Heroshot

1998 Ford Mustang

SVT Cobra Convertible
Mecum Orlando 2021
Wednesday, 28 July - Saturday, 31 July 2021
$26,400
Sale Price
Yes
Reserve
30 July 2021
Sold Date
F58
Lot Number
#2-
Original
Mecum Auctions
Auction House
Chassis no. 1FAFP46V4WF144078. Canary Yellow with black graphics over black leather. 281/305hp, 5-speed, SVT alloy wheels, fog lights, CD/cassette stereo, power seat.

Evaluation: Represented with 22,486 actual miles. Good original paint aside from a few small scuffs on the nose. Tight-fitting top with clean rear glass. Deep wrinkles to the seats but no issues to the interior. Lightly used, well-kept, and fast for a car from 1998. While the standard Mustang GT came with 225hp and 290 lb-ft from the 4.6-liter Modular V-8, SVT was able to milk out 305hp and 300 lb-ft in the Cobra.

Bottom Line: For the most part fourth gen Mustangs are just too new and too common to really be collectible, but brightly colored, low-mile performance variants like this Cobra are rare standouts and if this price is any indication they’re finally starting to catch on and swing upwards a bit. As always, though, it’s worth noting that this car’s sale price here is still short of its 28 grand original MSRP, and that’s before adjusting for inflation.

by Andrew Newton
10 August 2021
Hagerty
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Condition definitions
Condition #1: Concours
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is “concours.“
Condition #2: Excellent
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is “excellent.“
Condition #3: Good
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. “Good” is the one word description of a #3 vehicle.
Condition #4: Fair
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. “Fair” is the one word that describes a #4 vehicle.
Condition #5: Poor
Running, but battered, incomplete, and perhaps rusty.
Condition #6: Parts car
Parts car.
N/A
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.