"Barn Find"- '93 Mustang SVT Cobra with 34 original miles- WWYD? - Ford Mustang Forum
 
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post #1 of 6 (permalink) Old 05-11-2017 Thread Starter
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"Barn Find"- '93 Mustang SVT Cobra with 34 original miles- WWYD?

I really don't know what to do here. Hopefully someone will chime in with some useful advice.

My father has rental properties (trying to sell them all off as he's getting older) and also flips houses with his crew from the church. There was a dilapidated property in a decent neighborhood owned by an eccentric man that the city calls "polite, but clearly insane". He was a higher up in the Air Force, involved in the B-2 Bomber project. Anyway the guy must have gone kinda nuts because he abandoned the property about 10 years ago and kept buying stuff on the internet and having it shipped to that house. He is a legitimate hoarder. When he was more sane and lived there, the neighbors called him "the bird man" as he kept exotic birds and had huge bird houses all over the place. Everything he bought was in multiples of 4. So 4 of this, 12 of that 16 of the other.

I am not exaggerating when I tell you that the house was 4-6 feet deep in new packages. At one point me and the guys realized we were standing on THE BACK of the couch and that was after digging down a couple of feet. The mail delivery man apparently had a key until he just couldn't get in anymore. No paths, nothing, just 4-6 feet of new stuff piled into the house. Brand new guns, very high end Hi FI tube equipment still in the original boxes, TONS of computer equipment (16 500GB Seagate HDDs) that must have cost a ton of money back in the day. In the kitchen were bins of different kinds of dirt. No idea about that. The guy either ate dirt or he had different kinds of dirt shipped in for the birds to digest their food. No idea.

Anyway we get into the garage and there is a Mustang in there with the plastic still on the leather seats and the window sticker still on there from 1992. In talking with a neighbor, we found that he custom ordered the SVT Cobra in Teal with gray leather in 1992 and drove it into the garage and never touched it. Just piled bags of landscaping dirt all around it. We had it flat bedded to the preacher's house where it sits in his garage. Ordered a custom cover for it and then did all the legal things like posting it in two newspapers, etc. The man actually called Dad about 9 months ago and said that he'd worked himself into a hole and could he buy the property back. Dad's a nice guy, but we've spent about 10k in just getting the crap out of there and fixing the roof which had leaked into the dining room. The man politely asked Dad "do you know how many miles are on that Mustang?" At the time Dad thought it was 34k because that's what one of the workers said as he was climbing all over that crap around it with a flashlight. Nope 34, original miles- never even titled.

What would you do with this car? I called the Mustang curator guy and he said to insure it for $100k immediately. Then I found a same year Cobra R in black listed for $99k in Chicago. Then I looked into the National Mustang Museum that's set to open this summer in Charlotte. But then again I see listings on Autotrader for low mileage cars in the low thousands for $28k on up. Confused as to what to do here.

We want to sell it. What to do here? Again it's in perfect condition. Plastic still on the leather seats window sticker still on the window. The local mechanic looked at it and said it would need a new fuel tank, new fuel pump, and all new hoses.

Barrett Jackson said to get it running and then run it through their auction. But that's a big risk as we're in the SouthEast and shipping and auction fees and all of that.

Again, What would you do? It is pristine as pristine can get. In my research this is the lowest mile and first year SVT Cobra on the planet, but I could be wrong. Sorry I don't have a picture but if you just imagine a teal green rolling off the production floor and then parked in a garage for this many years, that's exactly what it is. We washed it and it's perfect.

Thanks guys. Any info is appreciated.

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post #2 of 6 (permalink) Old 05-11-2017
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Sounds like a cool find! I have seen quite a few of the 93 cobras with under a 1000 miles on them, I think collectors grabbed some just to sit on them. With that said I think you would be hard pressed to get $100,000 out of it, I have seen a few in my area with under 20,000 miles asking high teens low twentys. In my opinion I would think you would be lucky if you saw $50,000 but there are always people with more money then common sense, best of luck.


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post #3 of 6 (permalink) Old 05-11-2017 Thread Starter
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Yeah I totally agree with you. I don't think it's worth anywhere near $100k. The one that I saw listed in Chicago was $99k but it was a Cobra R with 68 miles. I also see several listed with say 1-3k miles in the $28k-$35k range. My question for you all is what in the world to do with this thing? Don't you have to believe it's the lowest mileage FB SVT on earth? The only way for it not to be would be that someone had another one shipped to the dealer and then flat bedded to the guy's house. From what I understand it's 1 of 92 or so in that color combo with gray leather (still in plastic). Shouldn't that make it worth more? I mean even if we replace the gas tank, fuel pump and all the hoses, it seems like driving it around the block a couple of times would hurt the value. I have no idea on this! What to do! Thanks y'all.
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post #4 of 6 (permalink) Old 05-11-2017
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I would have to agree that you don't want to drive it, at this point those insanely low miles is where your moneys at but I can't help but think what a waste of a super cool car!

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post #5 of 6 (permalink) Old 05-11-2017
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Man that is an awesome find! I would kill to have 93 Cobra in that color.

Have you considered looking at other auction houses? Mecum for example.

There was a recent auction of low mileage Fox Mustangs and one of them (a 1990 Seven Up) went for over 60K, so I really think a 93 Cobra SVT could actually get more. Especially a car with that color, only 34 miles....

Take a look at this link... This is what these cars went for, and yours is THE MOST DESIRABLE FOX BODY MUSTANG.

Fox Bodies Pull in Big Paydays at Barrett-Jackson's 2017 Scottsdale Auction - OnAllCylinders

2015 50 Anniversary Package GT
2014 Race Red Premium GT Convertible
2003 Silver GT
1981 Ford Mustang Fastback
1966 Mustang Coupe 289 4V
15 years ago 1984 Ford Mustang Hardtop
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post #6 of 6 (permalink) Old 05-12-2017 Thread Starter
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Thanks everyone. I'm more excited about it now after seeing what Richard Rawlings and Dennis Collins are doing with their cars.

I'd have to think that this one is more rare than any of those.

I have some crappy cell phone pics now of it as it came off the flat bed to our house and then after it was flat bedded to our friends garage while we waited on getting the title. Our friend who is storing it for us is out of town for a couple of days but when he gets back we're going to roll it out in the sun and take some better pics. The steering wheel is still in plastic!

I'm not that familiar with forums. Anyone willing to let me email the pics I have now and let you post them? Or how else do I go about this?

Thanks!
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