By Dean Larson

Photos: Seller, Hemmings

At a glance you might dismiss this car, hell, I probably would. But under this rather unassuming exterior is a bona fide 1964 Shelby 289 Cobra in unrestored condition. Seeing as just 998 original Cobras were built from 1961 to 1968, not to mention the Cobra’s icon status, it’s safe to say cars like this one don’t pop up every day. So the obvious question is if it’s worth bagging this rare beast now, or if restoration expenses will put you upside down for the next few decades. Let’s dive in.

This 1964 Cobra is one of 655 leaf-spring 289 Cobras built by Shelby, and boasting the chassis number CSX2133 makes it a pretty early one as well. When new, she was finished in bright blue and was equipped with road-going accessories like a rear luggage rack and whitewall tires. According to the seller’s summary of the car’s history, 2133 was used as a test car in Sports Car Graphic magazine before being sold to its first owner. The car traded hands though the 1960s and ’70s, with much of its standard equipment being swapped out though those years. Besides losing its luggage rack and being swapped to Halibrand wheels, the car’s original engine was swapped for a different 289, the wheel wells were flared and some competition hardware was installed. The current owner purchased the car in 1984, at which time the car was refinished in its current shade. I used the term unrestored earlier, and while that's certainly true, the car's detailed history goes to show that it's far from factory original today.(See the seller’s listing for a complete rundown of the car’s known history)

As for the car’s current condition, it’s fair to say it’s showing a bit of age. The seller notes that the paint shows well, but exhibits a few flaws, especially on the truck around the filler area. There is corrosion present throughout the car’s underside befitting a car of this age, but all of it seems superficial or easily repairable. The interior is definitely due for refurbishment, and it’s worth noting that the dash has been recovered and the original Smiths gauges have been swapped out for Stewart-Warner units. The seller notes that the matching 2133 stampings are present on the trunk latch, front passenger side A-arm and the passenger side door hinge. An unrestored factory hardtop, side curtains and many spare parts are included in the sale.

So we’re looking at a car that’s been enjoyed over the years, as cars should be, but as such, many things have been altered or are in need of repair. Many of us agree that this car should really be returned to factory specification, but that's a tough call, as you'd be undoing a whole lotta history, not to mention the cost that comes with that sort of work. The seller is asking $925,000 for the car, which is pretty close to the mark when compared to Hagerty’s price index. Just a decade ago that would have been a hefty ask for a 289 car needing TLC, but as you’d expect, it’s probably not too far off these days. But buyers should beware, classic car restorations aren’t cheap, and even more so when you have a truly rare hand built car on your hands.

Check out the Cobra here on Hemmings Classifieds.