What would you pay for the third FPV GT Cobra of 400 units built? Shannons, the auctioneers running the Sydney Winter Auction Monday of next week (July 21), expect the collectible car to fetch between $75,000 and $90,000.

Fitted with a six-speed manual transmission, the Cobra has travelled just 37 kilometres and has been neither registered nor driven on the road. Since the first two Cobras built remain in the hands of Ford, this is the first car to be sold to the public.

The 400-unit production run sold out virtually in record time when the GT Cobra was new, with customers enticed by the cars' upgraded engine management system, revised exhaust, higher compression ratio, modified cams and valves.

Harking back to both the XC Falcon Cobra of the late 70s and the original Shelby Mustang GT-350, the BF models were completed in white with twin blue stripes down the centreline. All 400 cars were fitted with standard limited-slip differential, 'R-Spec' suspension and exclusive 19-inch alloy wheels.

Shannons will also have a 1970 XY GT Falcon, finished in the de rigeur Vermillion Fire. The older car has been restored and features five-slot wheels, 'Shaker, sunroof and correct for the period radio.

The estimate placed on this car ranges from $80,000 to $110,000 and is barely half the $211,500 achieved by a similar car at the Melbourne Motor Show auction last year.

For those who can't quite find the cash for either the GT Cobra or the XY GT, there'll also be a 'Yellow Glo' XA GT Hardtop at the auction, expected to sell within the range of $60,000 to $90,000.

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