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Back when its original owner agreed to sell off the body and supporting tubing, the value of a 289 Cobra was at its low ebb. He was no longer driving the car and to him the offer made sense. Today, not so much.

A recent photo of the car.

Craig obviously had a true friend in the guy who agreed to sell it back to him if he wanted it, and actually did so 35 years later. Wow.

The white 289 (CSX 2171) sold for a hammer bid of $900k.

CSX 3118 was not completed last Shelby American until August. But it became a test-mule for quite a while, and the automatic transmission was installed at some point, along with a small turbocharger. Jim Benavides used it as a company car, and it was finally sold "as-is" to Bill Kolb in '68. He said he changed it back to a 4-speed and sold it but the car supposedly had an automatic in it when it was stolen some  time in '81.

CSX 3118 was definitely a 4-speed initially.

The 427 Cobra pictured could well be CSX 3118, which was a black prototype that was shipped to Shelby American in April of '65 and was one of the first cars completed, as well as the first black street car. Unfortunately, there is nothing on the cars' invoices that tells us which wheels these early cars were initially equipped with, hence identifying the car with any certainty might be tough.

Good thing I know where that 1N 013 tag is resting these days.

The round tail lamps the car used in the UK were changed back to the typical AC rectangular units at some point after its arrival in CA. When Mike Begley bought the car in the late '60s, it had the standard Cobra lamps. They remained on the car until Tony Branda changed them back to the round ones after researching the car's history in the UK.

Does anyone care to elaborate on CSX 3016? 
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+1  Either somebody got a smokin deal or possibly a questionable history?  Haven't had a chance to check registry.
[/quote]Same guy sold the 289 car for more $$$. Hmmm
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The latter. There are 2 different histories claimed for the CSX 3016 VIN.

It is my belief that the Daytona Coupe pictured at Reims in '65 using the IM 013 plate was CSX 2300 rather than 2299.

The red 427 Cobra pictured was CSX 3150, a narrow-hip street car sold through F.A.V. that went to the Brussels auto show in the spring of '66.

Interesting, helpful, the well thought-out responses. Thanks for your suggestions. And Earl, that appears to be a Cayman sitting next to the Cobra. I wonder how many people might own both?

Ned, this kinda looks like a NorCal car most recently purchased out of Gilroy.....now in Martinez ??

There was a black/red 289 in Gilroy (which they proudly proclaim is the "Garlic Capital of the World") some years ago. It had huge flares on it, bigger than these, and ended up being restored at Cobra Performance, which may as well be in Martinez. That car was 2225 but this one is different.

I agree with the various observations. I believe that it is a genuine Cobra, as I think what might be thought of as an oil pan is actually the custom exhaust pipe. A number of folks used the back bumper for their plate, especially if the car had received a hit and the standard holes had been filled. The flares have been rounded and enlarged, and the wire wheels are wider than standard. And the flares are definitely similar to those of 2206, which was David Seville's car. But this isn't it. There's lots that stands out on the car, which is why I hope someone might recall it.