It has always been said that careful ownership shows on any car, and there is probably a no better example of that philosophy than with this 1993 Ford Mustang Cobra. The condition is mighty impressive, and it is hard to believe that the car has been driven terribly often. When you discover that it has covered 60,000 miles, that’s a bit of a jaw-dropper. If you would like to own an extremely nice and fairly original Mustang Cobra, then you will find this one listed for sale here on eBay, and located in Melbourne, Florida. Bidding on this frisky Ford has reached $22,400, but the reserve hasn’t been met.
It’s pretty hard to find fault with the appearance of the Mustang from the good selection of high-quality photos provided by the owner. The panels look straight, the gaps are good, and that black paint does have a deep shine to it. Apparently, there is a spider-web crack somewhere on the lower rear that is about the size of a quarter, but this doesn’t show in the photos. Looking at this photo, it does appear as though the owner still has the car’s original window sticker, along with the framed certificate which verifies that this is an SVT Mustang Cobra.
The interior is one area that surprises me. I’m not surprised by the overall condition. What does surprise me is the fact that given how careful the owner has been about trying to maintain the vehicle’s originality, he has chosen to fit it with a Hurst shifter. It just looks out of place inside this car. Once again, leaving the shifter aside, the interior is original, and in excellent condition. It’s hard to pick fault with the tasteful grey upholstery, while the owner assures us that everything works exactly as it should. For that touch of luxury, power windows, power locks, a power seat, air conditioning, a sunroof, and the premium AM/FM cassette player are all there for your enjoyment.
The main benefits of the SVT treatment can be seen under the hood. Upgrades to the cylinder heads, the camshaft, and numerous other areas on the engine result in the little 302ci V8 pumping out 235hp. This is fed to the rear wheels via a Borg Warner T-5 manual transmission, while power steering and 4-wheel power disc brakes were also part of the package. Once again, presentation under the hood is pretty impressive, and the owner’s drive for originality extends to only using Motorcraft parts for maintenance and servicing. The only non-genuine item is the Magnaflow exhaust that has been fitted to the car.
There’s no doubt that this is a very nice car, and the condition is pretty hard to fault. How the Hurst shifter and non-standard exhaust impact on its value are pretty hard to say, although both modifications can be reversed fairly easily. If you like the Fox body Mustangs, then this might be the car for you.
Looks wise this is the perfect blend between a GT and an LX 5.0. Nice car.
One of my favorite Fords. Nice car
Nice but $23k? 63,000 isn’t low miles for one of these. In a normal market this is $13k or so. An additional sign we’re in a bubble market, as though we needed any more signs. Sigh.
Well, apparently not everyone agrees with you because the car is gone! Whether or not we are in a recession or are going to be, it sure has not affected this auction or any of the big name TV auctions. Mecum keeps setting new records and Barrett Jackson is doing OK too, although I don’t follow that one as closely. For the people who are ‘caretakers’ of any collectable car, truck, or motorcycle, the market matters as much as whether or not it is a sunny day or a cloudy one. THIS IS THEIR 401K, or their IRA, or whatever other investment strategy you want to quote here on a car site. And they LOVE it that way, because as opposed to sitting and watching a bunch of talking heads tell people what is going to happen in the stock market, (which they have exactly 0.0000 idea), these people are driving their investments. Loving their investments. Did you ever have sex in a car when you were growing up? Do you have good memories, or at least memories that can bring a smile to your face? Now, have you ever had sex with an investment? Ever screwed a 401K, or your IRA? How was it? I will stick with discussing CARS on this website, since it is called Barn Finds. And if I want to discuss money and investing, I would probably go find a website that does that. As far as I know, THIS IS NOT THAT WEBSITE. Have a good day. Enjoy your money.
I will enjoy my money. And since us taxpayers are increasingly being asked to bail people (and banks and companies) out of bad financial decisions, I just feel bolder than I used to in commenting on these things. Sorry. It might be your money but when you need to be rescued later, it falls on everyone else. So it’s a valid observation.
Well John, You are right about not know when the recession is going to hit. It does however do hit every decade though. History always repeats itself. Since it’s been ten years and interest rates are up, I’ll wait a bit before buying. I also will buy quite a bit of classic cars instead of full price when it does happen. That’s how the cycle works. Of course, people can pay whatever they want. Cheers.
You will never touch a nice 93 Cobra for 13k. Those days are long gone buddy.
Want to bet me ;-) Maybe not today but economies are always cyclical.
Sorry to break the news to you, but clean ’93 Cobra’s with this kind of mileage are garnering this kind of money. $13K is not remotely close to anything but well used high mileage (100K + miles) cars that need work and then some.
The trend has shifted to 80’s – 90’s muscle. For several reasons price of entry is relatively low and driving one of these is more in alignment with driving current generation cars. Driving old muscle is well driving old muscle. That is why vintage muscle is waning in the market place, high prices for cars that mostly languish in garages due to the effort of pulling it out and driving it and dealing with the idiosyncrasies of an old car. The higher value of vintage muscle reduces the comfort level for most owners of just driving it and not worrying about leaving it in a parking lot somewhere while you go inside to conduct whatever business. So, plan on spending more and more of these type of vehicles as 80’s – 90’s muscle gains more traction in the market place.
My advice, if you want one then now is the time to buy. This is last of fox-body and one of the best models Ford had to offer. There is gobbs of power to pull from that 5.0 if new owner chooses to do so. If I were on a different financial situation,I would be in on the bidding. I shall have to wait.
My advice would be the dead opposite. I would wait for the economy to go down, as this car’s value will be about half of the current $23k, much less the final price which will probably hit $30k the way the market is currently. That’s very near what you can get a brand new Mustang GT for.
But I guess only time will tell which one of us is right! I’ll bet I am but I don’t have a crystal ball. But when people start saying “buy now so you don’t get left out!” that is usually a sure sign of impending doom.
Our buddies at Hagerty think $23K is the top.
If you’ve ever played in a hot market, real estate or otherwise, you will know that a value guide simply can’t keep up as it’s looking backwards. I think this thing will get very close to 30. I guess we’ll see.
Actually I should have been clearer. $23K is Hagerty’s 5 year projection.
I agree. When the recession hits, watch the car market flood with nice cars. People will be desperate for cash so you can snag up some nice cars at lower prices. Everything is inflated right now.
Thanks Ike. What do they have for current value? And what condition and mileage is that projection for?
This is a very nice car but the problem is is that so many people socked these things away that 63,000 miles is actually pretty high for this model. So when you go to sell it, you’ll be competing against cars with way lower mileage.
I once sold a 1991 Z28 with similar miles in a cooler (i.e. normal) economy so I know firsthand. It’s a big disadvantage and people will pass over you unless you lower the price substantially below the lower mileage cars.
So this will probably end up falling down on the lower end of the projection spectrum at the end of the day.
I will not need to be bailed out, I’m retired and enjoying my life. I also enjoy reading about CARS on Barn Finds, and not the free financial advice that is worth exactly what it is being charged for: Nothing.
Peace. Johnny Joseph
And this red Cobra R SVT just sold at Barrett Jackson in January in Scottdale for $132,000! Poor guy doesn’t know about the recession. But I bet he enjoys driving his investment. The irony is that the people who buy these cars are not even worried about losing their initial buy price OR how much they make when they are done being the ‘caretaker’ of that vehicle. Their number one concern is that the next person enjoys the vehicle as much as they did. It’s called quality of life. Are you one of those people who has a suitcase full of money in your attic with the thought that when you die, on your way to heaven you can go up through the house and grab that suitcase and take it with you? Because I have some bad news for you if you are. 99.9% of ‘those people’ should have that suitcase in the basement! If you get my drift…
@Super- My apologies to you and all BF’ers. I mis-read the chart on Page 25 of the March/April 2019 issue of the Hagerty magazine. They list #2 Condition 1993 Mustang SVT Cobra with a current value of $30,000 and a five-year projected value of $50,000. Perhaps that is why the reserve has not been met.
Are those rims legit to the car? Looks like T-Bird rims with different center caps to me.
Those are the 93 Cobra rims as I remember them. A kid I worked with had one in the late nineties. It was a cobalt blue color and had these rims.
Yup, the rims are correct. These cars only came in black, red, and the blue you mention. The only alterations I see is the catback(everyone does that on these) the hurst shifter, and the cupholders. They are called a “plug n chug”. Fits in place of the ashtray so nothing was hacked up, and they just pull right out.
I own one like it with 40,000 miles and from what other people tell me about mine,I believe the market for the 93 SVT Cobra will not be dropping even if a new GT cost ONLY upwards of 39K. This is a very nice car listed here on barn finds, and I will bet you will see the price go up several thousand dollars more when it sales…
I was actually recently in the market for one of these, and after looking, I am now focused on 2007-09 GT500’s or a 2012-13 Boss 302’s with similar miles at a low to mid $20K price point. Even nice 1990’s GT’s are approaching this amount, and there is no way I would ever choose a 1993 GT/Cobra over a 20 year newer 2013 Boss 302…EVER (unless the Lotto numbers came in and I was adding one of each to a collection) I am in no way snickering at the sellers, but after I looked at the market, I no longer have interest, and I will move on to better and future collectible Mustangs. So much selection in the S197 platform 2007 up to 2014, Shelby’s, Boss’, Bullitt, GT’s all in the low to mid $20’s.. And by the way this is not the last fox body. The 1994-95 Cobra’s still had the same 5.0L engine as this car featured, and then it went modular 4.6L in 1996-2004. Still fox body until the S197 in 2005.
Wow, Mr Gasoline..You definitely don’t no much about the fox body mustang if you did you would know they were no longer built after the 1993 model year. Just because another mustang has a 5.0 engine does not make it a fox body mustang or an SVT Cobra.I am not trying to make you look bad but most people know what a fox body is, I have owned fox bodies and everything after them.You might find yourself a early 2000’s Bullitt for the price you mentioned and maybe even a high mileage 07 or 08 Shelby gt 500, but you will still not have the one and only fox body Cobra. The 93 SVT Cobra is all alone, and you would have to really know what they are and what they mean to people before you could appreciate one. I hope I am not sounding to arrogant because I don’t mean to be but I felt like I should speak for the me and the other 93 SVT Cobra owner’s about this.I don’t know how many other 93 owners felt this way but I believe most feel the same.This one that is up for sale, is an awesome car and will bring top dollar.Good luck to the seller. Remember This is not a Personal Attack on anyone… Thanks
Seems to me the fox platform continued through 2004…
Hi Jimmy,
No offence taken, but I would suggest you do some more research. Just because you own one (as have I – ’86 GT) doesn’t make you an expert. The 1994-2004 are remodeled, but still fox body. Do you consider the 2/4 door Fairmont a Fox body, from which the 1979 Mustang was born? Everybody else does. The Fox body is a platform, not sheet metal. The 1994 is all curvy compared to the slab sided 1979 to 1993, but they ride on the same structure – Fox underpinnings. I don’t care so much Fox or not based on personal opinions, as 1993 was design wise the last of that exterior theme, but it is very well documented by the industry, and car magazines at the time that Ford just updated the Fox (continuously) until the all new S197 platform came out in 2005. Just like the 1993 was much improved over the 1979 over the years.
Dollar for dollar a 2012-13 Boss 302 is much better value than a 1993 Cobra. A 1994-95 Cobra with the same 5.0L as your 1993 is a good $10 grand less, and also better value. It all comes down to what the market will pay, and I for one have decided not to and to move onto other options within the Mustang corral.
I doubt there is much ceiling above where they are priced today, and unless it’s a Concours quality example with very, very low miles, prices have remained pretty flat since 2016 and this is coming directly from Hagerty. It’s very much like a Buick Grand National, the good to very good example pricing are what they were for the last 10 years taking inflation into account. The car featured didn’t sell at $25,200 bid because of reserve not met. For a 69K miles example, the seller has overrated the market value.
Very good.Just know that Ford built one year and one year ONLY of the fox body SVT Cobra…:) :)
Also if you want to look at this you can go to dust runners auto.com and then dust runners automotive journal ,next to 8reasons why foxbody is best muscle car ever. As I said before you will then see that the fox body mustang was built from 1979 thru 1993.After 1993 it had MOST of the fox body undercarriage but was no longer THE FOX body, it was no longer call the fox body. I do know quite a bit about these cars and not just because I own one now. Most millennials don’t know what a fox body is if you ask them.Remember the 1994 was only “based on the fox body platform”.I am not trying to argue with you ,I just think you should read more carefully about the fox body and not something that is based on it. I hope this helps you to understand what I am saying.Again I am not trying to be mean,just hoping I might get the facts realized.Thanks again for reading my response…
I think you are assuming way too many things on who I am and what I may or may not know. For someone who doesn’t want to get personal, you’re blowing a lot of hot air.
I appreciate many cars and do not have my blinders on for 1 brand or 1 particular model. I’ve owned and own, Ford’s, Chevs’ and Dodge’s. Truthfully I like the ’93 Mustang, and it’s a car I would like to own again, after buying new a 1986 Mustang GT COBRA, but it’s not something that is a halo car equal to say a GNX of which only 500 were built. I would say that for the time period of 1993, the Camaro Z28 had the Mustang beat hands down with a 40 hp advantage @ 275hp, and all the magazines such as Car and Driver, Road & Track, Motor Trend, etc, always picked the Camaro Z28 when it was a head to head comparison.
I agree as I’ve owned both.
It’s a car that was OK (maybe a bit better than OK) at the time all things considered, but you must REALLY want one to buy one for $25K+, because you can buy a lot of waayyyy better Mustangs, 15-20 yrs newer for the same coin, such as a 500hp GT500, or a 444hp Boss 302. It’s not so much the ’93 Cobra is over valued, it’s the newer models are so inexpensive, and for me the choice is clear.
Thanks and I do hope you read what I sent on the fox body…
All this fox body talk has me pining for a Mustang ll..
Love it man…
I don’t why this car has suddenly brought a lot of talk about Camaro’s and GNX’,s and other cars that have nothing at all to do with this 93 Mustang SVT Cobra FOX BODY. All my comments are about the car listed not another brand or another type of this car.This man, has a beautiful 93 cobra and that’s it. A wonderful 1993 Fox body The one and only year and last of the fox body SVT COBRA’s and I hope he gets a Big amount for his car. A happy “Barn Finds” reader…
Geez guy, let it go already.
I’m done…
Well, I tend to see it like Gasoline. If you can get new and better, why not. And that 93 SVT Cobra engine on a Foxbody is better than the Zephyr Z7 and Ford Durango 3.3 engines in which I used to own. Now, I own a 90 Mustang LS with a 2.3 turbo coupe swap which used to have the 2.3 non-turbo. It’s a clean car, and zips right along.
Most people consider the fox body 79-93, as well as the fairmont/zephyr it was based on. The 94-98 were referred to as SN-95 and the 99-04 as SN-99 I think. I can use suspension parts from an sn-95 on my 83 capri though. Springs are pretty much the same. The spindles and brake assemblies will bolt right on. It’s pretty much semantics. The underpinnings were basically an updated fox body on the 94, but it’s been pretty commonly called the SN-95 for as far back as I can remember. I don’t know anybody who refers to the 94-04 cars as a fox body, nor do any of the aftermarket parts suppliers. Go through any Summit or LMR catalog and it’s pretty clear. The SN-95’s have a lot less interest right now, and could end up like the modern version of the II. Where it was outshone by the version before and after it. Nobody is asking 30 grand for a 50k mile 95 cobra unless it’s an R. To me that makes the 93 cobra the last fox body.
I have never seen more minutiae about a car on this site before in my life! PLEASE STOP!!!!!