Ultra rare Cobra car once worth £500 is now PRICELESS – the only car of its kind in existence today

A ONE-OF-A-KIND vintage Cobra sports car, once bought for a mere £500, has now reached the pinnacle of automotive prestige and become virtually priceless.

This ultra-rare Shelby Cobra 427 Competition edition, the last of its kind, is set to dazzle classic car enthusiasts.

It joins the world’s rarest motors at the prestigious Concours of Elegance at Hampton Court Palace this September.

Back in the early 1960s, AC Cars, a British company, produced this beastly beauty, equipping its traditional sports car body with a roaring V-8 engine.

This powerhouse allowed the Cobra to reach a blistering top speed of 190mph.

A performance so fierce that it reportedly led to the introduction of motorway speed limits in the UK, after one was caught doing over 180mph on the M1.

Only 19 of the 427 Competition models were ever made, making this car the stuff of legends.

Originally sold for just £500 in 1966, its value has since skyrocketed, with collectors now considering it priceless.

After a life on the racetrack, this particular Cobra spent 35 years in the National Motor Museum in Beaulieu, quietly waiting for its moment to shine again.

Now, it will take centre stage alongside 60 of the world’s rarest cars at the Concours of Elegance, which runs from August 30 to September 1.

A spokesperson for the event expressed their excitement, saying: “The Concours of Elegance is delighted to announce the latest star car that has joined its 2024 line-up:

“A Shelby Cobra in ultra-rare 427 Competition specification, which is the only car of its kind in existence today.

“This special machine with a fascinating backstory will join the lineup of the world’s rarest cars.”

But it’s not just vintage Cobras that are experiencing a surge in value.

New rules introduced last year could mean your old car is now worth a small fortune as demand for older models rockets upwards.

London drivers are opting for classic cars to swerve the upcoming ULEZ charge, set to be expanded by mayor Sadiq Khan to cover all the capital’s boroughs next week.

Dealers across the city have reported a spike in sales of motors made before 1983, which are exempt from the £12.50 charge as they are classified as “historic vehicles.”

Merlin McCormack, owner of Duke of London, a vintage car dealership based in Brentford, noted the “ironic” surge in sales, highlighting that while these older vehicles are exempt from the charge, they are actually more polluting than modern cars.

He added that ULEZ has become a major factor for most Londoners when purchasing a vehicle.

The resale and auctioning website Car and Classic currently has several vintage cars for sale that will be exempt from the charge.

These include a 1972 Austin Mini priced at £20,000, an Alfa Romeo 2000 from 1973 at £12,000, and a 1970 Hillman Imp Super for £9,500.

As London’s expanded ULEZ scheme, which incorporated all 32 boroughs, came into place, classic car dealers are bracing for even greater demand.

Gary Short, managing director of Classic Chrome in Mortlake, pointed out that many people are unaware these older cars are also exempt from road tax.

David Peter, from the Classic Car Company in Mitcham, said: “I do think that people are weighing up various different options about adding a car to their collections.

“There is a heightened interest at the moment and people are aware there is a loophole effectively.”

As the 40-year exemption window continues, the allure of classic cars like the Shelby Cobra only grows stronger.

Even F1 stars like Lewis Hamilton and Lando Norris, both proud owners of Cobras, would likely never get their hands on this last remaining 427.

This September, all eyes will be on Hampton Court Palace, where the Cobra will once again strike—this time not on the track, but in the hearts of those lucky enough to witness it.

Meanwhile, whilst it may be hard to snap up this snazzy classic, for a bargain price you can now pick up a motor that was dubbed “Japan’s Ford Capri”.

The model was ranked among the top 100 cars in history by the former Top Gear star in a 2001 special film.