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1967 Shelby 427 ‘Semi-Competition’ Cobra

1967 Shelby 427 ‘Semi-Competition’ Cobra

Editor’s Note: Thanks to RM Auctions, here’s a great article with stunning photos of a 1967 Shelby 427 ‘Semi-Competition’ Cobra. Chassis no. CSX 3045 sold at the 2013 RM Auctions’ Arizona Sale on January 18. Enjoy!

Photo Credit: Darin Schnabel ©2012 Courtesy of RM Auctions

Lot 122
1967 Shelby 427 ‘Semi-Competition’ Cobra
Sold for $2,007,500

Chassis no. CSX 3045

Est. 485 hp, 427 cu. in. “medium-riser” overhead valve V-8 engine with four-barrel Holley carburetor, four-speed manual transmission, four-wheel independent upper and lower A-arms with coil springs, Koni tubular shock absorbers, and anti-sway bars, and four-wheel Girling disc brakes with alloy calipers. Wheelbase: 90 in.

• One of only 29 Semi-Competition Cobras built
• Genuine and fully documented
• Ex-John Mozart Collection


Although the 289 Cobra was well proven in competition, by the mid-sixties it was becoming clear that something else was needed. Every year, more power was required to stay competitive, and Ford’s 289 had reached its reliability limit at around 380 or 390 horsepower.

In many respects, the father of the 427 Cobra was racing driver and development engineer Ken Miles, who thought the idea of a bigger engine might work for the Cobra, especially if winning in SCCA’s A Production Class was the aim. If there was any doubt about the need, it was eliminated when the Shelby team went to Nassau for Speed Week in 1963, where they were confronted with Chevrolet’s new Corvette Grand Sport, which was more than nine seconds a lap faster than the Cobras.

Although Carroll Shelby had been promised a new aluminum block version of Ford’s 390 engine, internal resistance developed from the NASCAR faction inside of Ford and Shelby and it was forced to make do with the cast iron 427. Reliable at 500 horsepower, the engine was so much heavier that a complete redesign of the chassis was required to ensure that the car would handle properly. The result was a larger chassis, which was five inches wider, with coil springs all around. The necessary work was completed with the help of Ford’s engineering department, and the formidable 427 Cobra was born.

As with all his cars, Shelby intended to see that the Cobras were winners on the track. In order to qualify as a production car under FIA rules for the GT class, manufacturers were required to produce a minimum of 100 examples. Shelby’s strong relationship with privateer racers gave him the confidence that he could sell that many, and as a result, a competition spec version of the new 427 was announced. Features included an expanded body to accommodate wider wheels and tires, an oil cooler, a side exhaust, an external fuel filler, front jacking points, a roll bar, and a special 42-gallon fuel tank.

Anticipating FIA approval, Shelby placed an order with AC for 100 of these competition 427 Cobras. Each was finished in primer with a black interior and air shipped to Shelby’s facilities upon completion. Unfortunately, when the FIA inspectors arrived on April 29th, 1965, they found just 51 cars completed and denied Shelby the homologation he needed. Oddly enough, the same fate befell Ferrari: his 250 LM, which was intended to replace the GTO, was also denied approval. As a result, both of these archrivals were forced to return to the previous year’s cars for the upcoming season.

Once Shelby knew that the FIA was not going to allow the new 427 Cobra to compete in the GT class, he cancelled his order for the remaining competition cars, and AC reverted to the production of street cars.

Meanwhile, in June of 1965, the FIA decided to juggle its classification system, and a new class, called “Competition GT,” was created, and the production requirement was lowered to 50–coincidentally, one less than the number of 427 competition cars built at the time of the FIA inspection.

The rule change created another problem for Shelby: it put his Cobra in the same class as Ford’s GT40. Since Shelby was running that program for Ford, there was a clear conflict of interest, not to mention a disparity in performance. To resolve it, Shelby agreed not to campaign his own car, leaving it in the hands of the privateers.

By this time, 53 competition chassis had been completed by AC (chassis number CSX 3001 through CSX 3053), and of those, 16 had been sold to private teams. The first two were retained as prototypes, and one chassis, CSX 3027, was sent to Ford Engineering.

The remaining chassis were something of a problem for Shelby. Parked outside Shelby’s L.A. warehouse, they were proving difficult to sell. Seeing the cars prompted Shelby’s East Coast representative, Charles Beidler, to suggest that they be painted and completed as street cars and then marketed as the fastest street car ever built. The idea worked, and the 427 S/C, or Semi-Competition, was born.

The cars were brutally fast, and driving one was an exhilarating experience. One of the most memorable stories about the 427 Cobra surrounds a test that was arranged for Sports Car Graphic magazine by Ken Miles. A few years earlier, Aston Martin had bragged that their racing cars were capable of accelerating from 0-100 mph to zero in less than 20 seconds. Miles had the idea to restage the test using the new 427 Cobra. The result, according to SCG’s editor, Jerry Titus, was an astounding 13.2 seconds.

CSX 3045

A well-known and fully documented, no stories S/C, CSX 3045 is actually pictured three times in the Shelby American World Registry: in 1967, then with early owner Peter Bayer on page 252; page 251 shows a nice on-track shot (car # 288) with early-1980s owner Jere Clark at the wheel; and again in the previous owner’s driveway, shortly after taking delivery in 1995.

The Cobra presented here was invoiced to Shelby American on February 23, 1965, and it was completed to S/C specification under work order number 15103. On April 21, 1966, Shelby American received an order for an S/C model, including a request to install a modified race exhaust system to be delivered to the customer, a Mr. Hall, on May 31st. Likely, “Mr. Hall” did not actually take delivery or keep the Cobra on its MSO, since the next recorded owner, Peter Bayer, acquired CSX 3045 as payment for promotional work done on behalf of dealer Larsen Ford, of White Plains, New York, and he was the first to register this car in 1967. Doug Carsen, of Rimersburg, Pennsylvania, who is believed to have raced this particular S/C in several SCCA events, became the next owner.

In the mid-1970s, John Parlante, of Whitestone, New York, began some restoration work prior to passing the S/C to Geoff Howard in 1978, who completed the work, including the Guardsman Blue paint scheme. By 1979, it was offered for sale with 10,400 miles: “Fresh restoration, all competition options, polished Halibrands–expensive!” Well-known historic and Cobra collector Jere Clark, of Phoenix, Arizona, bought the car, installed Arizona plate “427 S/C,” and went vintage racing.

At SAAC-5 in Dearborn, Michigan, CSX 3045 won First Place in the Competition Shelby Popular Vote category, after which Dick Smith gave a white-knuckled Rick Kopec an on-track demo-drive at 185 mph! The car eventually came into the hands of Cobra aficionado George Stauffer, of Blue Mounds, Wisconsin, in the early-1980s; he advertised it as “a real S/C; it has run at Laguna Seca several times and is ready to win more historic races. Guardsman Blue; fuel cell; not for the timid.”

By 1986, it was with Carl Schwartz, of Grand Blanc, Michigan, followed by inclusion in the famous John Mozart Collection from 1988 onward. Under Mr. Mozart’s ownership, CSX 3045 was subjected to a full restoration carried out to his impeccably high standards. It was contracted to Mike Giddings, of Robin Automotive in Northern California, who refurbished the suspension, braking systems, and the rear end and transmission, as well as performing all of the final assembly and detailing work. The original engine was rebuilt, the dynamometer was tested by Elgin Cams and Tech Craft, and the paint work was handled by Scott Veazie Restoration Services, of Los Angeles, California.

In December of 1994, Cobra expert Dave Dralle, of Redondo Beach, California, carried out an inspection of the car on behalf of the next owner, who purchased it from Mr. Mozart in early-1995. This proved to be money well spent, as CSX 3045 won a Gold at the 1998 SAAC Convention in Charlotte, North Carolina, plus Best Cobra and Best Comp Cobra at SAAC Ann Arbor, Michigan in 1999, in addition to many regional SAAC Show First Place awards.

With only 29 Shelby 427 Semi-Competition Cobras built, these raucous roadsters are seldom offered publicly. It is even more unusual to find a genuine, 18,000 mile S/C with this car’s perfect provenance and stunning appearance, providing a very tempting purchase consideration for a serious collector of American racing history.

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