Ford’s Shelby Cobra concept hammers for $825,000 in charity sale

(Editor’s note: Several days after the auction, retired Ford executive Chris Theodore told Automotive News that he had purchased the Cobra concept car at the GAA sale. Theodore had been part of the team that created the vehicle.)

A 2004 Ford concept car created as a modern interpretation of Carroll Shelby’s original Cobra sold for $825,000 (hammer price) this past weekend at the GAA Classic Cars auction in Greensboro, North Carolina.

All proceeds from that sale were earmarked to go toward the restoration of Fair Lane, the Dearborn, Michigan, estate built in 1915 as the home of Henry and Clara Ford.

The car has a 6.4-liter V10 engine capable of pumping out more than 600 horsepower and in excess of 500 pound-feet of torque, but because the car was built as a non-production concept vehicle, Ford was to render it “not drivable” before it was delivered to the winning bidder.

While the concept car was the star of the auction, it wasn’t alone in selling for six figures. A 2013 Ferrari 458 Spider hammered sold for $185,000, a 1956 DeSoto Fireflite Indy pace car brought $175,000, a 1989 Porsche 911 Turbo went for $140,000, and a 1970 Chevrolet Chevelle LS6 and slant-nose 1987 Porsche 930 also hammered for at least $100,000.

GAA doesn’t report overall sales totals, but the auction did post a 64 percent sell-through rate. It also reports the results for each vehicle on the docket on its website.

“GAACC presented our widest variety of vehicles to date,” Jerry Baker, the auction house’s general manager, said in a statement. “We had our largest selection of European imports and Fords along with the privilege of offering the 2004 Ford Shelby Cobra Concept vehicle that sold for $825,000 to benefit Fair Lane.”

Top 10 sales, GAA Fall auction 2017

1. 2004 Ford Shelby Cobra concept car, $825,000
2. 2013 Ferrari 458 Spider, $185,000
3. 1956 DeSoto Fireflite Indy pace car, $175,000
4. 1989 Porsche 911 Turbo, $140,000
5. 1970 Chevrolet Chevelle LS6, $105,000
6. 1987 Porsche 930 “slantnose,” $100,000
7. 2006 Ferrari F430, $95,000
8. 1963 Chevrolet Corvette coupe, $91,000
9. 2012 Audi R8 roadster, $90,000
10. 1969 Chevrolet Camaro Z28 custom, $80,000

(Hammer prices reported do not include buyer fee.)

GAA’s next sale is scheduled for March 1-3, 2018. Baker noted that the sale will featured 15 cars at no reserve from the Gary Copeland Collection, which showcases 1932 and ’34 Fords.