This Super-Rare Shelby 427 Cobra is Hitting the Auction Block

Calling Shelby’s 427 Cobra a legendary car is a huge understatement

If there is one person who is regarded as a mythical figure among car enthusiasts in the United States and the world over, it would be none other than the founder and namesake of Shelby American, the late Caroll Shelby. Although key parts of the former racing car driver’s automotive story have been dramatized in an Academy Award-winning Hollywood film starring Matt Damon and Christian Bale, his legacy lives on in the cars that bear his name, specifically the legendary Shelby Cobra.

Introduced in 1962, the Shelby Cobra combined the body of an English AC Ace with an American Ford V8 engine; an iconic duo that sent a message to the European sports car establishment. Initially, they were equipped with either a 4.3- or 4.7-liter (260 or 289 cu. in) engine; however, in 1965, the Cobra got a significant power upgrade when it was fitted with the iconic 427-cubic-inch (7-liter) V8.

Built to position Shelby American against GM’s big-block Corvettes and the Ferrari 250 GTO race cars on the racetracks, the 427 Cobra became an automotive icon, as it unlocked a new upper echelon of American performance. As a natural evolution of the previous 260 and 289 V8 Cobras, Shelby extensively reworked the Cobra to fit the big-block 7-liter motor, developing a new independent coil-spring suspension, strengthening the frame, and altering the body to fit wider wheels and tires.

This Cobra has crossed oceans

This special 427 Cobra, which is headed to the auction block at Gooding Christie’s auction at Rétromobile in Paris on January 29, has an incredible provenance that spans multiple decades and two continents. Of the few 427 Cobras built, just 260 left the factory in road-going specification.

According to Gooding Christie’s, this example, CSX3328, is a 1966 model that was ordered new from Shelby American in November 1966 and delivered new to Stark Hickey Ford of Royal Oak, Michigan, on July 14, 1967. Copies of the original delivery documents state that the Cobra was shipped in primer to be painted by the customer. Its first owner (ironically, a General Motors employee) bought the 427 Cobra as a gift for his son, who then painted it silver, installed a chrome roll bar, and a wide hood scoop from a Boss 429 Mustang.

By 1971, the Cobra had passed to its second owner, Ralph Dempsey of Waterbury, Connecticut, who later that year sold it to Hexagon Motors in London. Per the auctioneers, this specific car appeared in an Autocar magazine road test shortly after it arrived in the UK, which left an “indelible impression” on its staff.

In 1972, John Charles Cooper purchased the Cobra and kept it for 14 years. During this time, he drove the car for approximately 3,000 miles and participated in several competitive events, including a hill climb at Lorton Park and a sprint at Silverstone. By the mid-1980s, this Cobra had been acquired by Ed Hubbard, who commissioned renowned Cobra specialists Autokraft to restore and repaint it in the classic blue and white livery, before displaying it in his private museum on static display. In the early 1990s, it was passed on to Kevin Pilling and later to Charles Grohe, a respected Swiss collector.

Its current owner, who is based in Switzerland, has owned the car since 2002. Between 2018 and 2022, they commissioned an “extensive, concours-quality restoration” which included returning its aluminum body to the current red over black specification and a mechanical overhaul to its original 427 side-oiler powertrain. According to the auctioneers, the car has been used sparingly since its restoration and is now fit to compete in concours shows or vintage rallies.

With a curb weight of just 2,350 pounds, the 427 Cobra is known for its monstrous power delivery. Famously, Ken Miles once demonstrated the Cobra’s performance in a display where he pushed the car from zero to 100 miles per hour and back to zero in 13.8 seconds; a fairly impressive feat that places it among today’s modern performance cars.

According to Gooding Christie’s, the 427 CID OHV V8 in this example features optional dual Holley 4-barrel carburetors, which help it develop 410 horsepower at 5,600 rpm. It is connected to the rear wheels via a 4-speed manual transmission and features disc brakes all around, as well as a 4-wheel independent suspension with A-arms, coil springs, and tube shock absorbers. In addition, this example is equipped with Sunburst cast-alloy wheels, a rare set prized by Cobra enthusiasts.

Final thoughts

According to Gooding Christie’s, this car is estimated to sell between €1 million and €1.25 million ($1.17M – $1.46M). It is also registered with the Shelby American Automobile Club and comes with a treasure trove of documentation, including copies of original delivery records from both AC and Shelby American, as well as the original UK logbook and an extensive filing documenting its restoration and service history.

Given this car’s provenance and the incredible backstory behind its existence, this is a wonderful opportunity to own a rare piece of iconic American automotive engineering. In my personal opinion, this car deserves a spot in my theoretical “unlimited money garage,” as a vehicle like this is a true example of innovation of the time period.