Roush Value of a '98 Saleen Cobra?

wsbrigham

wsbrigham

New Member
Jun 2, 2005
320
0
0
Albuquerque, New Mexico
#1
My friend is selling his '98 Cobra Saleen and was wondering what you think the car is worth? I've rode on the car and it definitely pulls!!! I'm thinking it would be a nice addition to the garage....

Details:
'98 S281 Yellow Saleen Cobra Coupe (think it is production # 75)
22,000 Miles
1 Chip on the front bumper; otherwise flawless paint
Vortech S-Trim Blower
540+ RWHP
Magnesium Wheels (seem to have been repainted; definitely not flawless)
Roll Cage
Leather Saleen Recaro Seats
Long Tube Headers

The asking price is $23,000

So, any thoughts/comments?

Thanks!
 

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#2
The latest NADA values for a 1998 Saleen S281 Cobra coupe are as follows:

Low Retail = $17,100
Average Retail = $21,400
High Retail = $22,700

Therefore your friend's asking price is a bit optimistic for the current market. Pre-2005/06 Saleen values really took a hit a few months ago. I purchased my 4800 original mile '98 Saleen Cobra Speedster in July for what was then the Average Retail of $25K. Not a month later the values dropped about $2K - $3K. S351's took an even bigger hit for whatever reason(s).

Also, the modifications to your friend's Saleen would also mitigate against its resale value as modified vehicles normally are not as desirable to a prospective purchaser unless those particular modifications are exactly what someone would want on the car.

I speak from personal experience as my '89 Saleen had just about every bolt-on modification available for a 5.0 Mustang. Despite the fact I was the original owner, the car was fully documented, had very low miles & was meticulously maintained, it took a couple of years to sell it. Even when someone did finally purchase it, the sales price was well below my asking price even after dropping my price several times.

However, if you really like the car & want it for yourself, go for it.
 
#3
wsbrigham said:
My friend is selling his '98 Cobra Saleen and was wondering what you think the car is worth? I've rode on the car and it definitely pulls!!! I'm thinking it would be a nice addition to the garage....

Details:
'98 S281 Yellow Saleen Cobra Coupe (think it is production # 75)
22,000 Miles
1 Chip on the front bumper; otherwise flawless paint
Vortech S-Trim Blower
540+ RWHP
Magnesium Wheels (seem to have been repainted; definitely not flawless)
Roll Cage
Leather Saleen Recaro Seats
Long Tube Headers

The asking price is $23,000

So, any thoughts/comments?

Thanks!
Click to expand...


Email me more details and pictures to [email protected]. I may be interested. Thank you.
 
#7
SVT Saleen said:
The latest NADA values for a 1998 Saleen S281 Cobra coupe are as follows:

Low Retail = $17,100
Average Retail = $21,400
High Retail = $22,700

Therefore your friend's asking price is a bit optimistic for the current market. Pre-2005/06 Saleen values really took a hit a few months ago. I purchased my 4800 original mile '98 Saleen Cobra Speedster in July for what was then the Average Retail of $25K. Not a month later the values dropped about $2K - $3K. S351's took an even bigger hit for whatever reason(s).

Also, the modifications to your friend's Saleen would also mitigate against its resale value as modified vehicles normally are not as desirable to a prospective purchaser unless those particular modifications are exactly what someone would want on the car.

I speak from personal experience as my '89 Saleen had just about every bolt-on modification available for a 5.0 Mustang. Despite the fact I was the original owner, the car was fully documented, had very low miles & was meticulously maintained, it took a couple of years to sell it. Even when someone did finally purchase it, the sales price was well below my asking price even after dropping my price several times.

However, if you really like the car & want it for yourself, go for it.
Click to expand...

Thanks for the info!!

I decided to pass on the car because I bought an '05 Saleen SC today. I guess I just can't make up my mind.....

Best Regards,
 
#8
The car should probably sell in the $17k range right now. In the spring it might go up. Adding the blower shouldn't hurt value but, it won't ad it either. It is a horrible time to sell a Saleen. It is a rare and desirable car but, people just aren't paying the money for the later-model cars right now.
 
#9
They made 11 Cobra Saleens coupes in 98. I'm having a hard time believing it isn't worth more than 22k. Was it not factory supercharged? These cars are more rare than the S351s. Mine is factory supercharged and puts down 484 RWHP. I wouldn't trade it for a new one. Car pulls so hard I can't believe it.

I think its a steal. #66 just sold on Performanceautosport for $29k. My $.02.
 
#10
Apollo 13 said:
They made 11 Cobra Saleens coupes in 98. I'm having a hard time believing it isn't worth more than 22k. Was it not factory supercharged? These cars are more rare than the S351s. Mine is factory supercharged and puts down 484 RWHP. I wouldn't trade it for a new one. Car pulls so hard I can't believe it.

I think its a steal. #66 just sold on Performanceautosport for $29k. My $.02.
Click to expand...

Well, believe it.

Those NADA values quoted above are not fictional; they represent the current national market value based on sales & auction prices.

As others have discussed on this site, pre-05/06 Saleen values have dropped significantly this year. The popularity of the new cars has not lifted the value of the older cars; it has depressed them.

#66 may have been an exception to the rule. It was in absolutely pristine condition & a magazine feature car. However, the previous owner had been attempting to sell it for a year or more on multiple websites, not just on PAS. He lowered the price several times during that period & the price listed on PAS is not the sales price; it is the last price the owner had advertised the car. Mark @ PAS does not list the actual sales prices of the vehicles on his site.

Saleen S281's were not factory supercharged. Saleen did offer a Vortech supercharger as an option that was either installed directly by Saleen or by the original selling dealer. Only the S351 SR, S351R & later S351's came with a Vortech supercharger as original equipment.

Another exception to the rule was 98-096 which was a Cobra Speedster that recently sold to a gentleman from Denmark. He paid $33K for it. Similar to #66, it was an absolutely pristine, low mileage car with the Saleen optional Vortech. The new owner really wanted the car (not surprising) so he paid well above the current market price.

Does this mean that based on these two sales that the values of Saleen Cobras will automatically increase? No, as there are always market aberrations due to individual cars & purchasers.

As S351R Animal said, the values may change after the first of the year; they may go up, they may go down. It's all a matter of how badly someone wants to sell their car & how badly someone else wants to own it.
 
#11
They just aren't bringing the money that they should bring right now. None of the S281 cars prior to 99 except the SA-15 were supercharged from the factory. You could order a blower with them and the dealer would install it. For Saleen to do it factory they would have to get it emissions certified separate from the Ford certification. They only did that on the S351 cars. The car on PAS had less than 6K miles on it. It has been for sale for almost two years. I am amazed that it sold for that! I would love to have one but, I'm a 351 addict!
 
#12
I know they were'nt "factory" supercharged. Apparently though Saleen has records that show which cars had Vortechs installed at time of purchase. These cars should, could, would, bring more $ than the cars without them, or cars that had them installed by others. I've owned 2 S281s with Vortechs, and Liz said both were installed when new. The cars had paperwork showing a dealership in Ca. did the work.

Anyhow, what a shame the price is dropping like that.:( Hopefully we're doing this as a hobby not an investment. At least not any more.
 
#15
I bought mine in July and was sad to see the big drop right after I bought it. My car isn't extremely low mileage, and was/is a daily driver so I didn't pay top dollar for it thank goodness. I really like the car so I guess that's all that matters. I think the correct number of '98 Cobra coupes is 14. You have to believe with that kind of numbers that the collector value will be there for them some day. Does anyone know if they kept a color breakdown of the cars? I've looked but haven't see anything anywhere.
 
#16
I haven't seen a color breakdown before. Liz could probably tell you what it is. There was a yellow 98 Saleen Cobra a few miles from me that had a vortech installed. I don't think it has more than 5K miles on it. It had an SR wing on it. I haven't seen it in a few years but, the guy never drove it. I would be curious to know if they made one in bright atlantic blue?
 
#17
That would be awesome to find out, if somebody does end up finding out I think that they should post it. Mines black and only has 7900miles on it, granted i'm going to start driving it alot more, which brings me to my next question, is it bad to drive this car as a everyday driver?? Granted gas and all, but I'm just curious..
 
#18
OK...so just in this thread we have

1 black
2 yellow
1 red

There is a white one on corral with a rebuilt title. That's 5 of the 14....over 1/3 of them. Could probably search the forum and find a couple more. Seems to be a pretty good variety based on that group though.

As for driving it....obviously it will decrease the value. But it just depends on if you have the money and time to sit on it for the next 20 years and see where the price goes. That's my opinion anyway. I like driving mine!!
 
#19
1998 -
14 coupes - 5 Yellow, 5 White, 2 Laser Red, 1 Black, 1 Atlantic Blue
21 convertibles - 7 Black, 6 White, 3 Yellow, 3 Laser Red, 2 Atlantic Blue

If you want them I've got the color breakdowns for all the years.....:D
 
#20
S281Cobra said:
1998 -
14 coupes - 5 Yellow, 5 White, 2 Laser Red, 1 Black, 1 Atlantic Blue
21 convertibles - 7 Black, 6 White, 3 Yellow, 3 Laser Red, 2 Atlantic Blue

If you want them I've got the color breakdowns for all the years.....:D
Click to expand...


Very cool. I have looked and looked for the breakdown. I would be interested in seeing all years, I'm sure others would be as well.
 
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