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SAAC: When do you think people

other than the original diehard own-

ers and enthusiasts got involved with

these cars? Was that when the values

began to take off?

SCUDDER: I don’t know. I think

there have always been some kind of

sketchy people when you would go to

different events; there were always

one or two people you would wonder

about. What their motivation was in

owning the car, and whether they were

really passionate about owning it.

They seemed to always be looking for

an angle of some type.

SAAC: It seemed to have some corre-

lation with the cars reaching some cer-

tain rate of appreciation, more than

someone could make in the stock mar-

ket or with real estate, art or Persian

carpets. This seemed to attract a cer-

tain type of person who was not really

a diehard enthusiast. When the value

of the car reached a certain point they

would sell the car and buy something

else; a Ferrari or a Porsche.

SCUDDER: I guess that is true.

Maybe I was a little stupid, but I never

really paid much attention to that

whole situation. You knew the cars

were going up in value. But then you

had 1989 when everything plateaued,

and then the bottom fell out.

SAAC: After that, into the mid-90s,

prices started to move back up. That’s

when you saw the increased interest

which came from a number of things.

One of them was the availability of in-

formation through the club and

through the registry. Details and his-

tory on Cobras were provable and

that’s when you started to see more of

these cars starting to show up at auc-


SCUDDER: Well, there was a point –

and I don’t know precisely what that

point was – but there was a point at

which Cobras achieved a value that

made them a legitimate automotive

collectible in the eyes of the people I

would describe as “big players.” If you

had a collection of twenty or thirty or

more cars, you pretty much ought to

have a Cobra in the mix became the

idea. When the big moneyed folks

started collecting Cobras that’s when

it really got worse. Prices started

going out of sight.

SAAC: You had to feel a little sorry for

some owners who couldn’t resist sell-

ing their car because, suddenly, they

were worth so much more than they

had paid for them. They represented a

house or a college education for their

kids and it was kind of tough to justify

keeping a car when you could ex-

change it for something like that.

SCUDDER: Or it represented the

ability to enjoy your retirement. I

know several people who have sold

their cars because they were ready to

retire and would rather have the cash

in the bank so they knew where they

stood, financially. And that’s terrific.

SAAC: At this point, you don’t see too

many people in their 60s and 70s buy-

ing these cars unless they already

have a lot of money and a lot of cars.

SCUDDER: They aren’t first-time

buyers, that’s for sure.

SAAC: We deal with an increasing

number of owners who are looking for

what we call “an exit strategy.” They


336 Fall 2015

Scudder had moved to the San Diego area and had CSX3042 at SAAC-27 at California

Speedway. The car was a concours winner and this photograph was deemed “cover qual-

ity” and appeared on issue #72