Equipment
Ordered and built for one purpose, to be raced, the fact that this car survives is a testament to the skill of the first owner and the talents of noted Cobra restoration artist, Bill Murray. Ordered by Tom Payne the equipment it still retains, including its original engine is amazing. Topped off with four downdraft Weber carbs, side exhaust, oil and differential coolers, scooped hood, wheel well flares, Halibrand wheels, competition brakes with cooling ducts, two fuel tanks, a racing bucket seat, chrome roll bar, Sun tach and fuel pressure gauge. Legend is that after taking delivery of the car Payne showed up at Mosport late and had time for just five practice laps in his new car. Not even taking time to change into his racing uniform, he drove the test laps in a shirt and tie, wearing only gloves, goggles and a helmet. He was placed at the back of the pack and went on to win that race and many other subsequent speed trials gaining the name Gentleman Tom throughout Midwest and central Canada. Car was also campaigned by Dan Gerber, Bob Grossman and Tom Yeager in a number of USRRC and SCCA events. Full history of the vehicle is chronicled and was used as late as 1984 in the Texas Can Am challenge with Carroll Shelby at the wheel. Restored in 1986 to concours condition it has been well maintained and featured in a number of publications.
Market commentary
One of the most important surviving original small block Cobras, to place a value on it would be tough, and evidently the $1.3 million offered just wasnt enough. At the same sale two real 427s changed hands for $1.0 and $1.1 million, shows there are some people who gotta have a Cobra and putting the sellers decision to turn down the reported high bid in question.