Evaluation: Good recent repaint. Older upholstery in good condition. Decent chrome and a good largely original engine compartment. The catalog records the engine horsepower as 260hp, an unlikely strong 260 V-8 and probably a typo for the correct 164hp. Known history from new and a real car.
Bottom Line: This Cobra sold for $577,000 by RM at Arizona in 2020 but has been recently repainted and updated with a more correct presentation since then. It’s a real early Cobra that’s never been stolen, disassembled or banged up and despite being below the low estimate this is a healthy price for the early (and less valuable) 260/164hp engine and worm-and-sector steering.