There was once a point in time where the Fox-Body Mustang had become a forgotten classic. Canny buyers could pick them up for a song, but those days are rapidly fading into the past. Today, good examples will command a healthy price, and that makes finding one like this 1993 Mustang SVT Cobra a rare treat. That is because this is a classic that is being offered for sale with No Reserve. It is located in Roswell, Georgia, and is listed for sale here on eBay. Bidding has reached $20,600, and it is only a matter of days before someone new gets to park this beauty in their driveway.
The ’93 SVT Cobra was only offered in three colors, and this is 1-of-1,079 cars produced with Black paint and a Grey leather interior. The owner only recently purchased the car but has now found that he doesn’t have the time to get out and enjoy it. Rather than letting it languish in his garage, he has chosen to part with it. The car presents well, although the photos of the driver’s side aren’t that clear. The Black paint holds a beautiful shine, with no significant flaws or damage. The panels appear to be straight and true, while the gaps are tight and consistent. The Cobra wears all of its correct aerodynamic additions, which were a part of the SVT package, and these pieces seem to be free from damage. The car rolls on its original 17″ directional alloy wheels. These are a component that can be highly-sought by owners of other Fox-Bodies, so to find these to be present and in excellent condition is no bad thing.
With Ford being fully aware that the Fox-Body’s production run was nearing its end, they chose not to throw a bunch of money at the Mustang to develop bespoke mechanical components for the SVT Cobra. However, Ford’s parts bin was loaded with items that could be brought together to create something special. To that end, they took the venerable 5.0-liter V8 and “breathed” on it. The standard cylinder heads were swapped for GT40 items, while the intake, exhaust, and other items all came in for attention. The result was a V8 that was claimed to produce 235hp. Of course, Ford didn’t want to incur the wrath of legislators or the insurance industry, so there is a school of thought that says that this figure was somewhere below reality. Figures closer to 255hp are often quoted, but regardless of the truth, the result was a car that began to recapture the mojo of Mustangs from the 1960s. The rampant ponies from that V8 are sent to a 3.08 Traction-Lok rear end via a Borg Warner T-5 manual transmission. The suspension was suitably upgraded with different springs and shocks, while proceedings are brought to a halt by 4-wheel disc brakes. Did that make this a fast car? Well, I would hardly call a ¼-mile ET of 14.5 seconds shabby. The owner claims that the Mustang has a genuine 77,000 miles on the clock but doesn’t mention supporting evidence. I can see that the distributor has been swapped, but there are no other apparent changes. The vehicle is said to run and drive well, and the seller does welcome inspections by interested parties. That suggests that he has nothing to hide with this classic.
Buyer in 1993 had a choice of three different trim combinations, and this one features Opal Grey leather. If there is one area of the Fox-Body Mustang that can suffer over time, it is the interior trim. The SVT Cobra is no exception, but this one is generally pretty good. The door pockets have developed their characteristic sagging, but an upholsterer can address this with some new elastic. The carpet is looking worn and dirty under the driver’s seat, and this may need to be replaced if mats can’t be used to adequately disguise the problem. Surprisingly, there is no appreciable wear on the outer seat bolsters, which is a plus, because this is a known problem area. The original stereo has made way for an aftermarket CD player, but the rest of the interior is untouched. In a 1993 context, the interior does come nicely equipped. The new owner will find themselves with air conditioning, power windows, power locks, power mirrors, a power driver’s seat, a leather-wrapped wheel with an airbag, and cruise control.
While classic car values generally head upwards, 2020 was not kind to some models. The 1993 Mustang SVT Cobra was not one of those that were negatively impacted by a rough year. Values across the year rose by an impressive 8%, and it means that a pristine car can sometimes hit $60,000. A really nice example will generally cost somewhere north of $40,000, so it will be interesting to see what this one ultimately sells for with no reserve to consider.
Don’t really understand the sky high value of these. Its mid-14 second quarter mile time is exceeded by many pretty humble modern cars and even its main competitor at the time, the LT1 Z28, which can be had for under 10k for a mint one. The chassis was dated even for 1993.
This shows that some cars take on mythical properties that exceed the reality, and that it’s difficult to calculate what’s going to be collectible and what’s not.
No VIN stickers on fenders, aftermarket hood insulator and belt tensioner. This one would require a good inspection.
Is it me or are these Cobras coming up much more often recently?
I was just thinking that. I haven’t done a formal survey but it makes sense. These are not all that rare and many were socked away, and people are paying ridiculous prices for them. So if you have one, this might be the time to sell it.
Not rare??? Only 4993 were made for one year only. Figure the survival rate after almost 30 years, probably leaves a little over half left. I mean yes, its not a Boss 429, but still very rare.
No not rare. I own an E36 BMW M3 sedan with a manual. They built 4,574 of those. I would get laughed out of the room by BMW enthusiasts if I tried to claim that was rare, and the value reflects that.
And that is magnified here because out of those 4,993 Cobras, probably 4,000 are still around, many with low miles.
You know nothing about Mustangs, but thats ok.
Oh wow are numbers different in Mustangland? I’m sorry. Hopefully that can make the price come down!
Agree with Andy and super. People have been holding them and see a good chance to make some money.
Better deal than a rusted out dodge charger.
Stock these are not as fast as many other cars that are way less expensive. My GMC typhoon would routinely put my friends 93 Cobra to shame in the 1/8 mile. Every Mustang owner thinks they can drive but they constantly get loose and have to pedal out. Fun cars to do donuts in but a stock mustang would be my last choice for a street racer.
I like Fox Mustangs and owned a ’90 LX 5.0 5-speed vert for 13 years. Fun car, but I would never pay $20k plus for one when S197 GTs can be had for under 10 grand all day long. Much better value than a Fox.