly to the demand demographic). Along with the main demo for these cars comes the lack of sufficient savings to buy one of these in cash, which is where the problem with selling comes in. As mentioned, some, or most either don't have sufficient credit ratings, or enough down payment, or a multitude of other factors, which keeps these toys out of reach for them. Now enter the slighter older guys, who may have the cash for them, but at that point they are more inclined to go with a higher end model (unless they are hardcore Mustang guys, hotrodders, etc.). So then you are stuck with a really high demand car, that may be priced fairly, but it is still out of reach for the key market where the demand lies. A vicious cycle, really.:bash:

Price it effectively and it will sell. oke:

 

[black 10th vert]

Not if the people that want it can't get financing, which was the point I made in my last point. Sure, anyone can move the car for an effective price, but that may not be what the car is genuinely worth, only what some random kid can get financing for. I honestly hope that I am never in a position where I would "need to sell". If someone can truly appreciate what they are looking at, they will pay for it. Hell, my last toy (FFR Cobra) fetched $55k, when the average selling prices were in the 20k-35k range! It all depends on what is done to the car, how it has been taken care of, documentation, and overall presentation.

 

[powersof12]

The trick with these cars is seller trust and documentation. These cars are all over the board and finding exactly what you want is difficult and sometimes impossible. I don't know why but I tend to gravitate towards 100% stock coupes (never modified) or coupes with BUILT motors with solid 8.8" rears. The first is a clean slate and the second took someone who knew how to replace all of the things that break on Terminators.

 

[Apicia]

Sure, anyone can move the car for an effective price, but that may not be what the car is genuinely worth

Worth and market price are two different things.

These cars are worth what people will pay for them (the market).

I have a pet rock worth a million dollars. I wonder what I can get for it?

 

[black 10th vert]

I have a pet rock worth a million dollars. I wonder what I can get for it?

I get the sarcasm, but the main thing is how badly you "need" to sell that determines things the most.

 

[Bdubbs]

I just cannot believe all the cobras on autotrader that are priced in the high 20k+ range. Don't get me wrong, I'll pay more money for a real clean low mileage one, when the time is right. But some sellers apparently are NOT in a hurry to sell there cars.

On a side note, a couple years ago I bought a 92 coupe with 38k on the ticker. My bank had zero problems giving me a 7k loan without seeing anything but the vin #. I had 3k down, so yeah I paid 10k for it. I recently sold it and got my money back out of it. I bank at a credit union so that might be difference.

 

[03SVTBEAST]

I bought my CO back in July for 24k. It only had 8k miles and is immaculate. It had a 2.76 upper, rai, and a tune. I feel like I got a good deal. I traded in my black 03 cobra on it and I got 17500 on trade.

 

[evil04svtcobra]

the 03-04 cobra is a great car for mustang and car enthusiasts alike. the ability to make massive amounts of hp and tq with the stock block is what every car guy dreams of. it saves you headaches and lots of money not having to up grade pistons, cams, heads, ect.

however the car is just a car... and to people that do not follow the car sence nobody cares. the car is only worth blue book to a normal person. but a twin screw or tt cobra in great shape and exactly how a buyer would like it... is worth however much that person is willing to pay. which might be big bucks$$$$.

i bought my 04 four years ago, then it was a sub 30k 500rwhp ported eaton with headers and most average mods. i bought the car for 28k! i have since put bruces bushings kit, twin screw, injectors, xcal2, blah blah blah... i do not think the car is worth more... but i would never sell my car for what blue book is!

 

[Bdubbs]

the 03-04 cobra is a great car for mustang and car enthusiasts alike. the ability to make massive amounts of hp and tq with the stock block is what every car guy dreams of. it saves you headaches and lots of money not having to up grade pistons, cams, heads, ect.

however the car is just a car... and to people that do not follow the car sence nobody cares. the car is only worth blue book to a normal person. but a twin screw or tt cobra in great shape and exactly how a buyer would like it... is worth however much that person is willing to pay. which might be big bucks$$$$.

i bought my 04 four years ago, then it was a sub 30k 500rwhp ported eaton with headers and most average mods. i bought the car for 28k! i have since put bruces bushings kit, twin screw, injectors, xcal2, blah blah blah... i do not think the car is worth more... but i would never sell my car for what blue book is!

KBB or any other based car value is just a crap shoot. Especially on older cars like the 92 coupe I had. The KBB on that was 2,800 dollars. Car was all stock, except wheels, and exhaust. I sold it for 11k.

Like you and what some others have said, its the market and the right buyer that sells/buys certain cars.

 

[Apicia]

Little off topic, but listen to this story. I guess it will not surprise anyone. The guy that bought my Cobra drove down from MI and then drove the car home. He seemed like a straight shooter and a good guy. When he was about to leave, he complained that his Navigation would not route him around tolls. I asked him if he wanted to use my new one. It calculated his route bypassing tolls and he was happy. I told him he just had to ship it back to me when he got home.

Guess what? Nothing. Is it really worth the bad Karma to steal my shit? I even emailed him and told him he had the option to just send me $100 via PayPal and he could keep it. I guess he is just going to keep it without paying for it. The GPS is worth more than $100.

Sorry for the off topic post, just frustrated at people trying to beat you at every turn...

 

[black 10th vert]

Little off topic, but listen to this story. I guess it will not surprise anyone. The guy that bought my Cobra drove down from MI and then drove the car home. He seemed like a straight shooter and a good buy. When he was about to leave, he complained that his Navigation would not route him around tolls. I asked him if he wanted to use my new one. It calculated his route bypassing tolls and he was happy. I told him he just had to ship it back to me when he got home.

Guess what? Nothing. Is it really worth the bad Karma to steal my shit? I even emailed him and told him he had the option to just send me $100 via PayPal and he could keep it. I guess he is just going to keep it without paying for it. The GPS is worth more than $100.

Sorry for the off topic post, just frustrated at people trying to beat you at every turn...

Wow, now that is a really crappy thing to do, and hopefully karma will take good care of him!;-)

 

[TorchedCoupe]

Little off topic, but listen to this story. I guess it will not surprise anyone. The guy that bought my Cobra drove down from MI and then drove the car home. He seemed like a straight shooter and a good guy. When he was about to leave, he complained that his Navigation would not route him around tolls. I asked him if he wanted to use my new one. It calculated his route bypassing tolls and he was happy. I told him he just had to ship it back to me when he got home.

Guess what? Nothing. Is it really worth the bad Karma to steal my shit? I even emailed him and told him he had the option to just send me $100 via PayPal and he could keep it. I guess he is just going to keep it without paying for it. The GPS is worth more than $100.

Sorry for the off topic post, just frustrated at people trying to beat you at every turn...

A fine example of the type of buyers you will attract when you "price your car effectively." :-D

 

[Apicia]

A fine example of the type of buyers you will attract when you "price your car effectively." :-D

Well, this "type of buyer" did come with $100s :thumbsup: